Heineken 1Q Net Profit, Revenue Rose on Strong Channel Mix, Pricing -- Update
20 4월 2022 - 5:04PM
Dow Jones News
By Kyle Morris
Heineken NV said Wednesday that first-quarter net profit and
revenue increased as it benefited from a strong channel mix and
assertive pricing, but warned that it will take action on prices as
it expects significant inflationary headwinds.
The Dutch brewer posted a net profit of 417 million euros
($449.8 million) for the first three months of 2022 compared with
EUR168 million a year earlier, driven by top-line growth, with the
partial recovery of on-trade--bars, clubs, hotels and
restaurants--in Europe after Covid-19-related restrictions last
year.
The net profit figure doesn't include an impairment and other
non-cash exceptional charges of around EUR400 million relating to
the decision to transfer the ownership of the Russia business, it
said.
Revenue for the period was EUR6.99 billion compared with EUR5.15
billion a year earlier.
Beer volume grew 5.2% organically on year and was 2.8% ahead of
2019 on an organic basis. All regions contributed to the growth,
especially Europe, it said.
"We had a solid start to the year, in line with our
expectations, especially benefiting from strong channel mix from
the partial on-trade recovery of Europe and assertive pricing
across all regions," Chief Executive Dolf van den Brink said.
Heineken said it expects inflationary pressures to hurt
household disposable income, posing a risk to beer consumption
later in the year. Further cost pressures are emerging from rising
input costs, supply chain challenges and from the decision to leave
Russia, it said. The brewer added that it maintains guidance for a
stable to modest improvement in the adjusted operating profit
margin in 2022.
Shares in Heineken at 0732 GMT were up EUR2.84, or 3.2%, at
EUR92.18.
Write to Kyle Morris at kyle.morris@dowjones.com
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(END) Dow Jones Newswires
April 20, 2022 03:49 ET (07:49 GMT)
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