Beer giant blames price disputes for declining sales
The Dutch company, which also owns Birra Moretti and Amstel, saw its shares fall after revealing a 1.2 per cent slump in beer volumes during the first half of 2025.
This downturn was particularly pronounced in Brazil, the US, and across several European markets.
European volumes alone plummeted by 4.7 per cent, as major retailers in France, the Netherlands, Germany, and Spain opted to delist the brand in response to planned price increases.
Heineken stated that discussions with these retail groups took longer than anticipated to resolve.
The challenging trading conditions contributed to a 5 per cent drop in group revenues, reaching 16.9 billion euros (£14.6 billion) for the half-year. The brewer also indicated that US tariffs are expected to further impact company profits.
The company said it also saw weaker sales in the US over the period, with beer volumes down by 'high' single digits due to weak consumer sentiment.
It comes as the company is set to be impacted by the proposed 15 per cent tariff on all EU products imported into the US.
In the UK, net revenues, before exceptional items and amortisation, increased by 'low single digits' over the half.
Beers and cider volumes dropped, despite strong growth from its Cruzcampo lager brand.
Its Murphy's stout brand also saw further growth after being boosted by improved distribution and new draughts.
The brand benefited from supply issues from rival stout brand Guinness late last year following soaring demand.
Dolf van den Brink, chief executive and chairman, said: 'We continued to invest in future-proofing our business, strengthening our footprint and brand portfolios, funded by productivity savings.
'Our volume performance improved across all regions in the second quarter and continued to be of high quality.'
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