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Five Year Summary

Source: Extract from Annual Report 2007

2007
IFRS
£m 		2006
IFRS
£m 		2005
IFRS
£m 		2004
IFRS
£m 		2003
UK GAAP1
£m
Income statement2,3,4,5,6          
Sales including Group’s share of equity accounted investments          
Electronics, Intelligence & Support 3,916 4,007 3,697 3,063 –
Land & Armaments 3,538 2,115 1,270 482 –
Programmes & Support 5,327 4,615 4,660 – –
International Businesses 3,359 3,428 3,138 – –
Programmes – – – 2,219 2,374
Customer Solutions & Support – – – 2,856 2,042
Integrated Systems & Partnerships – – – 2,022 –
Commercial Aerospace4 – – – – 2,904
HQ & Other Businesses 243 295 471 464 281
Avionics5 – – – – 650
North America – – – – 2,636
International Partnerships – – – – 1,685
Intra-business group sales (673) (695) (655) (417) –
  15,710 13,765 12,581 10,689 12,572
EBITA7          
Electronics, Intelligence & Support 429 429 324 256 –
Land & Armaments 312 168 42 (8) –
Programmes & Support 456 342 261 – –
International Businesses 435 415 400 – –
Programmes – – – 10 56
Customer Solutions & Support – – – 497 411
Integrated Systems & Partnerships – – – 95 –
Commercial Aerospace4 – – – – 204
HQ & Other Businesses (155) (147) (118) (50) –
Avionics5 – – – – 12
North America – – – – 232
International Partnerships – – – – 65
1,477 1,207 909 800 980
Amortisation and impairment of intangible assets (297) (139) (122) (110) (518)
Exceptional items (UK GAAP only) (9)
Finance costs including share of equity accounted investments 93 (174) (196) (132) (220)
Profit before taxation 1,273 894 591 558 233
Taxation expense including share of equity accounted investments (373) (248) (147) (219) (225)
Profit for the year from continuing operations 900 646 444 339 8
Profit/(loss) for the year from discontinued operations 22 993 111 (336) –
Profit for the year 922 1,639 555 3 8
Balance sheet          
Intangible assets 9,559 7,595 8,217 6,115 6,000
Property, plant and equipment, and investment property 1,887 1,869 1,922 1,901 1,699
Non-current investments 787 678 1,730 1,535 1,710
Inventories 701 395 485 498 775
Payables (excluding cash on customers’ account) less receivables (5,373) (4,298) (4,596) (3,891) (3,126)
Other financial assets and liabilities 52 6 (7) – –
Retirement benefit obligations (1,629) (2,499) (4,101) (3,210) 362
Provisions (809) (695) (718) (491) (749)
Net tax 63 648 1,012 876 (195)
Net cash/(debt) 700 435 (1,277) (668) (870)
Disposal groups held for sale 64 – 137 – –
Minority interests (36) (17) (16) (10) (15)
Total equity attributable to equity holders of the parent 5,966 4,117 2,788 2,655 5,591
Movement in net cash/(debt) as defined by the Group          
Cash flow from operating activities 2,162 778 2,099 2,350 836
Net capital expenditure8 (262) (141) (250) (285) (248)
Dividends from equity accounted investments 78 145 88 69 37
Operating business cash flow 1,978 782 1,937 2,134 625
Acquisitions and disposals (2,112) 1,330 (1,836) (630) (62)
Finance costs (65) (207) (152) (179) (117)
Tax and dividends (509) (431) (342) (312) (227)
Other non-cash movements 57 (11) (52) 9 121
Issue/(purchase) of equity shares 603 (71) 373 – –
Preference share conversion 245 6 – – –
Exchange movements 36 323 (219) 129 72
Net increase/(decrease) in net funds 233 1,721 (291) 1,151 412
Movement in cash on customers’ account 32 (9) (35) (13) 16
Movement in net cash/(debt) 265 1,712 (326) 1,138 428
Opening net cash/(debt) 435 (1,277) (668) (870) (1,298)
Impact of IFRS adoption – – (283) (936) –
Closing net cash/(debt) 700 435 (1,277) (668) (870)

Other information
 2007 2006 2005 2004 2003
Basic earnings/(loss) per share – total 26.6p 50.7p 17.4p (0.6)p (0.5)p
Basic earnings per share – underlying9 31.0p 23.8p 18.4p 13.6p 16.6p
Dividend per ordinary share 12.8p 11.3p 10.3p 9.5p 9.2p
Number of employees, excluding share of employees of equity accounted investments,
at year end
88,000
79,000
80,000
73,300
68,400
Capital expenditure including leased assets £341m £538m £347m £359m £243m
Order book including the Group’s share of equity accounted investments £38.6bn £31.7bn £30.8bn £29.5bn £46.0bn

1 for the year ended 31 December 2003, the information is presented on a UK GAAP basis
2 for the year ended 31 December 2003, the business group information presented under UK GAAP has not been restated to reflect the changes made to the business groups in 2005, 2006 and 2007
3 for the year ended 31 December 2004, the business group information presented under IFRS has not been restated to reflect the changes made to the business groups in 2005, 2006 and 2007
4 for the years ended 31 December 2004 to 2006, Airbus SAS is presented as a discontinued operation under IFRS and the remaining Commercial Aerospace business group is reported within HQ & Other Businesses
5 for the years ended 31 December 2004 and 2005, the Avionics business group is presented as a discontinued operation under IFRS
6 for the years ended 31 December 2005 and 2006, the business group information presented under IFRS has been restated to reflect changes made to the Group’s organisational structure
7 for the years ended 31 December 2004 to 2007, this is defined as earnings before amortisation and impairment of intangible assets, finance costs and taxation expense. For the year ended 31 December 2003, this is defined as profit before interest and tax, excluding goodwill amortisation and impairment, and exceptional items.
8 includes expenditure on property, plant and equipment, investment property, intangible assets and other investments
9 for IFRS, underlying earnings is presented for continuing operations after adjusting for amortisation and impairment of intangible assets, non-cash finance movements on pensions and financial derivatives, and uplift on acquired inventories. For UK GAAP, underlying earnings is presented after adjusting for goodwill amortisation and impairment, and exceptional items.

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