United Breweries Ltd is yet to announce its quarter numbers for January-March. As per a regulatory filing, UBL’s board is scheduled to meet on April 26 to consider the audited financial result for the quarter and year ended March 31, 2022
Leading beer maker United Breweries Ltd (UBL) witnessed a “high-single-digit” volume growth in the domestic market during the January-March 2022 quarter, according to its largest stakeholder Heineken.
Moreover, the consolidation of UBL in India has “positively impacted net revenue” by 200 million euro, Dutch brewing major Heineken said on Wednesday in its earnings statement for the first quarter of 2022.
“In India, beer volume grew by a high-single-digit, outperforming the market. UBL experienced progressive growth during the quarter with the declining impact of the COVID-19 omicron variant,” it said. The Asia Pacific region, under which India falls, has returned to growth following the lockdown in the second part of last year, Heineken added.
Heineken’s Asia Pacific net revenue grew 9.2 percent organically, with total consolidated volume rising by 2.8 percent. “The consolidation of UBL in India positively impacted net revenue by Euro 200 million or 4.6 percent,” it said.
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Its beer volume increased organically by 2.8 percent over the last year, led by the strong recovery of Cambodia and Malaysia. “The premium portfolio declined by a low-single-digit, driven by Vietnam while staying ahead of 2019 by a high-single-digit,” it said.
UBL, a listed entity here, is yet to announce its quarter numbers for January-March. As per a regulatory filing, UBL’s board is scheduled to meet on April 26, 2022, to consider the audited financial result for the quarter and year ended March 31, 2022.
In the first quarter, Heineken’s global net revenue was 5,753 million euro and increased by 24.9 percent organically, with total consolidated volume growing by 5.7 percent. Heineken now owns 61.5 percent stake in UBL. Last year, it acquired additional ordinary shares in UBL, taking its shareholding in the company from 46.5 percent to 61.5 percent.