Heineken Posts Strong First Half, Drops 2023 Margin Target

By: Trademagazin editor Date: 2022. 08. 01. 12:08

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Heineken has posted higher-than-expected first-half earnings, as consumers bought more beer despite inflationary pressures, but the world’s second-largest brewer shelved its margin target for 2023 as costs spiked.

The market expectation before Monday’s results was a margin of 16% next year, the same level as achieved in the first half of 2022

The brewer of Heineken, Europe’s top-selling lager, Tiger, Sol and Strongbow cider, said operating profit before one-offs rose by 24.6% to €2.16 billion, against the consensus of a 17% increase in a company-compiled poll.

Heineken previously set a target to raise its operating margin to 17% in 2023, but it cast doubts in February on achieving that due to increased economic uncertainty and sharply higher input costs.

The market expectation before Monday’s results was a margin of 16% next year, the same level as achieved in the first half of 2022.

Eurpoean Supermarket Magazine