By Maarten van Tartwijk
AMSTERDAM-- Heineken NV, the world's third-largest brewer by
sales, on Monday reported a rise in profit and revenue as the Dutch
beer maker benefited from robust sales in emerging markets and
strong demand for its premium brands.
Net profit was EUR1.14 billion ($1.25 billion) in the first six
months of 2015, up 88% from the EUR631 million it reported a year
earlier. Consolidated revenue rose 7% to EUR9.9 billion from EUR9.3
billion.
The results, which beat analysts' expectations, were lifted by
strong sales in Asia, Latin America and Africa, helping to offset
sluggish sales in Europe. Heineken also attributed the profit
increase to a strong performance of its premium brands such as its
eponymous lager, while the weakening of the euro against the dollar
and the Mexican peso also helped.
"This continued positive momentum reflects the benefit from our
exposure to high growth markets, a sustained focus on marketing and
innovation, and the ability to drive efficiencies," Chief Executive
Jean-Francois van Boxmeer said.
Shares in Heineken rose 3% in early trading, the biggest gainer
on Amsterdam's AEX benchmark.
Heineken has made a series of acquisitions in emerging markets
in recent years in an attempt to cushion the impact of declining
beer consumption in Europe and the U.S. It is also seeking to boost
sales of its more profitable premium brands, hoping to attract
young consumers.
Heineken now generates slightly more than one-third of its
revenue from Western Europe, where volumes and revenue continued to
slide in the first half, in part because of a tough comparison with
last year when sales were boosted by the World Cup and better
weather conditions.
In Mexico, Heineken's largest market following the 2010
acquisition of Femsa Cerveza, the brewer recorded volume growth in
the low-single digits, despite a slowdown in the second quarter.
Heineken said that its Mexican beers, including Dos Equis and
Tecate, are also increasingly popular in the U.S.
Beer volumes also rose in Africa and Asia, despite a challenging
economic environment in Nigeria and restrictions on beer sales in
Indonesia.
Heineken said that its flagship Heineken brand recorded 4.7%
volume growth, while other global brands, such as Desperados, a
tequila-flavored beer, and Sol, a Mexican beer, reported growth in
the double-digit percentages.
The company maintained its guidance for 2015 although it warned
that economic conditions and the pricing environment in some of its
key markets in Europe remains challenging.
Write to Maarten van Tartwijk at maarten.vantartwijk@wsj.com
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