Beer brewer Heineken has sold more beer than expected in the first three months of this year.
Consolidated beer volume grew 44% to 33.8 million hectolitres, due to the first time consolidation of the beer operations of FEMSA and an organic volume increase of 5.5%. All regions contributed to the organic growth. Volume of the Heineken® brand in the international premium segment grew 5.7%, reaching 6 million hectolitres;
Revenue increased by 22% to €3,591 million. Organically, revenue grew 3.6%, as a result of higher volumes, whilst price and sales mix was stable. The net impact from consolidation scope changes contributed €518 million, with favourable exchange rate movements contributing a further €32 million.
Heineken remains confident in continued positive volume development in Latin America, Africa and Asia. Whilst they are witnessing gradually improving economic conditions in a number of countries in Europe and in the USA, consumers remain cautious with their spending behaviour, particularly in on-trade channels.
Heineken is focusing on increasing value and volume share in its key markets, supported by higher marketing investment and innovation. The Company targets an expansion of its high margin product portfolio, including the Strongbow Gold cider and Desperados brands.
The new global multi-media campaign for the Heineken® brand will be launched in 30 markets in the first half of the year, including the key markets of USA, UK, Spain, Greece, Poland and Canada. The higher planned marketing spend in 2011 is expected to affect profit development in the near term, particularly across our European region.