
Core Viewpoint - The company reported solid profit growth in the first half of the year, with organic operating profit (beia) increasing by 7.4% and net revenue (beia) rising by 2.1% [2][7]. Financial Performance - Revenue reached €16,924 million, with net revenue (beia) showing 2.1% organic growth and a per hectolitre increase of 3.3% [7]. - Operating profit was €1,433 million, with organic growth (beia) of 7.4% [7]. - Diluted EPS (beia) stood at €2.08 [7]. Volume Performance - Mainstream beer volume increased by 0.5%, premium beer volume rose by 1.8%, and Heineken volume grew by 4.5% in the first half [3]. Regional Insights - The African markets led operating profit growth, benefiting from strong portfolios and a transformed cost base [4]. - Profit growth was also supported by portfolio expansion and distribution gains in Vietnam, India, and China [4]. - In Europe, extended retailer negotiations temporarily impacted volume but were deemed important for sustainable category development [4]. - Mexico and Brazil demonstrated resilience in a softer market environment [4]. Strategic Outlook - The company remains agile in its execution, focusing investments on the biggest opportunities, with expected gross savings now exceeding €0.5 billion by 2025 [5]. - The full-year outlook for organic operating profit (beia) growth is confirmed to be between 4% to 8% [5].