EBIT for the full year period was EUR1.76bn compared to EUR1.08bn for the same period last year.
Net profit for the full year period was EUR1.02bn compared to EUR209m for the last year period. Diluted earnings per share for the quarter were EUR2.08, an increase of 387 per cent compared to EUR0.43 for the last year.
The company has witnesses 18 per cent organic net profit growth, driven by higher revenue per hectolitre, and cost reductions, offsetting 5.4 per cent organically lower consolidated beer volume due to the global economic downturn.
According to the company, the international spread of its assets has continued to be a competitive strength in the recession with all regions contributing to a strong 14 per cent rise in organic EBIT growth.
Jean-François van Boxmeer, chairman and CEO of Heineken, said: "We have taken significant steps to transform and strengthen the future of our business. The intended acquisition of FEMSA Cerveza and our new partnership with United Breweries in India have increased our exposure to fast growing, developing markets. These agreements together with our new, fully operational brewery in South Africa will materially enhance the growth profile of Heineken.
"Looking ahead, we will continue to invest in the growth of our brands, particularly Heineken. We will leverage our leadership in Europe and increase our marketing investments in order to grow value share. We will continue to deliver significant savings via our TCM programme, drive strong cash flow generation and ensure that our new markets will deliver further improvement in profit. We will work fast to complete the acquisition and integration of FEMSA Cerveza in order to unlock the synergies and potential of the combined business."
For 2010, Heineken reiterates its target of reducing its net debt/EBITDA (beia) ratio to below 2.5 times and expects an average interest rate of approximately 6 per cent and an effective tax rate in the range of 25-27 per cent. It also anticipates a further organic decline in the number of employees. Heineken is preparing for the integration of FEMSA Cerveza, which will begin once the acquisition has been completed in the second quarter of 2010.
