Heineken's Q1 Beer Sales Beat Analysts’ Estimates
Heineken NV, the world’s third-biggest brewer, reported beer sales that advanced more than analysts estimated, helped by demand for its beers in Asia.
Beer volume rose 2.2 per cent versus the 1.4-per-cent median estimate of 13 analysts surveyed by Bloomberg News, the Amsterdam-based company said.
Revenue increased 2 per cent, compared with the 2.3-per-cent median estimate. Both figures are reported on a so-called 'consolidated basis' and exclude acquisitions, disposals and currency swings.
Heineken, which also reiterated its full-year guidance, is anticipating stronger sales and profits in 2015, despite volatility in some emerging markets, where it generates nearly two thirds of operating profit. The Desperados brewer is regrouping its business around four geographic regions, including a single European unit, which just added Slovenia’s biggest brewer in a deal valued at €114 million ($122 million.)
“Volumes were once again strong in Asia Pacific and Americas, offset by slightly lower volumes in Europe and more subdued volume growth in Africa Middle East,” chief executive officer Jean-François van Boxmeer said. Beer volumes in Asia rose 11 per cent, beating analysts’ estimates.
Heineken gained control of the beer business of Mexico’s Femsa in 2010, giving Femsa a 20-per-cent interest in the Dutch company. The lock-up period on a sale of that stake ends 1 May, leading to speculation about the company’s future.
Heineken rose 2.7 per cent to €75.75 in Amsterdam trading, boosting this year’s gain to 28 per cent.
News by Bloomberg, edited by ESM