Glossary
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Acquisition-related intangible assets
Acquisition-related intangible assets are assets that HEIN EKEN only recognises as part of a purchase price allocation following an acquisition.
This includes, among 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.
Cash flow (used in)/from operational investing activities
This represents the total of cash flow from sale and purchase of property, plant and equipment and intangible assets, proceeds and receipts of loans
to customers and other investments.
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
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.
153 Heineken N.V. Annual Report 2015