Heineken toasts Amsterdam with better-than-expected first quarter

(Il Sole 24 Ore Radiocor) - Heineken's stock is racing in Amsterdam, rallying more than three points, while the AEX is trading slightly lower. Driving the purchases on the Dutch brewer are the first quarter performance that beat market expectations. In detail, the Dutch brewing group closedthe first quarter of 2025 with revenues of EUR 7.784 billion, down 4.9% year-on-year. The company announced this, pointing out that, in the period under review, mainly 'due to calendar-related factors, the volume of organic beer decreased by 2.1%', a smaller drop than analysts had expected, with shipments postponed due to the late Easter.

"Despite consumption volatility and geopolitical trends, we are postingresults in line with expectations," CEO Dolf van den Brink explains in the release, which confirms the company's "full-year forecast of organic operating profit growth of 4% to 8%". Heineken's performance was driven equally by sales volume and price, analysts at Rbc Capital Markets said in a note. The Dutch brewer performed better in Africa and the Middle East, partially offsetting declining volumes in the Americas (where they fell by single digits) and Europe.

The most significant performance was in Vietnam, which together with India and Ethiopia recorded 'promising growth in volumes' thanks to strong sales during the Tet festival that ensured a recovery after declines. The brewer stated that beer volumes outperformed the market in Nigeria, with growth in Egypt and Algeria 'in the tens'. It should be recalled that Heineken is among the brands grappling with tariffs in the US and the company said it expects continued macroeconomic volatility that could impact consumers, while stressing that over 95 per cent of its total volume is produced locally.