啤酒巨头“过冬”：百威亚太盈利创新低，喜力全球裁员5000+

Core Insights - Major international beer companies are revealing their financial results, indicating a trend of slowing growth and declining sales [2][4] Group 1: Heineken Group - Heineken reported a net revenue of €28.753 billion for 2025, with a net profit of €1.885 billion, both showing a decline for two consecutive years [2] - The company has lowered its growth expectations for 2026 and plans to save €400-500 million, including layoffs of 5,000 to 6,000 employees [2][10] - Heineken's overall performance showed a decline in sales revenue, operating profit, and volume, with a 4.7% drop in revenue and a 1.2% decrease in volume for 2025 [5][6] - Despite the overall decline, Heineken achieved double-digit growth in 27 markets and emphasized maintaining or increasing market share in over 60% of its markets [7][6] - In China, Heineken's sales continued to grow, with significant contributions from its local partner, China Resources Beer [8] Group 2: Budweiser APAC - Budweiser APAC reported a revenue of $5.764 billion for 2025, with a 6.1% year-on-year decline in organic revenue and a 9.8% drop in normalized EBITDA [2][12] - The company faced significant challenges, with net profit dropping over 32% to $489 million, marking a new low since its listing [2][12] - In China, Budweiser's revenue fell by 11.3%, with a 15.7% decline in normalized EBITDA and an 8.6% drop in volume for 2025 [14][16] - Budweiser aims to restore growth in China, focusing on enhancing its product mix and increasing investment in non-immediate consumption channels [18][16]