Heineken’s Q1 sales soar to €7.2bn, beating forecasts with Nigeria, Vietnam growth

Heineken NV reported a 4.8% rise in first-quarter net revenue to €7.2 billion, surpassing Bloomberg’s €7 billion forecast, driven by robust demand in Africa and Asia, the company announced Tuesday. 

Beer volumes grew 2.9% to 52 million hectoliters, with Nigeria and Vietnam posting 10% and 8% increases, respectively, fueled by urban youth markets, per company data. The Dutch brewer’s premium brands, like Heineken Original, saw 6% volume growth, outpacing rivals AB InBev’s 1.3%, per Reuters.

CEO Dolf van den Brink credited price hikes of 3% and a 15% e-commerce surge, with 1.2 million online orders in Q1, per Statista. Europe lagged, with flat sales amid 2% inflation, but Africa’s 20% market share gain offset losses. 

Heineken’s shares rose 2.5% to €92 on Euronext, reflecting investor confidence despite a 5% raw material cost spike, per WSJ. The company maintained its 2025 profit forecast of 4-8% growth, eyeing Nigeria’s 200 million population and Asia’s rising middle class, projected to hit 3.5 billion by 2030, per OECD.