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Home | News | International | Heineken Q3: volumes up 2.5%

Heineken Q3: volumes up 2.5%

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CEO van Boxmeer: third quarter performance "solid"

Organic consolidated beer volumes rise, save in Europe

Heineken is reporting beer volume gains for its third quarter, both overall and especially for its flagship Heineken premium lager.

The top line figure for organic consolidated beer volume growth was 2.9% with Heineken volumes up by 3.4% year-on-year.

Total beer volumes for Q3 reached 60.0 million hectolitres, an overall 11.1 per cent gain. For the first nine months of the year beer volumes have now reached 161.3mhl, overall a 6.8% gain over the same period in 2016.

Heineken (the brand) totalled 9.4 million hectolitres in sales during the quarter. Growth was driven in markets such as Brazil, South Africa, Mexico and Russia. Against this were weaker volumes in the United States, China, France, and the Netherlands.

Breaking performance down by region, in Africa, Middle East & Eastern Europe organic beer volumes rose by 8.8 per cent. South Africa and Ethiopia delivered double digit growth while Nigeria, troubled by difficult trading conditions and consumers trading down, reported a mid single digit decline.

In the Americas organic beer volumes grew by two per cent. Leading the way was Mexico where volume was up mid single digit paced by the Heineken brand. In the US there was a mid single digit decline that was attributed to a phasing of shipments making a comparable difficult to ascertain. Craft brand Lagunitas was said to have outperformed the craft beer market.

In Asia Pacific organic consolidated beer volumes raised by 12.2% a result driven in part by the Vietnamese market where a thirst for Tiger grew volumes by an unspecified double digit figure. Cambodia and Malaysia also delivered double digit growth.

The story was less rosy in China, where growth continued to be impacted by parallel imports.

Regionally the odd one out was Europe, where organic beer volumes declined by 2.8 per cent. In the UK volumes declined because of a de-listing by a large customer, while Polish volumes dropped due to a reduction in promotional activity. And that old bugbear, inclement weather, hampered sales in France and the Netherlands.

In Italy volumes grew mid-single digits, aided by new promotional activities and strong executions.

Net profits for the first nine months of the year totalled 1,486 million euros, with this hindered by a 233 million asset write-down in the Democratic Republic of the Congo.





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