Financial statements I Notes to the consolidated financial statements continued 27. Non-GAAP measures In the internal management reports HEINEKEN measures its performance primarily based on EBIT and EBIT (beia), these are non-GAAP measures not calculated in accordance with IFRS. Asimilar non-GAAP adjustment can be made to the IFRS profit or loss as defined in IAS 1 paragraph 7 being the total of income less expense. Exceptional items are defined as items of income and expense of such size, nature or incidence, that in the view of management their disclosure is relevant to explain the performance of HEINEKEN for the period. The table below presents the relationship with IFRS terms, the results from operating activities and profit and HEINEKEN non-GAAP measures being EBIT. EBIT (beia) and profit (beia) for the financial year 2011. 2011* 2010* Results from operating activities 2,215 2,298 Share of profit of associates and joint ventures and impairments thereof (net of income tax) 240 193 HEINEKEN EBIT 2,455 2,491 Exceptional items and amortisation included in EBIT 242 132 HEINEKEN EBIT (beia) 2,697 2,623 Profit attributable to equity holders of the Company 1,430 1,447 Exceptional items and amortisation included in EBIT 242 132 Exceptional items included in finance costs (14) (5) Exceptional items included in tax expense (74) (118) HEINEKEN net profit beia 1,584 1,456 unaudited The exceptional items included in EBIT contain the amortisation of brands and customer relations for EUR170 million (2010: EUR142 million). The EU fine reduction of EUR21 million (gain), gain on sale of brands EUR24 million, redundancies and contract settlements for EUR81 million and the early amortisation and termination of contracts for EUR36 million relating to the Galaxy pub estate. Exceptional items in the other net financing costs reflects fair value movements on interest rate swaps made by Scottish Newcastle in the past that do not qualify for hedge accounting under IFRS. The tax expense exceptional items are for EUR47 million (2010: EUR39 million) related to amortisation of brands and customer relations and the remainder relates to the other exceptional items included in EBIT. EBIT and EBIT (beia) are not financial measures calculated in accordance with IFRS. 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. 118 Heineken N.V. Annual Report 2011

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2011 | | pagina 120