I
On the path to long-term
value creation
41
Financial Review
“In 2023 we advanced our multi-year EverGreen transformation, navigating
challenging macroeconomic conditions across our markets, including significant
pricing to offset very high levels of inflation. We surpassed our productivity
commitments and delivered operating profit growth in three out of four regions.
Simultaneously we stepped up investments in our brands,capabilities, digital
programmes and behind our sustainability ambitions. We remain committed to
investing behind EverGreen in the pursuit of long-term sustainable value creation.”
Introduction
Key figures1
2022
2023
Eia
Beia
Eia
Beia
0.1%
5.5%
139
69
207
41
6
576
244
762
219
23
31.8%
5
51
68
223
52
8
26
148
13.2%
146
40.2%
(123)
(4.3)%
(2)
52
(33)
8
(65)
12
(54)
1
(1,168)
305
(864)
76
Sustainability
Review
Other
Information
Financial
Statements
Report
of the
Supervisory
Board
Report
of the
Executive
Board
1 This table will not always cast due to rounding.
2 EBITDA is derived from 'Operating profit' less 'Amortisation, depreciation and impairments' plus 'Share of profit of associates and joint ventures'.
(111)
40
(25)
(43)
74
(1)
6
Currency
translation
(102)
(6)
57
Harold van den Broek
Member of the Executive Board and Chief Financial Officer
Heineken
N.V.
Annual
Report
2023
Marketing and selling expenses
Personnel expenses
Amortisation, depreciation and impairments
Other net (expenses)/income
Total net other (expenses)/income
Operating profit
Interest income
Excise tax expense
Net revenue
(458)
(384)
48
(452)
(380)
(63)
263
(640)
(550)
(375)
218
(644)
(554)
(343)
270
(55)
(55)
(12)
3
(193)
(170)
(336)
11
(42.7) %
(44.8) %
(537.3)%
4.3%
(in million unless otherwise stated)
Revenue
(1,131)
(357)
2,682
6,392
34,643
(5,949)
28,694
(2,735)
(4,005)
(1,679)
(15,773)
(24,192)
4,502
73
(1,124)
(363)
2,836
6,444
(121)
(97)
2,304
6,543
1,268
(141)
1,268
1,214
0
(831)
(136)
329
(4)
(4)
34
36,310
(6,001)
30,308
(2,766)
(4,214)
(1,828)
(17,058)
(25,865)
4,443
90
(952)
(233)
2,632
6,541
(52)
(150)
(64)
(656)
(922)
(35)
0
(14)
(87)
1,591
(54)
(128)
(126)
(1,204)
(1,513)
78
(2.0)%
(3.2) %
(7.5) %
(7.6) %
(6.3) %
1.7%
(6)
155
(7)
(2)
(2)
6
Interest expense
Net interest income/(expenses)
Other net finance income/(expenses)
Share of profit of associates and joint ventures
Income tax expense
Non-controlling interests
Net profit
EBITDA2
Reported
34,676
(5,957)
28,719
(2,692)
(4,079)
(1,886)
(15,779)
(24,436)
4,283
74
Reported
36,375
(6,013)
30,362
(2,767)
(4,353)
(3,096)
(16,917)
(27,133)
3,229
90
Consolidation
impact
1,253
(366)
887
Organic
growth
1,582
9
Organic
growth
4.6%
