Key figures1 Results Iri millions of EUR 2007 2006 Change in Revenue 12,564 11,829 6.2 EBIT2 1,528 1,832 (16.6) EBIT (beia)2 1,846 1,569 17.6 Net profit 807 1,211 (33.4) Net profit (beia)2 1,119 930 20.4 EBITDA2 2,292 2,618 (12.5) EBITDA (beia)2 2,568 2,346 9.5 Net debt 1,926 1,914 0.6 Dividend (proposed) 343 294 16.7 Free operating cash flow2 745 1,122 (33.6) Balance sheet In millions of EUR Total assets 12,968 12,997 (0.2) Equity attributable to equity holders of the Company 5,404 5,009 7.9 Net debt position 1,926 1,914 0.6 Market capitalisation 21,639 17,654 22.6 Results and balance sheet per share of €1.60 Weighted average number of shares - basic 489,353,315 489,712,594 Net profit 1.65 2.47 (33.2) Net profit (beia) 2.29 1.90 20.4 Dividend (proposed) 0.70 0.60 16.7 Free operating cash flow 1.52 2.29 (33.6) Equity attributable to equity holders of the Company 11.04 10.23 7.9 Share price as at 31 December 44.22 36.03 22.7 Employees In numbers Average number of employees pro rata 54,004 ».2) Ratios EBIT as of revenue 12.2% 15.5% (21.3) EBIT as of total assets 11.8% 14.1% (16.3) Net profit as of average shareholders' equity 15.5% 27.5% (43.6) Net debt/EBITDA (beia) 0.75 0.82 (8.5) Dividend payout 30.7% 31.6% 74.5 Cash conversion rate 57.9% 105.6% (45.2) EBITDA/Net interest expenses 22.7 1 Please refer to the 'Glossary' for definitions. 2 'EBIT, EBIT (beia), net profit (beia), EBITDA, EBITDA (beia) and free operating cash flow' are not financial measures calculated in accordance with IFRS. Accordingly, it should not be considered as an alternative to 'results from operating activities' or 'profit' as indicators of our performance, or as an alternative to 'cash flow from operating activities' as a measure of our liquidity. However, we believe that 'EBIT, EBIT (beia), net profit (beia), EBITDA, EBITDA (beia) and free operating cash flow' are measures commonly used by investors and as such useful for disclosure. The presentation on these financial measures may not be comparable to similarly titled measures reported by other companies due to differences in the ways the measures are calculated. For a reconciliation of 'results from operating activities', 'profit' and 'cash flow from operating activities' to 'EBIT, EBIT (beia), net profit (beia), EBITDA, EBITDA (beia) and free operating cash flow' we refer to the financial review on pages 47 to 51.

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2007 | | pagina 9