In this photo illustration, bottles of Heineken beer are displayed on July 31, 2023 in San Anselmo, California.
Justin Sullivan | Getty Images
Heineken beer sales fell in the third quarter as the Dutch brewer completed the long-awaited exit of its Russia operations and consumers were put off by higher prices.
Volumes were down 4.2% on the previous year, taking the decline across the first nine months of 2023 to 5.1%. Revenue was nonetheless higher in the quarter due to price hikes, up 2% to 9.604 billion euros ($10.17 billion).
Heineken shares were 2% higher in early trade.
Americas sales were a lone bright spot, increasing 2.2%, as Europe sales dropped 8.6% and its Africa, Middle East &…