Historical summary / Profile / Heineken Annual Report 2006

Profile / Historical summary

Historical summary

	IFRS 2006	IFRS 2005	IFRS 2004	Dutch GAAP 2004	Dutch GAAP 2003	Dutch GAAP 2002	Dutch GAAP 2001	Dutch GAAP 2000	Dutch GAAP 1999	Dutch GAAP 1998	Dutch GAAP 1997

Revenue and profit
In millions of EUR
Revenue	11,829	10,796	10,062	10,005	9,255	8,482	7,637	6,766	5,973	5,347	5,174
Results from operating activities	1,805	1,254	1,348	1,248	1,222	1,282	1,125	921	799	659	546
Results from operating BEIA	1,559	1,301	1,386	1,329	1,327	1,282	1,125	921	799	659	546
as % of revenue	13.2	12.1	13.8	13.3	14.3	15.1	14.7	13.6	13.4	12.3	10.6
as % of total assets	12.0	11.0	12.9	12.8	12.2	16.4	15.6	14.6	13.3	12.4	10.7
Interest cover ratio	19.7	14.3	12.2	11.2	13.3	16.6	22.5	21.0	30.1	92.7	72.1
Net profit	1,211	761	642	537	798	795	767	621	516	445	345
Net profit BEIA	930	840	803	791	806	795	715	621	516	445	345
as % of equity attributable to equity holders of the Company	18.6	21.2	24.7	23.4	25.4	30.1	25.9	25.9	19.7	19.4	14.9
Dividend	196	196	173	173	157	157	157	125	125	100	80
as % of net profit	16.2	25.8	26.9	32.2	19.7	19.7	20.5	20.1	24.2	22.4	23.1

Bonus shares
In millions of EUR
Increase in share capital	–	–	–	–	–	–	73	–	–	142	–
Cash payment	–	–	–	–	–	–	–	–	–	16	–
Distribution from reserves	–	–	–	–	–	–	73	–	–	158	–
Percentage increase	–	–	25	25	–	–	10	–	–	25	–

Per share of €1.60¹
In millions of EUR
Cash flow from operating activities	3.77	3.82	3.29	3.10	3.34	2.42	2.38	2.11	1.91	1.80	1.54
Net profit BEIA	1.90	1.71	1.64	1.61	1.64	1.62	1.46	1.27	1.05	0.91	0.70
Dividend	0.40	0.40	0.40	0.40	0.32	0.32	0.32	0.26	0.26	0.20	0.16
Equity attributable to equity holders of the Company	10.23	8.10	6.65	6.90	6.46	5.38	5.63	4.89	5.34	4.69	4.73
Bonus shares (par value)	–	–	–	–	–	–	0.23	–	–	0.57	–
Cash payment	–	–	–	–	–	–	–	–	–	0.06	–

Cash flow statement
In millions of EUR
Cash flow from operating activities	1,849	1,872	1,611	1,520	1,638	1,184	1,165	1,035	935	882	753
Dividend	(294)	(271)	(243)	(243)	(241)	(187)	(168)	(160)	(112)	(114)	(94)
Investing	(799)	(1,194)	(1,795)	(1,671)	(2,081)	(1,973)	(783)	(1,503)	(527)	(728)	(439)
Financing	(355)	(321)	(123)	(125)	1.233	427	(39)	335	(13)	80	36
Net cash flow	401	86	(550)	(519)	549	(549)	175	(293)	283	120	255

¹ Adjusted for the 5:4 share split in 2004.

All years prior to 2005 have been restated using the current number of issued shares of 489,974,594.

	IFRS 2006	IFRS 2005	IFRS 2004	Dutch GAAP 2004	Dutch GAAP 2003	Dutch GAAP 2002	Dutch GAAP 2001	Dutch GAAP 2000	Dutch GAAP 1999	Dutch GAAP 1998	Dutch GAAP 1997

Financing
In millions of EUR
Share capital	784	784	784	784	784	784	784	711	711	711	569
Reserves and retained earnings	4,225	3,185	2,472	2,595	2,383	1,853	1,974	1,685	1,907	1,588	1,747
Equity attributable to equity holders of the Company	5,009	3,969	3,256	3,379	3,167	2,637	2,758	2,396	2,618	2,299	2,316
Minority interest	511	545	477	483	732	393	381	124	248	256	182
Total equity	5,520	4,514	3,733	3,862	3,899	3,030	3,139	2,520	2,866	2,555	2,498
Employee benefits	665	664	680	680
Provisions	835	766	725	568	1,367	981	1,024	976	770	733	769
Non-current liabilities	2,091	2,233	2,638	2,642	2,721	1,215	797	875	490	522	412
Current liabilities	3,886	3,652	3,001	2,666	2,910	2,555	2,235	1,892	1,860	1,460	1,384
Liabilities	5,977	5,885	5,639	5,308	5,631	3,770	3,032	2,767	2,350	1,982	1,796
Total equity and liabilities	12,997	11,829	10,777	10,418	10,897	7,781	7,195	6,263	5,986	5,270	5,063

Total equity / (employee benefits, provisions, and liabilities)	0.74	0.62	0.53	0.59	0.56	0.64	0.77	0.67	0.92	0.94	0.97

Employment of capital
In millions of EUR
P, P & E	4,944	5,067	4,773	5,127	4,995	4,094	3,592	3,250	2,964	2,605	2,521
Intangible fixed assets	2,449	2,380	1,837	1,720	1,151	39	13	–	–	–	–
Financial fixed assets	1,367	1,104	1,035	779	1,122	835	531	615	422	490	429
Total non-current assets	8,760	8,551	7,645	7,626	7,268	4,968	4,136	3,865	3,386	3,095	2,950
Inventories	893	883	782	779	834	765	692	550	490	452	466
Trade and other receivables	1,958	1,787	1,646	1,309	1,379	1,270	1,192	1,024	903	775	799
Cash and current other investments	1,386	608	704	704	1,416	778	1,175	824	1,207	948	848
Current assets	4,237	3,278	3,132	2,792	3,629	2,813	3,059	2,398	2,600	2,175	2,113
Total assets	12,997	11,829	10,777	10,418	10,897	7,781	7,195	6,263	5,986	5,270	5,063

Total equity/Total non-current assets	0.63	0.53	0.49	0.51	0.54	0.61	0.76	0.65	0.85	0.83	0.85
Current assets/ Current liabilities	1.09	0.90	1.04	1.05	1.25	1.10	1.37	1.27	1.40	1.49	1.53

	IFRS 2006	IFRS 2005	IFRS 2004	Dutch GAAP 2004	Dutch GAAP 2003	Dutch GAAP 2002	Dutch GAAP 2001	Dutch GAAP 2000	Dutch GAAP 1999	Dutch GAAP 1998	Dutch GAAP 1997
Revenue	10,293						9,333	8,107	7,149	6,272	6,131
Adjustments:
Excise duties	(1,282)						(1,226)	(1,093)	(984)	(819)	(839)
Variable selling expenses	(529)						(300)	(248)	(192)	(106)	(118)
Correction adjustment 2002/1996							(170)
Revenue	11,829	10,796	10,062	10,005	9,255	8,482	7,637	6,766	5,973	5,347	5,174

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