In its most recent financial report, Heineken confirmed that its global profits had increased significantly in the first half of 2022, largely as a result of the end of COVID-19 restrictions and increased beer prices.
Heineken has seen turnover increase significantly so far in 2022 compared to last year, recording a net profit of 1,3 billion euros in the first six months of the year - a 22 percent growth compared to 2021.
“We are encouraged by the results for the first half of the year,” says CEO Dolf van den Brink. “Our actions on pricing, revenue management and productivity offset significant inflationary pressures in our cost base. As a result, operating profit is now firmly ahead of 2019.”
With governments around the world abolishing coronavirus restrictions in the early months of 2022, Heineken has seen sales increase as bars and restaurants reopened their doors to customers. In spite of the high rate of inflation and the rising prices - both in the Netherlands and abroad - Heineken’s CEO notes that demand for beer remains high.
“Consumers returned to the bars, and demand is resilient despite mounting inflationary pressures on consumers' disposable income,” Van den Brink explains. In addition to increased demand, the Dutch brewery has benefited from higher prices, after raising prices for bars and restaurants earlier this summer.