Heineken sees beer sales increase, but profits cut in half

Heineken sold slightly more beer last year, but that did not result in a higher turnover or profit. In fact, the Dutch beer giant’s profits fell from 2.3 billion euros in 2023 to just 1 billion euros last year.

Heineken Group attributed the sharp fall in profit mainly to a large write-off in China. Last year, the group wrote off 874 million euros on its investment in CR Beer, the largest brewer in China. Turnover amounted to 36 billion euros, 1.2 percent less than in 2023.

At the same time, Heineken Group’s sales volumes increased by 1.6 percent. The group also includes Amstel and Desperados. The volumes of the Heineken brand grew by 8.8 percent.

According to Heineken, the fact that it sold more beer but turnover fell is because certain currencies have become less valuable. Sales increased particularly in Nigeria, Vietnam, India, Brazil, and Mexico. European sales increased slightly (+0.3 percent), with non-alcoholic beers and siders doing particularly well.

Heineken also increased its beer prices again last year. Worldwide, bottles and cans of Heineken Group beer became 4.1 percent more expensive. In Europe, prices rose by 0.2 percent. Heineken expects more price increases this year.

For 2025, Heineken expects volume and revenue growth. The group is not too concerned about the import tariffs on steel and aluminum the American president Donald Trump announced, CEO Dolf van den Brink said to journalists at the presentation of the annual figures. “Over 80 to 85 percent of our raw materials are from local sources. We think we are in a good position.”