Financial highlights
| Financial highlights for the for the year ended 31 December 2012 |
|
Management basis(1) |
As reported |
|---|
| 2012 |
2011 |
Change |
2012 |
2011 |
Change |
| £m |
£m |
% |
£m |
£m |
% |
| Sales |
6,904 |
6,112 |
+13 |
6,510 |
5,746 |
+13 |
| Operating profit |
557 |
468 |
+19 |
628 |
374 |
+68 |
| Trading margin (%) |
8.1% |
7.7% |
40bps |
|
|
|
| Profit before tax |
497 |
417 |
+19 |
588 |
351 |
+68 |
| Earnings per share |
26.5p |
22.6p |
+17 |
30.2p |
18.0p |
+68 |
| Dividend per share |
7.2p |
6.0p |
+20 |
7.2p |
6.0p |
+20 |
|
|
(1) Financial information set out on this page, unless otherwise stated, is presented on a management basis .
Group highlights(1)
- Group results reflect the continued strong organic growth and the contribution from acquisitions
- Record profits achieved in all four divisions
- Sales increased 13%, up 6% on an organic basis
- Management trading (operating) profit up 19%
- Trading margin improved to 8.1%
- Profit before tax up 19%
- Return on average invested capital of 18.1% (excluding Volvo Aero)
- Earnings per share up 17%
- Final dividend of 4.8 pence per share, giving a total for 2012 of 7.2 pence per share, a 20% increase
- Reported profit before tax of £588 million (2011: £351 million)
- Positive free cash flow of £213 million (2011: £147 million), excluding Volvo Aero
- Net debt of £871 million (2011: £538 million), reflecting the acquisition of Volvo Aero.
|
Financial highlights for the six month period ended 30 June 2012 |
|
Management basis(1) |
As reported |
|---|
| 2012 |
2011 |
Change |
2012 |
2011 |
Change |
| £m |
£m |
% |
£m |
£m |
% |
| Sales |
3,459 |
2,988 |
+16 |
3,254 |
2,799 |
+16 |
| Operating profit (*) |
293 |
224 |
+31 |
301 |
210 |
+43 |
| Profit before tax (*) |
266 |
200 |
+33 |
289 |
202 |
+43 |
| Earnings per share (*) |
14.4p |
10.9p |
+32 |
14.4p |
10.4p |
+38 |
| Interim dividend per share |
2.4p |
2.0p |
+20 |
2.4p |
2.0p |
+20 |
|
|
(*) 2011 includes a £23 million charge and 2012 includes a net £2 million credit following a further insurance claim recovery relating to the 2011 temporary Hoeganaes plant closure in Gallatin, USA.
Group highlights(1)
- Group results reflect the continued strong organic growth in all four Divisions and the contribution from acquisitions:
- Sales up 16% (£471 million) to £3,459 million, +8% on an organic basis;
- Excluding the 2011 effects of the Gallatin incident:
- Management trading (operating) profit up 19% to £293 million;
- Trading margin improved to 8.5%;
- Profit before tax increased 19% to £266 million;
- Earnings per share up 22% to 14.4 pence per share;
- Return on average invested capital reduced to 17.2% (2011: 18.1%), reflecting the 2011 acquisitions.
- Reported profit before tax of £289 million (2011: £202 million).
- Positive free cash flow of £28 million (2011: £25 million).
- Net debt of £590 million (31 December 2011: £538 million).
- Since 30 June 2012:
- Announcement of agreement to acquire Volvo Aero, significantly strengthening GKN Aerospace’s engine components business.
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