Key figures1 Results 2010 2009 Revenue 16,133 14,701 9.7% EBIT2 2,476 1,757 40.9% EBIT (beia)2 2,608 2,095 24.5% Net profit 1,436 1,018 41.1% Net profit (beia)2 1,445 1,055 37.0% EBITDA2 3,594 2,840 26.5% EBITDA (beia)2 3,569 2,938 21.5% Dividend (proposed)3 438 318 37.7% 1,993 Balance sheet Total assets 26,549 20,180 31.6% Equity attributable to equity holders of the Company4 10,228 5,351 91.1% Net debt position 8,099 7,704 5.1% Market capitalisation 21,134 16,299 29.7% Results and balance sheet per share of EUR 1.60 Weighted average number of shares - basic4 562,234,726 488,666,607 15.1% Net profit 2.55 2.08 22.6% Net profit (beia) 2.57 2.16 19.0% Dividend (proposed) 0.76 0.65 16.9% Free operating cash flow 3.54 3.56 (0.6)% Equity attributable to equity holders of the Company4 18.19 10.95 66.1% 36.69 Employees 65,730 Ratios EBIT as of revenue 15.3% 12.0% 27.5% EBIT as of total assets 9.3% 8.7% 6.9% Net profit as of average equity attributable to equity holders of the Company5 18.4% 20.7% (11.1)% Net debt/EBITDA (beia) 2.27 2.62 (13.4)% Dividend payout3 30.5% 30.1% 0.7% Cash conversion rate 126.4% 147.7% (14.4)% 7.3 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 35 to 39. 3 Excluding the effect of the Allotted Share Delivery Instrument (ASDI). 4 Including the effect of the ASDI. 5 As at 31 December. V Heineken N.V. Annual Report 2010 1

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2010 | | pagina 7