Source: Extract from Annual Report 2005
as at 31 December
| | 2005 |
2004 |
2003 |
2002 |
2001 |
|---|
| | IFRS |
IFRS |
UK GAAP1 |
UK GAAP1 |
UK GAAP1 |
|---|
| | £m |
£m |
£m |
£m |
£m |
|---|
| Income statement2 | |
|
|
|
|
|---|
| Sales including Groups share of equity accounted investments | |
|
|
|
|
|---|
| Electronics,Intelligence & Support | 3,697 |
3,063 |
|
|
|
|---|
| Land & Armaments | 1,270 |
482 |
|
|
|
|---|
| Programmes | 2,819 |
2,219 |
2,374 |
2,060 |
2,817 |
|---|
| Customer Solutions & Support | 2,923 |
2,856 |
2,042 |
2,133 |
1,978 |
|---|
| Integrated Systems & Partnerships | 1,834 |
2,022 |
|
|
|
|---|
| Commercial Aerospace | 3,232 |
2,924 |
2,904 |
2,716 |
3,051 |
|---|
| HQ and other businesses | 69 |
73 |
281 |
300 |
342 |
|---|
| Avionics3 | |
|
650 |
727 |
632 |
|---|
| North America | |
|
2,636 |
2,561 |
2,538 |
|---|
| International Partnerships | |
|
1,685 |
1,648 |
1,780 |
|---|
| Intra-segment sales | (433) |
(417) |
|
|
|
|---|
| | 15,411 |
13,222 |
12,572 |
12,145 |
13,138 |
|---|
| EBITA4 | |
|
|
|
|
|---|
| Electronics,Intelligence & Support | 324 |
256 |
|
|
|
|---|
| Land & Armaments | 42 |
(8) |
|
|
|
|---|
| Programmes | 133 |
10 |
56 |
69 |
161 |
|---|
| Customer Solutions & Support | 419 |
497 |
411 |
454 |
414 |
|---|
| Integrated Systems & Partnerships | 109 |
95 |
|
|
|
|---|
| Commercial Aerospace | 179 |
201 |
204 |
195 |
213 |
|---|
| HQ and other businesses | (24) |
(35) |
|
(18) |
11 |
|---|
| Avionics | |
|
12 |
66 |
109 |
|---|
| North America | |
|
232 |
247 |
250 |
|---|
| International Partnerships | |
|
65 |
(11) |
102 |
|---|
| | 1,182 |
1,016 |
980 |
1,002 |
1,260 |
|---|
| Amortisation and impairment | (122) |
(110) |
(518) |
(615) |
(495) |
|---|
| Exceptional items (UK GAAP only) | |
|
(9) |
(797) |
(518) |
|---|
| Finance costs including share of equity accounted investments | (215) |
(176) |
(220) |
(206) |
(177) |
|---|
| Profit/(loss) before taxation | 845 |
730 |
233 |
(616) |
70 |
|---|
| Taxation including share of equity accounted investments | (262) |
(273) |
(225) |
(70) |
(198) |
|---|
| Profit/(loss) for the year from continuing operations | 583 |
457 |
8 |
(686) |
(128) |
|---|
| Loss for the year from discontinued operations | (28) |
(454) |
|
|
|
|---|
| Profit/(loss) for the year | 555 |
3 |
8 |
(686) |
(128) |
|---|
| | |
|
|
|
|
|---|
| Balance sheet | |
|
|
|
|
|---|
| Intangible assets | 8,217 |
6,115 |
6,000 |
6,417 |
6,909 |
|---|
| Property,plant and equipment,and investment property | 1,922 |
1,901 |
1,699 |
1,709 |
1,776 |
|---|
| Non-current investments | 1,730 |
1,535 |
1,710 |
1,515 |
1,457 |
|---|
| Inventories | 485 |
498 |
775 |
768 |
1,046 |
|---|
| Payables (excluding cash on customers account) less receivables | (4,596) |
(3,891) |
(3,126) |
(2,887) |
(2,829) |
|---|
| Other financial assets and liabilities | (7) |
|
|
|
|
|---|
| Retirement benefit obligations | (4,101) |
(3,210) |
362 |
315 |
357 |
|---|
| Provisions (current and non-current) | (718) |
(491) |
(749) |
(858) |
(1,132) |
|---|
| Tax,net | 1,012 |
876 |
(195) |
4 |
(95) |
|---|
| Net debt | (1,277) |
(668) |
(870) |
(1,298) |
(831) |
|---|
| Disposal groups held for sale | 137 |
|
|
|
|
|---|
| Minority interests | (16) |
(10) |
(15) |
(20) |
(20) |
|---|
| Shareholders funds | 2,788 |
2,655 |
5,591 |
5,665 |
6,638 |
|---|
| | 2005 |
2004 |
2003 |
2002 |
2001 |
|---|
| | IFRS |
IFRS |
UK GAAP1 |
UK GAAP1 |
UK GAAP1 |
|---|
