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Glossary
Acquisition-related intangible assets
Beia
Cash conversion ratio
Cash flow (used in)/from operational investing activities
Centrally available financing headroom
Consolidation changes
Depletions
Dividend payout
Earnings per share (EPS)
EBITDA
Effective tax rate
Eia
Exceptional items
Free operating cash flow
Group net revenue (beia)
Group operating profit (beia)
Net debt
Net profit/(loss)
Net revenue
Heineken N.V.
Annual Report 2020
Introduction
Report of the
Executive Board
Report of the
Supervisory Board
Financial
Statements
Sustainability
Review
Other
Information
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.
This consists of the undrawn part of revolving credit facility and cash minus commercial paper and other
short-term borrowings.
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/(loss) divided by the weighted average number of shares - basic - during the year.
Diluted
Net profit/(loss) 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.
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/(loss) after deduction of non-controlling interests (profit/(loss) 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.
