Report of the
Report of the
16. Investments in associates and joint ventures
HEINEKEN has the following (direct and indirect) significant investments in associates and joint ventures:
Brau Holding International GmbH Co KgaA
Zagorka Brewery A. D.
Pivara Skopje A.D.
Brasseries du Congo S.A.
Compania Cervecerias Unidas S.A.
Tempo Beverages Ltd.
Heineken Lion Australia Pty.
Diageo Heineken Namibia B.V.
United Breweries Limited
DHN Drinks (Pty) Ltd.
Sedibeng Brewery Pty Ltd.*
Asia Pacific Investment Pte. Ltd.***
Asia Pacific Breweries Ltd.***
Guinness Anchor Berhad
Thai Asia Pacific Brewery
Cerveceria Costa Rica S.A.
JSC FE Efes Kazakhstan**
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.
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
Income joint ventures 179 215
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