Ardagh Glass Finance plc - Irish Stock Exchange

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) 2. Segmental analysis (Continued) Total assets Restated 2007 2006 E’000 E’000 Glass Manufacturing ............................................. 1,341,319 526,900 Glass Technology ............................................... 36,026 46,400 Unallocated ................................................... 21,559 46,850 1,398,904 620,150 Capital expenditure Restated 2007 2006 E’000 E’000 Glass Manufacturing ............................................. 95,548 29,271 Glass Technology ............................................... 1,401 3,327 Unallocated ................................................... 2,472 28 99,421 32,626 3. Expenses by nature 2007 2006 E’000 E’000 Depreciation and amortisation ....................................... 101,153 58,103 Amortisation of capital grants ....................................... (777) (470) Changes in inventories of finished goods and work in progress ................ (16,729) (15,876) Freight ........................................................ 56,740 39,022 Secondary processing .............................................. 14,701 13,082 Variable production cost ........................................... 269,558 188,312 Fixed production cost ............................................. 359,786 239,649 Production cost non-glass .......................................... 64,054 62,031 Warehousing .................................................... 39,694 40,665 Stock revaluation ................................................ 15,184 (6,342) Ware purchases—third parties ....................................... 74 67 Research and development ......................................... — 2,894 Other ......................................................... 55,551 31,944 Total cost of sales, sales, general and administration expenses ................ 958,989 653,081 Average number of employees Production ..................................................... 5,594 2,922 Administration .................................................. 786 549 6,380 3,471 F-85
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) 4. Employee benefit expense 2007 2006 E’000 E’000 Wages and salaries ............................................... 189,654 111,447 Social security costs ............................................... 25,672 13,906 Pension costs ................................................... 9,113 9,525 Termination benefits .............................................. 8,786 7,163 233,225 142,041 5. Other income and expenses 2007 2006 E’000 E’000 Non trade related legal costs .......................................... — (1,209) Termination benefits ................................................ (8,786) (7,163) Profit on disposal of property, plant & equipment .......................... — 47 Impairment of property, plant & equipment ............................... — (1,909) Other ........................................................... (128) (211) Settlement gain on pension ........................................... — 19,269 (8,914) 8,824 6. Finance income and expense 2007 2006 E’000 E’000 Interest expense —8 7 ⁄8% Senior Notes due 2013 ........................................ 16,963 16,918 —7.125% Senior Notes due 2017 ...................................... 13,145 — —Bank loans, overdrafts and revolving credit facilities ....................... 20,903 6,794 —Invoice discounting facilities ........................................ 2,645 2,559 —Finance leases .................................................. 2,658 3,010 —Interest cost on pension plan liabilities ................................. 11,987 8,508 —Foreign exchange losses ............................................ 1,376 — Finance costs ..................................................... 69,677 37,789 2007 2006 E’000 E’000 Interest income —Short term bank deposits ........................................... 3,164 1,730 —Expected return on plan assets ...................................... 13,483 9,667 Finance income ................................................... 16,647 11,397 F-86
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OFFERING MEMORANDUM—LISTING PARTI
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IMPORTANT INFORMATION This Offering
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NOTICE TO EEA INVESTORS This Offeri
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NOTES ON DEFINED TERMS USED IN THIS
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PRESENTATION OF FINANCIAL AND OTHER
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The 2007 Pro Forma Financial Inform
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EXCHANGE RATES Exchange Rate Betwee
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Exchange Rate Between the Euro and
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Exchange Rate Between the Euro and
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Ardagh Glass Engineering Ardagh Gla
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• Continue to Apply Advanced Tech
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As at September 30, 2009, after giv
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• be effectively subordinated to
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Use of Proceeds ................ Tr
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Unaudited Nine months ended and as
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The reconciliation of operating pro
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Our credit facilities contain finan
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Facility, causing all the debt unde
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An active trading market may not de
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its hedging arrangements. As at Sep
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• issued such Guarantee in a situ
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will continue to be preferred by ou
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We are subject to various environme
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Changes in laws and regulations rel
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the twelve months ended September 3
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Coulson is Chairman of the board of
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CAPITALIZATION The following table
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Unaudited Nine months ended and as
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UNAUDITED SUPPLEMENTAL INFORMATION
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OPERATING AND FINANCIAL REVIEW AND
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Acquisition of Busch and Spreen. In
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Goodwill Goodwill represents the ex
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Operating Profit Excluding other in
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Audited Pro forma Year ended Decemb
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major drivers of the rise in gross
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Operating Results The significant i
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Historical Development The followin
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External Financings The following t
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Derivative transactions are only un
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Beverages, Diageo, and Nestlé. Ard
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has consistently focused on decreas
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The following table shows certain p
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Ardagh Glass Engineering Ardagh’s
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Key competitors by material type: P
