Annual Report 2008 in PDF - GKN

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74 Consolidated Income Statement For the year ended 31 December 2008 GKN plc Annual Report 2008 Notes 2008 2007 £m £m Sales 2 4,376 3,869 Trading profit 201 277 Restructuring and impairment charges (153) (31) Amortisation of non-operating intangible assets arising on business combinations (10) (8) Profits and losses on sale or closures of businesses — (7) Change in value of derivative and other financial instruments (124) (10) Operating profit/(loss) 3 (86) 221 Share of post-tax earnings of joint ventures 13 6 24 Interest payable 4 (66) (62) Interest receivable 4 19 19 Other net financing charges 26 (3) (3) Net financing costs (50) (46) Profit/(loss) before taxation (130) 199 Taxation 5 10 (1) Profit/(loss) from continuing operations (120) 198 Profit after taxation from discontinued operations 6 13 — Profit/(loss) after taxation for the year (107) 198 Profit attributable to minority interests 2 2 Profit/(loss) attributable to equity shareholders (109) 196 Earnings per share — p 7 (107) 198 Continuing operations — basic (17.3) 27.9 Continuing operations — diluted (17.3) 27.8 Dividends per share — p 8 Interim dividend per share 4.5 4.3 Final dividend per share — 9.2
Consolidated Statement of Recognised Income and Expense For the year ended 31 December 2008 Financial Statements Consolidated Income Statement Consolidated Statement of Recognised Income and Expense Notes 2008 2007 £m £m Currency variations Derivative financial instruments: 565 66 Net transactional hedging 19 (8) — Translational hedging Actuarial gains and losses on post-employment obligations: 19 (213) (28) Subsidiaries 26 (386) 224 Joint ventures — 1 Tax on items taken directly to equity 5 (23) (92) Net profits/(losses) not recognised in the income statement (65) 171 Profit/(loss) for the year (107) 198 Total recognised income and expense for the year Total recognised income and expense for the year attributable to: 23 (172) 369 Equity shareholders (178) 365 Minority interests 6 4 (172) 369 www.gkn.com 75
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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
Page 27 and 28: 2008 2007 GKN Driveline £m £m Sal
Page 29 and 30: Continuing evolution of powder meta
Page 31 and 32: Despite a £6 million positive impa
Page 33 and 34: GKN OffHighway is a first tier supp
Page 35 and 36: Trading profit of subsidiaries of
Page 37 and 38: In January 2009 GKN completed the a
Page 39 and 40: Divisional strategy GKN Aerospace
Page 41 and 42: Financing The following section des
Page 43 and 44: Competitive markets and competition
Page 45 and 46: Living the Values GKN is a group of
Page 47 and 48: Delivering advanced technology Deli
Page 49 and 50: Engaging more fully with our employ
Page 51 and 52: Accident frequency rate (AFR) Numbe
Page 53 and 54: Contributing to our communities We
Page 55 and 56: Andrew Reynolds Smith (42) Chief Ex
Page 57 and 58: Dividend An interim dividend of 4.5
Page 59 and 60: On joining the Board, a Director re
Page 61 and 62: Directors’ attendance record The
Page 63 and 64: Audit Committee Report Role of the
Page 65 and 66: Directors’ Remuneration Report Ro
Page 67 and 68: The companies making up the compara
Page 69 and 70: The arrangements for providing reti
Page 71 and 72: Governance Directors’ Remuneratio
Page 73 and 74: Details of the options over GKN sha
Page 75 and 76: Governance Share interests The bene
Page 77: Independent Auditors’ Report to t
Page 81 and 82: Consolidated Cash Flow Statement Fo
Page 83 and 84: charges relating to the Group-wide
Page 85 and 86: Financial Statements Notes to the F
Page 89 and 90: 2 Segmental analysis continued Prim
Page 91 and 92: 3 Operating profit continued (v) Au
Page 93 and 94: 3 Operating profit continued (c) Am
Page 95 and 96: 5 Taxation continued Financial Stat
Page 101 and 102: 11 Goodwill and other intangible as
Page 103 and 104: 11 Goodwill and other intangible as
Page 105 and 106: 14 Other receivables and investment
Page 107 and 108: 18 Net borrowings continued Financi
Page 111 and 112: Financial Statements 19 Financial r
Page 115 and 116: 24 Acquisitions There were no acqui
Page 117 and 118: 26 Post-employment obligations Fina
Page 119 and 120: 26 Post-employment obligations cont
Page 123 and 124: Independent Auditors’ Report to t
Page 125 and 126: Notes to the Financial Statements o
Page 127 and 128: Group Financial Record For the year
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OffHighway GKN OffHighway Ltd GKN W
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Unsolicited mail GKN is obliged by
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Contact Details GKN plc PO Box 55 I
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