Heineken Sales Fall in the First Half of 2025 but Profit Forecast Maintained

Heineken, one of the world’s largest beer producers, announced a decrease in its sales during the first half of 2025, mainly affected by the drop in beer volume in Brazil, the United States, and parts of Europe. The group’s net revenues totaled €14.2 billion, compared to €14.8 billion in the same period of the previous year.

Despite the drop in sales, adjusted operating profit increased by 7.4% year-on-year, reaching €2.02 billion, exceeding market expectations. Net profit also registered a recovery, reaching €744 million, reversing the loss experienced in the first half of 2024.

The company attributes the drop in volume in Europe and the United States to price disputes with retailers and a slowdown in consumption linked to health trends and changes in consumer habits. However, regions such as Asia and Africa showed solid growth, with increases in key markets such as Vietnam, India, and Mexico.

In Brazil, despite economic challenges, Heineken maintains a competitive position in the market. The company has achieved cost savings of €300 million during the first half and has raised its annual target to €500 million to improve operational efficiency.

Heineken maintains its positive outlook for the full year, with a target of adjusted operating profit growth between 4% and 8%. The company is evaluating strategies to mitigate the impacts of trade tariffs, including possible adjustments in the production chain.