Heineken’s operating profit grows 7.4% in H1 2025

Dutch brewing company Heineken N.V. has reported a 7.4 percent organic growth in operating profit for the first half of 2025, reaching €1,433 million. The company’s net revenue also rose by 2.1 percent organically, supported by a 3.3 percent increase per hectolitre.

The strong performance was primarily driven by Heineken’s African markets, which led profit growth through portfolio strength and cost base transformation. Additional gains were fuelled by distribution and portfolio expansion in Vietnam, India, and China. Despite temporary volume setbacks in Europe due to extended retailer negotiations, the company maintained resilience in markets like Mexico and Brazil.

Commenting on the results, Heineken CEO Dolf Van Den Brink said, “In the first half, we delivered solid results since organic operating profit (beia) grew 7.4 percent as the operating margin expanded by 26 bps and net revenue (beia) increased 2.1 percent. At the same time, we continued to invest in future-proofing our business, strengthening our footprint and brand portfolios, funded by productivity savings.”

Heineken’s flagship beer volume grew by 4.5 percent, premium beer volume increased by 1.8 percent, and mainstream beer volume showed a modest 0.5 percent rise. However, overall beer volume declined by 1.2 percent on an organic basis.

The brewer reaffirmed its full-year forecast, expecting organic operating profit growth in the range of 4-8 percent, consistent with last year’s outlook. The company also revised its gross savings target upwards, projecting it to exceed €0.5 billion by the end of 2025.