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Report of the Report of the
Contents Overview Executive Board Supervisory Board
Financial
statements
Other information
32. Financial risk management and financial instruments
Recent times have proven the credit markets situation could be such that it is difficult to generate capital to finance long-term growth
of HEINEKEN. Although currently the situation is more stable, HEINEKEN has a clear focus on ensuring sufficient access to capital
markets to finance long-term growth and to refinance maturing debt obligations. Financing strategies are under continuous evaluation.
In addition, HEINEKEN focuses on a further fine-tuning of the maturity profile of its long-term debts with its forecast operating
cash flows. Strong cost and cash management and controls over investment proposals are in place to ensure effective and efficient
allocation of financial resources.
Contractual maturities
The following are the contractual maturities of non-derivative financial liabilities and derivative financial assets and liabilities,
including interest payments and excluding the impact of netting agreements:
2013
In millions of EUR
Carrying
amount
Contractual
cash flows
Less than
1 year
1 -2 years
2-5 years
More than
5 years
Financial liabilities
Interest-bearing liabilities
(12,170)
(16,212)
(A.3A0)
(1.A77)
(3,691)
(6.70A)
Non-interest-bearing liabilities
(9)
(9)
(2)
(2)
(2)
(3)
Trade and other payables, excluding interest,
dividends and derivatives
(A,752)
(A,752)
(A,752)
Derivative financial assets and (liabilities)
Interest rate swaps used for hedge
accounting, net
(86)
(32)
(8A)
AO
12
Forward exchange contracts used for hedge
accounting, net
35
36
3A
2
Commodity derivatives used for hedge
accounting, net
(26)
(26)
(2A)
(2)
Derivatives not used for hedge accounting, net
(7)
(7)
(7)
(17,015)
(21,002)
(9,175)
(1.A39)
(3,681)
(6,707)
2012
In millions of EUR
Carrying
amount
Contractual
cash flows
Less than
1 year
1 -2 years
2-5 years
More than
5 years
Financial liabilities
Interest-bearing liabilities
(13,360)
(15,900)
(2,683)
(2,277)
(A,192)
(6.7A8)
Non-interest-bearing liabilities
(21)
(A7)
(8)
(22)
(13)
(A)
Trade and other payables, excluding interest,
dividends and derivatives
(A ,9 69)
(A ,9 69)
(A ,9 69)
Derivative financial assets and( liabilities)
Interest rate swaps used for hedge
accounting, net
12
A6
33
(11 A)
85
A2
Forward exchange contracts used for hedge
accounting, net
10
7
A
3
Commodity derivatives used for hedge
accounting, net
(22)
(21)
(20)
(1)
Derivatives not used for hedge accounting, net
(11)
(17)
(16)
(1)
(18,361)
(20,901)
(7,659)
(2.A12)
(A,120)
(6,710)
Heineken N.V. Annual Report 2013
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