Heineken Q1 2026 revenue rises 2.8% to US$7.9B as premium brands drive growth
Heineken posts Q1 growth driven by premium brands and strong Ethiopia performance, maintaining outlook despite global volatility and marking CEO Dolf van den Brink’s final quarterly report.
NETHERLANDS – Heineken has reported a 2.8% increase in net revenue on an organic basis to €6.7 billion (US$7.87M) for the first quarter of 2026, supported by strong performance in its premium and global brand portfolio.
The brewer recorded total volumes of 66.4 million hectolitres, representing 1.2% organic growth during the period.
The company said licensed volume surged by 26.1%, offsetting a slight 0.2% decline in consolidated volume, while net revenue per hectolitre increased by 3%.
On a reported basis, total revenue reached €7.89 billion (US$9.26B), up 1.4%, while revenue before exceptional items and amortisation (BEIA) rose 2.2% organically to €7,888 million. Heineken also maintained or gained market share in around 60% of its markets.
Premium volume grew by 5.8%, driven by the Heineken brand, which posted a 6.9% increase. Global brands recorded a 5.7% rise in volume, with Amstel and Desperados each delivering high single-digit growth.
In contrast, mainstream volume declined slightly, although local brands such as Harar and Cruzcampo remained in growth.
The company also reported double-digit growth in low- and non-alcohol segments, led by Heineken 0.0 and Maltina in Nigeria. Beyond beer, volumes increased by a mid-single-digit percentage, supported by brands such as Desperados globally and Bernini within Heineken Beverages.
Regional performance was led by Africa and the Middle East, which delivered strong price-mix and volume growth, particularly in Ethiopia.
“In Ethiopia, net revenue grew in the forties, with beer volume growing in the high teens,” the company said, adding that its local portfolio “continues to outpace the market.”
Heineken attributed this performance to strong demand for brands including Bedele and Harar. “Our portfolio, led by Bedele and Harar, continues to outpace the market as we further fortify our market leadership,” the company added.
Asia Pacific also recorded a strong start to the year, driven by Vietnam and supported by festive demand, alongside growth in India and China.
In the Americas, the company delivered solid price-mix performance, although volumes declined modestly in Brazil and Mexico. Europe showed mixed results, with growth in the United Kingdom, France, and Spain offset by weaker performance in Poland.
The brewer noted a more complex trading environment, citing volatility in global trade and rising energy costs as factors contributing to inflationary pressure.
Despite these challenges, Heineken maintained its full-year outlook, expecting operating profit to grow between 2% and 6% organically.
Chief executive Dolf van den Brink confirmed this would be his final quarterly report, stating he remains confident in the company’s long-term growth prospects.
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