Rexam PLC Annual Report 2011

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18 Rexam annual report 2011 directors’ report market review market characteristics by numbers This section looks at some of the important market characteristics and factors that are acknowledged growth drivers for the consumer packaging market across a number of our end markets. These drivers include GDP per capita and age demographics, as well as specific ones such as off trade or at home consumption, which is pertinent to our beverage cans business, and average life expectancy which has an impact on the healthcare product market. A fuller description of global market trends and influences can be found in ‘packaging unwrapped’, a detailed report on global trends in consumer packaging which we published in mid 2011. Europe Rexam on the map Austria Czech R Denmark France Germany Ireland Italy Netherlands Poland Russia Our plants – beverage cans 2 1 1 1 3 1 2 – – 3 Our plants – plastic packaging – – – 6 1 – – 1 1 – macro facts in our markets Population (millions) 8.4 10.5 5.5 63.2 81.4 4.6 60.6 16.7 38.1 142.4 Population over the age of 65 (%) 18 16 17 17 21 12 20 16 14 13 GDP per capita (US$’000) 41.8 25.9 37.7 35.0 37.9 39.5 30.2 42.3 20.1 16.7 Real GDP growth 2011/12E (%) 0.9 0.7 1.4 0.2 0.3 1.1 -2.2 0.5 2.5 3.3 beverages Can consumption per capita (cans) 97 19 221** 62 13 91 39 104 102 32 Can share (unit volume) – soft drinks (%) 16 4 25 18 2 19 9 22 8 6 Can share (unit volume) – beer (%) 26 7 61 22 2 49 22 25 48 25 Off trade beer consumption 2010 (%) 63 52 78 78 78 34 61 71 72 91 Beverage can recycling share 2009 (%) 50 47 87 40 91 50 53 85 67 75 healthcare Average life expectancy (years) 80 77 79 81 80 80 82 81 76 66 Total exp. on health per capita 2008/9 (US$’000) 4.3 2.1 4.3 4.0 4.2 3.8 3.1 4.9 1.4 1.0 OTC medicine expenditure per capita (US$) 106 98 63 81 110 116 71 67 80 n/a personal care and household care Total exp. on colour cosmetics per capita (US$) 36.9 17.7 34.1 30.1 23.7 28.2 24.2 28.0 10.6 11.3 Beauty and personal care – premium share (%) 14 6 35 41 22 25 33 29 10 14 Rigid plastic share – PC/HC packaging (%) 63 52 63 63 63 64 72 66 59 50 All figures based on 2011, except where indicated. Financial data uses average currency exchange rates, except for GDP per capita which uses purchasing power parities sourced from the IMF Economic Indicators in September 2011. * Associate or joint venture. ** Includes cross border trade.
packaging unwrapped Under the title ‘packaging unwrapped’, this Rexam report published in 2011 looks at the global trends in consumer packaging and the key growth drivers in mature and developing markets around the world. The report can be viewed and downloaded on www.rexam.com or ordered from our corporate affairs department. Americas Asia/Middle East &Africa Spain Sweden Turkey UK Argentina Brazil Chile Guatemala Mexico US China India Indonesia S. Korea Egypt 2 1 1 2 1 9 1 1* 1 15 1 1 – 1* 1 – – – – – 1 – – 2 13 4 1 1 – – 46.1 9.4 72.2 62.6 40.9 194.9 17.4 14.7 109.7 312.9 1,348.1 1,206.9 240.5 49.0 79.4 17 20 6 17 11 7 10 4 7 13 9 6 6 11 5 30.6 40.6 14.6 36.0 17.4 11.8 16.2 5.0 15.1 48.1 8.4 3.7 4.7 31.8 6.5 -1.7 1.4 3.0 0.6 4.6 3.0 4.7 3.0 3.5 1.8 8.2 7.0 6.3 4.4 1.8 153 119 23 124 13 109 55 40 86 337 19 1 4 119 10 26 23 11 25 1 20 5 20 9 43 18 1 2 44 7 40 80 31 53 20 52 58 15 38 57 8 17 25 43 50 52 81 71 48 85 47 74 n/a 79 79 79 69 44 53 40 57 91 75 52 91 97 65 n/a 50 54 99 n/a n/a n/a n/a 81 81 73 80 77 73 78 71 77 78 75 67 72 79 73 3.1 3.7 0.9 3.5 1.1 0.9 1.2 0.3 0.9 8.0 0.3 0.1 0.1 1.9 0.3 53 53 22 78 9 21 14 n/a 18 94 8 2 7 56 9 18.8 49.8 4.4 31.9 4.0 10.9 8.1 n/a 7.4 20.1 1.0 0.2 0.4 16.5 1.3 30 25 7 31 10 2 9 7 8 33 18 5 n/a n/a n/a 72 70 63 59 40 46 51 n/a 45 67 40 16 n/a n/a n/a 19 overview financial statements governance sustainability business review
Page 1 and 2: annual report 2011
Page 3 and 4: directors’ report overview Our ch
Page 5 and 6: Our chairman introduces the 2011 an
Page 7 and 8: During 2011, I announced my retirem
