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Time of India
7 hours ago
- Business
- Time of India
Heineken sees beer sales dip but keeps profit outlook
Dutch brewer Heineken sold less beer in the first half of the year, it announced Monday, as a slump in sales in Europe and the US failed to offset better performance in Asia. Global beer volumes for the world's second-biggest brewer after AB InBev came in at 116.4 million hectolitres, compared with 118.2 million in the first six months of 2024. This was also below the 117.0 million hectolitres expected in analysts' forecasts published by the company. "Notable growth in Vietnam, India... and Mexico was more than offset by declines in Brazil, the US, and parts of Europe," said the firm in a statement. Heineken stock opened around one percent lower on the Amsterdam market, which was up overall by about the same amount. The company, whose brands include Amstel, Kingfisher, and Savanna cider, maintained its full-year outlook for a gain of between four and eight percent in operating profits, its preferred metric. Heineken Chief Executive Officer Dolf van den Brink welcomed the deal clinched late Sunday between the EU and the United States that averted a possible trade war. "I think it's good that the uncertainty ends that. Further escalation has been avoided. We have now clarity going forward for Heineken," he told reporters. He said the impact of the tariffs -- a flat 15-percent rate for most EU goods into the US -- had already been baked into their profit forecasts. Virtually all of its products -- 95 percent said the CEO -- were manufactured and sold in local markets, so tariffs do not apply. "As such, the impact for us is manageable," he said. Heineken said total net sales were 14.2 billion euros in the first half year, compared with 14.8 billion euros in the first six months of 2024. This was roughly in line with expectations. The firm said this represented "organic growth" -- stripping out the impact of currency fluctuations -- of 2.1 percent. Operating profits excluding exceptional items and amortisation -- the firm's preferred measure -- came in at 2.0 billion euros, fractionally above expectations.
Malay Mail
8 hours ago
- Business
- Malay Mail
Heineken shares tumble 8pc as global beer sales fall short
AMSTERDAM, July 29 — Shares in Dutch brewer Heineken plunged Monday after it reported a drop in beer sales in the first half of the year, with volumes down in the United States and Europe. The firm's stock was among the biggest losers at the closing bell, down more than eight per cent on the Amsterdam market, which was flat overall on the day. Heineken, world's second-biggest brewer after AB InBev, reported global first-half beer volumes of 116.4 million hectolitres, compared with 118.2 million in the first six months of 2024. This was also below the 117.0 million hectolitres expected in analysts' forecasts published by the company. 'Notable growth in Vietnam, India… and Mexico was more than offset by declines in Brazil, the US, and parts of Europe,' said the firm in a statement. Heineken said total net sales were €14.2 billion (RM70 billion) in the first half year, compared with 14.8 billion euros in the first six months of 2024. This was roughly in line with expectations. The firm said this represented 'organic growth' — stripping out the impact of currency fluctuations — of 2.1 per cent. Operating profits excluding exceptional items and amortisation — the firm's preferred measure — came in at €2.0 billion, fractionally above expectations. The company, whose brands include Amstel, Kingfisher, and Savanna cider, maintained its full-year outlook for a gain of between four and eight per cent in operating profits, its preferred metric. Heineken Chief Executive Officer Dolf van den Brink welcomed the deal clinched late Sunday between the EU and the United States that averted a possible trade war. 'I think it's good that the uncertainty ends that. Further escalation has been avoided. We have now clarity going forward for Heineken,' he told reporters. He said the impact of the tariffs — a flat 15-per cent rate for most EU goods into the US — had already been baked into their profit forecasts. Virtually all of its products — 95 per cent said the CEO — were manufactured and sold in local markets, so tariffs do not apply. 'As such, the impact for us is manageable,' he said. — AFP
