Historical Summary
2012
2011
2010*
2009
2008
Revenue and profit
Revenue
18,383
17,123
16,133
19,701
19,319
Results from operating activities
3,691
2,215
2,298
1,630
1,182
Results from operating activities (beia)
2,699
2,958
2,930
1,968
181
as of revenue
147
19.9
15.1
13.9
1.3
as of total assets
7.5
9.1
9.1
9.8
0.9
Net profit
2,999
1,930
1,997
1,018
209
Net profit (beia)
1,696
1,589
1,956
1,055
1,013
as of equity attributable to equity holders of the Company
19.5
16.2
19.7
19.7
22.7
Dividend proposed
512
977
938
318
309
30.2
30.11
30.1
30.1
30.0
Per share of EUR1.60
Cash flow from operating activities
9.69
5.05
9.61
9.87
3.39
Net profit (beia)
2.95
2.71
2.59
2.16
2.07
Dividend proposed
0.89
0.83
0.76
0.65
0.62
Equity attributable to equity holders of the Company
20.33
16.702
17.67
10.95
9.19
Cash flow statement
Cash flow from operations
3,518
3,720
3,598
3,029
2,168
Cash flow related to interest, dividend and income tax
(823)
(809)
(891)
(650)
(508)
Cash flow from operating activities
2,695
2,911
2,657
2,379
1,660
Cash flow (used in)/from operational investing activities
(1,210)
(818)
(669)
(638)
(1,110)
Free operating cash flow
1,985
2,093
1,993
1,791
550
Cash flow (used in)/from acquisitions and disposals
(9,915)
(937)
257
(199)
(3,639)
Dividend paid
(609)
(580)
(983)
(392)
(985)
Cash flow (used in)/from financing activities, excluding dividend
3,660
(959)
(1,689)
(1,995)
3,799
Net cash flow
126
122
78
(295)
225
Cash conversion rate
80.0%
122.1%
125.6%
197.7%
97.8%
Financing ratios
Net debt/EBITDA (beia)
3.09
2.27
2.26
2.62
3.28
Comparatives have been adjusted due to the accounting policy change in employee benefits (see note 2e of the 2011 Financial statements)
1 The percentage 33.1% stated in the Annual Report 2011 is incorrect, the correct dividend proposed as percentage of net profit (beia) for 2011 is 30.1 per cent
2 Including the effect of the Allotted Share Delivery Instrument (ASDI).
168
Heineken N.V. Annual Report 2012