Page 9 and 10: what we make beverage cans Rexam Be
Page 11 and 12: how we performed in 2011 2011 resul
Page 13 and 14: Our chief executive outlines how we
Page 15 and 16: good progress on asset utilisation
Page 17 and 18: key performance indicators These ke
Page 19: Cans are expanding into new segment
Page 23 and 24: everage can Europe & Asia The Europ
Page 25 and 26: Rexam has around 60% of the Brazili
Page 27 and 28: alancing returns and growth Surplus
Page 29 and 30: 2010 Underlying business performanc
Page 31 and 32: tax The tax charge for the year on
Page 33 and 34: The retirement benefit obligations
Page 35 and 36: Net borrowings include interest acc
Page 37 and 38: isk assessment The next stage invol
Page 39 and 40: summary of key Group risks Set out
Page 41 and 42: isk description key mitigation Coun
Page 43 and 44: isk description key mitigation Supp
Page 45 and 46: This section provides a review of o
Page 47 and 48: For plastics, we recognise that fos
Page 49 and 50: we will meet long term environmenta
Page 51 and 52: we will reduce our waste to landfil
Page 53 and 54: we will ensure our actions/interact
Page 55 and 56: We introduce our board and explain
Page 57 and 58: non executive directors Noreen Doyl
Page 59 and 60: schedule of matters reserved for th
Page 61 and 62: length of service of non executive
Page 63 and 64: Leo Oosterveer joined the board as
Page 65 and 66: accountability During 2011 the audi
Page 67 and 68: procedures and controls There are f
Page 69 and 70: whistle blowing policy Rexam has an
Page 71 and 72:
emuneration report strategy and foc
Page 73 and 74:
Following the annual remuneration r
Page 75 and 76:
EPS performance will be measured by
Page 77 and 78:
executive directors’ contracts of
Page 79 and 80:
directors’ remuneration (audited
Page 81 and 82:
Long Term Incentive Plan 2007 (2007
Page 83 and 84:
other disclosures The annual report
Page 85 and 86:
At 31 December 2011 the debt facili
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86 independent auditors’ report t
Page 89 and 90:
consolidated income statement For t
Page 91 and 92:
consolidated balance sheet As at 31
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consolidated statement of changes i
Page 95 and 96:
1 principal accounting policies con
Page 97 and 98:
Page 99 and 100:
Page 101 and 102:
2 segment analysis continued Share
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4 employee costs and numbers (i) em
Page 105 and 106:
7 interest continued An analysis of
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9 earnings/(loss) per share (i) bas
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10 discontinued operations continue
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13 other intangible assets Computer
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15 investments in subsidiaries The
Page 115 and 116:
19 inventories Raw materials, store
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22 assets and liabilities classifie
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25 net borrowings Net borrowings at
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26 financial instruments continued
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27 retirement benefit obligations (
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27 retirement benefit obligations c
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27 retirement benefit obligations c
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31 share based payment (i) summary
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32 reconciliation of profit/(loss)
Page 137 and 138:
company financial statements 136 in
Page 139 and 140:
Rexam PLC balance sheet As at 31 De
Page 141 and 142:
Page 143 and 144:
6 debtors receivable within one yea
Page 145 and 146:
12 capital and reserves Ordinary sh
Page 147 and 148:
addresses registered office and hea
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Rexam PLC Annual Report 2011

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