Dutch brewer Heineken sold less beer in Europe in the third quarter. The volume of beer sold fell by just over 4%, excluding the effects of acquisitions.
Although the brewing giant suffered from poor weather conditions in July and August, it was above all affected by rising prices. More and more consumers are turning away from beer because of the economic slowdown and the effects of inflation on their wallets. Overall, for all drinks companies combined, the volume of beer sold fell by around 8% in Europe.
However, higher prices did stimulate sales, which totalled €9.6 billion in July, August and September, compared with €9.4 billion in the same period last year.
Heineken's CEO, Dolf van den Brink, speaks of a "gradual improvement in commercial performance, albeit slightly slower than the original target."
In addition, market share increased, particularly in Brazil and Mexico. In Europe, sales recovered in September. Heineken revised its guidance for 2023 to a stable and slightly higher operating profit, following disappointing first-half results.
In Belgium, Heineken operates through Alken Maes, known for Maes, Cristal, Affligem and Mort subite, among others.
