Core Insights - Marc Busain, President of HEINEKEN Americas, will step down effective October 1, 2025, to become CEO of LIPTON Teas and Infusions [1] - Busain has had a successful 30-year career at HEINEKEN, with the last 10 years as President of the Americas, where he significantly contributed to the company's growth [2][3] Company Performance - Under Busain's leadership, the Americas region doubled its revenue, operating profit, and net profit over the past decade [3] - Key markets such as Mexico and Brazil became major profit contributors, with Brazil emerging as the largest market for Heineken® and Amstel [3] Strategic Contributions - Busain played a crucial role in the acquisition and integration of Brazil Kirin, enhancing HEINEKEN's market position in Brazil [3] - He led transformations in supply chain efficiency, revenue management, and the implementation of AI-driven sales tools [3] - Premiumisation and the expansion of Heineken® 0.0 were significant growth strategies during his tenure [3] Leadership and Culture - HEINEKEN's Chairman expressed gratitude for Busain's contributions, highlighting his commitment to building strong teams and mentoring future leaders [4] - Busain cultivated a winning culture in the Americas, emphasizing trust and empowerment [4]

Core Insights - HEINEKEN inaugurated the Dr. H.P. Heineken Centre, a new €45 million Global Research and Development Centre in Zoeterwoude, Netherlands, aimed at enhancing brewing techniques and developing new beverages [1][7][11] - The Centre will focus on innovation in response to changing consumer preferences, including new flavors, natural ingredients, and low- or no-alcohol options [2][5] - The facility is strategically located near leading universities, fostering collaboration in sustainable brewing and fermentation science [6][8] Investment and Infrastructure - The Centre spans 8,800 m² and is designed to support HEINEKEN's global R&D network, which includes hubs in Mexico, South Africa, and Vietnam [11] - It will house around 100 employees from 12 nationalities, focusing on brewing innovation, flavor research, and sustainability [11] - The building meets BENG standards with an A++++ energy label, emphasizing HEINEKEN's commitment to sustainability [11] Strategic Goals - The Centre is part of HEINEKEN's EverGreen Strategy, aimed at innovating faster and smarter while reducing environmental impact [5] - It aims to connect HEINEKEN's brewing legacy with modern science, ensuring the development of products that resonate with future drinking cultures [5][7] - The investment reinforces the Netherlands' position in the global food technology sector and contributes to the knowledge economy through partnerships with universities [8]

Group 1 - Heineken reported a mid-single-digit decline in both sales volume and revenue in the Brazilian market for Q1 FY2025, attributed to last year's high base effect [1] - The management indicated a market share growth from a "sold" perspective, with the mainstream product line, particularly the Amstel brand, showing a slight increase in sales volume [1] - Goldman Sachs views the flat year-on-year pricing as a negative surprise, reinforcing concerns about an increasingly competitive environment and some consumers shifting to lower-priced brands [1] Group 2 - Ambev is the largest beer brewer in Latin America and the Caribbean, and a subsidiary of Anheuser-Busch InBev, producing and distributing beer and PepsiCo products in Brazil and other Latin American countries [2] - Key upside risks for Ambev's stock price include higher dividend payout rates, faster-than-expected recovery of the Skol brand in Brazil, currency appreciation, and cost reductions [2] - Maintaining market share, achieving sales growth, and actual price increases in the Brazilian market, along with improvements in Argentina's macroeconomic conditions and the continuation of certain tax incentives in Brazil, are also considered potential positive factors [2]

Core Insights - Heineken Holding N.V. reported its first quarter performance for 2025, indicating that results were as anticipated and the full-year outlook remains unchanged [2][10] Financial Performance - Revenue for the first quarter was €7.8 billion, with net revenue (beia) showing an organic increase of 0.9% and net revenue (beia) per hectolitre up by 3.3% [4][10] - Total consolidated volume decreased by 2.4%, while the price-mix on a constant geographic basis increased by 4.1% due to pricing strategies to counter inflation and premiumisation [4][10] - Currency translation negatively impacted net revenue (beia) by €345 million, primarily due to the strengthening of the Euro against currencies like the Mexican Peso and Brazilian Real [5][10] Volume and Market Share - Beer volume decreased organically by 2.1%, attributed to calendar timing effects, including a later Easter and the earlier timing of Tết [8][10] - Despite the overall volume decline, Heineken is gaining or holding market share in more than half of its markets year-to-date [8] Premium Segment Performance - Premium beer volume increased organically by 1.8%, outperforming the total beer portfolio, with significant growth in markets such as Vietnam, India, and Nigeria [11][12] - Heineken® brand volume grew by 4.6%, with double-digit growth in 25 markets, including Vietnam and China [12][13] Outlook and Strategic Initiatives - The company anticipates ongoing macroeconomic volatility, including global inflationary pressures and currency devaluations, but maintains its full-year expectations of 4% to 8% organic growth in operating profit (beia) [14][16] - Heineken is focusing on capital allocation and productivity initiatives to navigate the fluctuating environment while continuing to invest in growth opportunities [15][16] Share Buyback Program - Heineken has initiated a two-year share buyback program for a total of €750 million, with the first tranche of €375 million expected to be completed by January 2026 [17][18]