Notes to the consolidated financial statements continued 16. Investments in associates and joint ventures continued Summary financial information for equity accounted joint ventures and associates Joint ventures 2012 Joint ventures 2011 Associates 2012 Associates Non-current assets 1,270 1,708 65 73 Current assets 683 1,005 50 52 Non-current liabilities (512) (581) (18) (25) Current liabilities (477) (725) (30) (30) Revenue 2,234 2,313 203 153 (1,851) (1,914) (161) (117) In the above table H EINEKEN represents its share of the aggregated amounts of assets, liabilities, revenues and expenses for its loint Ventures and Associates for the year ended 31 December. The revenue and expenses of loint Ventures in 2012 contain 10.5 months of APIPL/APB and 1.5 months of Guinness Anchor Berhad and Thai Asia Pacific Brewery. Both Guinness Anchor Berhad and Thai Asia Pacific Brewery are included in the joint ventures 2012 ending balances. 17. Other investments and receivables In millions of EUR Note 2012 2011 Non-current other investments Loans and advances to customers 32 368 384 Indemnification receivable 32 136 156 Other receivables 32 148 178 Held-to-maturity investments 32 4 5 Available-for-sale investments 32 327 264 Non-current derivatives 32 116 142 1,099 1,129 Current other investments Investments held for trading 32 11 14 11 14 Included in loans are loans to customers with a carrying amount of EUR108 million as at 31 December 2012 (2011EUR120 million). Effective interest rates range from 6 to 12 percent. EUR60 million (2011: EUR72 million) matures between one and five years and EUR48 million (2011: EUR48 million) after five years. The indemnification receivable represents the receivable on FEMSA and Lewiston investments and is a mirroring of the corresponding indemnified liabilities originating from the acquisition of the beer operations of FEMSA and Sona. The other receivables mainly originate from the acquisition of the beer operations of FEMSA and represent a receivable on the Brazilian Authorities on which interest is calculated in accordance with Brazilian legislation. Collection of this receivable is expected to be beyond a period of five years. The main available-for-sale investments are Caribbean Development Company Ltd, S.A. Des Brasseries du Cameroun, Consorcio Cervecero de Nicaragua S.A, Desnoes Geddes Ltd. and Sabeco Ltd. As far as these investments are listed they are measured at their quoted market price. For others the value in use or multiples are used. Debt securities (which are interest-bearing) with a carrying amount of EUR21 million (2011: EUR20 million) are included in available-for-sale investments. Sensitivity analysis - equity price risk An amount of EUR193 million as at 31 December 2012 (2011: EUR95 million) of available-for-sale investments and investments held for trading is listed on stock exchanges. An impact of 1 per cent increase or decrease in the share price at the reporting date would not result in a material impact on a consolidated Group level. 108 Heineken N.V. Annual Report 2012

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2012 | | pagina 110