Heineken reiterates full-year outlook as first-half profit rises

(Sharecast News) - Heineken reiterated its full-year outlook on Wednesday after reporting volume growth and higher profits in the first half, supported by its premium brands and productivity savings.

The Dutch brewer continues to expect organic operating profit growth of between 2% and 6% in 2026, but "remain[ed] prudent" about macroeconomic and geopolitical uncertainty, according to chief financial officer Harold van den Broek.

Net revenue increased 4.7% to �14.84bn. On an organic basis, net revenue grew 2.7%, with growth across all regions and net revenue per hectolitre up 2.3%.

Operating profit jumped 48.4% to �2.13bn, though this was largely due to a gain on its previously held equity interest in Heineken Costa Rica. Excluding one-off items and amortisation basis, operating profit rose 6.7% organically to �2.17bn, while the corresponding margin expanded 55 basis points to 14.6%.

Net profit increased 51.2% to �1.13bn, while adjusted diluted earnings per share rose 11.6% to �2.29.

All five of Heineken's global brands delivered growth, with flagship Heineken volumes up 5.3%. Premium volumes rose 6%, beyond-beer products grew 8% and low- and no-alcohol volumes increased 12%.

"We delivered volume growth and robust operating profit expansion, with all five global brands in growth and good momentum in our premium and beyond beer portfolios," van den Broek said.

Free operating cash flow reached �1.4bn, while Heineken declared an interim dividend of �0.76 per share.

At 0830 BST, Heineken shares were up 1.75% at �79.06 in Amsterdam.