Brewing giant Heineken has reported falling beer sales after tense price negotiations with European retailers over the first half of the year.
The Dutch company saw shares dip as it warned that proposed US tariffs could further impact profits.
The brewer, which also makes Birra Moretti and Amstel, recorded a 1.2% drop in beer volumes during the first six months of 2025, driven by weaker performance in Brazil, the United States and parts of Europe.
It said European volumes dropped by 4.7% after a number of retailers, primarily in France, the Netherlands, Germany and Spain, pulled the brand due to planned price increases.
Group revenues fell by 5% to 16.9 billion euros (£14.6 billion) for the half-year period.
Heineken also reported weaker US sales over the period, with beer volumes down by "high" single digits due to weak consumer sentiment.
US tariffs could threaten profits
It comes as the company is set to be impacted by the proposed 15% tariff on all EU products imported into the US.
In the UK, net revenues before exceptional items and amortisation increased by "low single digits" over the half-year.
Beer and cider volumes dropped, despite strong growth from its Cruzcampo lager brand.
Heineken's Murphy's stout brand continued to grow after benefiting from improved distribution and new draughts.
The brand benefited from supply issues from rival stout brand Guinness late last year following soaring demand.
Dolf van den Brink, chief executive and chairman, said: “We continued to invest in future-proofing our business, strengthening our footprint and brand portfolios, funded by productivity savings.
“Our volume performance improved across all regions in the second quarter and continued to be of high quality.”
(PA) Note: This article has been edited with the help of Artificial Intelligence.
