The world’s third largest brewer, Heineken, saw third-quarter revenue rise only 0.2% to €5.1 billion ($6.5 billion) from last year. Why? Some blame the rain the Spain. It has been a wet summer in Europe which does affect the consumption of beer there. Developing nations including Nigeria also saw a lot of rainfall–and less beer drinking. SABMiller (Foster’s, Molson, Coors) also reported lower volumes in the wet July-September months allegedly due to a soggy summer in China.
So what’s a beer maker to do? Look for dry land this winter. Heineken’s Chief Financial Officer Rene Hooft Graafland said: “Q4 and especially December is a key month for Mexico, Nigeria, for the UK December is also a key month.” Beifall! (That’s German for Cheers!)
