Glossary Definitions of terms and phrases used in this report 154 Other information Beia Before exceptional items and amortisation of brands. Cash conversion ratio Free operating cash flow/Net profit (beia) before deduction of minority interests. Depletions Sales by distributors to the retail trade. Dividend payout Proposed dividend as percentage of net profit (beia). Earnings per share Basic Net profit divided by the weighted average number of shares - basic - during the year. Diluted Net profit divided by the weighted average number of shares - diluted - during the year EBIT Earnings before interest and taxes and net finance expenses. EBITDA Earnings before interest and taxes and net finance expenses before depreciation and amortisation. Effective tax rate Taxable profit adjusted for share of profit of associates, dividend income and impairments of other investments. Fit2Fight Cost saving programme aimed at reducing the fixed cost base versus 2005 by €450 million by 2008. Fixed costs under Fit2Fight Fixed costs under Fit2Fight include personnel costs, depreciation and amortisation, repair and maintenance costs and other fixed costs. Exceptional items are excluded from these costs. Fixed costs ratio Fixed costs under Fit2Fight as a percentage of revenue. Free operating cash flow This represents the total of cash flow from operating activities, and cash flow from operational investing activities. Gearing Net debt/shareholders' equity. Net debt Non-current and current interest-bearing loans and borrowings and bank overdrafts less investments held for trading and cash. Net profit Profit after deduction of minority interests (profit attributable to equity holders of the Company). Organic growth Growth excluding the effect of foreign exchange rate movements, consolidation changes, exceptional items, amortisation of brands and changes in accounting policies. Heineken N.V. Annual Report 2007

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2007 | | pagina 152