Heineken revenues climb to €8.2bn after price hikes

Heineken said its prices rose by an average of 6% globally in line with inflation. 

Dutch drinks giant Heineken has seen revenues climb to €8.2bn during the first months of the year as it benefits from price increases worldwide.

Between January and March this year, the company’s revenue increased by over 7% compared to the same period in 2023. On average, prices increased 6% during that period with Heineken claiming that this was in line with inflation.

The company noted that sales volumes grew in all regions boosted by an early Easter.

Beer volume sales grew by 4.7% while its premium beer ranges grew by 7.3%. Sales of Heineken alone grew by 12.9%.

Chief executive of Heineken Dolf van den Brink said despite the positive start to the year, the economic environment is “challenging and uncertain”.

The company said its outlook for the year remains unchanged with operating profit expected to grow slightly.

This trading update from Heineken comes less than a week after the company announced another round of price increases adding 6c to the cost of a pint from June 4.

It said the increase is due to rising underlying costs.

The 6c increase is added to the wholesale price of Heineken’s products which does not include the additional Vat and excise duty that has to be paid when it is served in a pub. This means the actual price increase on customers will likely be much higher.

Heineken had previously hiked prices in December 2022 by 17c per pint.

The company also produces Orchard Thieves, Beamish, and Murphy’s.