Heineken revenue down 5% in first half of 2025 on stronger euro

Heineken reported a 5 percent decline in revenue for the first half of 2025, totaling 16.9 billion euros. The Dutch brewer attributed the drop primarily to the stronger euro, which reduced the value of its foreign earnings when converted to euros — particularly from markets such as Mexico, Brazil, and Ethiopia.

Despite strong performance in parts of Africa, including Nigeria and Ethiopia, Heineken sold 1.2 percent less beer globally compared to the same period last year. The total volume dropped to 116.4 million hectoliters. Weaker sales in the United States, Brazil, and various European countries contributed to the overall decline.

The European beer market has reportedly been shrinking for some time, and Heineken continued to feel the impact in 2025. In the Netherlands, domestic beer consumption has also decreased, further affecting performance in the region.

In Europe, Heineken faced difficulties in negotiations with major buyers. The company had been in a prolonged dispute with Dutch supermarket chain Jumbo, which had stopped selling Heineken brands for several months. That standoff ended last week with a new agreement between the two parties. As of now, Heineken brands including Amstel, Texels, and Affligem are once again available on Jumbo shelves.