Heineken Reports Higher Sales Volume Despite Revenue Decline

Heineken reported a 1.6% increase in beer sales volume in 2024, exceeding analysts’ forecast of 1.3% growth and marking a recovery from the 4.7% decline recorded in 2023. However, the Dutch brewer saw a slight drop in revenue, reporting US$37.3 billion in 2024 compared to US$38.2 billion in the previous year.  

Net profit fell 57.6% to US$1.01 billion from US$2.4 billion in 2023, largely due to the depreciation of Heineken’s stake in China Resources Beer on the Hong Kong exchange. The company had previously disclosed this challenge in its 1H24 results.  

Despite ongoing economic challenges, including weak consumer confidence in Europe, inflationary pressures, currency depreciation in emerging markets, and geopolitical instability, Heineken expects continued growth in volume and revenue.