Delivered a resilient and well-balanced performance in 2025, with organic net revenue up 1.6% and operating profit up 4.4% despite challenging market conditions and volume declines in some regions.
Gained or held market share in over 60% of markets, with strong growth in Asia Pacific and Africa & Middle East offsetting declines in Europe and the Americas.
Continued disciplined execution of the EverGreen 2030 strategy, focusing on growth, productivity, global brands, and operational efficiency.
CEO transition announced, with the outgoing CEO committed through May 2026 and a search for a successor underway.
Completed the acquisition of FIFCO in Central America, expected to be immediately accretive to EPS and operating profit margin.
Net revenue (beia) increased 1.6% year-over-year, driven by a 3.8%–4.1% price-mix improvement, offsetting a 1.2%–2.1% volume decline.
Operating profit (beia) grew 4.4%, with a 41 basis point margin expansion to 15.2%.
Net profit (beia) rose 4.9% to €2,662 million; diluted EPS (beia) reached €4.78, up 3.6%.
Free operating cash flow was €2.6 billion, with a cash conversion rate of 87%.
Proposed total dividend of €1.90 per share, a 2%–2.2% increase, with payout range expanded to 30%–50% of net profit.
Net debt/EBITDA (beia) at 2.2x, below the long-term target of 2.5x.
Operating profit expected to grow 2%–6% organically in 2026, before the accretive impact of the FIFCO acquisition.
FIFCO acquisition to be 2%–3% accretive to EPS in 2026 and immediately accretive to operating profit margin.
Gross savings from productivity initiatives targeted at €400–500 million per year; variable costs to rise by low single digits.
Dividend payout policy range increased to 30%–50% of net profit (beia).
Effective tax rate expected at 27%–28%; capex to be below 8% of net revenue.
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Search for any keyword across all transcripts simultaneously.
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
The easiest way to stay updated during earnings season.
All events from public companies. Live and recorded.
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
)
)
With more than 300 beer and cider brands, Heineken is the number one brewer in Europe and number two in the world. The company develops new drinks, acquires new brands, and markets them globally. There are many subsidiaries, and you might recognize Tecate, Amstel, Birra Moretti, Dos Equis, Sol, Carta Blanca, and Red Stripe. Some of Heineken’s competitors are Carlsberg Group, Anheuser-Busch InBev, and Diageo.
The company was founded in 1864 by Gerard Adriaan Heineken, who, at only 22 years of age, bought a brewery called De Hooiberg (The Haystack) in Amsterdam. His son, Henry Pierre Heineken, managed the company from 1917 to 1940. During his tenure, Heineken invested in maintaining consistent beer quality during large-scale production and exports. Only three days after the prohibition ended in the US, the first Heineken shipment landed in New York.
This Amsterdam-based Dutch brewing company employs over 85,000 persons and has operational facilities in more than 70 countries. If you’re in Amsterdam, however, you should visit the Heineken Experience; the original brewery of Heineken, which closed in 1988 and is preserved as a museum.
There’s more to Heineken than meets the eye; their specialty, the A-yeast, is the main factor behind the beer’s rich flavor and taste. It was cultivated in 1886 by French chemist Louis Pasteur student and is still used solely by Heineken today.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage