Annual Report 2008 in PDF - GKN

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128 Subject Index Accounting policies 78–83, 121–122 Acquisitions 2–3, 11, 12, 13, 14, 15, 16, 35, 37, 39, 111 Aerospace IFC, 2, 3, 5, 7, 8, 9, 10, 11, 12, 13, 15, 16, 32–35, 125 American depositary receipts 52, 126 Annual general meeting 52, 126 Assets — goodwill and other intangible 81, 89, 97–99 — property, plant and equipment 79–80, 99 Audit Committee report 59–60 Auditors — audit information 53 — independence 59 — reappointment 53 — remuneration 53, 87 — reports 73, 119 Automotive IFC, 2, 3, 6, 8, 9, 10, 11, 12, 18–23, 124 Balance sheets 76, 120 Board and committees 50–51, 54–57 — Audit Committee 56, 59–60 — Executive Committee 50, 56 — Nominations Committee 56 — Remuneration Committee 56, 61 Borrowings 16, 37, 102–103 Business review 8-49, 52 Capital expenditure 15, 22, 27, 31, 35, 118 Cash flow 10–11, 15, 16, 77, 112 Cautionary statement 8, IBC Chairman’s statement IFC Chief Executive’s statement 2–3 Combined Code compliance 58 Community involvement 49, 53 Corporate governance 54–58 Corporate responsibility 40–49 Directors — attendance record 57 — biographies 50–51 — conflicts of interest 56 — interests in shares 68–71 — remuneration 67 — report 52–53 — responsibility for the accounts 72, 73, 119 — service agreements 65 Discontinued operations 9, 15, 80, 93 Disposals 9, 13, 89 Dividend IFC, 9–10, 17, 53, 93 – reinvestment plan 126 Driveline 2, 6, 8, 13, 16, 20–23, 124 Earnings per share 1, 9–10, 15, 93 Emitec 14, 23, 124 Employees IFC, 2–3, 6-7, 11, 44–45, 94 Environment 11, 46–48 Financial — funding and liquidity 3, 37 — instruments 13, 80, 89, 108 — record 123 — risk 37–38, 104–107 — treasury management 37 Financing costs (net) 14, 89, 113–117 GKN plc Annual Report 2008 Foreign currencies 9, 38, 78 Going concern 37, 59 Group — history IFC, 3, 4–5, 40–49 — overview 6–7 Health and safety 3, 11, 46–47 Income statement 74, 78–79 Interest payable/receivable 14, 89 Internal control 57–58 Joint ventures 11, 12, 13, 14, 15, 16, 22, 23, 35, 78, 100, 124–125 Key performance indicators — financial 9–11 — non-financial 11, 47–48 Long term incentives 62–64, 95–96 Markets IFC, 2, 3, 6–7, 9, 20, 26, 30, 34, 38–39 OffHighway IFC, 2, 3, 7, 8, 9, 10, 11, 12, 28–31, 125 Other Automotive 6, 8, 23, 124 Outlook 3 Pensions/post-employment obligations 16–17, 82, 113–117 Post-balance sheet events 1, 2, 3, 16, 33, 35, 37, 111, 118 Powder Metallurgy 2, 3, 6, 8, 9, 10, 12, 13, 24–27, 124 Profit/Loss — before tax 1, 2, 14 — operating 13, 86-89 — trading 9, 12, 14, 19, 22, 23, 25, 27, 29, 31, 33, 35, 86 Recognised income and expense statement 75 Registrar 126, IBC Related party transactions 118 Remuneration report 61–71 Research and development 23, 35, 81 Restructuring and impairment IFC, 2, 3, 13, 22, 23, 27, 31, 35, 87–88, 97–98 Risk and risk management 36–39, 42, 57–58, 104–107 Sales 1, 2, 3, 6–7, 10, 11–12, 19, 22, 23, 25, 26, 29, 30–31, 33, 35, 79 Segmental analysis 84–86 Share-based payments 82, 95–96 Shareholder analysis 127 Shareholders’ equity 17, 110 Shares — capital 52, 110 — dealing service 126 — ISA 126 — price information 126 — substantial shareholders 52 Strategy IFC, 9, 21–22, 23, 26, 30, 35 Subsidiary companies 124–125 Suppliers 41, 53 Taxation 14–15, 81, 90–92, 127 Technology 2, 3, 4–5, 18–19, 23, 24–25, 26, 27, 28–29, 32–33, 43 Website 126, IBC Key: IFC — Inside Front Cover IBC — Inside Back Cover
Contact Details GKN plc PO Box 55 Ipsley House Ipsley Church Lane Redditch Worcestershire B98 0TL Tel +44 (0)1527 517715 Fax +44 (0)1527 517700 London Offi ce 50 Pall Mall London SW1Y 5JH Tel +44 (0)20 7930 2424 Fax +44 (0)20 7930 3255 information@gkn.com www.gkn.com Registered in England No. 4191106 This annual report is available on GKN’s website. Photography: Bessemer converter (page 4) and Salmson biplane (page 5) courtesy of Science Museum/SSPL. Morris Mini-Minor (page 5) courtesy of DeFacto (licensed under the Creative Commons Attribution ShareAlike Licence). BMW X6 (page 18) courtesy of BMW (UK) Ltd. Nissan GT-R (page 19) courtesy of Nissan Europe SAS. New Holland Series FR 9000 and T 7000 (page 29) courtesy of Case New Holland. X47B UCAS (page 35) courtesy of Northrop Grumman Corporation. All other images supplied by GKN. This annual report is printed on HannoArt Silk, comprising fi bres sourced from sustainable forest reserves and bleached without the use of chlorine. The production mill for this paper operates to EMAS, ISO 14001 environmental and ISO 9001 quality standards. Registrar Equiniti Aspect House Spencer Road Lancing West Sussex BN99 6DA Tel 0871 384 2962 (+44 121 415 7039 from outside UK) Fax 0871 384 2100 (+44 121 415 7057 from outside UK) www.equiniti.com www.shareview.co.uk Cautionary statement This annual report contains forward looking statements which are made in good faith based on the information available at the time of its approval. It is believed that the expectations refl ected in these statements are reasonable but they may be affected by a number of risks and uncertainties that are inherent in any forward looking statement which could cause actual results to differ materially from those currently anticipated.
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GKN plc Annual Report and Accounts
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Our Objective GKN is committed to p
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2008 Performance* Group results sig
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Although we expect 2009 to be a ver
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Constant velocity joints (CVJs) rev
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Off-highway driveshaft Blended wing
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Strategy and business objectives Th
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Operating cash flow performance of
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Restructuring and impairment costs
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2008 2007 Tax charge analysis % % W
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Overseas pensions The principal cou
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GKN received the prestigious Nissan
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GKN Driveline manufactures across a
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2008 2007 GKN Driveline £m £m Sal
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Continuing evolution of powder meta
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Despite a £6 million positive impa
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GKN OffHighway is a first tier supp
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Trading profit of subsidiaries of
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In January 2009 GKN completed the a
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Divisional strategy GKN Aerospace
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Financing The following section des
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Competitive markets and competition
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Living the Values GKN is a group of
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Delivering advanced technology Deli
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Engaging more fully with our employ
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Accident frequency rate (AFR) Numbe
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Contributing to our communities We
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Andrew Reynolds Smith (42) Chief Ex
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Dividend An interim dividend of 4.5
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On joining the Board, a Director re
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Directors’ attendance record The
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Audit Committee Report Role of the
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Directors’ Remuneration Report Ro
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The companies making up the compara
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The arrangements for providing reti
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Governance Directors’ Remuneratio
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Details of the options over GKN sha
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Governance Share interests The bene
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Independent Auditors’ Report to t
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Consolidated Statement of Recognise
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Page 89 and 90: 2 Segmental analysis continued Prim
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Page 115 and 116: 24 Acquisitions There were no acqui
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Page 125 and 126: Notes to the Financial Statements o
Page 127 and 128: Group Financial Record For the year
Page 129 and 130: OffHighway GKN OffHighway Ltd GKN W
Page 131: Unsolicited mail GKN is obliged by
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Annual Report 2008 in PDF - GKN

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