Heineken reported that during 2024 in Mexico, its net sales were affected by the presidential elections and the devaluation of the peso against the dollar. Although net income grew in the mid-single digits, with a low single-digit increase in volume slightly behind the market, the company noted that there were no significant changes in the second half of the year.
Amid the devaluation of the Mexican peso and local elections impacting consumption, Heineken reported achieving solid organic operating profit growth thanks to its strong portfolio, revenue management initiatives, and productivity benefits. The company is currently expanding its production capacity in Mexico with the commissioning of a new can plant in Meoqui and the construction of a new brewery in Yucatán.
During the year, Heineken's beer volume increased organically by 1.6 percent, with growth across all regions, notably India, Nigeria, Vietnam, Brazil, and Mexico. Despite challenges, the company has expectations for continued growth in volume and revenue in the future.
In 2024, Heineken achieved or maintained market share in volume in more than half of its markets, with beer volume growth of 0.8 percent led by Brazil, Mexico, and Panama. Heineken 0.0 had a mid-single-digit volume increase and remains the leading non-alcoholic brand in the market.
Regarding the eB2B platform, Heineken has over 160,000 active customers. However, in the same year, the company faced conflicts with local producers in Mexico due to the reduction in the price it pays per ton of barley.
Heineken mentioned that the Dos Equis brand had solid high-single-digit growth and Tecate Original grew in the mid-single digits. Local producers considered this price reduction to be unfair and detrimental to their economy, leading to criticism and protests toward the company.
