olivLaw · European equity research
Heineken N.V. HEIA.AS
Netherlands · Euronext Amsterdam · ISIN NL0000009165 · Vertical: Listed companies from Netherlands
Heineken N.V. is one of the world's largest brewers, operating across four regions, Africa & Middle East, Americas, Asia Pacific and Europe. The company is in a leadership transition, as its chair and CEO has announced he will step down in May 2026, within the context of the new EverGreen 2030 strategy.
At the close of 05 Nov 2026, Heineken N.V. (HEIA.AS) stock was 84.02 EUR (+1.01% on the day), with market capitalisation 46.7 bn EUR, P/E 24.9 on diluted EPS of 3.38 EUR over the last 12 months, dividend yield 2.73%, beta 0.34, 52-week range 64.46–84.02 EUR.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 81.3
- overbought (≥ 70)
- Bollinger (20, 2)
- 70.54 – 83.95
- above the upper band · %B 1.01 · band width 17.4%
- SMA 50 / 200
- 73.65 / 72.07
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 2.64 / 1.97
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | +19.6% | −0.6% | +20.3 pp | — |
| 3 months | +6.9% | −4.2% | +11.1 pp | — |
| 6 months | +27.2% | +4.3% | +22.9 pp | — |
| Year to date | +20.5% | +7.5% | +13.0 pp | — |
| 1 year | +20.9% | +9.9% | +11.0 pp | −0.2% |
| 3 years | −3.0% | +49.8% | −52.9 pp | +2.2% |
| 5 years | −13.7% | +42.8% | −56.6 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 67 percentile of its own 3-quarter history (min 20.6, median 22.5, max 39.5; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 36.4 bn | 36.0 bn | 34.3 bn |
| Revenue YoY | unavailable | −1.2% | −4.7% |
| Net income | 2.3 bn | 978.0 m | 1.9 bn |
| Net income YoY | unavailable | −57.6% | +92.7% |
| Diluted EPS | 4.09 | 1.74 | 3.38 |
| Diluted EPS YoY | unavailable | −57.5% | +94.3% |
| net % | 6.3% | 2.7% | 5.5% |
| Free cash flow | 2.0 bn | 3.3 bn | 2.9 bn |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 4.8 bn EUR
- Financial debt
- 19.3 bn EUR
- Net debt
- 14.5 bn EUR
- Equity
- 20.6 bn EUR
- Total assets
- 53.8 bn EUR
- Debt / equity
- 0.94x
- Current ratio
- 0.93x
- ROE
- 8.8%
- ROA
- 3.5%
- FCF margin
- 8.4%
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 36.4 bn | 36.0 bn | 34.3 bn | esef· 17 Feb 2026verified |
| Operating income | 3.2 bn | 3.5 bn | 3.4 bn | esef· 17 Feb 2026verified |
| Pre-tax income | 2.5 bn | 2.0 bn | 3.0 bn | esef· 17 Feb 2026verified |
| Income tax | 121.0 m | 846.0 m | 857.0 m | esef· 17 Feb 2026verified |
| Net income | 2.3 bn | 978.0 m | 1.9 bn | esef· 17 Feb 2026verified |
| Diluted EPS | 4.09 | 1.74 | 3.38 | esef· 17 Feb 2026verified |
| Weighted average diluted shares | 564.0 m | 560.6 m | 557.0 m | esef· 17 Feb 2026verified |
| Dividend per share | 2.37 | 2.15 | 2.29 | esef· 17 Feb 2026derived |
Balance sheet · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 2.4 bn | 2.4 bn | 4.8 bn | esef· 17 Feb 2026verified |
| Receivables | 5.0 bn | 4.6 bn | 4.5 bn | esef· 17 Feb 2026verified |
| Inventories | 3.7 bn | 3.6 bn | 3.3 bn | esef· 17 Feb 2026verified |
| Current assets | 11.4 bn | 10.9 bn | 12.9 bn | esef· 17 Feb 2026verified |
| Total assets | 55.2 bn | 53.8 bn | 53.8 bn | esef· 17 Feb 2026verified |
