Heineken beer boost offset by higher aluminum costs

30.07.2019 17:42 "Agro Perspectiva" (Kyiv) — As of yesterday, Heineken NV (HEIN.AS) missed estimates for first-half profits, as higher packaging costs offset boosted beer sales, but the world second-largest brewer stuck with its full-year profit growth forecast, Reuters reports. As to the report, the Dutch maker of Heineken, European top-selling lager, said operating profit before one-offs would rise by a mid-single-digit percentage within 2019 after a slim 0.3% boost registered within Jan-Jun 2019 period. As to the report, Heineken will benefit this year from boosted sales, higher prices and a consumer shift to more expensive beers. But the company also warned input and logistics costs would rise by a mid-single-digit percentage over the year. Heineken’s input costs within Jan-Jun 2019 rose 8.5%, basically thanks to aluminum used within packaging. In meanwhile, Chief Financial Officer Laurence Debroux told Reuters in a telephone interview that the company hedges on aluminum had been less favorable than the last year ones. Besides, the Heineken emerging market operations had also been hit by having to pay hard currency for raw and packaging material with, for example, a weaker Brazilian real. Costs also boosted because of e-commerce investment and an IT upgrade and some sponsorship costs more skewed to this year first half.

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