Consolidated Cash Flow Statement
2002 2001
in millions of euros
Cash flow from operating activities
Operating profit 1,282 1,125
Results of non-consolidated participating interests 48 45
Amortisation/depreciation and value adjustments 529 476
Movements in provisions - 8 - 32
Movements in working capital -223 -42
Cash flow from operations 1,628 1,572
Interest paid and received -103 - 74
Taxation paid on profits - 341 - 333
Cash flow from operating activities 1,184 1,165
Dividends paid -187 -168
Cash flow from operating activities
less dividends paid 997 997
Cash flow from investing activities
Intangible fixed assets -35 -17
Tangible fixed assets -696 -578
Consolidated participating interests - 799 - 148
Non-consolidated participating interests -423 -74
Extraordinary result on participating interests
disposed of - 52
Other financial fixed assets - 20 - 18
-1,973 -783
Cash flow from financing activities
Long-term borrowings 484 86
Repayment of long-term borrowings - 56 - 182
Share issue by group companies -1 57
427 -39
Net cash flow -549 175
Other cash movements
Changes in the consolidation -88 99
Exchange differences -36 -14
Movement in net cash -673 260
The net cash position is made up of
Cash 680 1,146
Securities 98 29
Bank overdrafts - 573 - 297
Position as at 31 December 205 878
HEINEKEN N.V. ANNUAL REPORT 2002
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