Heineken cautious on 2024 profits amid economic volatility

Beer brewers hiked prices significantly throughout 2023 to offset steep increases in their costs, which hurt volumes.

Heineken said its price increases had often led the market. Pic: REUTERS/Kham//File Photo

Dutch brewer Heineken forecast single digit percentage growth in operating profit in 2024, citing volatility in geopolitics and economic conditions, which could deliver a result below market expectations.

Analysts on average expected the world's second-largest brewer to achieve 9.9% organic operating profit growth in its 2024 financial year, according to consensus estimates.