Heineken's Cheers: A Round of 7.2% Revenue Growth in Q1
Portfolio Pulse from Lekha Gupta
Heineken NV (OTC:HEINY) reported a 7.2% Y/Y revenue growth in Q1 FY24, reaching 8.18 billion euros, driven by a 4.3% volume growth and a 4.9% increase in net revenue per hectolitre. Beer volume grew 4.7% organically across all regions, surpassing company expectations of 2.5%. The growth was attributed to the earlier timing of Easter and one-off effects in Vietnam and Nigeria. The company expects FY24 operating profit to grow by a low- to high-single-digit percentage, with net profit growth expected to be lower. HEINY shares rose 1.39% to $49.71.
April 24, 2024 | 6:13 pm
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POSITIVE IMPACT
Heineken NV reported a 7.2% revenue growth in Q1 FY24, with shares rising 1.39% to $49.71, indicating positive market response to the earnings report.
The reported 7.2% revenue growth and a 4.7% organic increase in beer volume for Heineken NV in Q1 FY24, along with the positive outlook for FY24 operating profit, are likely to instill investor confidence and contribute to a positive short-term impact on HEINY's stock price. The share price increase of 1.39% following the announcement further supports this positive outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100