Historical Summary
O O Qs
Introduction Report of the Executive Board Report of the Supervisory Board
2019
2018'
2017
2016
2015
Revenue and profit
In millions of
Revenue2
28,521
26,811
25,843
20,792
20,511
Net revenue3
23,969
22,489
21,609
N/A
N/A
Net revenue (beia)
23,894
22,471
21,629
N/A
N/A
Operating profit
3,633
3,121
3,352
2,755
3,075
Operating profit (beia)
4,020
3,808
3,759
3,540
3,381
as of net revenue3
16.8
16.9
17.4
17.0
16.5
as of total assets
8.6
9.0
9.2
9.0
00
Net profit
2,166
1,913
1,935
1,540
1,892
Net profit (beia)
2,517
2,385
2,247
2,098
2,048
as of shareholders' equity
15.6
16.4
16.9
15.8
15.1
Dividend (proposed)
967
912
838
763
741
as of net profit (beia)
38.4
38.2
37.3
36.4
36.2
Per share
In
Cash flow from operating activities
7.56
7.70
6.81
6.53
6.10
Net profit (beia) - basic
4.39
4.18
3.94
3.68
3.58
Net profit (beia) - diluted
4.38
4.18
3.94
3.68
3.57
Dividend (proposed)
1.68
1.60
1.47
1.34
1.30
Shareholders' equity
28.15
25.48
23.37
23.24
23.65
Heineken N.V. Annual Report 2019
Financial Statements
Sustainability Review
Other Information
2019
20181
2017
2016
2015
Cash flow statement
In millions of
Cash flow from operations
5,556
5,540
4,924
4,720
4,486
Cash flow related to interest,
dividend and income tax
(1,219)
(1,152)
(1,042)
(1,002)
(997)
Cash flow from operating activities
4,337
4,388
3,882
3,718
3,489
Cash flow (used in)/from operational
investing activities
(2,109)
(2,142)
(1,851)
(1,945)
(1,797)
Free operating cash flow
2,228
2,246
2,031
1,773
1,692
Cash flow (used in)/from
acquisitions and disposals
(2,764)
(213)
(1,114)
(62)
(267)
Dividends paid
(1,223)
(1,090)
(1,011)
(1,031)
(909)
Cash flow (used in)/from financing
activities, excluding dividend
207
123
45
359
(264)
Net cash flow
(1,552)
1,066
(49)
1,039
252
Cash conversion ratio
80.2%
85.4%
81.1%
75.0%
73.3%
Financing ratios
Net debt/EBITDA (beia)
2.6
2.3
2.5
2.3
2.4
1 Restated for IAS 37.
2 2017 revenue has been restated due to changes in accounting policy on revenue (IFRS 15).
3 'Net revenue' was introduced in 2017 due to changes in accounting policy on revenue (IFRS 15).
4 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.
