169
Glossary
Report of the
Report of the
Financial
Sustainability
Other
Introduction
Executive Board
Supervisory Board
Statements
Review
Information
Heineken N.V. Annual Report 2017
Acquisition-related intangible assets
Acquisition-related intangible assets are assetsthat HEINEKEN only
recognises as part of a purchase price allocation following an acquisition.
This includes, among others, brands, customer-related and certain
contract-based intangibles.
Beia
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.
Consolidation changes
Changes as a result of business combinations or disposals.
Depletions
Sales by distributors to the retail trade.
Dividend payout
Proposed dividend as percentage of net profit (beia).
Earnings per share
Basic
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.
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).
Eia
Exceptional items and amortisation of acquisition-related
intangible assets.
Exceptional items
Items of income and expense of such size, nature or incidence, that
in the view of management their disclosure is relevant to explain the
performance of HEINEKEN for the period.
Free operating cash flow
This represents the total of cash flow from operating activities and cash
flow from operational investing activities.
Net debt
Non-current and current interest-bearing loans and borrowings, bank
overdrafts and commercial papers and market value of cross-currency
interest rate swaps less investments held fortrading and cash.
Net profit
Profit after deduction of non-controlling interests (profit attributable to
equity holders of the Company).
Organic growth
Growth excluding the effect of foreign currency translational effects,
consolidation changes, exceptional items and amortisation of
acquisition-related intangible assets.
Organic volume growth
Growth in volume, excluding the effect of consolidation changes.
Profit
Total profit of HEINEKEN before deduction of non-controlling interests.
All brand names mentioned in this report, including those brand
names not marked by an represent registered trademarks and
are legally protected.
Region
A region is defined as HEINEKEN's managerial classification of countries
into geographical units.
Volume
(Consolidated) beer volume
100% of beer volume produced and sold by consolidated companies.
Group beer volume
Consolidated beer volume plus attributable share of beer volume from
joint ventures and associates.
Licensed non-beer volume
HEINEKEN's brands produced and sold under licence by third parties
as well as cider, soft drinks and other non-beer volume sold in
consolidated companies.
Third party products volume
Volume of third party products sold through consolidated companies.
Total volume
100% of volume produced and sold by consolidated companies
(including beer, cider, soft drinks and other beverages), volume of third
party products and volume of HEINEKEN's brands produced and sold
under licence by third parties.
Weighted average number of shares
Basic
Weighted average number of outstanding shares.
Diluted
Weighted average number of outstanding shares and the weighted
average number of ordinary shares that would be issued on conversion
of the dilutive potential ordinary shares into ordinary shares as a result
of HEINEKEN's share-based payment plans.
