Heineken reports strong 2024 performance, announces US$1.55B share buyback 

NETHERLANDS – Heineken has posted an 8.3 percent increase in annual organic operating profit for the 2024 fiscal year, reaching €3,517 million (US$3.6B).  

The results exceeded analysts’ expectations of 5.3 percent growth and surpassed the company’s own forecast of up to 8 percent. 

Total revenue grew organically by 5.0 percent to €35,955 million (US$37.3B), driven by strong performance in the beer category and continued investments.  

Heineken CEO and chairman Dolf van den Brink said: “We delivered solid results with broad-based growth and profit expansion in 2024” and explained how “notably, our beer volume expanded in all four regions, across both developed and emerging markets.” 

Premium beer volume rose by 5 percent, led globally by Heineken, which saw a 9 percent increase. Mainstream beer volume climbed by 2 percent, supported by strong sales of Amstel in Brazil, Cruzcampo in the UK, and Kingfisher in India.  

The beyond beer segment expanded by 4 percent, led by Desperados globally and Savanna cider in Southern Africa. Heineken 0.0, the company’s non-alcoholic beer, recorded a 10 percent increase in sales. 

van den Brink stated that “the growth was broad, with 24 markets in double digits” and flagged elements across markets, noting for example, “the strong performance in Egypt” and how Heineken has “stepped up profit growth” in the Americas. 

Following the strong results, Heineken announced a €1.5 billion (US$1.55 billion) share buyback programme, which will be executed over the next two years.  

The company reaffirmed its commitment to long-term growth, aiming to achieve a balance between volume and value while continuously improving productivity.  

It plans to reinvest cost savings into business expansion while ensuring that operating profit continues to outpace net revenue growth over time. 

Heineken also acknowledged potential risks from U.S. trade tariffs on countries such as Mexico, where it brews beer for the American market.  

U.S. President Donald Trump has threatened 25 percent tariffs on Mexico and Canada, levies on goods from Europe and imposed 25 percent duties on all imported steel and aluminium. 

However, van den Brink noted that the U.S. accounts for less than 5 percent of Heineken’s global revenue, and the company does not anticipate a significant financial impact. 

Looking ahead, Heineken expects organic operating profit (beia) to grow within the range of 4 to 8 percent in 2025. 

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