PERFORMANCE HIGHLIGHTS Heineken €14,319 MILLION €1,932 MILLION €1,013 MILLION 125.8 MILLION HECTOLITRES 25.9 MILLION HECTOLITRES 2 Strong organic net profit growth of 11 per cent, ahead of forecast; net profit (beia) amounted to €1,013 million. Reported net profit of €209 million: diluted by lower than expected profits from new businesses, related financing charges and net exceptional charges of €757 million. Consolidated beer volume grew 3.5 per cent organically. 3 Key figures2 HEINEKEN N.V. ANNUAL REPORT 2008 Revenue 27.3% EBIT (beia) 10.5% Net profit (beia) (9.5%) Consolidated beer volume 19.4% Heineken volume in premium segment 4.7% EBIT (beia)1 In millions of EUR Net profit (beia) In millions of EUR 2007 I 2008 I 1,932 2008 I Consolidated beer volume1 In millions of hectolitres Heineken volume in premium segment In millions of hectolitres 1,013 125.8 2008 I HEINEKEN N.V. ANNUAL REPORT 2008 Results In millions of EUR 2008 2007' Change in Revenue 14,319 11,245 27.3 EBIT' 1,080 1,418 (23.8) EBIT (beia)3 1,932 1,748 10.5 Net profit 209 807 (74.1) Net profit (beia)3 1,013 1,119 (9.5) EBITDA3 2,286 2,056 11.2 EBITDA (beia)3 2,720 2,384 14.1 Net debt 8,932 1,746 411.6 Dividend (proposed) 304 343 (11.4) Free operating cash flow3 550 (17.0) Balance sheet In millions of EUR Total assets 20,563 11,954 72.0 Equity attributable to equity holders of the Company 4,471 5,404 (17.3) Net debt position 8,932 1,746 411.6 Market capitalisation 10,708 21,639 (50.5) Results and balance sheet per share of €1.60 Weighted average number of shares - basic 488,930,340 (0.1) Net profit 0.43 1.65 (73.9) Net profit (beia) 2.07 2.28 (9.2) Dividend (proposed) 0.62 0.70 (11.4) Free operating cash flow 1.12 1.35 (17.0) Equity attributable to equity holders of the Company 9.14 11.04 (17-2) Share price4 21.90 (50.5) Employees In numbers 56,208 Ratios EBIT as of revenue 7.5% 12.6% (40.5) EBIT as of total assets 5.3% 11.9% (55.5) Net profit as of average equity attributable to equity holders of the Company 4.2% 15.5% (72.9) Net debt/EBITDA (beia) 3.28 0.73 349.3 Dividend payout 30.0% 30.7% (2.3) Cash conversion rate 47.8% 53.3% (10.3) VNet interest expenses 6.0 (73.5) 9 1 Restated for change in accounting policies as disclosed in note 3(b) of the notes to the consolidated financial statements. 2 Please refer to the 'Glossary' for definitions. 3 '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 49 to 53. As at 31 December.

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2008 | | pagina 12