Report of the Report ofthe Financial Other Contents Overview Executive Board Supervisory Board statements information 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 inZagorkaof EUR51 million. Operating profit (beia) Operating profit (beia) grew by 6 .4 per cent to EUR3,129 million. Strong organic growth at 8.7 percent was partially offset by a negative consolidation impact of EUR19 million (or 0.6 percent negative) and an unfavourable foreign currency translational effect of EUR49 million (or 1.7 per cent negative). Organic growth was supported by higher revenue and benefitted from continued costs savings programs. Share of net profit of associates and joint ventures Share of net profit of associates and joint ventures (beia) decreased 7.3 percent (of which 6.2 per cent organically) from EUR150 million to EUR139 million, mainly reflecting a lower contribution from joint ventures in South America and South Africa, which were only partially offset by higher profits in India and in Germany. Results (beia) In millions of EUR 2014 2013 Results from operating activities 2,780 2,554 Share of profit of associates and joint ventures and impairments thereof (net of income tax) 148 146 EBIT 2,928 2,700 Exceptional items and amortisation of acquisition-related intangible assets included in EBIT 340 391 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 230 251 Group operating profit (beia) 3,359 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 340 391 Exceptional items included in finance costs (1) (11) Exceptional items included in income tax expense (52) (151) Exceptional items included in non-controlling interest (45) (8) Net profit (beia) 1,758 1,585 29 Heineken N.V. Annual Report 2014

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2014 | | pagina 31