LONDON (Reuters) -Heineken on Wednesday reported a 0.9% increase in first-quarter organic net revenues, just exceeding analysts’ expectations for a slight decline even as tariff uncertainty bites.
The world’s No.2 brewer had already flagged a tough start to 2025 after it cheered investors with its 2024 performance in February. This year’s first quarter saw fewer trading days due to a leap year and the unfavourable timing of large events like Easter.
Heineken said this drove an anticipated 2.1% decline in beer volumes, but it sold more of its pricier labels like namesake brand Heineken, helping to offset this dip.
“Despite volatile consumer and geopolitical trends, we are performing within the range of expectations,” CEO Dolf van den Brink said in a statement.
Heineken kept its full-year guidance for profit growth of between 4% and 8% unchanged despite a huge escalation in global trade tensions sparked by the U.S. since it set the forecast in February.
(Reporting by Emma Rumney; Editing by Jan Harvey)
Comments