Contents
01 Profile
02 Performance highlights
04 Milestones 2007
Report of the Executive Board
06 Chief Executive's statement
10 Outlook 2008
12 Executive Committee
14 Operational review
14 Top-line growth
14 The Eleineken brand
16 Innovation, research and development
17 International marketing
18 Shifting the balance
18 The Amstel brand
19 Sustainability
21 Personnel and organisation
22 Regional review
22 Western Europe
26 Central and Eastern Europe
30 Americas
34 Africa and the Middle East
38 Asia Pacific
42 Risk management
47 Financial review
52 Dutch Corporate Governance Code
56 Decree Article 10
Report of the Supervisory Board
58 To the shareholders
61 Supervisory Board
62 Remuneration report
Financial statements
65 Consolidated income statement
66 Consolidated statement of recognised
Income and expense
67 Consolidated balance sheet
68 Consolidated statement of cash flows
70 Notes to the consolidated financial
statements
132 Heineken N.V. balance sheet
133 Heineken N.V. income statement
134 Notes to Heineken N.V.
financial statements
Other information
138 Auditor's report
140 Appropriation of profit
141 Shareholder information
145 Countries and brands
152 Historical summary
154 Glossary
156 Reference information