Heineken Holding N.V. reports 2019 full year results

Amsterdam, 12 February 2020 – Heineken Holding N.V. (EURONEXT: HEIO; OTCQX: HKHHY) announces:

• The net result of Heineken Holding N.V.'s participating interest in Heineken N.V. for 2019 amounts to €1,087 million
• Net revenue (beia) organic growth +5.6%; net revenue (beia) per hectolitre +3.3%
• Consolidated beer volume +3.1%
• Heineken volume +8.3%, best performance in over a decade
• Operating profit (beia) organic growth +3.9%
• Operating profit (beia) margin 16.8% (-12 bps)
• Net profit (beia) €2,517 million, +4.3% organically
• Proposed 2019 total dividend +8.8% at €1.68 per share

FINANCIAL SUMMARY¹

IFRS Measures			BEIA Measures
	€ million	Total growth		€ million	Organic growth2
Revenue	28,521	6.4%	Revenue (beia)	28,443	5.2%
Net revenue	23,969	6.6%	Net revenue (beia)	23,894	5.6%
Operating profit	3,633	16.4%	Operating profit (beia)	4,020	3.9%
			Operating profit (beia) margin	16.8%
Net profit of	1,087	12.5%	Net profit (beia)	2,517	4.3%
Heineken Holding N.V.
Diluted EPS (in €)	3.77	12.5%	Diluted EPS (beia) (in €)	4.38	4.9%
			Free operating cash flow	2,228
			Net debt / EBITDA (beia)3	2.6x

¹ Consolidated figures are used throughout this report, unless otherwise stated; please refer to the Glossary for an explanation of non-GAAP measures and other terms used throughout this report. Last year figures restated for IAS 37. Please refer to page 14 for more details.