Heineken posts 6.7% operating profit growth as Asia and Africa drive H1 sales momentum

NETHERLANDS – Heineken NV reported higher volumes, revenue and profit in the first half of 2026, with strong demand across Asia, Africa and the Middle East offsetting weaker performances in Europe and the Americas. 

The Dutch brewer said total volumes increased by 1.6 percent to 142.8 million hectolitres during the period, while revenue rose by 2.7 percent to €14.8 billion. Net profit climbed by more than 10 percent to exceed €1.2 billion compared with the corresponding period last year. 

Organic operating profit increased by 6.7 percent, surpassing analysts’ expectations of 3.3 percent growth. 

Heineken attributed the stronger performance primarily to rising demand across the Asia, Africa and Middle East (AME) region. In contrast, sales in Europe declined by 0.6 percent, while volumes in North and South America fell by 3.4 percent. Despite these declines, Europe and the Americas remain the company’s largest markets. 

Within the AME region, total volume grew by 2.9 percent, supported by a 1.2 percent increase in beer sales and a 6.7 percent rise in non-beer volumes. The company said the growth was driven largely by continued strong demand for its malt beverage portfolio in Nigeria and Egypt. 

Net revenue in the region increased by 8.2 percent, while consolidated volumes rose by 2.7 percent. Net revenue per hectolitre also climbed by 5.4 percent. Operating profit surged by 30.8 percent as a result of higher sales volumes, disciplined revenue management strategies and productivity initiatives implemented in recent years. 

The brewer also confirmed that it eliminated approximately 3,000 jobs during the first half of the year as part of an ongoing restructuring programme aimed at reducing costs. Heineken plans to cut between 5,000 and 6,000 positions overall, including roles at its headquarters in Amsterdam. 

Harold van den Broek, chief financial officer and member of the executive board, said the company continued to advance its long-term strategy. 

“During the first half of 2026, we accelerated the execution of EverGreen 2030. We delivered volume growth and robust operating profit expansion, with all five global brands in growth and good momentum in our premium and beyond beer portfolios,” he said. 

He added: “We are confident in our strategy and progress, yet remain prudent given ongoing macroeconomic and geopolitical uncertainty. We reiterate our full-year operating profit growth guidance of 2% to 6%.” 

Meanwhile, shareholders approved the appointment of Rafael Oliveira as chief executive officer and board chair, with his four-year term beginning in October. Oliveira previously led coffee and tea producer JDE Peet’s. 

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