Heineken cheers 20% sales rise as Birra Moretti fuels UK surge

Heineken toasted the end of covid-19 lockdowns in 2022 as revenue grew by 21.2% to €28.7 billion (£25.4 billion), while price increases and the rise of its Birra Moretti brand also helped drive UK sales up.

In the UK, net revenue was up by almost 20%, thanks to “the partial recovery of the on-trade, premiumisation and pricing”, while Birra Moretti became the country’s largest premium beer by value.

Globally, the brewing giant sold 25.69 billion litres of beer and other beverages during the year. If poured into a container with the dimensions of a typical pint glass, the vessel would be 509 metres high and tower over the 300m-high Shard, London’s tallest building.

Alternatively, a stack of individual pint glasses large enough to hold all the beverages sold by Heineken would stretch to the moon and back more than eight times.

Profit was down year-on-year at €4.3 billion, but Heineken noted that this was because its 2021 figures were boosted by remeasurement of the value of a stake in India’s United Breweries Group before it acquired a majority of the brewer that year.

While 2022 results were strong, CEO Dolf van den Brink noted that the global economy could pose challenges in 2023.

"I am pleased that we delivered a strong set of results in 2022 in a continuously challenging and volatile environment, growing ahead of the beer category in the majority of our markets,” he said. “For the coming year, the global economic outlook will remain challenging.

“We will continue to invest, whilst staying disciplined on pricing and costs.”

Heineken shares were up 2% in Amsterdam this morning to €93.00.