| Accounts payable | 9.4 bn | 9.9 bn | 9.5 bn | esef· 17 Feb 2026verified |
| Short-term debt | 4.2 bn | 3.3 bn | 3.1 bn | esef· 17 Feb 2026verified |
| Long-term debt | 14.0 bn | 13.8 bn | 16.2 bn | esef· 17 Feb 2026verified |
| Current liabilities | 14.8 bn | 14.2 bn | 13.9 bn | esef· 17 Feb 2026verified |
| Equity | 22.8 bn | 22.4 bn | 20.6 bn | esef· 17 Feb 2026verified |
| Shares outstanding at year end | 563.3 m | 558.9 m | 556.0 m | esef· 17 Feb 2026derived |
Cash flow · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 4.4 bn | 5.5 bn | 5.0 bn | esef· 17 Feb 2026verified |
| Capex | 2.4 bn | 2.2 bn | 2.1 bn | esef· 17 Feb 2026verified |
| Free cash flow | 2.0 bn ≈ | 3.3 bn ≈ | 2.9 bn ≈ | esef· 17 Feb 2026derived |
| Investing cash flow | -3.6 bn | -2.4 bn | -2.5 bn | esef· 17 Feb 2026verified |
| Financing cash flow | -816.0 m | -2.6 bn | 153.0 m | esef· 17 Feb 2026verified |
| Dividends paid | 1.3 bn | 1.2 bn | 1.3 bn | esef· 17 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 56.2% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 46.7 bn EUR
Key indicators
Coverage and freshness
Score by group
56% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 31.21 – 86.75 EUR.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (EUR per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E35.68 – 86.75 (Mid 49.04)16 companies used · median multiple 14.5x · quartiles 10.6x – 25.7xAALB.AS, ACOMO.AS, AD.AS, ADYEN.AS, AKZA.AS, ARCAD.AS, ASM.AS, ASML.AS, AXS.AS, BAMNB.AS, BNJ.AS, CRBN.AS, CTAC.AS, ECMPA.AS, FFARM.AS, HAL.AS
- Dividend discount (DDM)31.21 – 42.56 (Mid 36.01)
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 56.2% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 6.7% | 50 (vs peers) | 19% |
| Net margin · Quality | 5.5% | 69 (vs peers) | 11% |
| FCF conversion · Quality | 152.7% | 100 (on a fixed band) | 11% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 0.9x | 10 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | 24.9x | 48 (vs peers) | 19% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 6.2% | 77 (on a fixed band) | 15% |
| Shareholder yield (distributions) · Returns | 2.7% | 39 (on a fixed band) | 11% |
| Payout ratio (FCF) · Returns | 44.3% | 100 (on a fixed band) | 7% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial10/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality69/100 · 3/3 factors with a value
- Returns63/100 · 2/2 factors with a value
- Valuation61/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Heineken N.V. (HEIA.AS). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 34.3 bn EUR in 2025; YoY growth -4.7%; net margin 5.5%; ROE 10.0%.
The estimated value range is 33.45–64.66 EUR per share (median of 2 methods, agreement: high); assumptions are illustrative. Against the central value of 42.53 EUR, the price of 84.02 EUR leaves a potential of -49.4% (value / price − 1) and a margin of safety of -97.6% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 56.2% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 152.7%
- FCF yield: 6.2%
- Payout ratio (FCF): 44.3%
What contradicts it
- Current ratio: 0.9x
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, EV/EBITDA.
