London - Heineken NV, the world’s third-biggest brewer, reported beer sales that advanced more than analysts estimated, helped by demand for its beers in Asia.
Beer volume rose 2.2 percent versus the 1.4 percent median estimate of 13 analysts surveyed by Bloomberg News, the Amsterdam-based company said on Wednesday. Revenue increased 2 percent, compared with the 2.3 percent median estimate. Both figures are reported on a so-called consolidated basis, and exclude acquisitions, disposals and currency swings.
Heineken, which also reiterated its full-year guidance, is anticipating stronger sales and profit in 2015 despite volatility in some emerging markets, where it generates nearly two-thirds of operating profit. The Desperados brewer is regrouping its business around four geographic regions, including a single European unit, which just added Slovenia’s biggest brewer in a deal valued at 114 million euros ($122 million.)
“Volumes were once again strong in Asia Pacific and Americas, offset by slightly lower volumes in Europe and more subdued volume growth in Africa Middle East,” Chief Executive Officer Jean-Francois van Boxmeer said in the statement. Beer volumes in Asia rose 11 percent, beating analysts’ estimates.
Heineken gained control of the beer business of Mexico’s Femsa in 2010, giving Femsa a 20 percent interest in the Dutch company. The lockup period on a sale of that stake ends May 1, leading to speculation about the company’s future.
Heineken rose 2.7 percent to 75.75 euros in Amsterdam trading on Tuesday, boosting this year’s gain to 28 percent.
Bloomberg