Heineken sales hit by Russia exit and higher beer prices

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 &…