Heineken Full Year 2024 Earnings: Revenues Beat Expectations, EPS Lags

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editorial-team@simplywallst.com (Simply Wall St)

Tue, Feb 18, 2025, 6:25 AM 1 min read

Heineken (AMS:HEIA) Full Year 2024 Results

Key Financial Results

Revenue: €29.8b (down 1.8% from FY 2023).
Net income: €978.0m (down 58% from FY 2023).
Profit margin: 3.3% (down from 7.6% in FY 2023). The decrease in margin was primarily driven by higher expenses.
EPS: €1.75 (down from €4.09 in FY 2023).

revenue-and-expenses-breakdown — ENXTAM:HEIA Revenue and Expenses Breakdown February 18th 2025

All figures shown in the chart above are for the trailing 12 month (TTM) period

Heineken Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 19%. Earnings per share (EPS) missed analyst estimates by 17%.

The primary driver behind last 12 months revenue was the Europe segment contributing a total revenue of €11.8b (40% of total revenue). Notably, cost of sales worth €19.3b amounted to 65% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to €4.37b (46% of total expenses). Explore how HEIA's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Beverage industry in Europe.

Performance of the market in the Netherlands.

The company's shares are up 15% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 2 warning signs for Heineken that you need to be mindful of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.