HEINEKEN Holding NV reports on 2024 third-quarter trading

Core Insights - Heineken Holding N.V. reported a revenue of €9,072 million for Q3 2024, with a year-to-date revenue of €26,895 million, reflecting a net revenue (beia) organic growth of 3.3% for the quarter and 5.1% year to date [1][2][6] Financial Performance - The total consolidated volume increased by 0.7% in Q3 2024, with a year-to-date increase of 1.3% [2][3] - Net revenue (beia) per hectolitre rose by 2.6% for the quarter and 3.7% year to date [2] - Price-mix on a constant geographic basis increased by 3.0% for the quarter and 4.3% year to date, driven by pricing strategies to counter inflation and premiumisation of the portfolio [2][3] Volume Growth - Beer volume organic growth was 0.7% for Q3 2024 and 1.6% year to date, with growth in Europe and Africa & Middle East offsetting slight declines in the Americas and Asia Pacific [3][4] - Premium beer volume saw an organic growth of 4.5% for the quarter, led by Brazil, South Africa, and India [4] - Heineken® brand volume grew by 8.7% for the quarter and 9.0% year to date, with double-digit growth in 30 markets [4][6] Business Outlook - Heineken confirmed its full-year expectations of 4% to 8% operating profit (beia) organic growth for 2024 [1][6] - The company is increasing investments in its brands to focus on long-term sustainable growth opportunities [6] Currency and Consolidation Impact - Currency translation negatively impacted net revenue (beia) by €471 million for the quarter and €1,097 million year to date, primarily due to the devaluation of several currencies [2][7] - Consolidation effects reduced net revenue (beia) by €132 million for the quarter and €81 million year to date, mainly from the disposal of operations in Russia and Vrumona [2][7] Digital Business Performance - Heineken's business-to-business digital platforms captured €9.3 billion in gross merchandise value year to date, representing a 26% organic increase compared to the previous year [2]