Source: Extract from Annual Report 2008
for the year ended 31 December
| Notes | 2008 £m |
Total 2008 £m |
2007 £m |
Total 2007 £m |
|
|---|---|---|---|---|---|
| Continuing operations | |||||
| Combined sales of Group and equity accounted investments | 3 | 18,543 | 15,710 | ||
| Less: share of sales of equity accounted investments | 3 | (1,872) | (1,401) | ||
| Revenue | 3 | 16,671 | 14,309 | ||
| Operating costs | 4 | (15,386) | (13,480) | ||
| Other income | 5 | 415 | 209 | ||
| Group operating profit excluding amortisation and impairment of intangible assets | 2,003 | 1,335 | |||
| Amortisation | 11 | (247) | (149) | ||
| Impairment | 11 | (56) | (148) | ||
| Group operating profit | 1,700 | 1,038 | |||
| Share of results of equity accounted investments excluding finance costs and taxation expense | 132 | 142 | |||
| Financial income of equity accounted investments | 44 | 35 | |||
| Taxation expense of equity accounted investments | (37) | (38) | |||
| Share of results of equity accounted investments | 14 | 139 | 139 | ||
| Impairment in respect of equity accounted investments | 14 | (121) | – | ||
| Contribution from equity accounted investments | 18 | 139 | |||
| EBITA1 excluding profit on disposal of businesses and uplift on acquired inventories | 1,897 | 1,449 | |||
| Profit on disposal of businesses2 | 9 | 238 | 40 | ||
| Uplift on acquired inventories (included in operating costs) | – | (12) | |||
| EBITA1 | 2,135 | 1,477 | |||
| Amortisation | (247) | (149) | |||
| Impairments | (177) | (148) | |||
| Financial income of equity accounted investments | 44 | 35 | |||
| Taxation expense of equity accounted investments | (37) | (38) | |||
| Operating profit | 3 | 1,718 | 1,177 | ||
| Finance costs | 6 | ||||
| Financial income | 3,380 | 1,257 | |||
| Financial expense | (2,727) | (1,199) | |||
| 653 | 58 | ||||
| Profit before taxation | 2,371 | 1,235 | |||
| Taxation expense | 8 | ||||
| UK taxation | (351) | (201) | |||
| Overseas taxation | (252) | (134) | |||
| (603) | (335) | ||||
| Profit for the year from continuing operations | 1,768 | 900 | |||
| Profit for the year from discontinued operations | 9 | – | 22 | ||
| Profit for the year | 1,768 | 922 | |||
| Attributable to: | |||||
| BAE Systems shareholders | 1,745 | 901 | |||
| Minority interests | 23 | 21 | |||
| 1,768 | 922 | ||||
| Earnings per share | 10 | ||||
| Continuing operations: | |||||
| Basic earnings per share | 49.6p | 26.0p | |||
| Diluted earnings per share | 49.5p | 25.8p | |||
| Discontinued operations: | |||||
| Basic earnings per share | – | 0.6p | |||
| Diluted earnings per share | – | 0.6p | |||
| Total: | |||||
| Basic earnings per share | 49.6p | 26.6p | |||
| Diluted earnings per share | 49.5p | 26.4p | |||
1 Earnings before amortisation and impairment of intangible assets, finance costs and taxation expense.
2 Comprises a loss of £nil in operating costs (2007 £8m) and a profit of £238m in other income (2007 £48m).
