Financial review 2000 1999 General The preparations for the introduction of the euro are proceeding according to plan in all parts of the organization. In order to give a better view of the Group's activities, it has been decided to provide information by segment as of the beginning of the 2000 financial year. Because only one group of products, namely beer, accounts for more than 80% of the Group's net turnover, financial information has been segmented by geographical area alone. As nearly all production facilities for exports are located in Europe, the results of these operations are accounted for under Europe. Net turnover in billions of euros Beer 6.5 Spirits and wines 0.4 Soft drinks 0.9 Other income 0.3 Net turnover and operating expenditure Net turnover amounted to EUR 8,107 million in 2000, representing an increase of EUR 959 million, over 13%, compared to 1999. 7% of this growth was the result of the first time consolidation of a number of companies. Higher selling prices and an improved sales mix resulted in an increase of 3%, while increased sales volumes accounted for a rise of 2%. The remaining increase (1%) in net turnover was due to a more favourable exchange rate of the US dollar against the euro. The most important change in the consolidation related to Grupo Cruzcampo in Spain, which was fully consolidated as of 1 February 2000. Cruzcampo has merged with El Aguila to form the new Heineken Espana company, in which we hold a 80.9 interest. In addition, Gemer and Martiner in Slovakia, Affligem in Belgium (proportionally), as well as a number of beverage wholesalers in Poland, Italy, France and Switzerland have been consolidated. Turnover and costs Change in millions of euros Net turnover 8,107 7,148 13 Raw materials, other materials and services 4,324 3,805 14 Excise duties 1,093 984 11 Personnel costs 1,301 1,132 15 Depreciation and value adjustments 468 428 9 Total operating expenditure 7,186 6,349 13 Operating profit 921 799 15 HEINEKEN N V. ANNUAL REPORT 2000 43

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2000 | | pagina 53