Annual Reports

Annual Report and Accounts 2017

Headlines of the year

Headlines of the year
  • Management sales up 11% (organic sales up 6%), exceeding £10 billion for the first time.
  • Excluding £112 million North American Aerospace balance sheet review adjustments:
    • Operating profit (management basis) of £774 million (2016: £773 million).
    • Earnings per share up 2% to 31.7 pence (2016: 31.0 pence).
  • Order book on electrified drivelines reaches more than £2 billion.
  • Ramp up of new engine deliveries to increase significantly.
  • New product segment strategy and Project Boost announced and being implemented.
SALES
£10,409m
2016: £9,414m
EARNINGS PER SHARE
26.6p
2016: 31.0p
PROFIT BEFORE TAX
£572m
2016: £678m
*All data is presented on a management basis which aggregates sales of subsidiaries with the Group's share from equity accounted investments.

Chairman's statement

"2017 was a year of contrasts. In some respects we had a good year: posting record management sales of £10.4 billion, extending our eDrive order book to more than £2 billion, and making progress in reducing the deficit in our UK pension scheme. However, we had disappointing trading margin and cash results."

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Mike Turner CBE, Chairman

Download full statement .PDF (76 kb)
Chairman's statement

Chief Executive's review

"GKN has examples of world leading technology throughout our divisions. And this technology is delivered by great people. We serve customers in some of the most exciting sectors and we operate in communities all over the world that rely on the economic activity we bring."

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Anne Stevens, Chief Executive

Download full statement .PDF (85 kb)
Chief Executive's review

Further reading