Versus the vertical median
Listed companies from Netherlands · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ASML.ASASML Holding N.V. | 485.6 bn | 47.6 | 44.2% | 31.3% | +15.6% | +38% / +101% |
| HEIA.ASHeineken N.V. | 46.7 bn | 24.9 | 10.0% | 5.5% | −4.7% | +20% / +0% |
| DSFIR.ASDSM-Firmenich AG | 33.7 bn | 120.5 | 1.2% | 2.2% | +20.4% | +60% / +30% |
| AD.ASKoninklijke Ahold Delhaize N.V. | 31.2 bn | 13.9 | 15.3% | 2.5% | +3.4% | −3% / +30% |
| ASM.ASASM International N.V. | 31.2 bn | 43.3 | 18.7% | 22.8% | +8.2% | +34% / +35% |
| ADYEN.ASAdyen N.V. | 28.1 bn | 26.6 | 22.3% | 40.1% | +18.9% | −33% / −17% |
| HAL.ASHAL Trust | 15.5 bn | 9.7 | 10.5% | 12.8% | +1.2% | +22% / +47% |
| EXO.ASExor N.V. | 15.0 bn | — | -10.6% | — | −100.0% | +1% / −18% |
| BESI.ASBE Semiconductor Industries N.V. | 11.2 bn | 84.9 | 28.7% | 22.3% | −2.7% | +8% / +10% |
| AKZA.ASAkzo Nobel N.V. | 10.7 bn | 17.0 | 13.8% | 6.3% | −5.2% | +12% / −11% |
| AALB.ASAalberts N.V. | 4.5 bn | 25.4 | 7.2% | 5.7% | −5.3% | +48% / +13% |
| ARCAD.ASArcadis N.V. | 4.2 bn | 20.2 | 18.3% | 4.3% | −2.4% | +24% / +2% |
| BNJ.ASBanijay Group N.V. | 3.4 bn | 13.8 | 343.8% | 5.1% | +1.6% | −11% / −8% |
| BAMNB.ASKoninklijke BAM Groep N.V. | 3.3 bn | 41.8 | 9.1% | 1.3% | +2.9% | +47% / +400% |
| BFIT.ASBasic-Fit N.V. | 2.0 bn | 138.2 | 3.6% | 1.0% | +16.9% | +7% / +16% |
| CRBN.ASCorbion N.V. | 1.6 bn | 8.3 | 27.3% | 14.9% | +1.9% | +40% / +55% |
| ECMPA.ASEurocommercial Properties N.V. | 1.4 bn | 11.2 | 5.9% | 45.4% | +4.2% | −4% / +19% |
| FUR.ASFugro N.V. | 985.3 m | — | -1.5% | -1.1% | −18.8% | −0% / −49% |
| ACOMO.ASAcomo N.V. | 685.9 m | 15.2 | 10.7% | 3.3% | +7.6% | −3% / +37% |
| FAST.ASFastned B.V. | 663.0 m | — | -28.2% | -21.7% | +66.1% | +60% / +25% |
| FFARM.ASForFarmers N.V. | 479.4 m | 9.6 | 14.5% | 1.6% | +14.8% | +22% / +123% |
| BRNL.ASBrunel International N.V. | 383.2 m | 125.5 | 1.0% | 0.3% | −10.8% | −6% / −29% |
| ENVI.ASEnvipco Holding N.V. | 224.1 m | — | -12.7% | -11.9% | −20.8% | −25% / +47% |
| ALFEN.ASAlfen N.V. | 219.8 m | — | -0.1% | -0.0% | −10.7% | −4% / −78% |
| CMCOM.ASCM.com N.V. | 192.5 m | — | -22.2% | -1.5% | −5.4% | +23% / −30% |
1- and 3-year price returns: for HEIA.AS from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (EUR)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 45.19 Total return -44% · Per year -44% | 80.29 Total return -2% · Per year -2% | 121.47 Total return 48% · Per year 48% |
| 3 years | 36.11 Total return -52% · Per year -22% | 72.88 Total return -6% · Per year -2% | 122.15 Total return 55% · Per year 16% |
| 5 years | 28.85 Total return -58% · Per year -16% | 66.16 Total return -9% · Per year -2% | 122.83 Total return 62% · Per year 10% |
- Exit P/E± 18.22
- Net margin± 12.75
- Annual revenue growth± 11.49
- Annual dilution± 1.07
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Heineken N.V. is one of the world's largest brewers, operating across four regions, Africa & Middle East, Americas, Asia Pacific and Europe. The company is in a leadership transition, as its chair and CEO has announced he will step down in May 2026, within the context of the new EverGreen 2030 strategy.
SWOT
Strengths
- A clear governance structure, with a Supervisory Board of independent members and an Executive Board with a defined mandate.
- A risk management framework based on the three lines model and a Risk Committee chaired by the CFO.
Weaknesses
- Gender representation on the Executive Board and senior management is limited, and the report acknowledges more progress is needed.
- The Executive Board has only two members, which limits flexibility in succession planning.
- The company has significant exposure to markets with high economic and political uncertainty.
Opportunities
- If the EverGreen 2030 strategy is executed successfully, it could support profitable growth over the long term.
- Responsible consumption campaigns could strengthen brand reputation and relations with regulators.
