Weakening demand for beer and tougher global economic conditions have hit sales for Heineken over recent months, the brewing giant said.
UK consumers nonetheless shrugged off a wider downturn with Cruzcampo sales soaring and people turning to Irish stout brand Murphy’s.
The company, which also makes Birra Moretti and Amstel, revealed that its revenues totalled 8.7 billion euro (£7.6 billion) in the third quarter, 4% lower than the same period a year ago.
This was driven largely by a drop in the volume of beer sales in North and South America and Europe.
It came as average prices rose over the period to mitigate inflationary pressures, and due to it selling a greater proportion of premium products.
The business cautioned that it was likely to sell less beer over 2025 due to weaker consumer demand.
Profit growth for the year is set to be “towards the lower end” of its 4% to 8% forecast range as a result.
Heineken, which is one of the world’s largest brewers, reported a “tough beer market” particularly in the US, where consumer sentiment was weaker and the economic environment had been affected by fears of a trade war.
Chief executive of the Dutch business, Dolf van den Brink, said “macroeconomic volatility” deepening in recent months had created a “challenging environment”.
“We expect consumer confidence and demand to recover when conditions normalise,” he said.
Nevertheless, the global company reported sales growth in parts of Africa, Vietnam and China.
It also said beer volumes edged higher in the UK, outperforming the rest of Europe, with the volume of sales of its Spanish lager Cruzcampo growing by more than 50%.
Sales of premium cider brand Inch’s were also boosted in the UK, while Murphy’s Stout was strengthened having been brought into more pubs and bars.
