By Heineken NV said Wednesday that net profit and revenue increased for the first quarter of 2022 as it benefited from strong channel mix and assertive pricing.
The Dutch brewer
HEIA,
+3.45%
posted a net profit of 417 million euros ($449.8 million) for the first three months of 2022 compared with EUR168 million a year earlier, driven by top-line growth, with the partial recovery of on-trade–bars, clubs, hotels and restaurants–in Europe.
Revenue for the period was EUR6.99 billion compared with EUR5.15 billion a year earlier.
Beer volume grew 5.2% organically on year and was 2.8% ahead of 2019 on an organic basis. All regions contributed to the growth, especially Europe, it said.
“We had a solid start to the year, in line with our expectations, especially benefiting from strong channel mix from the partial on-trade recovery of Europe and assertive pricing across all regions,” Chief Executive Dolf van den Brink said.
Write to Kyle Morris at kyle.morris@dowjones.com
