New Heineken CEO Rafael Oliveira announced the company’s first results under his leadership on Wednesday, reporting revenue and volume growth of more than 4% in the third quarter, thanks to strong demand in Asia.
Oliveira succeeded Dolf van den Brink earlier this month, who unexpectedly stepped down in January, only months after unveiling a refreshed strategy and targets for the world’s second-largest brewer.
Heineken Q3 highlights include:
- Total volume grew 4.8% (YTD: 2.7%), with consolidated volume 3.9% (YTD: 1.6%), licensed volume 19.5% (YTD: 21.8%).
- Net revenue grew 4.6% (YTD: 3.4%), net revenue per hectolitre up 0.7% (YTD: 1.7%).
- Price-mix on a constant geographic basis up 1.8% (YTD: 2.4%).
- Gained or held share in more than two-thirds of our markets.
The company reported all four regions in volume and revenue growth, with the Americas returning to growth on an easier comparison base.
Oliveira told investors, “Joining HEINEKEN at a time when our teams are delivering solid results while remaining focused on implementing our strategy is a real privilege. My first impressions are positive, particularly the strength of our brands, the commitment of our people, and the growth potential across our geographic footprint. We have strong foundations, but we are not translating them into consistent growth and winning with consumers and customers as often as we should. There is more to do to sharpen execution, increase pace, and build a stronger performance culture, with greater accountability across the business.”
“These first weeks have been about listening, learning, and understanding. I look forward to sharing more of my perspective when we report our full-year results,” he concluded.
Heineken shares rose 2% following the announcement.
By CEO NA Editorial Staff