| Movement in net debt as defined by the Group | £m |
£m |
£m |
£m |
£m |
|---|
| Cash flow from operating activities | 2,099 |
2,350 |
836 |
136 |
|
|---|
| Net capital expenditure5 | (250) |
(285) |
(248) |
(183) |
|
|---|
| Dividends from equity accounted investments | 88 |
69 |
37 |
78 |
|
|---|
| Operating business cash flow | 1,937 |
2,134 |
625 |
31 |
510 |
|---|
| Acquisitions and disposals | (1,836) |
(630) |
(62) |
41 |
98 |
|---|
| Finance costs | (152) |
(179) |
(117) |
(150) |
(189) |
|---|
| Tax and dividends | (342) |
(312) |
(227) |
(391) |
(381) |
|---|
| Other non-cash movements | (52) |
9 |
121 |
(136) |
|
|---|
| Net proceeds from equity issues | 373 |
|
|
32 |
30 |
|---|
| Exchange movements | (219) |
129 |
72 |
97 |
|
|---|
| Net increase/(decrease) in net funds | (291) |
1,151 |
412 |
(476) |
68 |
|---|
| Movement in cash on customers account | (35) |
(13) |
16 |
9 |
|
|---|
| Movement in net debt | (326) |
1,138 |
428 |
(467) |
68 |
|---|
| Opening net debt | (668) |
(870) |
(1,298) |
(831) |
(899) |
|---|
| Impact of IFRS transition | (283) |
(936) |
|
|
|
|---|
| Closing net debt | (1,277) |
(668) |
(870) |
(1,298) |
(831) |
|---|
The reconciliation of operating business cash flow is presented for 2002 to 2005 only.
| Other information | 2005 |
2004 |
2003 |
2002 |
2001 |
|---|
| Basic earnings/(loss) per share total | 17.4p |
(0.6)p |
(0.5)p |
(23.2)p |
(5.1)p |
|---|
| Basic earnings per share underlying6 | 22.5p |
17.4p |
16.6p |
17.3p |
23.4p |
|---|
| Dividend per ordinary share | 10.3p |
9.5p |
9.2p |
9.2p |
9.0p |
|---|
| Number of employees,excluding share of employees of equity accounted investments,at year end | 74,000 |
73,300 |
68,400 |
68,100 |
70,110 |
|---|
| Capital expenditure including leased assets | £347m |
£359m |
£243m |
£274m |
£287m |
|---|
| Order book including the Groups share of equity accounted investments | £59.8bn |
£50.1bn |
£46.0bn |
£42.5bn |
£43.8bn |
|---|
To aid comparison, certain presentational changes have been made to the IFRS amounts in 2004 and 2005.
1 for the years ended 31 December 2001 to 2003, the information is presented on a UK GAAP basis. The nature of the adjustments that would be required to restate this information on an IFRS basis are presented in note 36 to the financial statements
2 for the years ended 31 December 2001 to 2003, the business group information presented under UK GAAP has not been restated to reflect the changes made to the business
groups in 2005
3for the years ended 31 December 2004 and 2005, the Avionics business group is presented as discontinued operations under IFRS
4 for the years ended 31 December 2004 and 2005 this is defined as earnings before interest, tax and amortisation. For the years ended 31 December 2001 to 2003, this is defined as profit before interest and tax, excluding goodwill amortisation and impairment, and exceptional items
5 includes expenditure on property, plant and equipment, investment property, intangible assets and other investments
6 for IFRS, underlying earnings is presented for continuing operations after adjusting for amortisation and impairment of intangible assets, non-cash finance movements on pensions and financial derivatives, and uplift on acquired inventories. For UK GAAP, underlying earnings is presented after adjusting for goodwill amortisation and impairment, and exceptional items
View the report in PDF format.
|
Home
Financial Info
Five Year Summary
