Heineken’s profit beats forecasts after Asia rally

Heineken's profit beats forecasts after Asia rally

Heineken (AS:HEIN), the world’s second-largest brewer, posted higher-than-expected profit in 2022 thanks to growth in all markets and a strong rebound in Asia, after which it reiterated its forecast for profit growth this year.

Europe’s best-selling beer maker Heineken, along with lagers Tiger and Sol, said its operating profit before non-recurring items rose 24.0 percent to 4.500 billion euros ($4.820 billion), compared with an average of 4.430 billion euros in a survey by the company.

The Dutch brewer maintained its forecast that its operating profit will increase by a mid- to high-single-digit percentage in 2023.

The brewer sold 6.9% more beer worldwide than in 2021, with a faster rise in higher-priced “premium” beers. Sales in Asia rose by almost a third, a rebound that came a year after COVID-19 restrictions went into effect in Cambodia, Indonesia, Malaysia and its biggest Asian market, Vietnam.

(1 dollar = 0.9338 euros)

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