Source and application of funds
Heineken N.V. annual accounts 1988
(in thousands of guilders)
Source
Group profit after taxes
Depreciation and value adjustments
Movements in provisions
Cash flow
41
1988
1987
306,383
415,892
48,924
297,102
386,414
21,344
771,199
704,860
Application
Investments less disposals in tangible fixed assets
571,367
595,975
Investments less disposals in financial fixed assets
10,574
63,013
Increase in interests in consolidated participations
220,038
22,704
Movement in working capital, excluding cash at bank
and in hand, securities and indebtedness to credit institutions
154,140
26,494
956,119
708,186
Dividends paid
94,750
97,996
1,050,869
806,182
Financing
Balance of source and application
Minority interests in the issue by subsidiaries
Long-term borrowings
Investment facilities received
Repayments on long-term debts
Movement in cash at bank and in hand,
securities and indebtedness to credit institutions
The balance of cash at bank and in hand, securities and
indebtedness to credit institutions consists of:
Cash at bank and in hand
Securities
Indebtedness to credit institutions
279,670
71,543
154,656
31,933
21,538
137,286
158,824
454,104
46,766
212,831
101,322
8,333
121,256
20,544
48,811
193,162
- 144,351
611,641
36,841
•201,619
Position on December 31
288,039
446,863
Movements as a result of revaluation and changes in the
extent of the consolidation have been eliminated in the
above statement, with the exception of the working capital.