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CLARA MOSCHINI

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Heineken: 1st quarter profit was 168 million

Volumes up 12%

Heineken closed the first quarter up from last year, but not yet at 2019 levels. The group said net profit increased in the first quarter on the back of higher volumes in more than 40 of its markets but warns that the business still remains negatively impacted by the coronavirus pandemic. The Dutch brewer posted a net profit of 168 million euros in the first quarter, compared to 94 million euros in the same period of the previous year and 299 million euros in the same period of 2019.

The company said Heineken brand volumes increased 12% year-on-year, driven by progress in Eastern Europe, Africa, the Middle East, Asia Pacific and, at a more modest pace, the Americas.

Europe is in decline due to the limits linked to the coronavirus pandemic and related restrictions. The group's activity continues to be "heavily influenced" by the consequences of the pandemic, but to achieve its objectives, which remain unchanged, conditions are expected to gradually improve in the second half of the year, with the launch of vaccines".

hef - 18476

EFA News - European Food Agency
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