Heineken has remained on course to achieve its full-year targets, as consolidated beer volumes rose across all four of the company’s operating regions.
Reported net profit for the company’s nine months was €1.6 billion, up from last year’s €1.49 billion figure, as consolidated beer volumes grew 4.6% in total.
Beer volume growth in Europe, Heineken’s largest market, rose 2.2% thanks in part to warmer weather over the summer, particularly in the Netherlands and France where beer volumes experienced double-digit growth.
Other key markets experiencing double-digit growth included Brazil, South Africa, Russia, the UK, Poland, Canada and Mexico.
Growth was highest in the Americas, where consolidated beer volume grew organically by 8.1%, as Brazil sustained its double-digit beer volume growth driven by Heineken, Amstel and Devassa, while increased sales in Mexico were driven by increased market activity.
In Asia Pacific, organic beer volumes grew by 4.8%, with Vietnam experiencing double-digit growth, driven by the Tiger and Larue brands, while beer volumes in Indonesia were in the high-single digits.
Consolidated beer volume grew 3.1% in Africa, Middle East & Eastern Europe, with South Africa performing particularly strongly, driven mainly by the Heineken and Strongbow brands.
Jean-François van Boxmeer, Heineken CEO said: “Volume growth continued in the third quarter, benefiting from good weather in Europe and strong growth in Brazil, Mexico, Vietnam and South Africa.
“The Heineken brand continued to outperform, driven by Brazil, South Africa, France and Russia. In August, we announced the signing of non-binding agreements with China Resources to join forces to win in China.
“Our expectations for the full year 2018 remain unchanged.”
© FoodBev Media Ltd 2019