Well-balanced performance in challenging market conditions
| IFRS Measures | BEIA Measures | |||||||||
| (in € million) | Total growth | (in € million) | Organic growth | |||||||
| Revenue | 34,257 | -4.7% | Revenue (beia) | 34,395 | 0.2% | |||||
| Net revenue | 28,753 | -3.6% | Net revenue (beia) | 28,890 | 1.6% | |||||
| Operating profit | 3,406 | -3.2% | Operating profit (beia) | 4,385 | 4.4% | |||||
| Operating profit margin | 11.8% | 5 bps | Operating profit (beia) margin | 15.2% | 41 bps | |||||
| Net profit of Heineken Holding N.V. | 952 | Net profit (beia) | 2,662 | 4.9% | ||||||
| Diluted EPS | 3.39 | Diluted EPS (beia) | 4.78 | 3.6% | ||||||
| Free operating cash flow | 2,602 | |||||||||
| Net debt / EBITDA (beia) | 2.2x |
Heineken Holding N.V. engages in no activities other than its participating interest in Heineken N.V. and the management or supervision of and provision of services to that company.
The net result of Heineken Holding N.V.'s participating interest in Heineken N.V. for 2025 amounts to €952 million.
Distribution of excess share buyback proceeds of circa €0.16 per outstanding share to be approved by the General meeting of Shareholders of Heineken Holding N.V.
Unless stated otherwise, all comments and figures in this announcement refer to BEIA metrics, and growth % or bps indicate organic growth, except for Diluted EPS (beia) which is calculated on a constant currency basis.
Growth: Quality volume and mix with market share gains in subdued market conditions
Profitability: Strong productivity gains enabling margin expansion
Capital Efficiency: Another year of solid cash flow generation, with improved ROIC
2026: Accelerating the disciplined execution of EverGreen 2030, integrating FIFCO
Annual Report 2025
Today we published our Heineken Holding N.V. Annual Report, you can access the full report here: https://www.heinekenholding.com/investors/results-reports-webcasts-presentations
ENQUIRIES
| Media Heineken Holding N.V. | ||
| Kees Jongsma | ||
| tel. +31 6 54 79 82 53 | ||
| E-mail: cjongsma@spj.nl | ||
| Media | Investors | |
| Christiaan Prins | Tristan van Strien | |
| Director of Global Communication | Global Director of Investor Relations | |
| Marlous den Bieman | Lennart Scholtus / Chris Steyn | |
| Head of Media | Investor Relations Manager / Senior Analyst | |
| E-mail: pressoffice@heineken.com | E-mail: investors@heineken.com | |
| Tel: +31-20-5239355 | Tel: +31-20-5239590 |
CONFERENCE CALL DETAILS
HEINEKEN will host an analyst and investor video webcast about its 2025 FY results today, 11 February 2026, at 10:00 CET/ 09:00 GMT/ 04:00 EST. The live video webcast will be accessible via the company’s website:
https://www.theheinekencompany.com/investors/results-reports-webcasts-and-presentations.
An audio replay service will also be made available after the webcast at the above web address. Analysts and investors can dial-in using the following telephone numbers:
| United Kingdom (local): +44 20 3936 2999 |
| Netherlands (local): +31 85 888 7233 |
| United States: +1 646 233 4753 |
| All other locations: +44 20 3936 2999 |
| For the full list of dial in numbers, please refer to the following link: Global Dial-In Numbers |
| Participation password for all countries: 375706 |
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