0
06
Key figures1
Consolidated results
Balance sheet
Per share
Employees
Ratios
Heineken N.V.
Annual Report 2020
Introduction
Report of the
Executive Board
Report of the
Supervisory Board
Financial
Statements
Sustainability
Review
Other
Information
In millions of
2020
2019
Change in
Revenue
23,770
28,521
(16.7)%
Revenue (beia)
23,770
28,443
(16.4)%
Net revenue
19,715
23,969
(17.7)%
Net revenue (beia)
19,724
23,894
(17.5)%
Operating profit
778
3,633
(78.6)%
Operating profit (beia)
2,421
4,020
(39.8)%
Net profit/(loss)
(204)
2,166
(109.4)%
Net profit (beia)
1,154
2,517
(54.2)%
EBITDA
3,583
5,756
(37.8)%
EBITDA (beia)
4,151
5,764
(28.0)%
Dividend (proposed)
403
967
(58.3)%
Free operating cash flow
1,513
2,228
(32.1)%
In millions of
2020
2019
Change in
Total assets
42,632
46,504
(8.3)%
Shareholders' equity
13,392
16,147
(17.1)%
Net debt position
14,210
15,259
(6.9)%
Market capitalisation
52,509
54,505
(3.7)%
2020
2019
Change in
Weighted average number of shares - basic
575,625,598
573,643,551
0.3%
Net profit/(loss)
(0.36)
3.78
(109.5)%
Net profit (beia)
2.00
4.39
(54.4)%
Dividend (proposed)
0.70
1.68
(58.3)%
Free operating cash flow
2.63
3.88
(32.2)%
Shareholders' equity
23.27
28.15
(17.3)%
Share price
91.22
94.92
(3.9)%
Weighted average number of shares - diluted
575,625,598
574,217,111
0.2%
Net profit (beia) - diluted2
2.00
4.38
(54.3)%
2020
2019
Change in
Average number of employees (FTE)
84,394
85,853
(1.7)%
2020
2019
Change in
Operating profit (beia) as a of net
revenue (beia)
12.3%
16.8%
-455 bps
Net profit/(loss) as of average equity attributable
to equity holders of the Company
(1.4)%
14.1%
(15.5)
Net debt/EBITDA (beia)
3.4
2.6
0.8
Dividend payout
34.9%
38.4%
(3.5)
Cash conversion ratio
111.3%
80.2%
31.1
1 (beia) is before exceptional items and amortisation of acquisition-related intangible assets. Please refer to the Glossary section for an explanation of non-
GAAP measures and other terms used throughout this report.
2 For beia purposes, net profit (beia) - diluted is calculated including shares to be delivered under the employee incentive programme (196,007 shares).
For the purposes of this calculation, the weighted average diluted number of shares outstanding as at 31 December 2020 is 575,821,605 (2019: 574,217,111).
