Glossary Report of the Report of the Financial Contents Overview Executive Board Supervisory Board statements Other information Acquisition-related intangible assets Acquisition-related intangible assets are assets that HEINEKEN only recognises as part of a purchase price allocation following an acquisition. This includes amongst others brands, customer-related and certain contract-based intangibles. Before exceptional items and amortisation of acquisition-related intangible assets. Cash conversion ratio Free operating cash flow/net profit (beia) before deduction of non-controlling interests. Depletions Sales by distributors to the retail trade. Dividend payout Proposed dividend as percentage of net profit (beia). Earnings per share Net profit divided by the weighted average number of shares - basic - during the year. Diluted Net profit divided by the weighted average number of shares - diluted - during the year. Earnings before interest, taxes and net finance expenses. EBIT includes HEINEKEN's share in net profit of joint ventures and associates. EBITDA Earnings before interest, taxes, net finance expenses, depreciation and amortisation. EBITDA includes HEINEKEN's share in net profit of joint ventures and associates. Effective tax rate Income tax expense expressed as a percentage of the profit before income tax, adjusted for share of profit of associates and joint ventures and impairments thereof (net of income tax). Exceptional items and amortisation of acquisition-related intangible assets. Free operating cash flow This represents the total of cash flow from operating activities, and cash flow from operational investing activities. Innovation rate From 1 January 2013, the innovation rate is calculated as revenues generated from innovations (introduced in the past 40 quarters for a new category, 20 quarters for a new brand and 12 quarters for all other innovations, excluding packaging renovations) divided by total revenue. Heineken N.V. Annual Report 2013

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2013 | | pagina 149