Dutch brewer Heineken on Wednesday reported a slight dip in sales for last year, mainly due to currency fluctuations, although overall beer volumes increased.
The world’s second biggest brewer after AB InBev said revenue in 2024 came in at 36 billion euros ($37.3 billion), compared to the 36.4 billion euros it made the year before.
Beer volume overall grew by 1.6 percent. In 2023, the brewer reported a 4.7-percent decline in overall beer volume.
“Our beer volume expanded in all four regions, across both developed and emerging markets,” said CEO Dolf van den Brink.
Looking ahead, the company said it expected to post “continued volume and revenue growth” despite ongoing economic challenges.
These included “weak consumer sentiment in Europe, volatility, inflationary pressures and currency devaluations across developing markets, and broader geopolitical fluctuations,” the firm said.
Net profits were down sharply, at 978 million euros, compared to the 2.3 billion euros posted in the previous year.
However, the company explained this was due to a one-off impairment from an investment in China Resources Beer, whose share price tanked on the Hong Kong stock exchange.
This write-down already hit the half-year results. “It’s old news,” said Van den Brink, describing it as a “technical adjustment.”
The firm forecast operating profit before exceptional items and amortisation to be in the range of between four and eight percent in 2025.
“All in all, we see good momentum,” said the CEO.
