Annual Report 2009 in PDF - GKN

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06 GKN plc Annual Report 2009 Strategy GKN is a global engineering group operating in more than 30 countries and employing 38,200 people in its subsidiary and joint venture companies worldwide. We are committed to providing long term shareholder value in the form of steadily growing earnings and dividends through the delivery of sustained growth in sales, profitability and cash flow. Group Our strategy is to develop strong niche businesses with leading positions in their end markets and the capability to grow faster than those markets by exploiting our key strengths: KPIs Superior technology Highly skilled and motivated people We implement and monitor performance against strategy through key performance indicators (KPIs), both financial and non-financial. Progress against these KPIs is reported regularly to the Board and senior management. In addition, certain financial KPIs are linked to executive remuneration. see pages 28 and 29 FOR MORE INFORMATION Exceptional customer service Risk We have an extensive risk management framework designed to identify, assess and mitigate significant business risks which could impact delivery of our strategic plan. Risk management processes operate throughout the Group at plant, divisional and corporate levels and regular reports are made to the Board and its Committees. see pages 30 and 31 FOR MORE INFORMATION A global footprint World class lean manufacturing We aim to accelerate growth through focused acquisitions in our chosen businesses. The GKN Way A key contributor to the successful delivery of our strategy is the GKN Way — a Groupwide approach to the way in which we sustain and develop our business. Encompassing a culture of continuous improvement, a focus on technology and development of our people, the GKN Way drives us to achieve excellence in everything we do. see pages 32 to 37 FOR MORE INFORMATION
Automotive GKN is the world’s leading supplier of automotive driveline components and systems. Our strategy is to exploit this market leading presence and the business’ strong technology and global manufacturing footprint to: provide innovative driveline systems and solutions, supporting developing market trends for more fuel efficient vehicles; and increase our business in high growth regions serving the needs of strategic customers. Aerospace GKN is a market leader in the design and manufacture of advanced composites, transparencies and complex metal aerostructures. Our strategy is to build on our superior technology and design capabilities to grow the business by: exploiting our strong positions on existing programmes for new aircraft; and developing new technologies for future commercial and defence platforms. Powder Metallurgy GKN is the world’s leading manufacturer of sintered components and the largest producer of metal powder in North America. Our strategy is to exploit powder metal technology through the development of ‘design for powder metal’ applications: to meet the emerging requirements for low carbon engine, emissions and transmission technologies; and to expand the business in high growth economies. OffHighway GKN designs and manufactures a portfolio of products for off-highway vehicles with leading market positions in the supply of power takeoff shafts and wheels. Our strategy is to develop the business by: enhancing customer and market focus providing superior power transmission solutions to our chosen sectors; and extending our ability to provide global supply solutions to meet customer demand for off-highway wheels. www.gkn.com 07
Page 1 and 2: Automotive Powder Metallurgy Aerosp
Page 3 and 4: The Group has operations in over 30
Page 5 and 6: Chairman’s Statement Roy Brown Ch
Page 7: terms. In December we were also abl
Page 11 and 12: Powder Metallurgy Powder Metallurgy
Page 13 and 14: OffHighway GKN OffHighway designs,
Page 15 and 16: trading profit improved further as
Page 17 and 18: GKN Driveline GKN Driveline is the
Page 19 and 20: Powder Metallurgy Powder Metallurgy
Page 21 and 22: Aerospace Aerospace is a global fir
Page 23 and 24: Capital expenditure on tangible ass
Page 25 and 26: Financial performance Corporate cos
Page 27 and 28: Cash flow* from continuing operatio
Page 29 and 30: Capital structure Rights issue rais
Page 31 and 32: 2009 performance Five year record M
Page 33 and 34: Operational risks continued Risk Na
Page 35 and 36: Conducting our business with integr
Page 37 and 38: discrimination and from any form of
Page 39 and 40: economy and thereby reduce CO 2 emi
Page 41 and 42: www.gkn.com 2009 marked the 250th a
Page 43 and 44: 6 7 8 9 10 6 Richard Parry-Jones, C
Page 45 and 46: Annual General Meeting The Annual G
Page 47 and 48: Corporate Governance In accordance
Page 49 and 50: The Chairman offers major sharehold
Page 51 and 52: The Group’s systems and procedure
Page 53 and 54: The Committee receives annual confi
Page 55 and 56: Executive Directors Remuneration po
Page 57 and 58: Following shareholder approval, a n
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External appointments The Board rec
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www.gkn.com Directors’ remunerati
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ESOS www.gkn.com Options over GKN s
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Statement of Directors’ Responsib
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Independent Auditors’ Report to t
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Consolidated Statement of Comprehen
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Consolidated Balance Sheet At 31 De
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Notes to the Financial Statements F
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1 Accounting policies and presentat
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2 Segmental analysis continued (c)
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3 Operating profit The analysis of
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3 Operating profit continued 2008 R
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4 Net financing costs www.gkn.com 2
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5 Taxation continued www.gkn.com 20
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5 Taxation continued www.gkn.com (f
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9 Dividends www.gkn.com Paid or pro
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11 Share-based payments www.gkn.com
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12 Goodwill and other intangible as
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12 Goodwill and other intangible as
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14 Investments in joint ventures ww
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17 Trade and other receivables www.
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19 Net borrowings continued (b) Fai
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20 Financial risk management contin
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20 Financial risk management contin
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22 Provisions www.gkn.com Legal and
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23 Share capital continued www.gkn.
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www.gkn.com 26 Post-employment obli
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26 Post-employment obligations cont
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26 Post-employment obligations cont
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Independent Auditors’ Report to t
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Notes to the Financial Statements o
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Group Financial Record www.gkn.com
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Aerospace Europe Composite Technolo
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Taxation www.gkn.com In July 2009,
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Contact Details GKN plc PO Box 55 I
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Annual Report 2009 in PDF - GKN

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