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period. This agreement supersedes a
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Intellectual Property Glass Contain
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Asbestos is present, or may be pres
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facilities are well maintained and
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glass container industry. Heye Inte
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Board of Directors The following ta
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Internal Control and Risk Managemen
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DESCRIPTION OF OTHER INDEBTEDNESS T
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Under the Intercreditor Agreement,
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In addition, certain negative coven
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DESCRIPTION OF THE NOTES The defini
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(b) rank senior in right of payment
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etain Permitted Junior Securities a
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under the Guarantee would cause the
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of its Subsidiaries may act as payi
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to obtain such receipts, the same a
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the Issuer would be obligated to pa
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of Control could cause a default un
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or otherwise become responsible for
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principal amount that may be drawn
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Payment (or, if such aggregate cumu
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indirectly, to issue or sell, any s
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directly secured by a Lien on such
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Notwithstanding the foregoing, noth
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(e) encumbrances or restrictions co
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(ii) maintain or preserve such Pers
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Guarantor would dispose of, all or
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periods and other than by regularly
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(b) the Issuer’s obligations to i
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occurring after an Event of Default
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Indenture, the Notes or any Guarant
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‘‘Asset Sale’’ means any sa
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a share of the profits and losses,
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‘‘Consolidated Fixed Charge Cov
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Notwithstanding any of the foregoin
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otherwise require any cash payment
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or other property to others or any
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(f) Investments in the Notes and th
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(l) Liens arising by reason of any
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or associated with, any Asset Sale,
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elevant security agent in the enfor
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BOOK-ENTRY; DELIVERY AND FORM Gener
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The Global Note for Rule 144A Book-
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TAXATION Prospective purchasers of
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Encashment Tax If the Paying Agent
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Interest on the Senior Notes Paymen
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will hold Senior Notes as part of a
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amount of OID into U.S. dollars and
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LIMITATIONS ON VALIDITY AND ENFORCE
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Effect of Appointment of Examiner T
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Liability Company as General Partne
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of court by the company, its direct
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court). As a general rule, such leg
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which creditors have a right to be
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ascertain the center of main intere
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Italy Ardagh Glass S.r.l., one of t
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Fraudulent Transfer Provisions of G
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provided that no such offer of Seni
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NOTICE TO INVESTORS The Senior Note
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AND ANY APPLICABLE LOCAL LAWS AND R
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(ii) the process and decision of th
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In cases of non-compliance with or
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Recognition of Judgments in Civil a
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LISTING AND GENERAL INFORMATION 1.
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15. The consolidated non-statutory
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Place of Registration and Registrat
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Place of Registration and Registrat
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CONSOLIDATED NON-STATUTORY FINANCIA
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STATEMENT OF DIRECTORS’ RESPONSIB
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BASIS OF PREPARATION (Continued) su
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BASIS OF PREPARATION (Continued) In
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ACCOUNTING POLICIES (Continued) (v)
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ACCOUNTING POLICIES (Continued) INV
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ACCOUNTING POLICIES (Continued) to
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ACCOUNTING POLICIES (Continued) fin
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ACCOUNTING POLICIES (Continued) (ii
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CONSOLIDATED INCOME STATEMENT FOR T
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CONSOLIDATED BALANCE SHEET AS AT 31
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NOTES TO THE CONSOLIDATED FINANCIAL
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Page 255 and 256: NOTES TO THE CONSOLIDATED FINANCIAL
Page 281 and 282: INDEPENDENT AUDITORS’ REPORT TO T
Page 283 and 284: BASIS OF PREPARATION These consolid
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Page 293 and 294: ACCOUNTING POLICIES (Continued) The
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Page 297 and 298: CONSOLIDATED INCOME STATEMENT FOR T
Page 299 and 300: CONSOLIDATED BALANCE SHEET AS AT 31
Page 305: NOTES TO THE CONSOLIDATED FINANCIAL
Page 335 and 336: INTERIM UNAUDITED NON-STATUTORY GRO
Page 337 and 338: CONSOLIDATED INTERIM INCOME STATEME
Page 339 and 340: CONSOLIDATED INTERIM BALANCE SHEET
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Page 349 and 350: ISSUER Ardagh Glass Finance plc 4 R
Page 351: F180,000,000 Ardagh Glass Finance p
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Ardagh Glass Finance plc - Irish Stock Exchange

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