HEINEKEN N.V. REPORTS 2025 FULL YEAR RESULTS

Amsterdam, 11 February 2026

HEINEKEN N.V. REPORTS 2025 FULL YEAR RESULTS

Well-balanced performance in challenging market conditions

				IFRS Measures						BEIA Measures
(in € million)				Total growth		(in € million)				Organic growth
Revenue		34,257		-4.7%		Revenue (beia)		34,395		0.2%
Net revenue		28,753		-3.6%		Net revenue (beia)		28,890		1.6%
Operating profit		3,406		-3.2%		Operating profit (beia)		4,385		4.4%
Operating profit margin		11.8%		5 bps		Operating profit (beia) margin		15.2%		41 bps
Net profit		1,885		92.7%		Net profit (beia)		2,662		4.9%
Diluted EPS		3.38		94.3%		Diluted EPS (beia)		4.78		3.6%
						Free operating cash flow		2,602
						Net debt / EBITDA (beia)		2.2x

Unless stated otherwise, all comments and figures in this announcement refer to BEIA metrics, and growth % or bps indicate organic growth, except for Diluted EPS (beia) which is calculated on a constant currency basis.