The company’s India business net revenue grew by a low single-digit, with premium segment delivering a strong quarter
Driven by its global and premium brands, Heineken posted a net revenue of 6.7 billion euros in the first quarter of 2026, marking a 2.8 per cent growth. While net revenue per hectolitre was up by 3 per cent, total consolidated volume decreased by 0.2 per cent. The company’s India business net revenue grew by a low single-digit.
In India, total volume, which includes contract brewing volume now classified as licensed volume, grew by a mid-single-digit. The premium segment delivered a strong quarter, with growth in the mid-teens, led by Kingfisher Ultra. The company also introduced Kingfisher Smooth, a lower-bitterness beer to reinforce Kingfisher’s leadership in the mainstream segment.
The company’s total consolidated volume decreased slightly by 0.2 per cent, as notable growth in Vietnam, Ethiopia and South Africa was offset by declines in Mexico, Cambodia and Poland and the reclassification of volume at its contract brewers in India to licensed volume.
“We delivered a solid first quarter with quality volume growth, driven by our global and premium brands, and key growth segments. Leveraging our advantaged footprint, the priority markets led the growth. We also welcomed our new colleagues from the Fifco’s beverage and retail businesses acquisition, which will further strengthen our growth profile,” stated Dolf Van Den Brink, Chief Executive Officer, Heineken.
The CEO added that since the start of the year, global trade has become more complex and volatile, with impacts on energy availability and costs in certain markets. This leads to inflationary pressures, which might affect consumer sentiment in the medium-term, the top executive warned.
The company further optimised its footprint by converting its business in the Democratic Republic of Congo to an asset-light licensing model. “Based on our current assessment, we confirm our full year outlook of 2 to 6 per cent organic growth in operating profit,” the company pointed out.
Licensed volume grew 26.1 per cent, led by the growth of Heineken and Amstel by its associate partner China Resources Beer (CRB) in China, as well as by strong performances in Cameroon and the reclassification of volume at its contract brewers in India.
