HEINEKEN N.V. REPORTS 2025 FULL YEAR RESULTS

Core Insights - Heineken N.V. reported a well-balanced performance in 2025 despite challenging market conditions, with a total revenue of €34.257 billion, reflecting a decline of 4.7% [1] - The company achieved organic growth in net revenue of 1.6% and operating profit growth of 4.4%, indicating strong productivity gains and margin expansion [2][4] - Heineken's strategic focus includes the disciplined execution of the EverGreen 2030 plan, which aims to accelerate growth and improve operational efficiency [3][7] Financial Performance - Total revenue decreased by 4.7% to €34.257 billion, while net revenue (BEIA) increased by 1.6% to €28.890 billion [1] - Operating profit (BEIA) rose by 4.4% to €4.385 billion, with an operating profit margin of 15.2%, an increase of 41 basis points [1][4] - Net profit (BEIA) was €2.662 billion, up 4.9%, with diluted EPS (BEIA) at €4.78, reflecting a 3.6% increase [1][4] Market Position and Strategy - Heineken's total volume declined by 1.2%, but the company gained market share in over 60% of its markets, with a notable 17.8% increase in licensed volume [4][5] - The company completed the first tranche of a €1.5 billion share buyback program and proposed a dividend of €1.90 per share, with a payout policy expansion to 30%-50% [4][5] - The integration of FIFCO is expected to be immediately accretive to EPS, enhancing Heineken's growth prospects in Central America [4][5] Future Outlook - Heineken anticipates operating profit growth for FY2026 in the range of 2% to 6%, supported by ongoing productivity improvements and operational model changes [4][7] - The company aims to unlock significant savings by reducing 5,000 to 6,000 roles over the next two years, enhancing overall productivity [4][7] - The EverGreen 2030 strategy will focus on sharper resource allocation and value creation, building on the progress made during the EverGreen 2025 initiative [6][7]