HEINY Heineken Nv (QX)

By Kyle Morris

Heineken NV said Wednesday that net profit and revenue increased for the first quarter of 2022 as it benefited from strong channel mix and assertive pricing.

The Dutch brewer posted a net profit of 417 million euros ($449.8 million) for the first three months of 2022 compared with EUR168 million a year earlier, driven by top-line growth, with the partial recovery of on-trade--bars, clubs, hotels and restaurants--in Europe.

Revenue for the period was EUR6.99 billion compared with EUR5.15 billion a year earlier.

Beer volume grew 5.2% organically on year and was 2.8% ahead of 2019 on an organic basis. All regions contributed to the growth, especially Europe, it said.

"We had a solid start to the year, in line with our expectations, especially benefiting from strong channel mix from the partial on-trade recovery of Europe and assertive pricing across all regions," Chief Executive Dolf van den Brink said.

Write to Kyle Morris at kyle.morris@dowjones.com

(END) Dow Jones Newswires

April 20, 2022 02:40 ET (06:40 GMT)

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