Today, Heineken reported a rise in YTD volumes. Here, just-drinks takes a closer look at the group’s performance by region:
Africa Middle East & Eastern Europe
- Organic consolidated beer volumes declined 4%. Weak volumes trends were seen primarily in Russia, Egypt and the Democratic Republic of Congo, which more than offset growth in Nigeria, Ethiopia and Algeria.
- In Nigeria volumes increased low single digit. Underlying trading conditions remain difficult as the weaker macroeconomic environment and consumer sentiment continue to drive negative brand mix. Although the Naira devaluation on 20 June initially provided some improvement in liquidity, the Naira has continued to weaken, which will have a further impact on margins, Heineken said.
- In Russia volumes declined double digit as the market remained under pressure and volume was adversely impacted by high promotional price pressure.
- Organic consolidated beer volumes grew 3% driven by Mexico and the Caribbean.
- In Mexico, volumes grew mid-single digits benefiting from positive consumer confidence and the strong performance of both Tecate Light and Dos Equis. Brand Heineken delivered double-digit volumes growth.
- In Brazil, volumes declined mid-single digit reflecting weak macroeconomic conditions and tough trading conditions. The premium brand portfolio outperformed, with continued double digit brand Heineken volume growth and good Amstel performance.
- In the US volumes slightly declined, with volume growth of the Mexican brands, particularly Tecate, offset by lower brand Heineken.
- Organic consolidated beer volume growth of 15% was driven by particularly strong performance in Vietnam and Cambodia, Heineken said.
- In Vietnam, volumes grew double digit in line with the strong momentum seen year to date. The Tiger brand continued to be the key growth driver.
- In Indonesia, volumes were up mid-single digits driven by strong growth of the low- and non-alcohol part of the portfolio.
- In Cambodia, volumes continued to grow double digits benefiting from the capacity added earlier this year.
- In China, volumes were up mid-single digits led by strong performance of the Heineken brand.
- Organic consolidated beer volume increased by 1%, despite tough comparatives for the quarter and stocking in June ahead of the excise tax increase in Greece. Performance was helped by good weather in most European markets, Heineken said.
- In Spain, Netherlands, France, and Italy volumes were positive.
- In Poland volumes were flat and volumes declined in Romania, Austria and the UK partly due to tough comparatives.
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