HEINEKEN’S THIRD QUARTER REVENUES UP 27.5%.

Heineken N.V. reported third quarter 2022 operations and announced revenue growth of 27.5%. In the third quarter, revenues were EUR 9,415 million.

On the other hand, net income (beia) grew organically by 19.8% to €7,788 million (2021: €6,029 million), benefiting from the strong post-COVID recovery in Asia Pacific. Total consolidated volume grew by 7.6% and net income (beia) per hectoliter increased by 11.1%. The price mix on a constant geographic basis increased by 13.2%, driven by prices to mitigate inflationary pressure and premiumization effects.

During the first nine months of the year, revenues amounted to EUR 25,816 million. Net income was 21,273 million euros. The consolidation of United Breweries Limited (UBL) in India had a positive impact on net income (beia) by EUR 564 million or 3.5%.

Dolf van den Brink, Chairman of the Executive Board/CEO, said of the brewing company’s results for the third quarter, that “our business delivered solid results in the third quarter in all regions, and in particular Asia Pacific has had a strong post-COVID recovery. Our EverGreen transformation continues and is delivering. Our premium portfolio outperformed, led by Tiger and Heineken, including the launch of Heineken® Silver.”

For van den Brink “we maintain our efforts to responsibly offset input cost inflation. We are on track to deliver gross savings of €1.7 billion in our productivity program by the end of this year, as we continue to invest behind our brands and capabilities.” He adds, “We see increasing reasons to be cautious about the macroeconomic outlook, including some signs of weakness in consumer demand. We remain vigilant and confident in our EverGreen strategy. Our expectations for the full year remain unchanged.”