Consolidated Cash Flow Statement
in millions of guilders
Cash flow from operating activities
Operating profit
Earnings of non-consolidated
participations
Depreciation and value adjustments
Changes in provisions
Working capital changes
Cash flow from operations
Interest paid and received
Taxation paid on profit
Cash flow from operating activities
Dividends paid
Cash dividend on recapitalization
Cash flow from operating activities
less dividends paid
Cash flow from investing activities
Tangible fixed assets
Consolidated participations
Non-consolidated participations
Other financial fixed assets
Cash flow from financing activities
Long-term borrowings
Repayment of long-term debts
Investment facilities
Net cash flow
Other movements in funds:
Changes in the consolidation
Changes in exchange rates
Movement in balance of funds
The balance of funds consists of:
Cash at bank and in hand
Securities
Indebtedness to credit institutions
Position on December 31
1999
1,761.6
111.7
942.3
-58.8
-101.6
-247.5
2,655.2
-92.5
-500.9
2,061.8
247.5
1,814.3
1998
1,452.6
96.6
821.7
-47.8
105.4
-217.5
-34.8
2.428.5
-24.9
-460.0
1.943.6
-252.3
1,691.3
-971.0
-121.9
-73.8
4.7
-1,162.0
-823.3
-307.4
-452.8
-19.8
-1,603.3
182.0
-213.5
2.6
-28.9
623.4
-162.4
23.6
484.6
2,567.3
93.4
-476.9
2,183.8
294.9
-120.1
0.8
175.6
263.6
8.9
-60.5
212.0
1,982.1
106.9
- 389.7
1,699.3
HEINEKEN N. V.
ANNUAL REPORT
19 9 9
73
