Report of the
Report of the
Contents
Overview
Executive Board
Supervisory Board
Financial
statements
Other
information
26. Finance lease liabilities
Finance lease liabilities are payable as follows:
In millions of EUR
Future Present value
minimum of minimum
lease lease
payments payments
2014 Interest 2014 2014 2013
Interest 2013
Present value
of minimum
lease
payments
2013
Less than one year
Between one and five years
More than five years
2
15
2
15
27. Non-GAAP measures
In the internal management reports, HEINEKEN measures its performance primarily based on EBIT and EBIT beia (before exceptional items
and amortisation of acquisition-related intangible assets). Both are non-GAAP measures not calculated in accordance with IFRS. Exceptional
items are defined as items of income and expense of such size, nature or incidence, that in the view of management their disclosure is relevant
to explain the performance of HEINEKEN for the period. Beia adjustments are also applied on operating profit and net profit metrics.
The table below presents the relationship between IFRS measures, being results from operating activities and net profit, and HEINEKEN
non-GAAP measures, being EBIT, EBIT (beia), consolidated operating profit (beia), Group operating profit (beia) and net profit (beia).
In millions of EUR
20W
20131
Results from operating activities
2,780
2,554
Share of profit of associates and joint ventures and impairments thereof (net of income tax)
148
2,928
340
146
2,700
EBIT
Exceptional items and amortisation of acquisition-related intangible assets included in EBIT
391
EBIT (beia)
3,268
3,091
Share of profit of associates and joint ventures and impairments thereof (beia)
(net of income tax)
(139)
(150)
Consolidated operating profit (beia)
3,129
2,941
Attributable share of operating profit from joint ventures and associates and impairments thereof
230
3,359
251
Group operating profit (beia)
3,192
Profit attributable to equity holders of the Company (net profit)
1,516
1,364
Exceptional items and amortisation of acquisition-related intangible assets included in EBIT
340
(1)
(52)
(45)
391
Exceptional items included in finance costs
(11)
Exceptional items included in income tax expense
(151)
Exceptional items included in non-controlling interest
(8)
Net profit (beia)
1,758
1,585
'Unaudited
The 2014 exceptional items included in EBIT contain the amortisation of acquisition-related intangibles for EUR291 million (2013: EUR329 million),
restructuring expenses of EUR111 million (2013: EUR99 million), the settlement of indemnified tax liabilities of EUR39 million and the
impairment of intangible assets and P, P E in Tunisia for EUR21 million. These items are partly offset by past service benefit in the Netherlands
due to a change in pension legislation of EUR88 million and the gain on revaluation of our PHEI in Zagorkaof EUR51 million.
105
Heineken N.V. Annual Report 2014