Auditor's Report
116 Heineken N.V. Annual Report 2004 Other Information
Introduction
We have audited the 2004 financial statements of Heineken N.V., Amsterdam, as included on pages 80-113 of
this report. These financial statements are the responsibility of the company's management. Our responsibility
is to express an opinion on these financial statements based on our audit.
Scope
We conducted our audit in accordance with auditing standards generally accepted in the Netherlands.
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing
the accounting principles used and significant estimates made by management, as well as evaluating the over
all financial statements presentation. We believe that our audit provides a reasonable basis for our opinion.
Opinion
In our opinion, the financial statements give a true and fair view of the financial position of the company
as at 31 December 2004 and of the result for the year then ended in accordance with accounting principles
generally accepted in the Netherlands and comply with the financial reporting requirements included in
Part 9, Book 2, of the Netherlands Civil Code.
Amsterdam, 21 February 2005
KPMG Accountants N.V.
Appropriation of Profit
Article 12, paragraph 4, of the Articles of Association stipulates:
'Of the profits, payment shall first be made, if possible, of a dividend of six per cent of the issued part
of the authorised share capital. The amount remaining shall be at the disposal of the General Meeting of
Shareholders.'
It is proposed to appropriate €196 million of the net profit for payment of dividend and to add €341 million
to the retained profits.
Special rights pursuant to the Articles of Association
Article 7, paragraph 2, of the Articles of Association reads:
'The members of the Executive Board and of the Supervisory Board shall be appointed by the General
Meeting of Shareholders from a binding nomination of at least two persons to be made by the Supervisory
Board for each appointment.'
Heineken N.V. is not a 'structuurvennootschap' within the meaning of Sections 152-164 of the Netherlands
Civil Code.
Heineken Holding N.V., a company listed on Euronext Amsterdam, holds 50.005% of the shares of
Heineken N.V.
Authorised Capital
The company's authorised capital amounts to €2.5 billion.
Events after Balance Sheet date
On 20 January 2005 Heineken announced that Heineken Breweries in Russia and Diageo started a joint
venture for the production and distribution of Guinness stout beer in Russia.
On 21 January 2005 Heineken announced that Kulmbacher Brauerei A.G., a subsidiary of Brau Holding
International AG, the joint venture between Heineken (49.9%) and Schörghuber Group (50.1%), has made
a binding offer for 90.7% of Wiirzburger Hofbrau AG at an amount of €34 million.
