131 HEINEKEN N.V. ANNUAL REPORT 2008 31. Off-balance sheet commitments Less than 1-5 More than Total In millions of EUR Total 1 year years 5 years 2007 Guarantees to banks for loans (by third parties) 408 181 165 62 387 Other guarantees 89 20 13 56 78 Guarantees 497 201 178 118 465 Lease operational lease commitments 378 66 195 117 242 Property, plant equipment ordered 56 56 - - 49 Raw materials purchase contracts 1,318 216 393 709 604 Other off-balance sheet obligations 2,325 384 1,306 635 410 Off-balance sheet obligations 4,077 722 1,894 1,461 1,305 Undrawn committed bank facilities 1,640 56 1,584 - 2,014 Heineken leases buildings, cars and equipment. Guarantees to banks for loans relate to loans to customers, which are given by external parties in the ordinary course of business of Heineken. During the year ended 31 December 2008 €177 million (2007: €140 million) was recognised as an expense in he income statement in respect of operating leases and rent. Dther off-balance sheet obligations mainly include distribution, rental, service and sponsorship contracts. iommitted bank facilities are credit facilities on which a commitment fee is paid as compensation for the bank's equirement to reserve capital. For the details of these committed bank facilities refer to note 24. The bank is egally obliged to provide the facility under the terms and conditions of the agreement. he off-balance sheet obligations relating to own-use commodities are not included in the above information. 2. Contingencies he Netherlands leineken is involved in an antitrust case initiated by the European Commission for alleged violations of the U competition laws. By decision of 18 April 2007 the European Commission stated that Heineken and other rewers operating in the Netherlands, restricted competition in the Dutch market during the period 1996- 999. This decision follows an investigation by the European Commission that commenced in March 2000. leineken fully cooperated with the authorities in this investigation. As a result of its decision, the European ommission imposed a fine on Heineken of €219 million. \U cartel decisions by the European Commission may be appealed against before the European Court of First istance and then before the Court of Justice of the European Communities in Luxembourg. These two courts are mpowered to annul decisions in whole or in part and to reduce or increase fines, where this is deemed appropriate. Dn 4 July 2007 Heineken filed an appeal with the European Court of First Instance against the decision of the uropean Commission as Heineken disagrees with the findings of the European Commission. Pending appeal, leineken was obliged to pay the fine to the European Commission. This imposed fine was treated as an xpense in 2007. he European Commission filed its defence on 22 November 2007. Heineken filed its statement of reply on March 2008. The European Commission filed its reply by rejoinder on 29 May 2008. Heineken is entitled a request oral pleadings before the court. A final decision by the European Court is expected thereafter. arlsberg he consideration paid (purchase price) for the acquisition of S&N is subject to change as, inline with the onsortium agreement, the final net debt settlement is being discussed between the consortium partners. It is ot expected that these discussions will be completed before expiration of the one-year time window under IFRS 3. »ny changes to the consideration paid in subsequent accounting periods will be adjusted to goodwill. Given that he outcome is not certain, it would not be practicable to estimate the financial effects of the net debt settlement.

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2008 | | pagina 133