Heineken Q1 Report 2024
Dolf van den Brink, Chairman of the Executive Board / CEO, commented: “As we maintained focus on our EverGreen priorities, we had an encouraging start to 2024. All regions grew volume and net revenue, and we continued to see a sequential improvement in the performance of the business, growing in line or ahead of the category in the majority of our markets. This quarter was boosted by an earlier Easter and cycling negative one-off effects from last year. Top-line delivery was well-balanced between volume and value as more markets returned to volume growth and our underlying premiumisation trends remained strong.
HeinekenR accelerated its growth to 12.9% in volume globally and became the #1 brand by value in Brazil. Our Low & No-Alcohol (LONO) portfolio grew in volume in the mid-teens, led by the strong growth of HeinekenR 0.0, further strengthening our global leadership position in the segment. Our eB2B platforms captured €2.7 billion in gross merchandise value this quarter, 17% more than last year. Continuing our journey to net zero, we opened a large scale solar thermal plant in Spain featuring cutting-edge technology.
Highlights
- Revenue €8,184 million, up 7.2%
- Net revenue (beia) organic growth 9.4%; per hectolitre 4.9% Beer volume organic growth 4.7%
- Premium beer volume organic growth 7.3%
- HeinekenR volume growth 12.9%
- Gross merchandise value captured via eB2B platforms +17%
- Outlook for the full year unchanged; operating profit (beia) expected to grow organically low- to high-single-digit.
