Heineken has posted 4.3% growth in first quarter organic beer volumes, despite plunging sales in the US and Western Europe as the cold weather hit sales in its major markets.
The brewer said growth in Asia Pacific, Americas, and Africa, Middle East & Eastern Europe more than offset lower volumes in Europe and North America.
Heineken said UK total volumes were down by “mid-single digits” as the benefits of an earlier Easter were wiped out by the cold weather across Western Europe.
Consolidated beer volume declined organically by 1.7% in Europe, with declines across France, Spain, Austria, Poland and the Netherlands.
Beer volume at Heineken USA also declined by a “high single digit” figure in a declining US beer market.
Conversley, volumes across Africa, Middle East & Eastern Europe were up by 6.1% organically, the Americas grew by 6.8% driven by Mexico and Brazil, and Asia Pacific saw organic growth of 11.3%.
Sales volumes of the Heineken brand Heineken grew organically by 8.1% in the first quarter, driven by Brazil, South Africa, Russia, Nigeria, Italy, Mexico and Vietnam.
Chairman and CEO Jean-François van Boxmeer, commented: “Performance in the first quarter was in line with expectations, with volume growth benefiting from an earlier timing of Easter this year and a slow start last year. The Heineken brand grew by 8.1% and we saw continued growth momentum in key markets around the world. Our full year guidance remains unchanged.”
Reported net profit in the quarter was $260m, down from €293m in the comparable period last year.
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