Issued capital
Ordinary shares
2005
On issue at 1 January
784 784
Issued for cash
784 784
Al 31 December 2005 the authorised share capital comprised 489,974,594 ordinary shares
(2004: 489,974,594). The ordinary shares have a par value of €1.60.
T ie holders of ordinary shares are entitled to receive dividends as declared from time to time
ar d are entitled to one vote per share at meetings of the Company.
T nslation reserve
T e translation reserve comprises foreign exchange differences arising since 1 January 2004, from
the translation of the financial statements of foreign operations of the Company (excluding amounts
a ributable to minority interests).
C ler legal reserves
Tl is reserve relates to the share of profit of participating interests over the distribution of which Heineken
d es not have control. The movement in the reserve reflects retained profits of participating interests
a d dividends received.
h dging and fair value reserve
T e reserve comprises the effective portion of the cumulative net change in the fair value of cash flow
h dging instruments where the hedged transaction has not yet occurred and the cumulative net change
ir the fair value of available-for-sale investments until the investment is derecognised.
C dends
A er the balance sheet date the Executive Board proposed the following dividends. The dividends have
n t been provided for.
lions of EUR 2005 2004
10 per qualifying ordinary share (2004: €0.40) 196196
1 Earnings per share
E ic earnings per share
T e calculation of basic earnings per share at 31 December 2005 was based on the profit attributable
t ordinary shareholders (net profit) of €761 million (2004: €642 million) and a weighted average
n mber of ordinary shares outstanding during the year ended 31 December 2005 of 489,974,594
)04: 489,974,594).
1 Changes in accounting policy
Ir the current financial year Heineken adopted IAS 32 and IAS 39 Financial instruments. The previous-year
fi ures have not been adapted for comparative purposes, in accordance with the exemption granted by IFRS1.
If 2004 under previous accounting principles, Heineken recorded available-for-sale equity securities at
c st and did not recognise derivatives. In accordance with IAS 32 and IAS 39, they should be recognised
a fair value.
Heineken N.V. - Annual Report 2005