Heineken Holding N.V. reports revenue grew 35.9% in the first quarter (24.9%, organic) as beer volume grew 5.2% organically. Heineken’s volume rose 12.9%.
Net revenue (beia) per hectolitre was up 18.3%, driven by assertive pricing and premiumization across all regions, as well as a positive channel mix effect, particularly in Europe. Currency translation positively impacted net revenue (beia) by €186 million or 4.3%, mainly driven by the Brazilian Real, the Mexican Peso and the Vietnamese Dong. The consolidation of United Breweries Limited (UBL) in India positively impacted net revenue (beia) by €200 million or 4.6%.
Premium beer volume grew 6.3%, outperforming the portfolio in most Heineken’s markets in the first three months of 2022. Heineken’s growth in premium is driven by Heineken, which grew 12.9% in volume, significantly outperforming the total beer market and ahead of 2019 by close to one-third. Volume grew double-digits across all regions and in more than 45 markets. Growth was mainly driven by Brazil, China, the Netherlands, Spain, Ireland, Italy, the UK, Portugal, Nigeria, and the United Arab Emirates. Heineken 0.0 grew in the twenties with strong momentum in Brazil, Mexico, the USA, Chile and South Korea. Heineken Silver continued its strong growth in Vietnam and China.