Heineken, the world's second-largest brewer, said higher beer sales and consumers trading up to more expensive drinks will boost earnings in 2019 after reporting growth in every region last year.
The Dutch maker of Heineken, Europe's top-selling lager, as well as Tiger, Sol and Strongbow cider, said that revenue growth should be above the industry average.
It also said that operating profit should grow at roughly the same rate as 2018's 6.4% increase.
Shares in the brewer, the world's second-largest after Anheuser Busch InBev, were up 4.5% this morning.
Barley, aluminium and transport costs would increase, but the impact of foreign currencies could finally turn positive after their depreciation to the euro cut revenues by about €1 billion a year over the past three years, the company said.
Analysts pointed to better than expected 2018 earnings, with also a more positive view on currencies, although the operating profit growth forecast was broadly in line with the market view.
The Dutch brewer, whose Heineken lager is the top seller in Europe, benefited last year from the soccer World Cup and a hot summer in much of Europe and achieved further growth in its top two markets, Mexico and Vietnam.
Its marquee Heineken brand increased sales by 7.7%, its strongest growth in more than a decade, with expansion in Africa, Eastern Europe and the Americas.
However, its operating margin declined due to foreign exchange rates and because it expanded by more than expected into Brazil, where margins are below the group average.
Heineken acquired the loss-making Brazilian operations of Japan's Kirin in 2017 to become the number two player in the South America country.
Its chief executive Jean-Francois van Boxmeer said the company was not giving a forecast on margins.
The brewer said its operating profit before one-offs rose 6.4% on a like-for-like basis in 2018 to €3.87 billion, just above the average forecast of €3.85 billion in a Reuters poll.
Earnings per share at €4.25 was above the Reuters consensus forecast of €4.10.
