Heineken sells more beers as demand for more expensive brands grows

Brewing giant Heineken said it sold more beers around the world last year with demand for premium brands growing, but warned over persistent weak consumer sentiment in Europe.

Shares in the Dutch business, which also owns brands including Amstel, Moretti and Desperados, surged after posting a higher yearly profit.

It reported a 1.6% increase in the volume of beers sold across its global markets over 2024, compared with 2023.

This was partly driven by growth for brands it labels as premium including a 9% jump in volumes of Heineken, with Birra Moretti also selling well.

Its Heineken 0.0% non-alcoholic beer also saw volumes grow by a 10th year-on-year.

Operating profits rose by about 8% to 3.5 billion euro (£2.9 billion), with the company benefiting from making productivity savings worth 600 million euro (£500 million) which helped it inject more cash into marketing and selling initiatives.

It is expecting profits to grow further over 2025, by between 4% and 8%.

Total revenues nonetheless dipped 1.2% year-on-year to 36 billion euro (£30 billion), with the value of sales impacted by the weakening of currencies in Nigeria, Brazil and Mexico.

The group, which has some 85,000 employees, hailed the success of launching Spanish lager brand Cruzcampo into UK supermarkets, as well as a more than 40% jump in the volume of Inch cider sales.

Nevertheless, Heineken said pubs and bars in parts of Europe were seeing less demand, following price hikes and weaker consumer confidence.

This sentiment, as well as ongoing inflationary pressures and wider “geopolitical fluctuations” could create challenges into 2025, according to the group.

Shares in the Amsterdam-listed company were up by more than a 10th on Wednesday morning.