Strong Profit Growth
Operating profit (beia) grew by 7.4%, with a margin increase of 26 basis points to 14.3%. Net profit (beia) increased by 7.5% organically.
Heineken
· HEINY
July 28th, 2025
Summary
- Earnings Call Date:
- 2025-07-28
- Change Since:
- +4.47%
- Next Earnings Date:
- 2026-08-05
Earnings Call Sentiment
NeutralThe earnings call reflects a resilient performance with strong profit growth and positive momentum in key markets like APAC and AME. However, challenges such as volume declines, currency impacts, and operational issues in Europe weigh on the overall outlook. Strategic initiatives and sustainability progress provide a positive long-term outlook.
Company Guidance
In the 2025 half-year results call, Heineken reiterated its robust profit growth, despite facing macroeconomic challenges. The company reported a 7.4% increase in operating profit (beia) and a 2.1% organic growth in net revenue (beia) to €14.2 billion. Volume growth was slightly negative at -1.2%, but net revenue per liter (beia) improved by 3.3%. The Heineken brand showed a 4.5% volume growth, while operating margin increased by 26 basis points to 14.3%. Notably, Africa and the Middle East contributed significantly with a 19.8% organic net revenue rise and over 50% growth in operating profit (beia) in euros. The guidance for the full-year operating profit (beia) remains at an organic growth range of 4% to 8%.
Resilient Performance in APAC and AME
APAC posted strong results with net revenue growth of 5.5% and operating profit growth of 11%. Africa and Middle East achieved significant volume growth and profitability improvements, with net revenue growing organically by 19.8%.
Positive Momentum in Key Markets
Notable volume growth in India, Vietnam, and Nigeria. Heineken brand volume grew 4.5% globally, with strong performances in APAC and Nigeria.
Sustainability Achievements
Progressed towards net zero carbon targets and improved water efficiency. Achieved the target of 30% women in senior management roles.
Operator
Hello, everyone, and thank you for joining the Heineken Half Year Results Call. My name is Sami, and I'll be coordinating your call today. [Operator Instructions] I will now hand over to your host, Tristan Van Strien, Director of Investor Relations, to begin. Please go ahead, Tristan.
Raoul-Tristan Van Strien
Thank you, Sami. Good morning and afternoon, everyone, from Amsterdam. Thank you for joining us for today's live webcast of our 2025 half year results. Your host will be our CEO, Dolf van den Brink; and our CFO, Harold van den Broek. Following the presentation, we will be happy to take your questions. The presentation includes forward-looking statements and expectations based on management's current views and involve known and unknown risks and uncertainties, and it is possible that the actual results may differ materially. For more information, please refer to the disclaimer on the first page of this presentation. I will now turn the call over to Dolf.
Rudolf Gijsbert Servaas van den Brink
Thank you, Tristan. Welcome, everyone. We delivered a solid first half of the year in a turbulent world, whilst progressing on our multiyear strategy, EverGreen '25. We will update our progression on EverGreen at our upcoming CME in October. But before we delve into the results, let's start with a brief reminder of our strategy, which continues to shape our business and how we think about this going forward. Our ambition is to deliver superior and balanced growth to consistently create long-term value. We do this with a clear focus on 5 strategic priorities embedded in the business as indicated on the left. These priorities propel the flywheel o...
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