Japan Today
13 hours ago
- Business
- Japan Today
Heineken sees beer sales dip but keeps profit outlook
Heineken said the US tariffs would have little impact on its business Dutch brewer Heineken sold less beer in the first half of the year, it announced Monday, as a slump in sales in Europe and the US failed to offset better performance in Asia. Global beer volumes for the world's second-biggest brewer after AB InBev came in at 116.4 million hectolitres, compared with 118.2 million in the first six months of 2024. This was also below the 117.0 million hectolitres expected in analysts' forecasts published by the company. "Notable growth in Vietnam, India... and Mexico was more than offset by declines in Brazil, the US, and parts of Europe," said the firm in a statement. The company, whose brands include Amstel, Kingfisher, and Savanna cider, maintained its full-year outlook for a gain of between four and eight percent in operating profits, its preferred metric. Heineken Chief Executive Officer Dolf van den Brink welcomed the deal clinched late Sunday between the EU and the United States that averted a possible trade war. "I think it's good that the uncertainty ends that. Further escalation has been avoided. We have now clarity going forward for Heineken," he told reporters. He said the impact of the tariffs -- a flat 15-percent rate for most EU goods into the US -- had already been baked into their profit forecasts. Virtually all of its products -- 95 percent said the CEO -- were manufactured and sold in local markets, so tariffs do not apply. "As such, the impact for us is manageable," he said. Heineken said total sales were 14.2 billion euros in the first half year, compared with 14.8 billion euros in the first six months of 2024. This was roughly in line with expectations. The firm said this represented "organic growth" -- stripping out the impact of currency fluctuations -- of 2.1 percent. Operating profits excluding exceptional items and amortisation -- the firm's preferred measure -- came in at 2.0 billion euros, fractionally above expectations. © 2025 AFP
Time of India
a day ago
- Business
- Time of India
Heineken sees beer sales dip but keeps profit outlook
Heineken, the world's second-largest brewer, reported a dip in beer sales for the first half of the year due to declining demand in Europe and the US, despite growth in Asian markets like Vietnam and India. Total sales reached 14.2 billion euros, with operating profits slightly exceeding expectations. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Dutch brewer Heineken sold less beer in the first half of the year, it announced Monday, as a slump in sales in Europe and the US failed to offset better performance in Asia. Global beer volumes for the world's second-biggest brewer after AB InBev came in at 116.4 million hectolitres, compared with 118.2 million in the first six months of was also below the 117.0 million hectolitres expected in analysts' forecasts published by the company."Notable growth in Vietnam, India... and Mexico was more than offset by declines in Brazil, the US, and parts of Europe," said the firm in a company, whose brands include Amstel, Kingfisher, and Savanna cider, maintained its full-year outlook for a gain of between four and eight percent in operating profits, its preferred Chief Executive Officer Dolf van den Brink welcomed the deal clinched late Sunday between the EU and the United States that averted a possible trade war."I think it's good that the uncertainty ends that. Further escalation has been avoided. We have now clarity going forward for Heineken," he told said the impact of the tariffs -- a flat 15-percent rate for most EU goods into the US -- had already been baked into their profit all of its products -- 95 percent said the CEO -- were manufactured and sold in local markets, so tariffs do not apply."As such, the impact for us is manageable," he said total sales were 14.2 billion euros in the first half year, compared with 14.8 billion euros in the first six months of was roughly in line with firm said this represented "organic growth" -- stripping out the impact of currency fluctuations -- of 2.1 profits excluding exceptional items and amortisation -- the firm's preferred measure -- came in at 2.0 billion euros, fractionally above expectations.