- Asia Pacific markets, highlighted in the Supervisory Board's visit, could offer growth opportunities.
Threats
- Tighter restrictions on alcohol advertising, labelling and sales could reduce consumption.
- A slowdown in the global economy and lower consumer incomes could weigh on sales.
- Trade tensions and environmental regulation changes could raise compliance costs.
Risks
- Alcohol regulationhigh
Authorities may introduce restrictions on advertising, sponsorship, product availability, taxes or minimum pricing, which could limit the company's operations.
- Economic and political instabilityhigh
Recession, trade restrictions, inflation and currency swings could affect revenues and profits if they materialise.
- Environmental legislationmedium
New environmental rules could lead to legal claims, higher compliance costs and restrictions on production and packaging.
- Leadership transitionmedium
The planned departure of the CEO in May 2026 could create uncertainty over the continuity of strategy.
- Reporting compliancelow
Internal control systems have inherent limits and cannot fully prevent errors or non-compliance, which could affect reporting reliability.
Investment thesis
What would need to be true (bull case)
- If the EverGreen 2030 strategy succeeds, the company could sustain growth across its regions and strengthen its long-term position.
- A governance structure with independent supervisors and a well-defined risk framework may reduce operational uncertainty.
- A presence on several continents and a focus on cost reduction could support profit margins during periods of volatility.
What would break the thesis
- Tighter restrictions on alcohol could reduce consumption in several key markets and limit marketing options.
- A slowdown in the global economy and weaker purchasing power could weigh on sales and returns.
- The CEO's departure and leadership handover could create a period of uncertainty in executing the strategy.
What to watch
- Appointment and transition of the new CEO, following the announced departure of the current CEO2026
- Developments in advertising and alcohol sales regulation in major markets2026
- Progress on the targets of the EverGreen 2030 strategy2027
- Next annual report and any changes to the Executive Board and Supervisory Board compositionnext annual report
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Heineken N.V. has a two-tier management structure, made up of an Executive Board with two executive members and a Supervisory Board with nine non-executive members, both independent of one another and accountable to the Annual General Meeting 1. Its long-term strategy is EverGreen 2030, launched in 2025 as a natural evolution of EverGreen 2025 1. According to the annual report for the year ended 31 December 2025, the company organises its activities across four operating regions, each headed by a regional President 1.
The Executive Team brings together the two Executive Board members, the four regional Presidents and five functional Chief Officers covering commerce, corporate affairs, digital and technology, people and supply chain 1. Risk management follows a three lines model, and the Risk Committee is chaired by the CFO 1.
The company states that its purpose and values aim at sustainable long-term value creation, and a Code of Business Conduct guides employee behaviour 1. Its diversity policy targets a balanced gender representation on the Executive Board, but the report acknowledges there is room for improvement 1.
Segments
Operating regions
Heineken manages its business in four regions: Africa & Middle East, Americas, Asia Pacific and Europe, each with a regional President who sits on the Executive Team 1. In 2025 the Executive Board and Supervisory Board made a four-day visit to India focused on operations and market dynamics in India and the wider Asia Pacific region, including presentations from Vietnam, Indonesia and Laos 1.
Market context
The annual report describes the markets Heineken operates in as affected by global economic and political uncertainty, including the war in Ukraine, conflicts in Africa and the Middle East, and trade tensions between the US and China 1. Elevated inflation and tighter monetary policy have increased risks to global growth, and the company identifies tighter restrictions on alcohol consumption and sales in several markets 1.
The regulatory environment is changing quickly, particularly on alcohol, advertising and the environment, which could limit the company's freedom to operate or increase compliance costs 1. The report notes that the pace and scale of environment-related changes affecting operations are accelerating 1.
Trends
- Global economic uncertaintyheadwind
A slowdown in the global economy, lower real disposable income and weaker consumer sentiment could affect demand and profits 1.
- Alcohol regulationheadwind
Governments are introducing restrictions on marketing, labelling and access to products, which could reduce overall consumption or push consumers toward other beverage categories 1.
- Environmental legislationmixed
New environmental rules require significant sustainability investment, creating tension between adapting quickly and the financial impact on the company 1.
- EverGreen 2030 strategytailwind
The five-year strategy launched in 2025 emphasises funding growth and fuelling profit, and if execution succeeds it could support long-term performance 1.
