Heineken N.V. Sales Jump 30% in Year, Net Up 31%

Heineken N.V. reports for 2022 revenue grew 30.4% and net profit surges 30.7%.

"Our premium portfolio continued to outperform, led by the excellent momentum of the Heineken® brand and further propelled by the roll-out of Heineken® Silver. We are innovating to expand our leadership positions in non-alcoholic and in beyond beer. We are accelerating the deployment of our business-to-business digital platforms and continued the decarbonisation of our breweries. The progress on these and many other initiatives make us confident that our EverGreen strategy is on course to deliver long-term, sustainable value creation," Dolf van den Brink, chairman of the executive board/CEO, said.

Overall beer volume grew 3.5%, but in the Americas volume declined 0.5%. Premium beer volume grew 11.4% versus last year and came 15.6% ahead of 2019, organically. Heineken N.V.'s premium brands outperformed the total portfolio in the majority of its markets and accounted for more than half of the company's total organic growth in beer volume in 2022.

This growth is led by Heineken, up 12.5% versus last year (14.5% excluding Russia) and 31.5% relative to 2019, significantly outperforming the total beer market. The growth was broad-based with more than 50 markets growing double-digits in 2022. The strong growth was led by Heineken Original, bolstered by the remarkable performance of its line extensions. Heineken Silver more than doubled its volume, driven by excellent performances in Vietnam and China and its global rollout, reaching 28 markets in total by the end of 2022.

Amstel grew volume in the mid-twenties, with more than 15 markets growing double-digits, with a particularly strong performance in Brazil and continued momentum behind Amstel Ultra, the company said.

Birra Moretti grew in the mid-teens versus last year, sharing the true taste of Italy across Europe, with outstanding growth in the Netherlands, Serbia, Romania, Switzerland and Ireland. In the UK, Birra Moretti more than doubled its volume versus 2019 and became the market leader of the premium segment by value. 2022 was the year of the Tiger; the brand roared back to volume growth of more than 40%, driven by the recovery in Southeast Asia, the success of Tiger Crystal and continued growth in Nigeria and Brazil.

"We believe in empowering consumers seeking to enjoy a lower or no-alcohol-content beverage by ensuring there is always a choice – everywhere and on any occasion. Meeting this consumer need, our Low & No-Alcohol (LONO) portfolio grew by low-single-digit as continued momentum in the majority of our markets was partially offset by declines in Egypt, Russia and Poland. Our non-alcoholic beer and cider portfolio grew by mid-single-digit, led by the growth of Heineken 0.0 in the low-teens in Europe and the Americas regions.

The company said its outlook for 2023 is unchanged.