Heineken’s Vietnam Net Revenue Rose 30% to 39% in Third Quarter
Heineken reported that its beer volume in Vietnam rose 20% to 29% year on year in the third quarter of 2026, while net revenue increased 30% to 39%. The company said it had not reached its production capacity limit, though its Vietnam team continued to coordinate operations to meet rapidly growing demand.
Heineken disclosed on October 28 that its beer volume in Vietnam rose 20% to 29% year on year in the third quarter of 2026, while net revenue increased 30% to 39%. Chief Financial Officer Harold van den Broek said at an analysts’ meeting that day that Vietnam’s beer market grew at a single digit rate over the same period, with demand improving at both restaurants and other on premises venues and in retail channels.
Heineken said its beer volume in Vietnam grew at the low end of the 20% to 29% range in the first half of 2026, while revenue grew at the high end of that range. Premium products continued to drive growth in the third quarter. Group management said consumers’ greater preference for higher priced products was one important reason revenue grew faster than volume.
In June 2024, Heineken announced a suspension of operations at its Quang Nam brewery because of declining consumer demand. Facing current demand growth, Harold van den Broek said the group had not reached its production capacity limit and had previously prepared plans to increase capacity, but its Vietnam team still needed to coordinate operations continuously to ensure supply. In April 2026, Heineken introduced an expansion project at its Da Nang brewery, with a designed capacity of 500 million liters a year.
Heineken said operating profit in Asia Pacific grew organically by 17.7% in the first half of 2026, with positive contributions from Vietnam, Myanmar and Indonesia; the group did not disclose a separate third quarter profit figure for its Vietnam operations. Vietnam’s beer excise tax rate is set to rise from 65% to 70% on January 1, 2027, and to reach 90% by 2031 under the planned schedule. Harold van den Broek cautioned investors against assuming that Vietnam’s beer volume growth of more than 20% would continue in the fourth quarter.
Source: VietVance
