Heineken Holding's 1st Half Revenue Jumped 6.3%, Net Slipped 8.6%

Heineken Holding N.V. reports for the first half of 2023, revenue was 6.3% higher than a year earlier.  Beer volume organic growth was negative 5.6%; Heineken posted a 1.7% growth, excluding Russia, and net profit rell 8.6%.  The company, which holds shares of Heneiken, said the Americas region "was impacted by a soft beer market, notably in the second quarter, combined with the continuing impact from OXXO mixing in Mexico."

Premium beer volume declined by 6.5%, driven by Vietnam and Russia. Outside these markets, premiumization trends remain strong as premium volume grew by a low-single-digit, ahead of the total beer portfolio in aggregate and in more than half of Heineken's markets. The growth was driven by Heineken, further supported by the growth of Desperados, Birra Moretti, Beavertown, Bedele Especial and El Águila among others.

Heineken continued to lead Heineken's portfolio and grew volume by 1.2% (2.1% excluding Russia) in the second quarter to close the first half with a 1.7% increase (3.7% excluding Russia). Growth was broad-based across 50 markets, most notably in China, Brazil, Mexico, Ethiopia, Panama, Portugal, Croatia and Algeria. Heineken Silver is now present in 45 markets and grew volume by more than forty-five percent, led by China, Vietnam and Mexico. The company said it continues to build Heineken Silver across European markets and the launch in the USA shows promising early results as we scale distribution and reach more and more consumers.

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