Heineken N.V. reports 2024 full year results
Amsterdam, 12 February 2025 - Heineken N.V. (HEINEKEN) [(EURONEXT: HEIA; OTCQX: HEINY)] announces:
Solid results with broad-based growth and profit expansion in 2024
| Key Highlights |
- Revenue €35,955 million
- Net revenue (beia) 5.0% organic growth, per hectolitre 3.5%
- Beer volume 1.6% organic growth; Heineken® volume up 8.8%
- Operating profit €3,517 million; operating profit (beia) 8.3% organic growth
- Operating profit (beia) margin 15.1%, up 40 bps
- Net profit €978 million; net profit (beia) 7.3% organic growth
- Diluted EPS (beia) €4.89
- Free Operating Cash Flow €3,058 million
- HEINEKEN to launch two-year €1.5 billion share buyback programme
- Full year 2025 outlook: 4% to 8% operating profit (beia) organic growth
| CEO Statement |
Dolf van den Brink, Chairman of the Executive Board / CEO, commented:
"We delivered solid results with broad-based growth and profit expansion in 2024. Beer volume grew organically by 1.6%, and net revenue (beia) was up 5.0% with strong operating profit (beia) growth of 8.3%. Notably, our beer volume expanded in all four regions, across both developed and emerging markets.
Our EverGreen strategy continued to shape operations. Premium volume grew 5%, led globally by Heineken®, which was up 9%. Mainstream beer volume rose 2%, spearheaded by the leading brands in our largest markets, including Amstel in Brazil, Cruzcampo in the UK, and Kingfisher in India. The beyond beer segment grew 4%, led by Desperados globally and Savanna cider in Southern Africa. Heineken® 0.0 grew 10%, reinforcing our global leadership in non-alcoholic beer.
Gross savings exceeded €0.6 billion, supporting a 40 bps operating margin (beia) expansion. Marketing and selling investment increased by €0.3 billion, a double-digit organic increase, and we stepped up funding behind our digital and technology initiatives. Capital productivity focus helped deliver a strong free operating cash flow, exceeding €3 billion.
Looking ahead, we are well-positioned to further increase our investment in marketing and selling and behind our EverGreen priorities in 2025. We expect to grow operating profit (beia) organically in the range of 4% to 8%."
| Enquiries |
| Media | Investors | |
| Christiaan Prins | Tristan van Strien | |
| Director of Global Communication | Global Director of Investor Relations | |
| Marlie Paauw | Lennart Scholtus / Chris Steyn | |
| Corporate Communications Lead | Investor Relations Manager / Senior Analyst | |
| E-mail: pressoffice@heineken.com (mailto:pressoffice@heineken.com) | E-mail: investors@heineken.com (mailto:investors@heineken.com) | |
| Tel: +31-20-5239355 | Tel: +31-20-5239590 |
| Conference Call Details |
HEINEKEN will host an analyst and investor video webcast about its 2024 FY results today, 12 February, at 14:00 CET/ 13:00 GMT/ 08.00 EST. The live video webcast will be accessible via the company's website: https://www.theheinekencompany.com/investors/results-reports-webcasts-and-presentations.
An audio replay service will also be made available after the webcast at the above web address. Analysts and investors can dial-in using the following telephone numbers:
| United Kingdom (local): +44 20 3936 2999 |
| Netherlands (local): +31 85 888 7233 |
| United States: +1 646 787 9445 |
| All other locations: +44 20 3936 2999 |
| For the full list of dial in numbers, please refer to the following link: Global Dial-In Numbers (https://www.netroadshow.com/events/global-numbers?confId=59791) |
| Participation password for all countries: 962302 |
Attachment
- 2024 FYPR_Final.pdf (https://ml-eu.globenewswire.com/Resource/Download/c01888b6-73da-4e7f-95e8-c4ec19a27a66)
