News Stock Market

Heineken 2021 profit beats expectations, company warns on inflation

Heineken (OTC:HEINY) reported higher earnings than expected in 2021 as the world’s second largest brewer raised prices and shifted consumers to more expensive beers and drove through cost savings.

The brewer of Europe’s top-selling lager Heineken, Tiger, Sol and Strongbow cider, said on Wednesday the COVID-19 pandemic would still affect 2022 revenues and the impact from inflation and supply chain pressures would be significant.

“Whilst continuing to target 17% operating margin (beia) in 2023 and operating leverage beyond, there is increased uncertainty given current and evolving economic and input cost circumstances,” the company said in a statement.

Leave a Reply

Your email address will not be published. Required fields are marked *