Heineken Holding returned to profits for 2021, which were higher than expected, although the company warned that it expects to be significantly affected by inflationary pressures.
The Dutch brewery – which has Sol, Moretti and Tiger in its portfolio – said it expects significant pressures from inflation and supply chain problems in 2022, as it continues to navigate an uncertain environment and that it will raise prices to offset the increases.
“We will offset these cost increases through pricing in absolute terms, which could lead to milder beer consumption,” the company said.
Heineken reported a net profit of 3.32 billion euros compared to a loss of 204 million euros in 2020, and against convergent estimates of 2.28 billion euros.
The second largest brewery in the world stressed that adjusted operating profits increased organically to 3.41 billion euros from 2.42 billion euros.
Convergent estimates put the figure at 3.3 billion euros.
The margin for adjusted operating profit for the year was 15.6%. Net income for the year increased to 21.94 billion Euros from 19.72 billion Euros.
The BoD has announced a dividend of 1.24 euros per share, compared to 70 cents a year ago.
Source: Capital
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