Sector News

Heineken reports “strong” full-year results but warns of Covid-19 impact in 2022

February 20, 2022
Food & Drink

Heineken has posted organic sales growth of 12.2% in its full-year results, but said that it expects Covid-19 to continue to have an impact on revenue in 2022.

The organic sales growth compares with the 11.9% fall in revenue the Dutch brewer reported last year, when it announced that it would cut 8,000 jobs as part of a strategy to restore its operating margins to pre-pandemic levels. Operating profit for 2021 was €3.41 billion, representing organic growth of 43.8%, driven by strong growth in revenue, “partially offset by higher variable and personnel expenses”.

In 2021, the Heineken brand saw volume growth of 7.4% and recorded double-digit growth in more than 60 markets.

Overall, the company’s consolidated beer volume grew by 4.6% on an organic basis. Premium beer volume increased by 10%, outperforming the portfolio in the majority of Heineken’s markets and accounting for over 60% of the total organic growth in beer volume.

In Heineken’s Africa, Middle East and Eastern Europe segment, consolidated beer volumes grew organically by 10.4%. The Americas recorded 8.2% growth and Europe volumes rose by 3.8%. Meanwhile, Asia Pacific saw its beer volumes decrease by 11.7%, due to pandemic-related closures and restrictions.

Heineken’s CEO and chairman, Dolf Van Den Brink, said: “Looking ahead, although the speed of recovery remains uncertain and we face significant inflationary challenges, we are encouraged by the strong performance of our business and how EverGreen is taking shape. This gives me confidence we are on course to deliver superior and balanced growth to drive sustainable long-term value creation.”

By Rafaela Sousa


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