Trading profit Financing and liquidity The increase in selling prices was not enough to offset the rise in costs of raw materials, etc. and the increase in fixed costs. For 1980 the Trading profit was N.fl. 197 million, 20.1% lower than in 1979. Expressed as a percentage of turnover it was 6.1%, compared with 8.6% in the previous year. Net profit The interest expenses was N.fl. 63 million in 1980, as against N.fl. 40 million in the previous calendar year. The increase was to a considerable extent due to the raising of more interest-bearing outside funds, both short-term and long-term, in order to meet the further increase in the financing requirement. Taxation on profit was about N.fl. 34 million lower, due in substantial measure to the fall in profit before tax. The dividends received from non-consolidated partici pations were over N.fl. 7 million in 1980, N.fl. 3 million more than in the previous year. Net profit fell by 33.9% to N.fl. 83 million in 1980. This is 5.9% of Shareholders' equity as at December 31,1980, compared with 9.9% for 1979. Per share of N.fl. 25.this corresponds to a profit of N.fl. 5.75 for 1980 compared with N.fl. 8.70 for the pre vious calendar year. Appropriation of profit According to the Profit and Loss Account published on page 46, the net profit amounts to N.fl. 83,139,000 It is proposed that there be made available for payment of dividend N.fl. 50,575,000 (corresponding to N.fl. 3.50 per share of N.fl. 25.of which N.fl. 1.50 has already been paid as interim dividend) and that the remainder amounting to N.fl. 32,564,000 be added to the General reserve. The appropriation of profit shown above has already been incorporated in the Consolidated Balance Sheet and in the Balance Sheet of Heineken NV. Shareholders' equity increased during the year under review by N.fl. 128 million to N.fl. 1,404 million as a re sult of: profit to be retained in accordance with proposal 33 addition to Special reserve (mainly revaluation) 115 cash dividend equal to Netherlands income tax payable on bonus distribution - 18 goodwill paid (net) - 2 128 At the end of the financial year the capital structure was as follows (in millions of guilders): this previous year year amount amount Shareholders' equity 1,404 45 1,276 47 Minority interests 34 1 24 1 Group funds 1,438 46 1,300 48 Investment facilities equalization account 91 3 49 2 Provision for deferred tax liabilities 427 13 307 11 518 16 356 13 Long-term debts 331 11 227 8 Current liabilities 863 27 853 31 1,194 38 1,080 39 Total capital 3,150 100 2,736 100 This capital was employed as follows: Fixed assets 2,286 73 1,965 72 Current assets 864 27 771 28 3,150 100 2,736 100 If this proposal is approved by the General Meeting of Shareholders to be held on April 28, 1981, the final dividend for the financial year 1980, amounting to N.fl. 2.will be made payable on dividend coupon No. 19 on May 12, 1981. 17

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 1980 | | pagina 19