Annual Report PDF - Black Sun Plc

Directors’ Report: Business Review2010 performance summary and outlookRESULTS IN BRIEFResults from continuing operations 2010Restated 12009Sales 2 KPI£22,392m £21,990mUnderlying EBITA 3 KPI£2,214m £2,197mOperating profit £1,636m £966mUnderlying earnings 4 per shareKPI40.8p 40.1pBasic earnings/(loss) per share 5 28.9p (2.3)pOrder book 6 £39.7bn £46.3bnOther results including discontinued operationsDividend per share 17.5p 16.0pCash inflow from operating activities £1,535m £2,232mNet (debt)/cash (as defined by the Group) 7 £(242)m £403mResults from continuing operationsSALES 1,2 (£BN)KPIUNDERLYING EBITA 1,3 (£M)KPI252,500201510513.415.418.122.0 22.42,0001,5001,0005001,1691,4171,8792,197 2,2140060708091000607080910UNDERLYING EARNINGS 1,4PER SHARE (PENCE)KPIOPERATING BUSINESSCASH FLOW 8 (£M)KPI502,5004030201022.929.436.840.1 40.82,0001,5001,0005007821,9781,595 1,5951,1870060708091000607080910KPIReferences Key Performance Indicators (KPIs)(see pages 16 to 19) throughout the Report.1 Restated following the sale of half of the Group’s 20.5% shareholding in Saab AB and subsequent classification asa discontinued operation.2 Including share of equity accounted investments.3 Earnings before amortisation and impairment of intangible assets, finance costs and taxation expense (EBITA) excludingnon-recurring items (see page 37).4 Earnings excluding amortisation and impairment of intangible assets, non-cash finance movements on pensions andfinancial derivatives, and non-recurring items (see note 10 to the Group accounts).5 Basic earnings/(loss) per share in accordance with International Accounting Standard 33.6 Including share of equity accounted investments’ order books and after the elimination of intra-group orders of £1.5bn(2009 £1.7bn).7 See page 39 and note 27 to the Group accounts.8 Net cash inflow from operating activities after capital expenditure (net) and financial investment, dividends fromequity accounted investments, and assets contributed to Trust.2 www.baesystems.com