UBL credits IPL, other sponsorships for Kingfisher's strong growth in December quarter
In a BSE filing, UBL said Kingfisher grew by a mid-single-digit boosted by increased sponsorship investment including the IPL for cricket in the December quarter of 2024.
ADVERTISEMENT
Liquor giant United Breweries Limited (UBL) has credited sponsorships in events like the Indian Premier League for the strong growth of its Kingfisher brand in India. In a BSE filing, UBL said Kingfisher grew by a mid-single-digit boosted by increased sponsorship investment including the IPL for cricket in the December quarter of 2024.
Kingfisher Ultra and Heineken Silver, grew in the mid-thirties, gaining segment market share, UBL added.
The alcohol maker said that the company's net revenue grew in the low teens with beer volume growth of a high-single-digit in India.
Meanwhile, UBL's parent company Heineken reported 2024 earnings on Wednesday. The net profit of Heineken was up 7.3 percent to €2,739 million before exceptional items and amortization (beia). The net revenue of the brewing firm stood at €36.077 million--up 5 percent in 2024.
"We delivered solid results with broad-based growth and profit expansion in 2024. Beer volume grew organically by 1.6%, and net revenue (beia) was up 5.0 percent with strong operating profit (beia) growth of 8.3 percent. Premium volume grew 5 percent, led globally by Heineken, which was up 9 percent. Mainstream beer volume rose 2 percent, spearheaded by the leading brands in our largest markets, including Amstel in Brazil, Cruzcampo in the UK, and Kingfisher in India," Dolf van den Brink, Chairman of the Executive Board of Heineken NV said.
The brewery giant has anticipated that ongoing macroeconomic challenges, including weak consumer sentiment in Europe, volatility, inflationary pressures currency devaluations across developing markets, and broader geopolitical fluctuations may affect consumers in 2025.
Heineken has intended to increase in support of its brands and for marketing and selling investments to grow ahead of revenue. The company forecasts an organic growth in operating profit of 4-8 percent for 2025.
