Financial Review (continued) Reported to beia - - - - - Capital expenditure and cash flow OA Heineken NV. Report of the Report of the Financial Sustainability Other 30 Annual Report 2016 Introduction Executive Board Supervisory Board Statements Review Information The 2016 exceptional items and amortisation of acquisition-related intangibles on net profit amounts to EUR 558 million (2015: EUR 156 million). This amount consists of: - EUR 315 million (2015: EUR 321 million) of amortisation of acquisition-related intangibles recorded in EBIT. EUR 10 million (2015: EUR 5 million) of this amount is included in share of net profit of associates and joint ventures. - EUR 480 million (2015: EUR 10 million income) of exceptional items recorded in EBIT. This includes restructuring expenses of EUR 80 million (2015: EUR 106 million), impairments of EUR 328 million (2015: EUR 78 million) of which EUR 286 million relates to The Democratic Republic of Congo (DRC). Other exceptional expenses in EBIT amounted to EUR 72 million (2015: EUR 194 million income which included EUR 379 million disposal gain for EMPAQUE). This includes asset write downs and the recording of provisions for an amount of EUR 62 million (2015: EUR 79 million). - EUR 25 million (2015: EUR 18 million income) of exceptional items in net finance expenses, mainly related to the currency impact on dividend receivables from Nigeria. - EUR 196 million (2015: EUR 124 million) in income tax expense includes the tax impact on amortisation of acquisition-related intangible assets of EUR 73 million (2015: EUR 75 million), the tax impact on exceptional items of EUR 36 million (2015: EUR 58 million) and an exceptional income tax benefit of EUR 87 million (2015: EUR 9 million expense), mainly relating to previously unrecognised deferred tax assets in 2016. - Total amount of Eia allocated to non-controlling interest amounts to EUR 66 million (2015: EUR 13 million). In millions of EUR Reported 2016 Eia 2016 Beia 2016 Reported 2015 Eia 2015 Beia 2015 Revenue 20,792 20,792 20,511 20,511 Other income 46 (46) 411 (411) Total expenses (18,083) 831 (17,252) (17,847) 717 (17130) Operating profit 2,755 785 3,540 3,075 306 3,381 Share of net profit of assoc./JVs 150 10 161 172 5 177 EBIT 2,905 795 3,700 3,247 311 3,558 Net interest income/(expenses) (359) 4 (355) (352) (352) Other net finance income/(expenses) (134) 20 (114) (57) (19) (76) Income tax expense (673) (196) (869) (697) (125) (822) Minority interests (199) (66) (265) (249) (12) (261) Net profit 1,540 558 2,098 1,892 156 2,048 In millions of EUR 2016 2015 Cash flow from operations before changes in working capital and provisions 4,713 4,280 Total change in working capital 80 371 Change in provisions and employee benefits (73) (165) Cash flow from operations 4,720 4,486 Cash flow related to interest, dividend and income tax (1,002) (997) Cash flow from operating activities 3,718 3,489 Cash flow (used in)/from operational investing activities (1,945) (1,797) Free operating cash flow 1,773 1,692 Cash flow (used in)/from acquisitions and disposals (62) (267) Cash flow (used in)/from financing activities (672) (1,173) Net cash flow 1,039 252 Cash conversion ratio 75% 73%

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2016 | | pagina 31