Heineken’s net revenue organically grew by 5% in 2024 to €29.9bn, with 1.6% growth in beer volumes and a higher growth contribution from price. All regions were up on the previous year, with premium and non-alcoholic products particularly strong.
Underlying operating profit increased 8.3% to €4.5bn, ahead of expectations.
Free cash flow was up by €1.2bn, to €3.1bn, benefitting from the favourable timing of cash collections and payments. Net debt fell from €15.8bn to €14.7bn.
A final dividend of €1.17 per share has been proposed taking the annual total to €1.86, up 7.5% on last year. Heineken has also launched a €1.5bn share buyback to be completed over a two-year period.
In 2025 underlying operating profit is expected to grow by 4-8% (6% expected).
The shares were up 8.1% after the announcement.
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Heineken key facts
All ratios are sourced from London Stock Exchange Group, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
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