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Heineken N.V. reports 2025 half year results

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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.

Heineken (OTCQX: HEINY) ha comunicato risultati solidi per il primo semestre 2025 con una crescita organica del margine operativo (beia) del 7,4% e un aumento del fatturato netto (beia) del 2,1%. L'azienda ha mostrato una forte performance nel segmento premium con un volume di birra premium in crescita dell'1,8% e il volume del marchio di punta Heineken® in aumento del 4,5%.

Nonostante le sfide macroeconomiche, l'azienda ha dimostrato resilienza nei suoi mercati globali. Le operazioni in Africa hanno guidato la crescita del profitto, mentre Vietnam, India e Cina hanno registrato espansioni. L'azienda ha confermato le previsioni per l'intero anno, prevedendo una crescita organica del margine operativo (beia) compresa tra il 4% e l'8%. In particolare, Heineken ha aumentato il suo obiettivo di risparmi lordi attesi, superando i 0,5 miliardi di euro nel 2025.

Heineken (OTCQX: HEINY) reportó sólidos resultados en el primer semestre de 2025 con un crecimiento orgánico del beneficio operativo (beia) del 7,4% y un incremento en los ingresos netos (beia) del 2,1%. La compañía mostró un fuerte desempeño en el segmento premium con un aumento del volumen de cerveza premium del 1,8% y un crecimiento del 4,5% en el volumen de la marca estrella Heineken®.

A pesar de los desafíos macroeconómicos, la empresa mostró resiliencia en sus mercados globales. Las operaciones en África lideraron el crecimiento de beneficios, mientras que Vietnam, India y China experimentaron expansión. La compañía mantuvo sus perspectivas para todo el año, esperando un crecimiento orgánico del beneficio operativo (beia) entre el 4% y el 8%. Destaca que Heineken aumentó su objetivo de ahorros brutos esperados a más de 0,5 mil millones de euros en 2025.

하이네켄(OTCQX: HEINY)은 2025� 상반기에 유기� 영업이익(beia) 7.4% 성장순매�(beia) 2.1% 증가라는 견고� 실적� 보고했습니다. 회사� 프리미엄 부문에� 강력� 성과� 보였으며, 프리미엄 맥주 판매량이 1.8% 증가했고 대� 브랜드인 Heineken®� 판매량은 4.5% 성장했습니다.

거시경제� 어려움에도 불구하고 � 세계 시장에서 회복력을 보여주었습니�. 아프리카 사업부가 이익 성장� 주도했으�, 베트�, 인도, 중국에서� 확장� 이루어졌습니�. 회사� 연간 전망� 유지하며, 유기� 영업이익(beia) 4%~8% 성장� 기대하고 있습니다. 특히, 하이네켄은 2025� 예상 � 절감� 목표� 5� 유로 이상으로 상향 조정했습니다.

Heineken (OTCQX : HEINY) a annoncé de solides résultats pour le premier semestre 2025 avec une croissance organique du résultat opérationnel (beia) de 7,4% et une augmentation du chiffre d'affaires net (beia) de 2,1%. L'entreprise a démontré une forte performance dans le segment premium avec un volume de bière premium en hausse de 1,8% et un volume de la marque phare Heineken® en croissance de 4,5%.

Malgré les défis macroéconomiques, la société a montré une résilience sur ses marchés mondiaux. Les opérations en Afrique ont conduit la croissance des bénéfices, tandis que le Vietnam, l'Inde et la Chine ont connu une expansion. L'entreprise a maintenu ses prévisions annuelles, anticipant une croissance organique du résultat opérationnel (beia) comprise entre 4% et 8%. Notamment, Heineken a relevé son objectif d'économies brutes attendues à plus de 0,5 milliard d'euros en 2025.

Heineken (OTCQX: HEINY) meldete solide Ergebnisse für das erste Halbjahr 2025 mit einem organischen Wachstum des operativen Gewinns (beia) von 7,4% und einem Anstieg des Nettoumsatzes (beia) um 2,1%. Das Unternehmen zeigte eine starke Leistung im Premiumsegment mit einem Premium-Bier-Volumenanstieg von 1,8% und einem 4,5%igen Wachstum des Flaggschiff-Heineken®-Markenvolumens.

Trotz makroökonomischer Herausforderungen zeigte das Unternehmen in seinen globalen Märkten Widerstandsfähigkeit. Die afrikanischen Geschäfte führten das Gewinnwachstum an, während Vietnam, Indien und China eine Expansion verzeichneten. Das Unternehmen bestätigte seine Prognose für das Gesamtjahr und erwartet ein organisches Wachstum des operativen Gewinns (beia) von 4% bis 8%. Bemerkenswert ist, dass Heineken sein erwartetes Bruttoeinsparziel auf über 0,5 Milliarden Euro im Jahr 2025 erhöht hat.

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

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: [email protected] E-mail: [email protected]
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:

Participation password for all countries: 465823

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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.
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Beverages - Brewers
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