Heineken’s Q3 Revenue Slightly Exceeds Forecasts, Full-Year Guidance Unchanged

Heineken, the world’s second-largest brewer, reported a 3.3% rise in organic net revenue for the third quarter, narrowly surpassing analysts’ expectations of 3.2% growth. The increase was driven by higher-priced and non-alcoholic beers, with the Heineken brand itself seeing an 8.7% rise in global volumes, particularly strong in Africa, the Middle East, and Asia Pacific. Non-alcoholic beers and ciders also saw growth, up by 11%.

Despite these gains, overall volumes grew just 0.7%, with two of Heineken’s three largest regions experiencing declines. The company has kept its full-year guidance unchanged, targeting 4-8% organic operating profit growth, despite earlier concerns raised by weaker half-year results.

CEO Dolf van den Brink noted that the business is performing in line with expectations, though challenging market conditions persist. Analysts, including Trevor Stirling of Bernstein, emphasized that Heineken is in a rebuilding phase, needing consistent results to regain investor confidence after previous disappointments.

Shares of Heineken were up 2.34% in early trading following the announcement.