NETHERLANDS: Heineken sees Q1 sales, volumes, continue to climb

By Olly Wehring | 18 April 2012

Sales in Q1 rise by 6.8% year-on-year
Reported net profits in first three months, minus exceptionals, inch up by 2.6% to EUR155m (US$203m)
Volumes rise by 3.5%, Africa leaps, Europe dips

Heineken released its Q1 trading update this morning

Heineken has posted a a lift in sales and net profits for the first three months of 2012, and reiterated its outlook for the full-year.

In its Q1 trading update, issued this morning (18 April), the brewer said that sales in the three months to the end of March rose by 6.8% year-on-year, with volumes increasing by 3.5%. Reported net profits in the period were up by 2.6% to EUR155m (US$203.3m), thanks to the growing sales and volumes and cost savings.

Volumes from Heineken's Africa & Middle East operations leapt in the quarter, by 17.1% to 7.2m hectolitres. The performance helped prop up the Western Europe region, where volumes dropped by 2.4% 13.1m hectolitres. While the voluntary withdrawal of the 24 x 33 cl SKU of the Karjala beer brand in Finland late last year was blamed in part for the dip, Heineken also noted that the on-trade had struggled in Portugal, Ireland and the Netherlands in the quarter.

The brewer noted, however, that the first quarter is traditionally "less significant" in the context of the full year. "In 2011," Heineken said, "the first quarter represented 20% of consolidated beer volume and considerably less in terms of profit contribution."

While the company reaffirmed the outlook it gave for 2012 in February, a spokesperson told just-drinks that more specific forecast details will be announced with Heineken's half-year results, on 22 August.

Heineken's share price rose by 4.1% after the release of the numbers this morning.

The company will issue its half-year results on 22 August.

To read the brewer's official release, click here.

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Expert analysis

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Sectors: Beer & cider, Company results

Companies: Heineken, Carlsberg

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