Brief: Heineken Q3 Net Revenue (Beia) Slightly Misses Company-Compiled Consensus

Heineken Holding NV

25/10/2023 07:23

Oct 25 (Reuters) - Heineken NV  HEIN.AS :
    * BEER VOLUME ORGANIC GROWTH -4.2% FOR QUARTER, -5.1% YEAR
TO DATE
    * Q3 NET REVENUE (BEIA) ORGANIC GROWTH 4.5% FOR QUARTER,
5.8% YEAR
TO DATE
    * PREMIUM BEER VOLUME ORGANIC GROWTH -5.7% FOR QUARTER,
-6.1% YEAR
TO DATE
    * 2023 FULL YEAR EXPECTATIONS OF STABLE TO MID-SINGLE-DIGIT
OPERATING PROFIT (BEIA) ORGANIC GROWTH UNCHANGED
    * HEINEKEN VOLUME GROWTH 2.3% FOR QUARTER, 1.9% YEAR TO DATE
    * WHILST INFLATION-LED PRICING IS TAPERING, WE OBSERVE A
SLOWDOWN
OF CONSUMER DEMAND IN VARIOUS MARKETS FACING CHALLENGING
MACRO-ECONOMIC CONDITIONS
    * IN THIS CONTEXT, WE WILL STAY COURSE ON EXECUTING OUR
STRATEGY,
REMAIN VIGILANT ON COSTS AND FOCUS ON REBALANCING OUR GROWTH
    * Q3 NET REVENUE (BEIA) EUR 8,015 MILLION VERSUS EUR 8,115
MILLION
IN COMPANY-COMPILED CONSENSUS
    * Q3 REVENUE (IFRS) EUR 9,604 MILLION
    * WE RETURNED TO VOLUME GROWTH IN AMERICAS, WITH STRONG
PERFORMANCES IN BRAZIL AND MEXICO
    * Q3 HEINEKEN VOLUME 63.2 MHL VERSUS 73.7 MHL IN
COMPANY-COMPILED
CONSENSUS
    * AFRICA, MIDDLE EAST & EASTERN EUROPE REGION WAS IMPACTED
BY
VOLUME DECLINES IN NIGERIA AND SOUTH AFRICA
    * IN EUROPE, FOLLOWING IMPACT OF ADVERSE WEATHER IN JULY AND
AUGUST, TRENDS IMPROVED IN SEPTEMBER
    * REPORTED NET PROFIT FOR THE FIRST NINE MONTHS OF 2023 WAS
€1,924
MILLION (2022: €2,199 MILLION)
    * Q3 COMPANY-COMPILED CONSENSUS: ORGANIC CONSOLIDATED NET
REVENUE
(BEIA) GROWTH 4.8%
    * Q3 COMPANY-COMPILED CONSENSUS: ORGANIC BEER VOLUME
DECREASE OF
4.3%; TOTAL BEER VOLUME 64.0 MHL
    * Q3 COMPANY-COMPILED CONSENSUS: NET REVENUE (BEIA) EUR
8,115
MILLION; HEINEKEN VOLUME 73.7 MHL

Source text for Eikon:  ID:nGNE8vFysd 
Further company coverage:  HEIN.AS 

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