Dispute with retailers earns Heineken lukewarm first semester

The first half of 2025 was one of mixed emotions for Heineken: its profits rose, but net revenue and volumes fell as difficult price negotiations with supermarkets and negative currency exchange effects took a toll.

Empty shelves in Western Europe

While Heineken’s operating profit (autonomously) increased by 7.4% to 2.03 billion euros, net revenue dropped by 4.3% to 14.2 billion euros. Its global beer volume decreased by 1.2% to 116.4 million hectolitres. However, its eponymous flagship brand managed a year-on-year growth of 4.5% as sales increased particularly in emerging markets like India, Mexico and Vietnam.