Heineken Holding Income Statement

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Revenue	28,753	29,821	30,362	28,719	21,941
Other Revenue	205	-	-	-	-
Revenue	28,958	29,821	30,362	28,719	21,941
Revenue Growth (YoY)	-2.89%	-1.78%	5.72%	30.89%	11.29%
Cost of Revenue	18,465	18,969	19,659	18,322	13,326
Gross Profit	10,493	10,852	10,703	10,397	8,615
Selling, General & Admin	4,478	4,527	4,392	4,139	3,586
Other Operating Expenses	-	136	156	124	-78
Operating Expenses	7,087	6,960	6,839	6,356	5,359
Operating Income	3,406	3,892	3,864	4,041	3,256
Interest Expense	-620	-680	-640	-458	-462
Interest & Investment Income	108	128	97	81	55
Earnings From Equity Investments	255	-705	218	223	250
Currency Exchange Gain (Loss)	-	-217	-323	-121	-78
Other Non Operating Income (Expenses)	-154	-92	-117	82	100
EBT Excluding Unusual Items	2,995	2,326	3,099	3,848	3,121
Merger & Restructuring Charges	-	-96	-130	-70	-4
Impairment of Goodwill	-	-	-559	-	-
Gain (Loss) on Sale of Investments	-	-	23	76	1,270
Gain (Loss) on Sale of Assets	-	37	329	71	55
Asset Writedown	-	-305	-214	220	-108
Other Unusual Items	-	45	-26	25	-
Pretax Income	2,995	2,007	2,522	4,170	4,334
Income Tax Expense	857	846	121	1,131	799
Earnings From Continuing Operations	2,138	1,161	2,401	3,039	3,535
Minority Interest in Earnings	-1,186	-663	-1,227	-1,696	-1,872
Net Income	952	498	1,174	1,343	1,663
Net Income to Common	952	498	1,174	1,343	1,663
Net Income Growth	91.16%	-57.58%	-12.58%	-19.24%	-
Shares Outstanding (Basic)	281	283	284	288	288
Shares Outstanding (Diluted)	281	283	284	288	288
Shares Change (YoY)	-0.62%	-0.39%	-1.41%	-	-
EPS (Basic)	3.39	1.76	4.13	4.66	5.77
EPS (Diluted)	3.39	1.76	4.12	4.66	5.77
EPS Growth	92.42%	-57.28%	-11.59%	-19.24%	-
Free Cash Flow	2,879	3,319	1,996	2,705	2,857
Free Cash Flow Per Share	10.24	11.73	7.03	9.39	9.92
Dividend Per Share	-	1.860	1.730	1.730	1.240
Dividend Growth	-	7.51%	-	39.52%	77.14%
Gross Margin	36.23%	36.39%	35.25%	36.20%	39.26%
Operating Margin	11.76%	13.05%	12.73%	14.07%	14.84%
Profit Margin	3.29%	1.67%	3.87%	4.68%	7.58%
Free Cash Flow Margin	9.94%	11.13%	6.57%	9.42%	13.02%
EBITDA	6,015	5,746	5,549	5,682	4,736
EBITDA Margin	20.77%	19.27%	18.28%	19.79%	21.58%
D&A For EBITDA	2,609	1,854	1,685	1,641	1,480
EBIT	3,406	3,892	3,864	4,041	3,256
EBIT Margin	11.76%	13.05%	12.73%	14.07%	14.84%
Effective Tax Rate	28.61%	42.15%	4.80%	27.12%	18.44%

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.