Glossary
Report of the Report of the Financial
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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