Sector News

Heineken posts decline in Q3 beer volumes, continues to expect full-year results below 2019

October 31, 2021
Food & Drink

Heineken has posted a 5.1% decline in Q3 beer volumes on a like-for-like basis, after its Asia Pacific region was significantly impacted by the pandemic in the quarter.

The company’s reported net profit for the first nine months was €3.08 billion, compared to €396 million last year.

Heineken says that its overall full-year expectations remain unchanged.

Beer volume declined by 5.1% organically for the third quarter but increased by 4.0% for the first nine months. However, Heineken’s volume increased by 8.0% in the quarter and by 15.1% for the first nine months.

Beer volumes were up in Q3 for the company’s Africa, Middle East & Eastern Europe business – which recorded organic growth of 5.5%.

However, beer volumes were down across the Americas, Asia Pacific and Europe regions – which recorded declines of 3.4%, 37.4% and 2.3% on an organic basis.

“As anticipated, our Asia Pacific region was deeply impacted by the pandemic in the third quarter. We see first signs of recovery and I admire the resilience and solidarity of our people as we navigate these challenges,” said Dolf van den Brink, Heineken chairman and CEO.

“Our new EverGreen strategy is gathering momentum across the organisation. We continue to revitalise our portfolio with emphasis on premium, low- and no-alcohol and beyond beer.

“The Heineken brand sustained its strong growth, +15.1% for the first nine months. Our B2B digital platforms more than doubled in digital sales value.”

He continued: “We began the integration of United Breweries in India and continue to be enthusiastic about the long-term opportunities ahead. Yet the macro environment remains volatile, and we are responding accordingly. We are taking an assertive approach to pricing and cost across all of our markets to meet this challenge. Therefore, our expectations stay unchanged, with full-year results remaining below 2019.”

By Lauren Ford

Source: foodbev.com

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