Heineken warns ‘crazy’ inflation will drive up the price of your pint and ‘may lead to softer beer consumption’
Heineken warned the cost of doing business was ‘off the charts’
Heineken warned the cost of doing business was ‘off the charts’ – pushing up the price of a pint. The Dutch brewing group said it will raise its prices as it is buffeted by increased energy, shipping and commodity bills.
The company, which also brews Amstel and Birra Moretti, conceded these price rises ‘may lead to softer beer consumption’ as shoppers face an increased cost of living.
Heineken’s chief executive Dolf van den Brink told the FT: ‘In my 24 years in the business, I’ve never seen anything like it, not even close. Across the board we are faced with crazy increases. It’s kind of off the charts.
‘So it’s anybody’s guess what the impact is going to be on volumes due to all these price increases.’
In its update yesterday, Heineken reported an 11.3pc in revenues to £13.4bn in 2021, while profit jumped 80pc to £1.7bn. Beer volumes increased by 4.6pc over the year, with this buoyed by a 6.2pc rise over the final three months as it benefitted from reduced restrictions in Europe.