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Heineken: beer volumes and revenues up in 2021

The Group publishes the financial data relating to the entire fiscal year

The Dutch brewery group Heineken closed 2021 with a net profit of 2.04 billion euros, an improvement on the loss suffered in 2020 due to the pandemic. The group, in a note, also announced that it had recorded an increase in volumes of beer sold equal to 4.6%, reaching a level "well above 2019".

Dolf van den Brink, chairman of the executive committee/ceo, commented: "In 2021 we have taken a big step towards returning to pre-pandemic levels. I am satisfied with the renewal of our brand and product portfolio, the acceleration in favor of digital transformation and how we have strengthened with the acquisition of Ubl in India and other operations in southern Africa. We have raised the bar of sustainability and accountability and are making great strides in downsizing our cost base ahead, although the timing of the recovery remains uncertain and we face significant inflationary challenges. We are encouraged by the strong performance of our business and how EverGreen is taking shape (see EFA News article of 16-4-21)".

Heineken's revenues in 2021 were € 26,583 million, up 11.8% compared to 2020. The Group reported gross savings of € 1.3 billion, and claims it is on track to reach € 2 billion by 2023. The company's operating profit (beia) recorded organic growth of 43, 8%; net profit (beia), on the other hand, recorded organic growth of 80.2%.

For 2022, Heineken raised doubts as to whether it could achieve its medium-term profit margin targets due to the impact of inflation. "Overall, we expect a stable to modest improvement in operating profit this year", the company said in a statement. The Group confirmed that it is still aiming for an operating profit margin of 17% in 2023, but in the presence of "greater uncertainty" linked to the economic context and the increase in costs. Heineken will update its guidance for 2023 later in the year.

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EFA News - European Food Agency