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Heineken records strong first quarter

Net profit of €299 million. Strong double digit growth of Italian Ichnusa

Heineken has recorded first-quarter net profit of €299 million (€260 in 1Q18), in part thanks to volume increases across all regions.

Beer volume was up 4.3% organically, driven by strong single-digit volume increases in Heineken’s Asia-Pacific and Africa, the Middle East & Eastern Europe reporting segments. Organic growth in total volumes in Asia-Pacific was 8.2%, while in Africa, the Middle East & Eastern Europe it was 7.8%.

Heineken brand volume was 8.3% higher following double-digit growth in Africa, the Middle East & Eastern Europe, as well as the Americas. The Dutch brewer said that markets including Brazil, South Africa, Russia, China, the UK, Nigeria, Mexico, Romania and Germany were driving growth in trademark Heineken.

In Italy, beer volume grew mid-single digit, with strong double digit growth of Ichnusa.

Jean-François van Boxmeer, chairman and CEO of Heineken, said: “We had a positive start to the year with volume growth across all regions despite the later timing of Easter, underlining our continued focus on growth and the breadth of our geographic footprint.

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© EFA News - European Food Agency Srl