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Heineken Q1 revenue falls 3.5%
Heineken Holding NV has issued its trading update for the first quarter of 2010.
Highlights
- Ebit (beia) grew mid-single digit as the effect of cost savings, positive pricing and sales mix exceeded that of lower volume.
- Reported Ebit was significantly higher, driven by an exceptional book gain of €142m on the transfer of two Asian operations.
- Heineken’s revenue declined 3.5% to €2,936m, due to changes in consolidation scope, while the effect of lower volume was partly offset by better pricing and sales mix improvement. Organically, revenue was 2.2% lower.
- Volume of the Heineken brand in the international premium segment grew 6.7% to 5.7m hectolitres.
- Consolidated beer volume declined 5.3% organically, totalling 23.6m hectolitres. An important factor was the volume decline in Russia.
The first quarter of the year is the least significant in terms of volume and profitability. In 2009, the first quarter accounted for 20.5% of consolidated beer volume and 20.7% of revenue respectively.
Read the complete Heineken press release here.
Source: Heineken
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