Heineken sells more beer and has already cut 3,000 jobs

Somewhat contrary to expectations, Heineken sold more beer in the first half of this year, though not in Europe. The cost-cutting program, which will result in the loss of 6,000 jobs, is halfway through.

Strong growth in non-alcoholic beverages

Heineken’s net revenue rose by 2.7% to 14.8 billion euros in the first half of the year, while adjusted operating profit grew by 6.7% to 2.17 billion euros. This was partly due to price increases, but the 1.6% rise in volumes was a pleasant surprise: analysts had expected a decline. Sales did indeed decline in the U.S., and they also fell in Europe, although there was slight growth again in the second quarter. Growth came from Asia, Africa, and the Middle East, and particularly from licensees. Non-alcoholic beverages grew by 12%.