Competitive position
The annual report does not describe competitors in detail, and the company's competitive position is not set out in the sources reviewed. Heineken does refer to its aim of leveraging its competitive advantage through its strategy, without naming specific rivals 1.
Competitive risk is mainly tied to the company's ability to adapt operations and strategy quickly to changes in markets, regulation and consumer behaviour 1.
- Competitors not named in the source
The source reviewed does not identify direct competitors by name, so no further details are given.
News & filings
In the press
- PepsiCo, P&G, L’Oreal, Heineken şi alte nouă grupuri multinaţionale lansează Asociaţia Română a Produselor de Marcă. Care este rolul acesteia?Ziarul Financiar · 30 Oct 2026 · RO
- Heineken Volumes Beat Estimates in Early Boost for New CEOBloomberg Markets · 28 Oct 2026 · EN
- EU alcohol industry defies Heineken’s warning on weight-loss drugsEuractiv · 28 Oct 2026 · EN
- Heineken предупредил британские бары о рисках препаратов для похуденияKommersant (RU) · 23 Oct 2026 · RU
- Compania olandeză Heineken, îngrijorată că medicamentele pentru slăbit ar putea reduce vânzările de bereG4Media · 23 Oct 2026 · RO
- Boom in weight-loss drugs could lead to drop in beer sales, Heineken warns British pubsThe Guardian World · 23 Oct 2026 · EN
- David & Baias și Peligrad Law câștigă definitiv, la Înalta Curte, litigiul HEINEKEN România privind clasificarea tarifară a cidrului Strongbow și tratamentul fiscal al serviciilor OIREPJuridice.ro · 23 Oct 2026 · RO
- Heineken, îngrijorată că medicamentele pentru slăbit ar putea reduce vânzările de bere. Avertismentul companiei pentru baruriMediafax · 23 Oct 2026 · RO
- Gigantul Heineken, obligat să plătească 111.000.000 de euro unui rival din GreciaLibertatea.ro · 22 Oct 2026 · RO
- Heineken, obligată să plătească despăgubiri și dobânzi de 111 milioane de euro unui berar rival din GreciaProfit.ro · 21 Oct 2026 · RO
- Investiție Heineken în România. Producătorul de bere cumpără o nouă hală industrială în MureșProfit.ro · 29 Sept 2026 · RO
- Heineken Sees Vietnam, India, China as Growth MarketsBloomberg Markets · 28 Sept 2026 · EN
- FOTO INEDIT Bere gratis în România, pentru cine primește mesaje vocale de minimum 2 minute prin WhatsApp. Condițiile HeinekenProfit.ro · 07 Sept 2026 · RO
- Heineken pours Asia-Pacific beer efforts into Vietnam expansionNikkei Asia · 04 Sept 2026 · EN
- Drama din spatele unei averi de peste 13 miliarde de euro / Fiica moștenitoarei Heineken, victimă a unei false vindecătoare / Isabella de Carvalho-Heineken vorbește despre anii de captivitate și abuzuriG4Media · 31 Aug 2026 · RO
- Heineken отчиталась о росте прибыли и сокращении 3 тыс. сотрудниковKommersant (RU) · 05 Aug 2026 · RU
- Heineken® revine la Electric Castle 2026 şi aduce în premieră în România Foam Infusions, o experienţă de degustare inedită disponibilă exclusiv la festival. În al doilea an consecutiv în calitate de partener oficial al festivalului, brandul de bere îi aduce împreună pe fanii muzicii, la Heineken® HouseZiarul Financiar · 07 Jul 2026 · RO
- Stockday, pariul din e-commerce al Heineken şi Coca-Cola HBC, a ajuns de la zero la afaceri de 787 mil. lei în mai puţin de zece aniZiarul Financiar · 06 Jul 2026 · RO
- Heineken revine la Electric Castle 2026 și aduce în premieră în România Foam Infusions, o experiență de degustare inedită disponibilă exclusiv la festivalSpotMedia.ro · 06 Jul 2026 · RO
- Heineken Names Coffee CEO Oliveira to Lead TurnaroundBloomberg Markets · 23 Jun 2026 · EN
Annual reports (ESEF)
- Annual report 202517 Feb 2026
- Annual report 202404 Mar 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / Heineken N.V. · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.