2002 2001 Financial Review Financing structure in millions of euros Group equity Deferred taxation Other provisions Liabilities 2,936 38 381 5 600 8 3,864 49 7,781 100 3,139 44 357 5 667 9 3,032 42 7,195 100 interests in Kazakhstan, the Slovak Republic and Spain were also increased, and minority participating interests were acquired in Costa Rica and Nicaragua. Investments in intangible fixed assets and other financial fixed assets amounted to €35 million and €20 million, respectively. Financing and liquidity Group equity decreased from €3,139 million as at 31 December 2001 to €2,936 million as at 31 December 2002. Shareholders' equity fell by €215 million to €2,543 million. Set against the addition of the net profit of €795 million and revaluations of €32 million were goodwill charges of €778 million, adverse exchange differences of €107 million and a proposed dividend distribution of €157 million. Owing to the increase in the interest-bearing liabilities and the reduction in cash, largely as a result of financing acqui sitions, the net debt position increased from €152 million to €1,391 million as at 31 December 2002. Profit appropriation Net profit for Heineken N.V. in 2002 amounted to €795 million. In accordance with Article 12 of the Articles of Association, the Annual General Meeting of Shareholders will be invited to appropriate an amount of €157 million for distribution as dividend. This proposed appropriation corresponds to a dividend of €0.40 per share of €2.00 nominal value, out of which an interim dividend of €0.16 was paid on 23 September 2002. The final dividend thus amounts to €0.24 per share. Dutch withholding tax at 25% will be deducted from the final dividend. It is proposed to add the remaining amount of €638 million to the general reserve. Amsterdam, 25 February 2003 Ruys Van Boxmeer Bolland Flooft Graafland REPORT OF THE EXECUTIVE BOARD 43

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2002 | | pagina 46