Heineken feels pressure on demand

Heineken has suffered from a drop in beer sales and a fall in turnover in the first quarter of 2025. Meanwhile, negotiations with supermarkets remain difficult.

Lower sales despite Asia growth

The Dutch group sold 54.1 million hectolitres of beer last quarter, down 2.1 % on last year. According to CEO Dolf van den Brink, this was partly due to calendar effects, such as the late Easter holiday. Heineken’s total sales for the first quarter amounted to 7.8 billion euros, representing an organic decline of 0.3 %.

At regional level, the picture was mixed: European volumes fell by 4.7 %, while in the Americas the decline was 3.7 %. In contrast, Heineken recorded a 1.3 % growth in Africa and the Middle East and + 2.3 % in Asia-Pacific. Sales suffered from tough price negotiations, weak consumer spending and unfavourable exchange rate effects. Despite this, net profit went up 0.9 % to 6.5 billion euros.

Heineken is nonetheless maintaining its forecasts, aiming to raise operating profit organically by between 4 and 8 for the full year 2025. However, the brewer remains vigilant in the face of a volatile environment, including, of course, US import tariffs. Although Heineken produces 95 % of its beer locally, a third of its Dutch brewing volume is destined for the United States.