Heineken 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
Revenue	28,753	29,821	30,362	28,719	21,941
Revenue Growth (YoY)	-3.58%	-1.78%	5.72%	30.89%	11.29%
Cost of Revenue	18,465	19,313	20,077	18,618	13,535
Gross Profit	10,288	10,508	10,285	10,101	8,406
Selling, General & Admin	4,478	4,466	4,353	4,079	3,485
Depreciation & Amortization Expenses	2,609	2,605	3,096	1,886	1,959
Other Operating Expenses	-205	-80	-393	-147	-1,521
Operating Income	3,406	3,517	3,229	4,283	4,483
Interest Income	363	-595	308	297	299
Interest Expense	-620	-680	-640	-458	-462
Other Non-Operating Income (Expense)	-154	-235	-375	48	14
Total Non-Operating Income (Expense)	-411	-1,510	-707	-113	-149
Pretax Income	2,995	2,007	2,522	4,170	4,334
Provision for Income Taxes	857	846	121	1,131	799
Net Income	1,885	978	2,304	2,682	3,324
Minority Interest in Earnings	253	183	97	357	211
Net Income to Common	1,885	978	2,304	2,682	3,324
Net Income Growth	92.74%	-57.55%	-14.09%	-19.31%	-
Shares Outstanding (Basic)	557	560	563	576	576
Shares Outstanding (Diluted)	557	561	564	576	576
Shares Change (YoY)	-0.65%	-0.59%	-2.09%	0.01%	0.06%
EPS (Basic)	3.39	1.75	4.09	4.66	5.77
EPS (Diluted)	3.38	1.74	4.09	4.65	5.77
EPS Growth	94.25%	-57.46%	-12.04%	-19.41%	-
Free Cash Flow	2,879	3,319	1,996	2,705	2,857
Free Cash Flow Growth	-13.26%	66.28%	-26.21%	-5.32%	74.74%
Free Cash Flow Per Share	5.17	5.92	3.54	4.70	4.96
Dividends Per Share	1.900	1.860	1.730	1.730	1.240
Dividend Growth	2.15%	7.51%	-	39.52%	77.14%
Gross Margin	35.78%	35.24%	33.87%	35.17%	38.31%
Operating Margin	11.85%	11.79%	10.64%	14.91%	20.43%
Profit Margin	7.44%	3.89%	7.91%	10.58%	16.11%
FCF Margin	10.01%	11.13%	6.57%	9.42%	13.02%
EBITDA	6,015	6,122	6,325	6,169	6,442
EBITDA Margin	20.92%	20.53%	20.83%	21.48%	29.36%
EBIT	3,406	3,517	3,229	4,283	4,483
EBIT Margin	11.85%	11.79%	10.64%	14.91%	20.43%
Effective Tax Rate	28.61%	42.15%	4.80%	27.12%	18.44%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.