Glossary Other information 158 ASDI Allotted share delivery instrument (ASDI) representing Heineken's obligation to deliver shares, either through issuance and or purchasing of its own shares. Beia Before exceptional items and amortisation of brands and customer relationships. 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 and joint ventures, dividend income and impairments of other investments. Fixed costs Fixed costs 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 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/total equity. Net debt Non-current and current interest-bearing loans and borrowings and bank overdrafts less investments held for trading and cash. Net debt/EBITDA (beia) ratio The ratio is based on a 12-month rolling calculation for EBITDA (beia). 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 customer relationships and changes in accounting policies. Organic volume growth Increase in consolidated volume, excluding the effect of the first time consolidation of acquisitions. Profit Total profit of the Group before deduction of minority interests. All brand names mentioned in this report, including those brand names not marked by an represent registered trade marks and are legally protected. Region A region is defined as Fleineken's managerial classification of countries into geographical units. Revenue Net realised sales proceeds in euros. Top-line growth Growth in net revenue. Volume Amstel® volume The Group beer volume of the Amstel brand. Consolidated beer volume (excluding Joint Ventures) 100 per cent of beer volume produced and sold by fully consolidated companies excluding the beer volume brewed and sold by joint venture companies.

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2010 | | pagina 155