In its third-quarter update, the group says volume in the country rose about 5% and revenue more than 10%, as the category returned to growth
Heineken is selling more beer in Brazil again. In its third-quarter trading update, released on Wednesday, October 28, the Dutch brewer said volume in the country grew by around 5% and net revenue rose more than 10% compared with the same period of 2025, at a time when the beer category returned to growth. The company does not disclose exact figures for each country; the release speaks of mid-single-digit volume growth and growth in the teens for revenue.
According to Heineken, Amstel and the Heineken brand grew more than 10% in Brazil, led by Heineken Ultimate 3.5% and Heineken 0.0. The company presents Ultimate 3.5% as a lower-alcohol, lower-calorie and gluten-free beer. Sol Zero, also sold in Brazil, is among the brands that helped drive the low- and no-alcohol segment, which grew by double digits across the group.
Worldwide, Heineken sold 76.0 million hectoliters between July and September, up 4.8% organically. Net revenue was €8.09 billion, up 4.6% organically, and total revenue reached €9.6 billion. All four regions grew. In the Americas, volume rose 2.1% in the quarter after a decline over the year, which stands at -1.6% through September; Mexico also grew. Asia led, up 17.3%.
The Heineken brand grew 9.7% worldwide, with double-digit growth in 22 markets, including Brazil. Amstel grew by a high single digit, led by Brazil, China and South Africa. A stronger Brazilian real also helped when results were converted into euros, according to the company.
We delivered good volume growth of 5%, with positive contributions from all regionsRafa Oliveira, Heineken CEO, in the earnings release
The company kept its forecast of 2% to 6% operating profit growth in 2026. On the call with analysts, chief financial officer Harold van den Broek held a conservative outlook for the Americas, according to Just Drinks.
I don't think that we've turned the corner to consistent positive category growth just yetHarold van den Broek, Heineken CFO, to analysts, according to Just Drinks
Bebidário's catalog includes group brands mentioned in the update, such as Heineken 0.0, Heineken and Amstel Lager, as well as Eisenbahn Pilsen, which Heineken also brews in Brazil.
Sources: Heineken N.V. (October 28, 2026), Just Drinks (October 28, 2026).
