Heineken beats expectations in H1, drops 2023 margin target

08/01/2022

Less than a minute

2022.08.01 08:22

Heineken beats expectations in H1, drops 2023 margin target
FILE PHOTO: Heineken beer bottles are seen at a bar in Monterrey, Mexico June 20, 2017. REUTERS/Daniel Becerril/

BRUSSELS (Reuters) – Heineken (OTC:HEINY) NV, the world’s second-largest brewer, posted higher-than-expected first-half earnings on Monday as consumers bought more beer despite inflationary pressures, but the company dropped its margin target for 2023 due to higher costs.

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 euros ($2.21 billion), against the consensus of a 17.0% increase in a company-compiled poll.

($1 = 0.9783 euros)

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08/01/2022

Less than a minute