The Dutch brewer Heineken announced on Wednesday that its 2022 sales increased after it boosted prices in response to rising inflation, but its net income decreased.
The manufacturer of Heineken, Amstel, and Sol beers reaffirmed its prediction for 2023, predicting a mid- to high-single-digit increase in operating income.
The second largest brewer in the world, after AB Inbev, recorded a net profit of 2.7 billion euros ($2.9 billion) for last year, 19 percent less than in 2021.
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The corporation hiked prices in response to rising costs, and volumes returned to pre-pandemic levels, resulting in a “sharp” comeback in the Asia-Pacific area. Revenue increased by more than 30 percent to about 35 billion euros.
Dolf van den Brink, the chief executive officer of Heineken, said in a statement, “I am pleased that we delivered a strong set of results in 2022 despite the challenging and volatile environment.”
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“We achieved balanced growth by maintaining competitive pricing, advancing our productivity initiative, and continuing to invest in our brands and capabilities,” he said.
As bars and restaurants shuttered due to Covid limitations, Heineken was forced to shed 8,000 jobs, or 10 percent of its employees, as it slid into the negative.
“The global economic outlook for the coming year will remain challenging,” stated van den Brink. “We will continue to invest while maintaining pricing and cost discipline.”
»Heineken sales climb due to price increases, but earnings decline«
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