Brewer kept its FY2026 operating profit growth outlook at 2% to 6% as volume rose 1.6%, free operating cash flow reached €1.4 billion and EverGreen 2030 execution accelerated.
Heineken reported stronger first-half 2026 results, with volume growth, margin expansion and solid cash generation supporting its EverGreen 2030 strategy. Operating profit (beia) rose 6.7% to €2,170 million, while the operating profit margin widened 55 basis points to 14.6%. Net revenue (beia) increased 2.7% to €14,834 million, with net revenue per hectolitre up 2.3%, and total volume climbed 1.6% as momentum improved in the second quarter. The brewer said all five global brands grew, with Heineken® volume up 5.3% and Tiger returning to volume growth, while premium, beyond beer and LoNo (low- and no-alcohol drinks) outpaced the wider portfolio. Free operating cash flow came in at €1.4 billion and the cash conversion ratio reached 97%. The company said it reduced FTEs (full-time equivalent roles) by about 3,000 in the first half, kept gross savings on track at the top end of its €400–500 million range, and reiterated FY2026 operating profit growth guidance of 2% to 6%.