Business

Heineken CEO Highlights Ethiopia's Steady Recovery, Securing #1 Position in North

February 13, 2026 1 month ago

Heineken N.V. CEO Dolf van den Brink has singled out Ethiopia as a standout performer in the company's Africa Middle East region, citing steady business improvement following the country's currency devaluation and the reinforcement of its market leadership with the #1 position now secured in the North.

Speaking during Heineken's full-year 2025 earnings call, van den Brink confirmed that Ethiopia's business improved steadily as the economy stabilized after the foreign exchange reforms. He noted that the company reinforced its market leadership and "now secured the #1 position in the North too supported by continued momentum from Bedele and Harar."

According to the company's regional performance breakdown, Ethiopia delivered net revenue growth of more than 40 percent with beer volume expanding in the low teens, outpacing the broader market .

The mention comes as Ethiopia's macroeconomic reforms, including the shift to a market-determined exchange rate regime in July 2024, continue to show early signs of stabilization in key consumer sectors. Heineken has maintained a significant footprint in Ethiopia through its local subsidiary, Harar Brewery, with Bedele and Harar serving as core brands in its portfolio.

Heineken's Africa Middle East region delivered the strongest performance across the company's global footprint, with net revenue growing 15.7 percent organically to USD 5.1 billion and operating profit surging 62 percent to USD 651 million, despite currency headwinds from the devaluation of the Ethiopian Birr and Nigerian Naira which reduced reported revenue by USD 490 million.

Group-wide, Heineken reported full-year operating profit growth of 4.4 percent with 41 basis points margin expansion, delivering USD 3.1 billion in free operating cash flow and proposing a total dividend of USD 2.25 per share .

The world's second-largest brewer, operating in over 70 countries with more than 85,000 employees, continues to execute its EverGreen 2030 strategy focused on premiumization and productivity gains .