Dutch brewer Heineken N.V. has announced its financial results for the third quarter, reporting total revenues of 9.072 billion euros, marking a 5.5% decrease from the previous year's 9.604 billion euros. When adjusted for organic growth, revenues actually increased by 3.5%.
Net revenue experienced a decline of 6.1% compared to the prior year, totaling 7.56 billion euros. However, organically, net revenue (beia) rose by 3.3%.
The overall consolidated volume stood at 70.3 million hectoliters, a slight drop from the 72.4 million hectoliters recorded last year. Despite this, the organic volume saw a modest increase of 0.7%.
The premium beer segment enjoyed an organic growth rate of 4.5% during the quarter. This was primarily driven by a significant 8.7% rise in Heineken, with notable contributions from Kingfisher Ultra in India and Savanna in Southern Africa.
Furthermore, the non-alcoholic beer and cider category achieved a growth of 11%.
Looking ahead, Heineken remains confident in achieving its gross savings target of 0.5 billion euros by 2024.
Dolf van den Brink, Chairman of the Executive Board and CEO, affirmed the company's forecast, stating, "We reiterate our full-year outlook to organically increase operating profit (beia) in the range of 4% to 8%, which reflects our confidence in our performance and our dedication to investing in growth and securing the future of our business."
