Report
Robert Jan Vos

Heineken : A strong start to the year with flat volumes in Q1 2021

>Heineken reported organically flat beer volumes of 50.3m hl in Q1 2021 - On an organic basis, Heineken reported flat beer volumes of 50.3m hl in Q1 2021, materially ahead of our forecast of a decline of 9.5% and consensus of -5.0%. All four of Heineken’s regions contributed to the beat, with volumes of the Heineken brand reporting stellar organic growth of 12.1% in Q1 2021. Heineken brand volumes grew by double digits in more than 40 markets and Heineken 0.0 grew by ...
Underlying
Heineken NV

Heineken is an international brewer and engaged in the production and distribution of beer brands in 178 countries. Co. is committed to the marketing and consumption of its more than 250 international premium, regional, local and specialty beers and ciders. These include Heineken®, Amstel, Anchor, Biere Larue, Bintang, Birra Moretti, Cruzcampo, Desperados, Dos Equis, Foster's, Newcastle Brown Ale, Ochota, Primus, Sagres, Sol, Star, Strongbow, Tecate, Tiger and Zywiec. In addition, Co. is the cider maker with brands such as Strongbow® and Bulmer's®. Some of its wholesalers also distribute wine, spirits and soft drinks.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Robert Jan Vos

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