Glossary
Acquisition-related intangible assets
Beia
Cash conversion ratio
Cash flow (used in)/from operational investing activities
Consolidation changes
Depletions
Dividend payout
Earnings per share (EPS)
EBITDA
^73j
Effective tax rate
Eia
Exceptional items
Free operating cash flow
Group net revenue (beia)
Group operating profit (beia)
Net debt
Net profit
Net revenue
Net revenue per hectolitre
O O Qs
Introduction Report of the Executive Board Report of the Supervisory Board
Acquisition-related intangible assets are assets that HEINEKEN only recognises as part of a purchase
price allocation following an acquisition. This includes, among others, brands, customer-related and
certain contract-based intangibles.
Before exceptional items and amortisation of acquisition-related intangible assets.
Free operating cash flow/net profit (beia) before deduction of non-controlling interests.
This represents the total of cash flow from sale and purchase of Property, plant and equipment
and Intangible assets, proceeds and receipts of Loans to customers and Other investments.
Changes as a result of acquisitions and disposals.
Sales by distributors to the retail trade.
Proposed dividend as percentage of net profit (beia).
Basic
Net profit divided by the weighted average number of shares - basic - during the year.
Diluted
Net profit divided by the weighted average number of shares - diluted - during the year.
Earnings before interest, taxes, net finance expenses, depreciation and amortisation. EBITDA includes
HEINEKEN's share in net profit of joint ventures and associates.
Heineken N.V. Annual Report 2019
Financial Statements
Sustainability Review
Other Information
Income tax expense expressed as a percentage of the profit before income tax, adjusted for share
of profit of associates and joint ventures.
Exceptional items and amortisation of acquisition-related intangible assets.
Items of income and expense of such size, nature or incidence, that in the view of management their
disclosure is relevant to explain the performance of HEINEKEN for the period.
This represents the total of cash flow from operating activities and cash flow from operational
investing activities.
Consolidated net revenue (beia) plus attributable share of net revenue (beia) from joint ventures
and associates.
Consolidated operating profit (beia) plus attributable share of operating profit (beia) from joint ventures and
associates, excluding Head Office and eliminations.
Non-current and current interest bearing borrowings (incl. lease liabilities), bank overdrafts and market value
of cross-currency interest rate swaps less cash and cash equivalents.
Profit after deduction of non-controlling interests (profit attributable to shareholders' of the Company).
Revenue as defined in IFRS 15 (after discounts) minus the excise tax expense for those countries where
the excise is borne by HEINEKEN.
Net revenue divided by total consolidated volume.
