- Report of the Report of the Contents Overview Executive Board Supervisory Board Financial statements Other information Summarised financial information on subsidiaries with material non-controlling interests On 31 December 2014, Nigerian Breweries Pic. completed the merger with Consolidated Breweries Ltd. HEINEKEN's shareholding in Nigerian Breweries Pic. increased from 54.10 per cent to 54.29 percent as a result of the merger. The transaction was treated as a common control transaction in the HEINEKEN consolidated financial statements. Locally, the acguisition is accounted for as a business combination, hence there are differences between the values below and the statutory financial statements of Nigerian Breweries Pic. The NCI in Nigerian Breweries Pic. is dispersed without any shareholder having an interest of more than 15 per cent. Set out below is the summarised financial information for Nigerian Breweries Pic. which has a non-controlling interest material to HEINEKEN. In millions of EUR 2014 2013 Summarised Balance Sheet Current Assets 274 213 Liabilities (554) (469) Total current net assets (280) (256) Non-current Assets 943 726 Liabilities (303) (184) Total non-current net assets 640 542 In millions of EUR 2014 2013 Summarised Income Statement Revenue 1,281 1,302 Profit before income tax 297 303 Income tax (97) (95) Net profit from continuing operations 200 208 Net profit from discontinuing operations Other comprehensive income/(loss) 1 (18) Total comprehensive income 201 190 Total comprehensive income attributable to NCI 92 87 Dividend paid to NCI 82 42 In millions of EUR 2014 2013 Summarised Cash Flow Cash flow from operating activities 405 530 Interest paid (13) (25) Income tax paid (115) (81) Net cash generated from operating activities 277 424 Net cash used in investing activities (162) (157) Net cash used in financing activities (145) (268) Net change in cash and cash equivalents (30) (1) Exchange difference 3 (1) 37. Subsequent events No subsequent events occurred that are significant to HEINEKEN. 129 Heineken N.V. Annual Report 2014

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