Historical Summary
Report of the
Report of the
Financial
Contents
Overview
Executive Board
Supervisory Board
statements
2014 2013 2012* 2011 2010**
Revenue and profit
In millions of EUR
Revenue
19,257
19,203
18,383
17,123
16,133
Results from operating activities
2,780
2,554
3,697
2,215
2,298
Results from operating activities (beia)
3,129
2,941
2,666
2,458
2,430
as% of revenue
16.2
15.3
14.5
14.4
15.1
as of total assets
9.0
8.8
7.4
9.1
9.1
Net profit
1,516
1,364
2,914
1,430
1,447
Net profit (beia)
1,758
1,585
1,661
1,584
1,456
as of equity attributable to equity holders of the Company
14.2
13.9
14.2
16.2
14.7
Dividend proposed
632
512
512
477
438
as of net profit (beia)
35.9
32.3
30.8
30.1
30.1
Per share of EUR1.60
In millions of EUR
Cash flow from operating activities
Net profit (beia) basic
Net profit (beia) diluted
Dividend proposed
Equity attributable to equity holders of the Company
5.32
5.07
4.69
5.05
4.61
3.06
2.76
2.89
2.71
2.59
3.05
2.75
2.88
2.70
2.58
1.10
0.89
0.89
0.83
0.76
21.58
19.83
20.41
16.701
17.67
Cash flow statement
In millions of EUR
4,140
3,983
3,518
3,720
3,548
(1,082)
(1,069)
(823)
(809)
(891)
3,058
2,914
2,695
2,911
2,657
(1,484)
(1,396)
(1,210)
(818)
(664)
1,574
1,518
1,485
2,093
1,993
(189)
555
(4,415)
(937)
257
(723)
(710)
(604)
(580)
(483)
(1,730)
(1,042)
3,660
(454)
(1,689)
(1,068)
321
126
122
78
Cash flow from operations
Cash flow related to interest, dividend and income tax
Cash flow from operating activities
Cash flow (used in)/from operational investing activities
Free operating cash flow
Cash flow (used in)/from acquisitions and disposals
Dividend paid
Cash flow (used in)/from financing activities,
excluding dividend
Net cash flow
Cash conversion rate 78.9% 84.0% 81.5% 122.1% 125.6%
Financing ratios
Net debt/EBITDA (beia) 253 258 209 227 226
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.
"■Including the effect of the Allotted Share Delivery Instrument (ASDI) as included in the Annual Report 2011
Heineken N.V. Annual Report 2014