Heineken boosted by rising beer sales despite rising prices
Brewing giant Heineken revealed buyers bought more beer in the past half year despite rising prices.
The company, which also makes Amstel and Birra Moretti, reported increased sales and profits in the period to July.
The Dutch company revealed that its total revenue increased by 37% to 16.4 billion euros (£13.7 billion), during the half-year compared to the same period a year earlier, which had saw its sales hampered by pandemic restrictions.
Operating profits also surged, rising 20.6% to €2.1bn (£1.7bn) and beating analysts’ expectations.
He told shareholders that the rise in profits was due to “the recovery in volumes, pricing and revenue management” as the group tried to rid itself of cost inflation.
Heineken said it saw its price mix, which includes both higher prices and customers choosing more expensive products, increase by 15.3%.
Beer volumes grew 7.6% organically from the same period last year, and were up 4.2% from pre-pandemic levels as the brewer saw strong growth in the Americas region.
In the UK, the group saw strong growth for Amstel and Birra Moretti, with punters back in pubs, bars and restaurants in full force.
The group, which also makes Strongbow, said cider has also returned to growth in the UK and Ireland.
Chairman Dolf Van Den Brink said: “We are encouraged by the first half results.
“We have benefited from the recovery in Asia-Pacific and the restoration in Europe as consumers returned to bars, with demand resilient so far despite mounting inflationary pressures on consumer disposable income.
“Our business performed well in the first half of 2022.
“We outperformed the industry in more than half of our markets and the Heineken brand again showed strong momentum, driven by increased brand support.”