Annual Report 2010 in PDF - BBA Aviation

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Financial statements Consolidated Income Statement 85 Independent Auditor’s Report to the Members of BBA Aviation plc in Respect 2010 2009 of the Consolidated Financial Statements Exceptional Underlying* Items Total Exceptional Underlying* Items Total 86 Consolidated Income Statement Notes £m £m £m £m £m £m 87 Consolidated Statement of Comprehensive Income Revenue Cost of sales 1 1,183.0 (955.7) 88 Consolidated Balance Sheet Gross profit 227.3 – 227.3 205.3 – 205.3 89 Consolidated Cash Flow Statement 90 Consolidated Statement of Changes in Equity 91 Accounting Policies of the Group 95 Notes to the Consolidated – – 1,183.0 (955.7) 1,080.8 (875.5) – – 1,080.8 (875.5) Distribution costs (21.0) – (21.0) (18.3) – (18.3) Administrative expenses Other operating income Share of profit of associates Other operating expenses (0.1) (2.3) (2.4) (0.7) (8.0) (8.7) Financial Statements Restructuring costs – (4.2) (4.2) – (6.0) (6.0) Loss on disposal of businesses – – – – (0.4) (0.4) BBA Aviation plc in Respect Operating profit 1,2 110.6 (10.2) 100.4 100.5 (18.2) 82.3 126 Independent Auditor’s Report to the Members of of the Parent Company Financial Statements 127 Company Balance sheet 128 Accounting Policies of Investment income Finance costs the Company Profit before tax 95.4 (10.2) 85.2 78.2 (18.2) 60.0 129 Notes to the Company Financial Statements 3 3 (100.0) 3.3 1.1 4.2 (19.4) (3.7) – – – – (103.7) 3.3 1.1 Tax 4 (20.3) 0.1 (20.2) (17.0) 2.5 (14.5) 134 Principal Subsidiary Undertakings Profit for the period 75.1 (10.1) 65.0 61.2 (15.7) 45.5 135 Five Year Summary 136 Shareholder Information Attributable to: Equity holders of the parent 75.2 (10.1) 65.1 61.1 (13.2) 47.9 Non-controlling interest (0.1) – (0.1) 0.1 (2.5) (2.4) 75.1 (10.1) 65.0 61.2 (15.7) 45.5 86 — Consolidated Financial Statements Earnings per share Basic Diluted 6 6 Adjusted 17.6p 17.0p 4.2 (19.4) Unadjusted 15.2p 14.7p (87.6) 0.7 1.1 7.9 (30.2) Adjusted 14.6p 14.3p (3.8) – – – – (91.4) 0.7 1.1 7.9 (30.2) Unadjusted * Before exceptional items Exceptional items are items which are material or non-recurring in nature, costs relating to acquisitions and the amortisation of acquired intangibles, as set out in note 2 to the Consolidated Financial Statements. 11.4p 11.2p
Consolidated Statement of Comprehensive Income 2010 2009 £m £m Profit for the period 65.0 45.5 Other comprehensive income: Exchange difference on translation of foreign operations 22.8 (121.4) (Losses)/gains on net investment hedges (22.3) 100.6 Fair value movements in foreign exchange cash flow hedges (2.9) 6.9 Transfer to profit or loss from equity on foreign exchange cash flow hedges 3.6 5.6 Fair value movements in interest rate cash flow hedges (12.7) 0.1 Transfer to profit or loss from equity on interest rate cash flow hedges 6.7 7.7 Actuarial losses on defined benefit pension schemes (7.0) (13.4) Tax relating to components of other comprehensive income 1.3 (3.2) Total comprehensive income for the period 54.5 28.4 Attributable to: Shareholders of BBA Aviation plc 54.6 30.8 Non-controlling interests (0.1) (2.4) 54.5 28.4 Consolidated Financial Statements — 87
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Annual Report 2010
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Directors’ Report 2 Overview 2 Gr
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Group Structure Revenue by business
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Revenue Revenue increased by 4% on
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Corporate Governance The Board beli
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Michael Harper (66) Chairman Simon
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Worldwide Business Jet and Turbopro
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Commercial Aviation Our commercial
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Each of the fve businesses has a cl
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Principal Risks and Risk Potential
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Return on Invested Capital (ROIC) M
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Proft before tax increased by 42% t
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Financial Summary 2010 2009 Inc/(de
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ASIG United States of America, Cari
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Directors’ Report — 27
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Revenue 2010 2009 Inc/(dec) 20091 I
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ASIG Focused on growth 32 — Direc
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Key Facts ASIG is a world leading i
Page 38: London Heathrow: the A380 is a doub
Page 41 and 42: Financial Summary 2010 2009 Inc/(de
Page 43 and 44: Legacy Support United States of Ame
Page 45 and 46: Directors’ Report — 43
Page 47 and 48: Revenue 2010 2009 Inc/(dec) 20091 I
Page 50 and 51: Legacy Support Flexible resources m
Page 52 and 53: Key Facts Legacy Support is a leadi
Page 54 and 55: Houston, Texas: a Legacy Support st
Page 56 and 57: APPH Delivering continuous improvem
Page 58 and 59: Key Facts APPH has a niche focus an
Page 60: Runcorn, UK: a Jas39 Gripen nose la
Page 63 and 64: CSR leadership Group-wide Providing
Page 65 and 66: The Group also launched its new par
Page 67 and 68: A signifcant proportion of our debt
Page 69 and 70: Suppliers Payment Policy Substantia
Page 71 and 72: The Board has a formal schedule of
Page 73 and 74: a. Remuneration Committee Compositi
Page 75 and 76: Guidance on Audit Committees. The A
Page 77 and 78: Directors’ Remuneration Report I
Page 79 and 80: The following chart shows the balan
Page 81 and 82: d. Longer-term performance incentiv
Page 83 and 84: Annualised total shareholder return
Page 85 and 86: e. Pension: policy and implementati
Page 87: Independent Auditor’s Report to t
Page 91 and 92: Consolidated Cash Flow Statement Op
Page 93 and 94: Accounting Policies Basis of Accoun
Page 95 and 96: Property, Plant and Equipment Prope
Page 97 and 98: Notes to the Consolidated Financial
Page 99 and 100: 2. Proft for the year Proft for the
Page 101 and 102: 5. Dividends On 21 May 2010, the 20
Page 103 and 104: 8. Intangible assets - continued Th
Page 105 and 106: 10. Investments in associates Cost
Page 107 and 108: 13. Trade and other payables Amount
Page 109 and 110: 16. Bank overdraft and loans - cont
Page 111 and 112: 17. Derivative fnancial instruments
Page 117 and 118: 19. Pensions and other post-retirem
Page 119 and 120: 19. Pensions and other post-retirem
Page 121 and 122: 21. Share capital and reserves Allo
Page 123 and 124: 21. Share capital and reserves - co
Page 125 and 126: 23. Cash fow from operating activit
Page 127 and 128: 26. Related party transactions Tran
Page 129 and 130: Company Balance Sheet 2010 2009 Not
Page 131 and 132: Leases Where assets are f nanced by
Page 133 and 134: 6. Creditors: amounts falling due w
Page 135 and 136: 10. Capital and reserves Details of
Page 137 and 138: Five Year Summary 2010 2009 2008 20
Page 139 and 140:
This Annual Report is addressed sol
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Annual Report 2010 in PDF - BBA Aviation

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