Overview
Report of the
Executive Board
Report of the
Supervisory Board
Financial statements
Other information
16. Investments in associates and joint ventures
HEINEKEN has the following (direct and indirect) significant investments in associates and joint ventures:
Ownership
2012
Ownership
Joint ventures
Brau Holding International GmbH Co KgaA
Germany
49.9%
49.9%
Zagorka Brewery A. D.
Bulgaria
49.4%
49.4%
Pivara Skopje A.D.
FYR Macedonia
48.2%
48.2%
Brasseries du Congo S.A.
Congo
50.0%
50.0%
Compania Cervecerias Unidas S.A.
Chile
33.1%
33.1%
Tempo Beverages Ltd.
Israel
40.0%
40.0%
Heineken Lion Australia Pty.
Australia
50.0%
50.0%
Sirocco FZCo
Dubai
50.0%
50.0%
Diageo Heineken Namibia B.V.
Namibia
50.0%
50.0%
United Breweries Limited
India
37.4%
37.5%
DHN Drinks (Pty) Ltd.
South Africa
44.6%
44.5%
Sedibeng Brewery Pty Ltd.*
South Africa
75.0%
75.0%
Asia Pacific Investment Pte. Ltd.***
Singapore
-
50.0%
Asia Pacific Breweries Ltd.***
Singapore
-
41.9%
Guinness Anchor Berhad
Malaysia
25.2%
10.7%
Thai Asia Pacific Brewery
Thailand
36.4%
15.4%
Associates
Cerveceria Costa Rica S.A.
Costa Rica
25.0%
25.0%
JSC FE Efes Kazakhstan**
Kazakhstan
28.0%
28.0%
HEINEKEN has joint control as the contract and ownership details determine that for certain main operating and financial decisions unanimous approval is required. As a result this investment
is not consolidated.
This entity is classified as Held for Sale (see note 7).
These entities are consolidated from 15 November 2012 following the APIPL/APB acquisition.
The ownership percentages have changed following the APIPL/APB acquisition on 15 November 2012.
Reporting date
The reporting date of the financial statements of all HEINEKEN entities and joint ventures disclosed are the same as for the Company except for:
(i) Heineken Lion Australia Pty which has a 30 September reporting date;
(ii) DHN Drinks (Pty) Ltd. which has a 30 fune reporting date;
(iii) United Breweries Limited which has a 31 March reporting date;
(iv) Guinness Anchor Berhad which has a 30 lune reporting date; and
(v) Thai Asia Pacific Brewery which has a 30 September reporting date.
The results of (ii). (iii). (iv) and (v) have been adjusted to include numbers for the full financial year ended 31 December 2012.
Share of profit of associates and joint ventures and impairments thereof
In millions of EUR20122011
34
Income joint ventures 179 215
Impairments
240
The income associates contain a HEINEKEN's share in the write off in deferred tax assets in an associate of EUR36 million (see note 27). Included in the
income joint ventures is HEINEKEN's share of the net impairment in liangsu Dafuhao Breweries Co. Ltd in China of EUR11 million.
Heineken N.V. Annual Report 2012
107
