Netherlands: Heineken shows “solid performance” in third quarter

Heineken released its third quarter results today. In contrast to its rival AB InBev, which published its results the same day (inside.beer, 26.10.2017), Heineken could report an organic volume growth in the third quarter of +2.5%, with growth in Asia Pacific, Americas and Africa, Middle East & Eastern Europe offsetting lower volume in Europe against tough comparatives. The flagship brand Heineken increased sales volume by +3.4% driven by Brazil, South Africa, Russia and Mexico, which more than offset weaker volume in the US, France, the Netherlands and China.

Jean-François van Boxmeer, Chairman of the Executive Board & CEO, commented: "Performance in the third quarter was solid, with an acceleration of organic volume growth in Asia Pacific and Africa, Middle East & Eastern Europe. Growth in Asia Pacific continued to be driven by Vietnam and Cambodia whilst in Africa, Middle East & Eastern Europe, the main contributors were Russia, Ethiopia and South Africa. In the Americas, Mexico continued to deliver, and weaker volumes in the US were offset by growth coming from Brazil. Europe had to face tough comparatives, partly due to less favourable weather in some key markets. During the period we completed the acquisition of Punch Securitisation A. Our full year expectations remain unchanged."

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