Irish Times
4 days ago
- Business
- Irish Times
‘It tastes like an ashtray': Irish pubs lament the arrival of Chinese-brewed Guinness
This promises to be a good week for many Irish pubs in China , bracketed by All-Ireland finals at each end, with the British and Irish Lions ' Australian matches in between. But for some publicans, each pint of Guinness they pour this week is part of a countdown to an unwelcome change that one told me could close his business. Until recently, Guinness was shipped from Ireland and distributed in China by AB InBev , the brewing giant that makes Budweiser. But earlier this year, the company started brewing Guinness under licence in China and the reception in Irish pubs has not been good. 'The feedback from everyone is that it tastes like cigarettes or an ashtray. The taste is not the same at all and the aftertaste is terrible,' one publican told me. Almost every time I have been with a group of Irish people in China in recent months, the subject of the new Guinness has come up 'That's what the customers are saying. They refuse to drink it. We only have three kegs left of the original but other bars have the new stuff and all the people come in and say the same things.' READ MORE Almost every time I have been with a group of Irish people in China in recent months, the subject of the new Guinness has come up and I have yet to meet anyone who likes it. Most describe it as having a burnt taste and the comparison with an ashtray is a common one. 'It's a different drink altogether I'd say. The current Guinness is lovely, creamy and tastes like a great pint of Guinness you'd get back home,' said one aficionado. 'The Chinese or alternative Guinness has a slight burnt taste and doesn't taste like the original Guinness. I'd go as far to say it tastes worse than a bad pint of Guinness back home.' There are dozens of Irish-themed bars across China but a smaller number of authentically Irish pubs, many of them owned or run by Irish people. Most depend on a mixture of Chinese customers and foreigners from many countries who come for the atmosphere, to watch a match or to take part in a quiz as well as for a drink. The Irish Embassy and consulates host events for Irish citizens but it is the GAA and the network of Irish pubs that provide the social backbone of the community The Irish community in China is small and much diminished since the coronavirus pandemic, probably numbering only a couple of thousand people. The Irish Embassy and consulates host events for Irish citizens but it is the GAA and the network of Irish pubs that provide the social backbone of the community. Like Irish pubs across the world, China's double as information hubs and informal support centres, often organising fundraising efforts to help Irish emigrants in distress. And although there are not enough Irish people to keep a pub going on their own, Irish identity is a big part of the attraction of these bars, many of which are renowned for the quality of their Guinness. 'It's literally our best seller, so this could close us. All the feedback is extremely bad with the new stuff,' said one bar owner. 'We sell a lot of Guinness in the bar and people know it for Guinness. So we'd expect a drop in the customer base if we can't sell Guinness. All the reviews we get online are about Guinness, so it has a huge impact.' We regularly monitor and engage with the trade via our appropriate channels — Budweiser China spokeswoman I put these complaints to Budweiser China, who are brewing Guinness under licence and asked if they could explain why it has a different taste. I asked if they had brewed stout before and if they could do anything to improve the product. 'Guinness is produced in numerous locations around the world, and all authorised breweries of Guinness Stout adhere to consistent production standards and specifications. We regularly monitor and engage with the trade via our appropriate channels,' said a spokeswoman. 'To meet growing market demand, starting from 2025, we began producing Guinness in China, allowing consumers greater convenience in enjoying a consistent supply of fresh Guinness beer. The brewers from the Guinness Irish Team at St James's Gate, Ireland, carefully oversee all aspects of locally brewed Guinness. The Guinness stout produced in China has the smooth taste, well-balanced flavour and consistent quality Guinness is renowned for all over the world and the Guinness stout brewed in China has received a full 10/10 Guinness Technical Flavour Score.' When I asked her if this would continue to be the only Guinness available in China, she simply repeated that they started brewing it in China this year, 'allowing consumers greater convenience in enjoying a consistent supply of fresh Guinness beer'. There's nothing we can do, and we just have to suck it up — Publican in China I put the same questions to Diageo and asked if they would supply the original Guinness to pubs in China while they were improving the locally brewed product. Conscious of the importance of the Irish diaspora experience in Guinness's marketing, I told them about the importance of the pubs to China's small and fragile Irish community. 'Alongside our third-party operators, we have an unwavering commitment to delivering the highest quality, taste and experience of our products across the globe,' said a spokeswoman. Or as one publican in southern China put it when he said he saw no point in complaining, 'there's nothing we can do, and we just have to suck it up'.
