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174
Historical Summary
Heineken N.V.
Annual Report 2020
Introduction
Report of the
Executive Board
Report of the
Supervisory Board
Financial
Statements
Sustainability
Review
Other
Information
2020
2019
20181
2017
2016
Revenue and profit
In millions of
Revenue2
23,770
28,521
25,811
25,843
20,792
Net revenue3
19,715
23,969
22,489
21,609
N/A
Net revenue (beia)
19,724
23,894
22,471
21,629
N/A
Operating profit
778
3,633
3,121
3,352
2,755
Operating profit (beia)
2,421
4,020
3,808
3,759
3,540
as of net revenue3
12.3
16.8
16.9
17.4
17.0
as of total assets
5.7
8.6
9.0
9.2
9.0
Net profit/(loss)
(204)
2,166
1,913
1,935
1,540
Net profit (beia)
1,154
2,517
2,385
2,247
2,098
as of shareholders' equity
8.6
15.6
16.4
16.9
15.8
Dividend (proposed)
403
967
912
838
763
as of net profit (beia)
34.9
38.4
38.2
37.3
36.4
Per share
In
Cash flow from operating activities
5.45
7.56
7.70
6.81
6.53
Net profit (beia) - basic
2.00
4.39
4.18
3.94
3.68
Net profit (beia) - diluted
2.00
4.38
4.18
3.94
3.68
Dividend (proposed)
0.70
1.68
1.60
1.47
1.34
Shareholders' equity
23.27
28.15
25.48
23.37
23.24
2020
2019
20181
2017
2016
Cash flow statement
In millions of
Cash flow from operations
4,232
5,556
5,540
4,924
4,720
Cash flow related to interest,
(1,096)
(1,219)
(1,152)
(1,042)
(1,002)
dividend and income tax
Cash flow from operating activities
3,136
4,337
4,388
3,882
3,718
Cash flow (used in)/from operational
(1,623)
(2,109)
(2,142)
(1,851)
(1,945)
investing activities
Free operating cash flow
1,513
2,228
2,246
2,031
1,773
Cash flow (used in)/from
185
(2,764)
(213)
(1,114)
(62)
acquisitions and disposals
Dividends paid
(811)
(1,223)
(1,090)
(1,011)
(1,031)
Cash flow (used in)/from financing
2,049
207
123
45
359
activities, excluding dividend
Net cash flow
2,936
(1,552)
1,066
(49)
1,039
Cash conversion ratio
111.3%
80.2%
85.4%
81.1%
75.0%
Financing ratios
Net debt/EBITDA (beia)
3.4
2.6
2.3
2.5
2.3
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).