Heineken Reports 4.6% Organic Net Revenue Growth as Asian Demand Strengthens
The Dutch brewer recorded higher volumes across its regions and maintained its full-year operating profit outlook despite slower growth in revenue per unit.
Heineken reported 4.6% organic growth in third-quarter 2026 net revenue, with volumes increasing across its four major geographic regions, according to a trading update released on October 28.
The Dutch beverage producer recorded €8.09 billion in net revenue before exceptional items and amortisation, known as BEIA, and €9.56 billion in reported revenue. Organic total volume increased 4.8%, while consolidated volume, excluding certain licensed sales, rose 3.9%. The distinction matters because the measures cover different portions of the business.
Asia Pacific recorded particularly strong volume growth, supported by markets including Vietnam, China and India. Premium products grew faster than the overall portfolio, with premium volume rising 11.5% and the Heineken-branded product's volume up 9.7%.
Revenue per hectolitre rose only 0.7%, reflecting the effect of sales growth in markets with lower average prices. The company said positive pricing and product mix were partly offset by a shift in the geographic composition of sales.
Heineken reaffirmed its 2026 forecast for 2% to 6% organic growth in operating profit. Chief executive Rafael Oliveira, who took over this month, said the company still needs to improve execution and accountability. The outlook is a management projection, not a reported full-year result.
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