Heineken N.V. reports 2025 half year results

Amsterdam, 28 July 2025, Heineken N.V. ((EURONEXT: HEIA, OTCQX:HEINY) announces:

Solid profit growth highlighting agility across our global footprint

 

Key Highlights

Revenue €16,924 million

Net revenue (beia) 2.1% organic growth; per hectolitre 3.3%

Beer volume organic growth -1.2%; Heineken® volume growth 4.5%

Operating profit €1,433 million; operating profit (beia) organic growth 7.4%

Diluted EPS (beia) €2.08

Outlook for the full year unchanged; operating profit (beia) expected to grow organically 4% to 8%

 

CEO Statement

Dolf van den Brink, CEO and Chairman of the Executive Board, commented:

"In the first half, we delivered solid results as organic operating profit (beia) grew 7.4% as the operating margin expanded by 26 bps and net revenue (beia) increased 2.1%. At the same time, we continued to invest in future-proofing our business, strengthening our footprint and brand portfolios, funded by productivity savings.

Our volume performance improved across all regions in the second quarter and continued to be of high quality. In the half year, mainstream beer volume increased 0.5%, premium beer volume rose by 1.8%, and Heineken® volume grew by 4.5%.

Our advantaged geographical footprint helped us to adapt to ongoing macro-economic challenges which impacted consumer sentiment and expenditures. Our African markets led the operating profit growth, benefitting from strong portfolios and a transformed cost base. Profit growth was further boosted by the expansion of our portfolios and distribution led gains in Vietnam, India, and China. In Europe, extended retailer negotiations temporarily impacted volume, but were important to preserve future sustainable category development. Mexico and Brazil showed resilience in a softer ...