Heineken sales grow to €8.8 billion

Heineken has seen their sales grow over the last quarter driven by high supermarket demands which has seen group revenues grow in the first three months of the year by 7.2% to €8.8 billion.

The Amsterdam based brewing giant reported a 4.7% rise in organic beer sales which saw a 7.3% growth in Heineken’s premium beers.

Heineken who makes Birra Moretti said their branded drinks helped to drive larger volumes and saw a 12.9% rise globally.

Dolf van den Brink, chief executive and chairman said, “All regions grew volume and net revenue, and we continued to see a sequential improvement in the performance of the business, growing in line or ahead of the category in the majority of our markets.

“This quarter was boosted by an earlier Easter and cycling negative one-off effects from last year.

“Top-line delivery was well-balanced between volume and value as more markets returned to volume growth and our underlying premiumisation trends remained strong.”

Aarin Chiekrie, equity analyst at Hargreaves Lansdown, said, “Heineken’s first-quarter results finally gave the group something to raise a glass to.

“Total beer volumes were much better than the market expected, meaning that growth on the top line came from a much healthier mix of both price and volume this quarter.

“Despite the solid start to 2024, full-year guidance remains unchanged with underlying operating profit expected to grow at a low-to-high single-digit rate.”