167
Historical Summary
Report of the
Report of the
Financial
Sustainability
Other
Introduction
Executive Board
Supervisory Board
Statements
Review
Information
Heineken N.V. Annual Report 2017
2017
2016
2015
2014
2013
Revenue and profit
In millions of
Revenue
21,888
20,792
20,511
19,257
19,203
Operating profit
3,352
2,755
3,075
2,780
2,554
Operating profit (beia)
3,759
3,540
3,381
3,129
2,941
as of revenue
17.2
17.0
16.5
16.2
15.3
as of total assets
9.2
9.0
00
!r>
9.0
00
CO
Net profit
1,935
1,540
1,892
1,516
1,364
Net profit (beia)
2,247
2,098
2,048
1,758
1,585
as of equity attributable to equity holders of the Company
16.9
15.8
15.1
14.2
13.9
Dividend (proposed)
838
763
741
632
512
as of net profit (beia)
37.3
36.4
36.2
35.9
32.3
Per share
In
Cash flow from operating activities
6.81
6.53
6.10
5.32
5.07
Net profit (beia) basic
3.94
3.68
3.58
3.06
2.76
Net profit (beia) diluted
3.94
3.68
3.57
3.05
2.75
Dividend (proposed)
1.47
1.34
1.30
1.10
0.89
Equity attributable to equity holders of the Company
23.37
23.24
23.65
21.58
19.83
Cash flow statement
In millions of
Cash flow from operations
4,924
4,720
4,486
4,140
3,983
Cash flow related to interest, dividend and income tax
(1,042)
(1,002)
(997)
(1,082)
(1,069)
Cash flow from operating activities
3,882
3,718
3,489
3,058
2,914
Cash flow (used in)/from operational investing activities
(1,851)
(1,945)
(1,797)
(1,484)
(1,396)
Free operating cash flow
2,031
1,773
1,692
1,574
1,518
Cash flow (used in)/from acquisitions and disposals
(1,114)
(62)
(267)
(189)
555
Dividends paid
(1,011)
(1,031)
(909)
(723)
(710)
Cash flow (used in)/from financing activities,
excluding dividend
45
359
(264)
(1,730)
(1,042)
Net cash flow
(49)
1,039
252
(1,068)
321
Cash conversion rate
81.1%
75.0%
73.3%
78.9%
84.0%
Financing ratios
Netdebt/EBITDA (beia)
2.5
2.3
2.4
2.51
2.6
1 Revised for the change in definition of net debt in 2015.
2 Comparative figure for 2015 has been revised to reflect the change in accounting policy on netting cash and overdraft balances in cash pooling arrangements with legally enforceable
rights to offset.