12 March 2014
Siim Kaevats, Avonmore
Siim Kaevats, Avonmore
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OTHER FINANCIALS<br />
Finance costs<br />
Tax<br />
Exceptional items<br />
IAS 19<br />
€23.0m (20<strong>12</strong>: €20.4m). Average interest rate 5.1% (20<strong>12</strong>:<br />
4.6%). Increase due primarily to renegotiation of debt facilities<br />
in November 20<strong>12</strong> (previously renegotiated May 2008).<br />
€24.7m (20<strong>12</strong>: €25.5m). Effective tax rate of 17.2% (20<strong>12</strong>:<br />
18.8%). Decrease due to change in mix and geographic<br />
locations in which profits earned.<br />
€5.5m net credit comprised of (i) €13.8m credit related to<br />
revision of two DB pension schemes, (ii) €8.0m charge related to<br />
Dairy Ireland rationalisation costs, (iii) €0.3m related tax charge.<br />
20<strong>12</strong> figures restated to reflect implementation of new pension<br />
standard. 20<strong>12</strong> adjusted earnings per share increased 0.32c from<br />
51.02c to 51.34c.<br />
2013 FULL YEAR RESULTS<br />
www.glanbia.com 18
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