Heineken saw its volume growth stagnate last quarter, meaning the brewer missed its revenue expectations. As a result, the Dutch drinks giant promised to invest more in its brands.
Lower sales in Asia and Americas
Heineken’s third-quarter net sales grew 3.3 % to 7.7 billion euros (excluding acquisitions), less than the + 5.4 % that analysts were counting on, according to Bloomberg.
Volume rose just 0.7 % to 61.9 million hectolitres. In Europe, the producer sold 1.4 % more beer, although analysts were expecting 3.6 % more. In America and Asia, there was even a volume decrease. In Vietnam, for instance, Heineken is struggling with new regulations restricting alcohol sales.
Still, Heineken is sticking to its annual forecast for 2024. The group plans to invest more in its brands and assumes 4 to 8 % more operating profit this year.
