Source: Sharecast
Heineken reported a 1.7% drop in beer volumes in the fourth quarter, with full‑year volumes down 1.2% amid a subdued consumer backdrop. However, adjusted operating profits still rose 4.4% to €4.39bn, in line with consensus estimates.
As part of its previously announced cost‑saving programme, Heineken also said it will shed between 5,000 and 6,000 jobs as part of an effort to accelerate productivity and unlock significant savings. Heineken expects operating profits to grow between 2% and 6% in the year ahead.
Outgoing chief executive Dolf van den Brink said: "Our first priority is to accelerate growth, funded by stepped up productivity and operating model changes that will involve a significant cost intervention over the next two years.
"We remain prudent in our near-term expectations for beer market conditions."
As of 0845 GMT, Heineken shares were up 4.77% at €78.14 each.
Reporting by Iain Gilbert at Sharecast.com