(RTTNews) – Dutch brewer Heineken N.V. (HKHHF.PK) reported Wednesday that its third-quarter revenue was 9.072 billion euros, down 5.5 percent from last year’s 9.604 billion euros. Organically, revenues grew 3.5 percent.
Net revenue fell 6.1 percent from last year to 7.56 billion euros. Net revenue (beia) increased organically by 3.3 percent
Total consolidated volume was 70.3 mhl, lower than last year’s 72.4 mhl. Organically, volume edged up 0.7 percent.
Premium beer volume’s organic growth was 4.5 percent for the quarter, led by Heineken up 8.7 percent, with further significant contributions from Kingfisher Ultra in India and Savanna in Southern Africa.
Non-alcoholic beer & cider grew 11 percent.
Looking ahead, the company said its 0.5 billion euros gross savings target for 2024 is on track.
Dolf van den Brink, Chairman of the Executive Board / CEO, said, “We confirm and reiterate our full year outlook to grow operating profit (beia) organically in the range of 4 percent to 8 percent, reflecting our confidence in delivery and commitment to invest behind growth and to future-proof our business.”
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Source : Nasdaq