Heineken on Wednesday released its first quarter results, showing an organic growth of 4.3% in overall beer sales of and +8.1% of its Heineken brand. Lower volume in Europe was more than offset by higher sales in Asia Pacific, Americas, and Africa, Middle East & Eastern Europe. Asia Pacific performed extraordinary well with +11.3% in consolidated beer volume. Especially beer volumes in Vietnam, Cambodia, Malaysia but also Brazil, South Africa and Russia were up double digit
The net profit in the quarter however was down 11.2% to €260 million (2017: €293 million).
Jean-François van Boxmeer, Chairman of the Executive Board & CEO, commented: "Performance in the first quarter was in line with expectations, with volume growth benefiting from an earlier timing of Easter this year and a slow start last year. The Heineken® brand grew by 8.1% and we saw continued growth momentum in key markets around the world. In Europe, volumes were negatively impacted by cold weather across the region. Our full year guidance remains unchanged."
