Heineken Financial News

Heineken retained its full-year outlook on Wednesday after the world's second largest brewer sold less beer in the third quarter but still took in more money due to higher prices and consumers opting for more expensive lagers. The Dutch maker of Europe's top-selling lager Heineken, as well as Sol and Tiger, said Brazil and Mexico were strong, Asia was improved from earlier but still down, Africa volumes were hit by declines in Nigeria and South Africa and Europe was affected by poor summer weather in July and August. Chief Executive Dolf van den Brink said in a statement that Heineken was seeing improved volume trends in half of its markets and was holding market share in just over half. «Whilst inflation-led pricing is tapering, we observe a slowdown of consumer demand in various markets facing challenging macro-economic conditions,» he said. Heineken said beer volumes fell by 4.2% on a like-for-like basis in the July-September quarter, with declines in all regions except the Americas.

BRUSSELS/LONDON (Reuters) -Heineken retained its full-year outlook on Wednesday, bolstering shares in the world's second largest brewer even as it sold less beer.

₹1,806 apiece. Despite the company's shares underperforming this year, domestic brokerage firm Nuvama Institutional Equities has remained optimistic about the firm's long-term prospects. It has a 'buy' rating on the stock with a target price of ₹1,935 apiece, indicating a 22.31 percent upside.

Dutch brewer Heineken says it has completed its withdrawal from Russia, 18 months after Moscow launched its full-scale invasion of Ukraine

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Bonds fell and stocks struggled for direction as traders parsed the latest commentary from central bankers for clues on the path for interest rates.

Kingfisher beer maker United Breweries posted its fiscal first quarter profit at Rs 136.34 crore, down 16.1 per cent in comparison to Rs 162.50 crore during the corresponding quarter of FY23. It posted revenue from operations at Rs 5243.01 crore, up 0.9 per cent as against Rs 5196.08 crore during the first quarter of previous year. The company said that the profit was dragged by higher excise duty and company costs during the quarter-under-review. The EBITDA stood at Rs 233 crore. The company clocked a total income of Rs 5253.43 crore during Q1FY24 in comparison to Rs 5206.51 crore a year earlier. However, total expenses during the quarter in review stood at Rs 5072.96 crore, up 1.7 per cent as against Rs 4988.37 crore during the first quarter of FY23. 

United Breweries Ltd has reported a 16.09 per cent decline in consolidated net profit at Rs 136.34 crore for the first quarter ended June 2023, as volumes were impacted by supply challenges, lower inter-state sales and persisting inflation. The company, controlled by Dutch multinational brewing company Heineken NV, had posted a net profit of Rs 162.50 crore in the April-June quarter a year ago, United Breweries Ltd (UBL) said in a late-night regulatory filing on Friday. UBL's revenue from operations was almost flat to Rs 5,243.01 crore during the quarter under review.

Open Championship 2023 is the 151st edition of the prestigious golf tournament and one of the four major championships in men's professional golf. It is taking place at Royal Liverpool Golf Club in Hoylake, Merseyside, England, from 20 to 23 July 2023. This marks the 13th occasion that The Open is being hosted at Royal Liverpool. Cameron Smith is the current champion, having won the 2022 Open Championship at St Andrews. The 2023 Open Championship will consist of the best 150 players from the Official World Golf Ranking as of 13 June 2023, along with any exempt players not already qualified. As golfers display their skills on the course, guests can relish a diverse selection of drinks and snacks to suit their preferences. The Open Championship is a thrilling four-round, 72-hole stroke-play tournament with 156 players, and a 36-hole cut to determine the top contenders. Throughout the exciting event, viewers can enjoy a range of beverages that bring elegance and relaxation to the occasion.

Europe to compete with rivals overseas, especially when it comes to the technology behind systems like ChatGPT. Officials at companies from French planemaker Airbus and carmaker Renault to Dutch beer giant Heineken signed an open letter to EU leaders saying the 27-nation bloc's groundbreaking legislation may put shackles on the development of generative AI. That technology gives popular AI chatbots like ChatGPT the power to generate text, images, video and audio that resemble human work.