GPG Group and Coats plc

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G P G – M O V E M E N T S I N S H A R E H O L D E R S ’ F U N D SGPG Group movements in shareholders’ funds£m £mOpening shareholders' funds 602Shareholder returns – Share buyback (25)Loss for the periodEC Fine, including related interest (76)Other profits 73(3)Movements in unrealised gains reserveNet gains realised in the period (recycled through the Income Statement) (39)Net unrealised movements on AFS investments (14)Deferred tax movement 3(50)Pensions - IAS19 adjustmentsGPG schemes (17)Coats (23)(40)Foreign currency revaluationsCoats (8)Other– arising in the period 3Other– re-cycled to the Income Statement (45)(50)Closing shareholders' funds 434NZ$852m© GPG Group and Coats plc | Financial results for year ending 31 December 2012 Page 10
Group G P G P E Nemployee S I O N S C H E MbenefitsE A N A LY S I S• Movement in the IAS19 deficits since the 2011 year end includesthe impact of changes in the discount rate applied to the schemeliabilities (based on AA rated corporate bond interest rates) and therate of inflation applicable to those liabilities• It is anticipated, when the Coats 2012 valuation is finalised, thatcontributions in respect of past service will increase byapproximately £7m per annum to some £14m per annum• Current support provisions provide the Trustees of the Brunel andStaveley Schemes with a contingent claim over the assets of GPGof some £124m (NZ$243m)• Will likely mean at least £124m (NZ$243m) of asset realisationproceeds will be required to be retained by the GPG group• During 2012 the Staveley April 2011 triennial valuation was agreedwith the Trustee, concluding with a deficit of £20.3m. This alsoresulted in:‒ a one-off payment of £5m and monthly contributions over aneight year period of £0.11m commencing in July 2012(£1.3m per annum); and‒ A formal mechanism to protect the net assets of the sponsorcompany• No past service employer contributions are being made to theBrunel pension scheme, however, the Trustee and GPG arediscussing the continuing form of support for that scheme.IAS19 deficit31 Dec2012£m31 Dec2011£mCoats UK (161) (161)Coats Other (46) (40)Coats Total (207) (201)Brunel (38) (31)Staveley (36) (34)Total £m (281) (266)Total NZ$m (551) (522)• Next triennial valuations:‒ Coats: to be completed by June 2013‒ Brunel: to be completed by June 2014‒ Staveley: to be completed by July 2015• The accounting standard dealing with employeebenefits (IAS19) has been revised and will beadopted from 1 January 2013. Had the amendedIAS19 been applied in 2012 the estimated full yeareffect would have been :-‒ a reduction in operating profit of £5m‒ an increase in net interest costs of £22m‒ a corresponding improvement of £27m in theactuarial loss arising within reserves• There will be no impact on the Group’s net definedbenefit obligation or cash flow© GPG Group and Coats plc | Financial results for year ending 31 December 2012 Page 11
Page 1 and 2: GPG Group and Coats plcResults pres
Page 3 and 4: Agenda1. GPG Group strategy update2
Page 5 and 6: Strategy update• GPG will be re-l
Page 7 and 8: GPG Group results highlightsGPG tot
Page 9: GPG G P G - Ssimplified I M P L I F
Page 13 and 14: Summary andFinancial Performance
Page 15 and 16: Full year financial performance$'m2
Page 17 and 18: Industrial performanceAsia & Austra
Page 19 and 20: Income statement• Exceptional ite
Page 22 and 23: Cash flow and leverageCash flow (be
Page 24 and 25: Group sales in 2012Three discrete s
Page 26 and 27: Speciality overview - ‘GDP+’A h
Page 28 and 29: Global key accountsWe work with the
Page 30 and 31: Crafts - global leader with opportu
Page 32 and 33: Strategic hand of cards1234567Globa
Page 34 and 35: Prospects for 2013• Modest econom
Page 36 and 37: Value realisation strategyDisposals
Page 38 and 39: AppendicesGPG background
Page 40 and 41: Detailed pensions analysisIAS 19 ro
Page 42 and 43: Coats plc - introduction• No. 1 i
Page 44 and 45: Geographical reachCoats is ‘at ho
Page 46 and 47: Vision, goals and principlesCoats v
Page 48 and 49: Coats CraftsCoats provides consumer
Page 50 and 51: Managing responsiblyWe operate to t
Page 52 and 53: Our peopleCoats’ strength and mar
Page 54: Further informationFor moreinformat

GPG Group and Coats plc

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