Heineken N.V. reports 2025 half year results

Rhea-AI Summary

Heineken (OTCQX: HEINY) reported solid H1 2025 results with organic operating profit (beia) growth of 7.4% and net revenue (beia) increasing by 2.1%. The company demonstrated strong premium segment performance with premium beer volume up 1.8% and flagship Heineken® brand volume growing 4.5%.

Despite macro-economic challenges, the company showed resilience across its global markets. African operations led profit growth, while Vietnam, India, and China saw expansion. The company maintained its full-year outlook, expecting organic operating profit (beia) growth of 4% to 8%. Notably, Heineken increased its expected gross savings target to exceed €0.5 billion in 2025.

Positive

• Operating profit (beia) grew organically by 7.4% with margin expansion of 26 bps
• Premium beer volume increased by 1.8% with Heineken® brand growing 4.5%
• Strong performance in African markets with transformed cost base
• Increased gross savings target to exceed €0.5 billion in 2025
• Portfolio and distribution gains in Vietnam, India, and China

Negative

• Beer volume declined 1.2% organically
• Extended retailer negotiations temporarily impacted European volumes
• Softer market conditions in Mexico and Brazil
• Challenging macro-economic environment affecting consumer sentiment and expenditures

News Market Reaction

-9.84%

1 alert

-9.84% News Effect

On the day this news was published, HEINY declined 9.84%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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 market environment. 

As the year progresses, we remain agile in our execution, focusing our investments to seize the biggest opportunities, supported by a step up in expected gross savings now to exceed €0.5 billion in 2025. Considering the current conditions, we confirm our full-year outlook to organically grow operating profit (beia) by 4% to 8%, reflecting our agility and commitment to invest in growth.”

		Enquiries
	Media			Investors
	Christiaan Prins			Tristan van Strien
	Director of Global Communications			Global Director of Investor Relations
	Marlous den Bieman			Lennart Scholtus / Chris Steyn
	Corporate Communications Lead			Investor Relations Manager / Senior Analyst
	E-mail: pressoffice@heineken.com			E-mail: investors@heineken.com
	Tel: +31-20-5239355			Tel: +31-20-5239590

Conference Call Details

HEINEKEN will host an analyst and investor conference call in relation to its 2025 Half Year results today at 14:00 CET/ 13:00 BST. The call will be audio cast live via the company’s website: www.theheinekencompany.com.

An audio replay service will also be made available after the conference call at the above web address. Analysts and investors can dial-in using the following telephone numbers:

United Kingdom (Local): 020 3936 2999

Netherlands (Local): 085 888 7233

USA: 1 646 787 9445

For the full list of dial in numbers, please refer to the following link: Global Dial-In Numbers

Participation password for all countries: 465823

Attachment

• HEINEKEN H1 2025 Press Release

FAQ

What were Heineken's (HEINY) key financial results for H1 2025?

Heineken reported €16,924 million in revenue, with net revenue growing 2.1% organically. Operating profit reached €1,433 million, with operating profit (beia) growing 7.4% organically. Diluted EPS (beia) was €2.08.

How did Heineken's beer volumes perform in the first half of 2025?

Overall beer volume declined 1.2% organically, however premium beer volume increased by 1.8% and the Heineken® brand grew by 4.5%. Mainstream beer volume showed a modest increase of 0.5%.

What is Heineken's profit outlook for full-year 2025?

Heineken maintained its full-year outlook, expecting operating profit (beia) to grow organically by 4% to 8% in 2025.

Which regions drove Heineken's growth in H1 2025?

African markets led the operating profit growth, while Vietnam, India, and China showed strong performance through portfolio expansion and distribution gains. Mexico and Brazil demonstrated resilience despite softer market conditions.

What cost savings does Heineken expect to achieve in 2025?

Heineken increased its expected gross savings target to exceed €0.5 billion in 2025, supporting its investment and growth initiatives.