Heineken Backs Full-Year Guidance After Posting 20% Rise in 3Q Revenue
26 Outubro 2022 - 4:14AM
Dow Jones News
By Dominic Chopping
Heineken NV Wednesday backed full-year guidance after posing a
20% rise in third-quarter net revenue following a sharp post-Covid
recovery in Asia Pacific.
The Dutch brewer said that net revenue--that excludes excise tax
expenses--rose to 7.79 billion euros ($7.76 billion) in the quarter
from EUR6.03 billion last year. A company-compiled consensus
forecast had seen net revenue at EUR7.88 billion.
Total organic beer volumes rose 8.9% in the quarter. For the
first nine months of the year, beer volumes rose 8.1%.
In the nine-month period, net revenue rose 23% to EUR21.27
billion while net profit fell to EUR2.2 billion from EUR3.03
billion. Net profit last year was boosted by an exceptional gain of
EUR1.27 billion from the revaluation of a stake in United Breweries
in India.
"Our business delivered solid results in the third quarter
across all regions, and in particular Asia Pacific," Chairman and
Chief Executive Dolf van den Brink said.
"We increasingly see reasons to be cautious on the macroeconomic
outlook, including some signs of softness in consumer demand."
The company said it maintains its efforts to offset input cost
inflation with pricing.
For 2022, the company backed its guidance to achieve a
stable-to-modest sequential improvement in adjusted operating
profit margin.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
October 26, 2022 02:59 ET (06:59 GMT)
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