Heineken N.V. Reports on 2026 Third Quarter Trading

Growth: continued momentum, all regions contributing

• Total volume grew 4.8% (YTD: 2.7%), with consolidated volume 3.9% (YTD: 1.6%), licensed volume 19.5% (YTD: 21.8%).
  
  
• Net revenue grew 4.6% (YTD: 3.4%), net revenue per hectolitre up 0.7% (YTD: 1.7%).
  
  
• Price-mix on a constant geographic basis up 1.8% (YTD: 2.4%).
  
  
• Gained or held share in more than two-thirds of our markets.
  
  

Segments and Brands: priority segments and global brands driving growth

• Premium volume grew 11.5%, significantly ahead of the total portfolio.
  
  
• Global brands volume grew 9.9% (YTD: 6.9%), with all five brands in growth, and Heineken® up 9.7% (YTD: 6.8%).
  
  
• Mainstream volume increased 2.4% (YTD: 0.3%), with our local power brands outperforming.
  
  
• Low & no-alcohol grew in the double-digits, led by Heineken® 0.0 and Heineken® Ultimate.
  
  
• Beyond beer volume grew in the mid teens, supported by Desperados innovations.
  
  

Regional performance: all four regions in volume and revenue growth

• Africa & Middle East: sustained resilient growth.
  
  
• Americas: returned to growth on easier comparison base.
  
  
• Asia Pacific: solid momentum continued.
  
  
• Europe: volume growth and strong summer execution on softer comparatives.
  
  

Progressing with pace on EverGreen 2030 priorities

• Accelerated innovation, including Heineken® Ultimate 3.5%, Desperados Sunlight, and Tiger Smooth.
  
  
• Agreed to acquire a majority stake in Stëlz, subject to regulatory approval, to strengthen our beyond beer portfolio.
  
  
• Productivity programme on track to deliver €500m gross savings for the full-year.
  
  
• Scaling our simplified European operating model following successful pilots.
  
  
• Reiterating our 2% to 6% organic operating profit growth guidance for 2026.
  
  

“We delivered good volume growth of 5%, with positive contributions from all regions, and strong delivery from our global brands and priority segments in particular. This gives us confidence to confirm our full-year outlook.

Joining HEINEKEN at a time when our teams are delivering solid results while remaining focused on implementing our strategy is a real privilege. My first impressions are positive, particularly the strength of our brands, the commitment of our people, and the growth potential across our geographic footprint. We have strong foundations, but we are not translating them into consistent growth and winning with consumers and customers as often as we should. There is more to do to sharpen execution, increase pace, and build a stronger performance culture, with greater accountability across the business.

These first weeks have been about listening, learning, and understanding. I look forward to sharing more of my perspective when we report our full-year results.

Rafa Oliveira, CEO Outlook

Based on current macroeconomic conditions, we assume a broadly unchanged consumer environment across most of our markets. We are accelerating disciplined execution of our strategy and continue to invest in sustainable growth, funded by productivity. Reflecting our strong performance to date, we remain confident in delivering our 2026 guidance of 2% to 6% operating profit growth. All other guidance metrics also remain unchanged.

The full press release is available for download below.

CONFERENCE CALL DETAILS

HEINEKEN will host an analyst and investor conference call with Harold van den Broek, Chief Financial Officer, in relation to its Third Quarter 2026 Trading Update today at 10:00 CET/09:00 GMT. The call will be audio cast live via the company’s website: www.theheinekencompany.com. An audio replay service will also be made available after the conference call at the above web address. Analysts and investors can dial-in using the following telephone numbers:
United Kingdom (Local): 020 3936 2999
Netherlands (Local): 085 888 7233
USA (Local): 646 664 1960 For the full list of dial in numbers, please refer to the following link: Global Dial-In Numbers
Participation password for all countries: 056425

Editorial information:

HEINEKEN is the world’s most international brewer. It is the leading developer and marketer of premium and non-alcoholic beer and cider brands. Led by the Heineken® brand, the Group has a portfolio of more than 340 international, regional, local and specialty beers and ciders. With HEINEKEN’s over 85,000 employees, we brew the joy of true togetherness to inspire a better world. Our dream is to shape the future of beer and beyond to win the hearts of consumers. We are committed to innovation, long-term brand investment, disciplined sales execution and focused cost management. Through “Brew a Better World”, sustainability is embedded in the business. HEINEKEN has a well-balanced geographic footprint with leadership positions in both developed and developing markets. We operate breweries, malteries, cider plants and other production facilities in more than 70 countries. Most recent information is available on our Company’s website and follow us on LinkedIn and Instagram.

Market Abuse Regulation:

This press release may contain price-sensitive information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

Disclaimer:

This press release contains forward-looking statements based on current expectations and assumptions with regard to the financial position and results of HEINEKEN’s activities, anticipated developments and other factors. All statements other than statements of historical facts are, or may be deemed to be, forward-looking statements. Forward-looking statements also include, but are not limited to, statements and information in HEINEKEN’s non-financial reporting, such as HEINEKEN’s emission reduction and other climate change related matters (including actions, potential impacts and risks associated therewith). These forward-looking statements are identified by use of terms and phrases such as “aim”, “ambition”, “anticipate”, “believe”, “could”, “estimate”, “expect”, “goals”, “intend”, “may”, “milestones”, “objectives”, “outlook”, “plan”, “probably”, “project”, “risks”, “schedule”, “seek”, “should”, “target”, “will” and similar terms and phrases. These forward-looking statements, while based on management’s current expectations and assumptions, are not guarantees of future performance since they are subject to numerous assumptions, known and unknown risks and uncertainties, which may change over time, that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond HEINEKEN’s ability to control or estimate precisely, such as but not limited to future market and economic conditions, the behaviour of other market participants, changes in consumer preferences, the ability to successfully integrate acquired businesses and achieve anticipated synergies, costs of raw materials and other goods and services, interest-rate and exchange-rate fluctuations, changes in tax rates, changes in law, environmental and physical risks, change in pension costs, the actions of government regulators and weather conditions. These and other risk factors are detailed in HEINEKEN’s publicly filed annual reports. You are cautioned not to place undue reliance on these forward-looking statements, which speak only of the date of this press release. HEINEKEN assumes no duty to and does not undertake any obligation to update these forward-looking statements contained in this press release. Market share estimates contained in this press release are based on external sources, such as specialised research institutes, in combination with management estimates. HEINEKEN undertakes no responsibility for the accuracy or completeness of such external sources.

HEINEKEN N.V. 2026 Q3 Trading Update_vF