Heineken Faces Beer Sales Drop Yet Holds Profit Forecast
Heineken Maintains Profit Outlook Despite Slump in US and Europe
Volume and Sales Decline in First Half of 2024
- Global beer output dropped to 116.4 million hectolitres, below 118.2 million in 2023.
- Sales fell to 14.2 billion euros, 14.8 billion euros in the previous year.
- Organic growth, excluding currency effects, stood at 2.1 %.
Regional Performance Highlights
- Vietnam, India, and Mexico saw notable expansion.
- Brazil, the United States, and parts of Europe reported declines.
- The decline in Brazil and parts of Europe offset the strong showing in Asia.
Full‑Year Profit Forecast Unchanged
Operating profit expected between 4 % and 8 % for the full year.
Operating profit excluding exceptional items and amortisation reached 2.0 billion euros, slightly above analyst expectations.
CEO’s View on US‑EU Tariff Deal
Dolf van den Brink welcomed the late‑Sunday agreement that averted a trade war.
He mentioned that a flat 15‑percent tariff for most EU goods entering the US had already been integrated into profit forecasts.
He noted that 95 % of its products are manufactured and sold locally, so tariffs do not apply.
He concluded that the impact of the tariffs is manageable and that clarity has been restored for the company.
Brand Portfolio
Heineken owns popular brands such as Amstel, Kingfisher, and Savanna cider.
Key Takeaway
Heineken’s strategy remains resilient; the company has adjusted to the global market shift while affirming its profit growth targets.
