Dutch brewer Heineken on Wednesday warned that its 2025 beer sales would fall as macroeconomic challenges worsened, Reuters reports.
In a statement, the brewer said it expected volume to “decline modestly” in 2025.
Its shares slid more than 8% in July when it warned that annual volumes would be broadly stable, rather than grow.
The development further downgrades its volume guidance after it was punished for a similar move a quarter ago.
The company reported a 0.3% decline in third-quarter net revenues, just beating analyst expectations for a 0.8% dip.
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The brewer and its rivals have been battling to restore lacklustre volume growth for years.
While brewers have largely been able to offset declines with price increases, investors are increasingly focused on the amount of beer sold.
Annual organic operating profit would also be at the lower end of its 4% to 8% range, the brewer said.
Heineken’s third-quarter sales were hit in particular by weak demand for its beers in Latin America and Europe.
Consumer sentiment has been rocked by trade tensions in key markets like Brazil, and Heineken has lost shelf space in its home region after a pricing dispute with retailers.
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