Heineken Holding (HEINY) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you, everyone, from Amsterdam. Thank you for joining us for today's live webcast of our 2025 Q1 Trading Update. Your host will be Harold van den Boek, our Chief Financial Officer. Following the presentation, we will be happy to take your questions. The presentation includes forward-looking statements and expectations based on management's current views and involve known and unknown risks and uncertainties, and it is possible that the actual results may differ materially. For more information, please refer to the disclaimer on the first page of this presentation. I will now turn the call over to Harold. Thank you, Tristan, and welcome, everyone. Thank you for joining us today. Let me take a few minutes to give you a brief summary of the quarter and, as Tristan said, open then for questions. First slide. We delivered net revenue growth in the first quarter of almost 1%, despite operating in a challenging consumer and geopolitical environment. As anticipated and as we highlighted during our full year results, primarily due to calendar related factors, we have seen a soft start to the year with bigger volume decline to a percent. Yet we are pleased to see our evergreen strategy continue to shape our business. We maintained high quality growth with our premium portfolio and growth led by Heineken. We are also gaining or holding share in over half of our markets in the first quarter. Especially Vietnam, India, Ethiopia delivered good volume growth as a result of strategic actions taken in all of these markets to boost competitiveness. We also see continued strength of our brands in large markets such as Brazil, where we have gained volume and value share according to sellout data, and in China, where we are outperforming the market with Heineken and recently also Ams...