87
Notes to the Consolidated Financial Statements
Note
2023
2022
60
57
Average number of FTE per region
76
115
9.1
8
5
31
57
6.5
28,362
785
676
27,427
4,353
4,079
Introduction
11,842
11,894
11,569
Europe
Americas
2023
2022
A total of 4,715 FTEs are based in the Netherlands (2022: 4,089 FTE).
Sustainability
Review
Financial
Statements
Other
Information
Report
of the
Supervisory
Board
Report
of the
Executive
Board
6.4 Personnel expenses
The average number of full-time equivalent (FTE) employees, excluding contractors, in 2023 was 89,732 (2022:
86,390). FTE, excluding contractors, is divided per region as follows:
The increase in Africa, Middle East Eastern Europe is mainly attributable to the acquisition of Distell Group
Holdings Limited (Distell) and Namibia Breweries Limited (NBL). Refer to note 10.1
HEINEKEN’s employees receive compensations such as salaries and wages, pensions (refer to note 9.1) and
share-based payments (refer to note 6.5). Other personnel expenses include expenses for contractors of
€176 million (2022: €153 million) and net restructuring costs of €94 million (2022: €53 million). Refer to note
9.2 for the restructuring provisions.
Long-term incentive plan (LTIP)
HEINEKEN has a performance-based LTIP for the Executive Board and senior management. Under this LTIP,
share rights are conditionally awarded to participants on an annual basis. The vesting of these rights is subject to
the performance of Heineken N.V. on specific internal performance conditions and continued service over a
three-calendar year period by the employee. The share rights are not dividend-bearing during the performance
period.
During 2022, combined ESG-related performance measures, with equal weighting, were included in the LTIP.
The performance conditions for LTIP 2022-2024 and 2023-2025 are organic net revenue growth, earnings per
share beia growth, free operating cash flow and combined ESG-related measures. The performance conditions
for 2021-2023, are organic net revenue growth, organic operating profit beia growth, earnings per share beia
growth and free operating cash flow. The performance conditions are equally weighted.
At target performance, 100% of the awarded share rights vest. At threshold performance, 50% of the awarded
share rights vest and at maximum performance, 200% of the awarded share rights vest.
6.5 Share-based payments
HEINEKEN has the following share-based compensation plans: long-term incentive plan, extraordinary share
plan and matching share plan (as part of the Short-term incentive plan of the Executive Board).
Accounting policies
Personnel expenses
Personnel expenses are recognised when the related service is provided. For more details on accounting policies
related to post-retirements obligations and share-based payments refer to notes 9.1 and 6.5 respectively.
2,950
443
2,757
412
Heineken
N.V.
Annual
Report
2023
o
ai
E
Z)
Z
In millions of
Wages and salaries
Compulsory social security contributions
Contributions to defined contribution plans
Expenses related to defined benefit plans
Expenses related to other long-term employee benefits
Equity-settled share-based payment plan
Other personnel expenses
35,142 35,552
28,362 27,427
14,334 11,842 11,894 11,569
Africa, Middle East Asia Pacific
Eastern Europe
