Heineken sells more beer in Q1, sticks to outlook

Heineken sold more beer in the first quarter, reporting its first quarterly year-on-year growth in volumes in a year, and stuck to its forecast for profit growth in 2024.

The world's second-largest brewer said on Wednesday that beer sales by volume rose 4.7% organically in the January-March period, beating the 2.5% growth expected by analysts in a company-provided poll.

CEO Dolf van den Brink said in a statement that all regions posted higher volume and net revenue, and the company continued to see a sequential improvement in its business performance.

He added the quarter was helped by an earlier Easter and one-off effects.

Still, the brewer said it continued to see the economic environment as "challenging and uncertain".

"Despite the solid start to the year, we cannot extrapolate the reported top-line growth to the rest of the year," it said.

Net revenue before one-offs rose 9.4% organically to 6.85 billion euros ($7.33 billion), above the 7.2% growth expected by analysts. - Reuters

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Heineken , brewery


Next In Business News

Malaysia-Japan trade set to rise this year - Tengku Zafrul
Global trading platform Webull expands to Malaysia
Maybank 1Q earnings up 9.8% on higher core fees
MPI set for strong show
Investors rush to grab piece of US$1.8 trillion UK pensions pie
Starwood’s US$10bil REIT turns to survival mode as pain lingers
Damned if you do, damned if you don’t
US stock changes affect Asia forex trades
Panda to capitalise on new opportunities including e-invoicing
Johor Group Plantations aims to go public in 3Q

Others Also Read