Report of the Report of the Financial
Contents Overview Executive Board Supervisory Board statements
Other information
2013
2012*
2011
2010"
2009
EBIT (beia)/net interest expense
5.8
6.0
6.4
5.4
3.9
Free operating cash flow/net debt
14%
12%
25%
25%
23%
Net debt/total equity
0.9
1.0
0.8
0.8
1.4
Financing
In millions of EUR
Share capital
922
922
922
922
784
Reserves and retained earnings
10,480
10,812
8,852
9,010
4,567
Equity attributable to equity holders of the Company
11,402
11,734
9,774
9,932
5,351
Non-controlling interest
954
1,071
318
288
296
Total equity
12,356
12,805
10,092
10,220
5,647
Employee benefits
1,202
1,575
1,174
1,097
634
Provisions (including deferred tax liabilities)
1,982
2,340
1,483
1,589
1,304
Non-current loans and borrowings
9,853
11,437
8,199
8,078
7,401
Other liabilities (excluding provisions)
7,944
7,823
6,179
5,678
5,194
Liabilities (excluding provisions)
17,797
19,260
14,378
13,756
12,595
Total equity and liabilities
33,337
35,980
27,127
26,662
20,180
Equity attributable to equity holders of the Company/
(employee benefits, provisions, and liabilities)
0.58
0.46
0.57
0.60
0.37
Employment of capital
In millions of EUR
Property, plant and equipment
8,454
8,844
7,860
7,687
6,017
Intangible assets
15,934
17,688
10,835
10,890
7,135
Other non-current assets
3,454
3,911
3,724
3,767
2,875
Total non-current assets
27,842
30,443
22,419
22,344
16,027
Inventories
1,512
1,596
1,352
1,206
1,010
Trade and other current assets
2,693
2,904
2,543
2,502
2,623
Cash, cash equivalents and current other investments
1,290
1,037
813
610
520
Total current assets
5,495
5,537
4,708
4,318
4,153
Total assets
33,337
35,980
27,127
26,662
20,180
Total equity/total non-current assets
0.44
0.42
0.45
0.46
0.35
Current assets/current liabilities (excluding provisions)
0.70
0.72
0.78
0.79
0.80
Restated for the revised IAS 19 as implemented in 2013 and finalisation of the purchase price allocation for APB.
**Restated for the accounting policy change in employee benefits as implemented in 2011.
Heineken N.V. Annual Report 2013 147
