Heineken Holding N.V. Shares Rise After Q3 Results

Shares of Heineken Holding N.V (AS:HEIN) (AS:HEIO) edged higher following their third-quarter results, which were largely aligned with market expectations, suggesting stability after a turbulent reporting period.

At 3:35 AM (0735 GMT), Heineken was trading 1.4% higher at €66.85.

The company reported an organic revenue growth of 3.3%, matching consensus estimates that had been lowered in recent weeks. Despite facing long-term challenges, Heineken reaffirmed its guidance for an operating profit growth of 4%-8% for the year.

Quarterly performance across regional markets was steady, with the Africa and Middle East division posting a 23.1% growth; however, this was partially offset by a 20% negative impact from currency fluctuations, diminishing the overall significance of that growth figure.

Overall, Heineken’s results were characterized as broadly in line with expectations.

In the latter half of the year, the company plans to increase marketing investment. Analysts at RBC Capital Markets noted, “We believe Heineken needs to step up investment given its premium portfolio and price increases ahead of peers.”