64. Financial Statements/Consolidated statement of cash flows
For the year ended 31 December 2005
In millions of EUR
Note
2005
2004
Operating activities
Profit attributable to the equity holders
of the parent (Net profit)
761
642
Adjustments for:
Depreciation and amortisation
5
768
682
Gain on sale of property, plant equipment
and intangible assets
5
(58)
(26)
Investment income and share of profit of associates
(128)
(120)
Interest expense
221
243
Tax expense
300
306
Minority interest
108
91
Other non-cash items
158
284
Cash flow from operations before changes in working
capital and provisions
2,130
2,102
Change in trade and other receivables
(76)
69
Change in inventories
(18)
34
Change in trade and other payables
208
27
Total increase in working capital
114
130
Change in provisions and employee benefits
(31)
(69)
Cash flow from operations
2,213
2,163
Interest paid received
(141)
(175)
Dividend received
20
6
Income taxes paid
(220)
(383)
Cash flow from interest dividend and income tax
(341)
(552)
Cash flow from operating activities
1,872
1,611
Investing activities
Proceeds from sale of Property, plant equipment
and intangible assets
161
67
Purchase of intangible assets
(21)
(18)
Purchase of Property, plant equipment
(853)
(719)
Loans issued to customers (debt securities)
(152)
(181)
Repayment on loans to customers (debt securities)
131
112
Cash flow from operational investing activities
(734)
(739)
Acquisition of subsidiaries, associates and investments 2
(730)
(1,117)
Disposal of subsidiaries, associates and investments 2
270
61
Cash flow from acquisitions and disposals
(460)
(1,056)
Cash flow from investing activities
(1,194)
(1,795)
Heineken N.V. - Annual Report 2005
