Heineken (HEIA) AGM 2026 summary

Opening remarks and agenda

• Meeting opened with a welcome to shareholders, board members, and observers, with voting results to be published online.

• Legal formalities for convening the meeting were confirmed, enabling valid resolutions on all voting items.

• Voting instructions and procedures were explained, including digital voting and Q&A protocols.

Board and executive committee updates

• CEO Dolf van den Brink announced his departure effective May 2026, with a careful succession process underway.

• Supervisory Board and executive team reaffirmed commitment to the EverGreen 2030 strategy and organizational stability during transition.

Financial performance review

• 2025 saw autonomous revenue growth of €0.5 billion (1.6%) despite a 2.1% volume decline, offset by a positive price mix.

• Operating profit reached €4.4 billion (BEIA), up 4.4% autonomously, with a margin of 15.2%.

• Net profit increased 4.9% to €2.66 billion; earnings per share rose 3.6% to €4.78.

• Free operating cash flow was €2.6 billion, with a strong cash conversion of 87%.

• Regional performance: Africa/Middle East led profit growth (+62%), Asia-Pacific up 5.1%, Americas down 1.9%, Europe down 4.9%.

• FIFCO acquisition in Central America completed, expected to contribute 2-3% to EPS in 2026.