Heineken figures focus on raw material prices and pandemic

Photo: ANP

Beer brewer Heineken will present the figures for the third quarter on Wednesday. Attention will also be paid to the corona restrictions in the Asian market. Heineken is expected to be hit hard there. The increased prices of raw materials will also be looked at.

Analysts generally expect that Heineken sold less beer on an annual basis in the third quarter. This is partly due to the impact of the lockdown measures due to the increasing number of corona infections, especially in Southeast Asia. For example, the beer group is large in Vietnam.

In the first half of the year, Heineken’s turnover increased thanks to the relaxation of corona measures in large parts of the world. The catering industry has reopened in many countries. Turnover in the first six months of 2021 grew by 14 percent on its own initiative compared to the same period a year earlier.

Food manufacturers such as Unilever expect the rise in raw material prices to continue until the middle of next year. Now that the economy is rapidly recovering from the corona crisis, there is a shortage of all kinds of materials. In addition, transport, energy and labor have also become more expensive. Investors will want to know whether the brewer can pass on the higher costs to customers.

The company expects to be able to absorb part of the costs through structural cost savings. Among other things, 8,000 jobs will be cut, it was announced earlier this year.

Heineken figures focus on raw material prices and pandemic
Source link Heineken figures focus on raw material prices and pandemic

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