Heineken 1Q Profit Rose on Higher Volumes
April 21 2021 - 2:54AM
Dow Jones News
By Matteo Castia
Heineken NV said Wednesday that net profit rose in the first
quarter on the back of higher volumes in more than 40 of its
markets.
The Dutch brewer posted a net profit of 168 million euros
($202.2 million) for the quarter, compared with EUR94 million in
the year-earlier period and EUR299 million in the comparable period
in 2019.
The company said volume for the Heineken brand rose 12%
year-on-year, driven by progress in Eastern Europe, Africa, Middle
East, Asia Pacific, and at a more modest pace, the Americas.
Europe was in decline as on-trade was hurt by the coronavirus
pandemic and associated restrictions, Heineken said.
"We expect market conditions to gradually improve into the
second part of the year, depending on the roll-out of vaccines,"
the company said.
Write to Matteo Castia at matteo.castia@dowjones.com
(END) Dow Jones Newswires
April 21, 2021 02:39 ET (06:39 GMT)
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