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Investor Relations
10 Year Summary



1995-1998 | 1999-2004 | 2004-2008

(Figures prepared in accordance with Irish GAAP)

1995
1996
1997
1998
€m
€m
€m
€m
Turnover including share of joint ventures
2,427
3,202
4,080
5,034
Group operating profit
224
283
349
442
Goodwill amortisation
-
-
-
(1)
Profit on disposal of fixed assets
1
1
9
11
Exceptional items
-
-
-
-
Profit on ordinary activities before interest
225
284
358
452
Net interest payable
(21)
(28)
(36)
(43)
Profit on ordinary activities before taxation
204
256
322
409
Tax on profit on ordinary activities
(42)
(58)
(76)
(100)
Tax on exceptional items
-
-
-
-
Profit on ordinary activities after tax
162
198
246
309
Employment of capital
Fixed assets
- Tangible assets
895
1,236
1,519
2,288
- Intangible asset - goodwill
-
-
-
138
- Financial assets
118
127
132
53
Net working capital
133
255
313
512
Other liabilities
(13)
(25)
(61)
(286)
Total
1,133
1,593
1,903
2,705
Financed as follows
Equity shareholders' funds
868
1,056
1,308
1,553
Preference share capital
1
1
1
1
Minority shareholders’ equity interest
12
13
14
285
Capital grants
12
11
11
20
Deferred tax
49
70
104
116
Net debt
189
442
465
730
Convertible capital bonds
2
-
-
-
1,133
1,593
1,903
2,705
Purchase of tangible assets
109
150
147
232
Acquisitions and investments
164
532
241
604
Total
273
682
388
836
Depreciation and goodwill amortisation
81
104
129
166
Earnings per share after goodwill amortisation (cent)
41.1
48.7
58.1
72.1
Earnings per share before goodwill amortisation (cent)
41.1
48.7
58.1
72.4
Dividend per share (cent)
10.52
11.80
13.54
15.61
Cash earnings per share (cent)
62.0
74.4
88.9
111.2
Dividend cover (times)
3.87
4.02
4.27
4.59

Notes to Irish GAAP financial summary data

(a) Excluding bank advances and cash and liquid investments which are included under net debt (see note (c) below).
(b) Including deferred and contingent acquisition consideration due after more than one year and provisions for liabilities and charges and excluding deferred tax.
(c) Net debt represents the sum of loans (including finance leases) and overdrafts falling due within one year, bank loans (including finance leases) falling due after more than one year less cash and liquid investments.
(d) Including supplemental interest.
(e) Excluding exceptional net gains in 1999.
(f) Cash earnings per share equals the sum of profit for the year attributable to ordinary shareholders, depreciation and goodwill amortisation divided by the average number of Ordinary Shares outstanding for the year.





1995-1998 | 1999-2004 | 2004-2008

(Figures prepared in accordance with Irish GAAP)

1999
2000
2001
2002
2003
2004
€m
€m
€m
€m
€m
€m
Turnover, including share of joint ventures
6,599
8,702
10,207
10,517
10,774
12,280
Group operating profit
676
919
1,020
1,049
1,046
1,247
Goodwill amortisation
(19)
(44)
(61)
(70)
(76)
(101)
Profit on disposal of fixed assets
7
13
17
16
13
11
Exceptional items
64
-
-
-
-
-
Profit on ordinary activities before interest
728
888
976
995
983
1,157
Net interest payable (93) (191) (173) (139) (118) (140)
Profit on ordinary activities before taxation
635
697
803
856
865
1,017
Tax on profit on ordinary activities
(152)
(194)
(217)
(227)
(218)
(247)
Tax on exceptional items
(26)
-
-
-
-
-
Profit on ordinary activities after tax
457
503
586
629
647
770
Employment of capital
Fixed assets
- Tangible assets
3,226
4,551
5,150
5,004
5,145
5,320
- Intangible asset - goodwill
629
955
1,153
1,154
1,475
1,443
- Financial assets
66
104
316
275
349
702
Net working capital (a)
608
915
1,040
1,078
1,116
1,244
Other liabilities (b)
(430)
(470)
(479)
(443)
(429)
(429)
Total
4,099
6,055
7,180
7,068
7,656
8,280
Financed as follows
Equity shareholders' funds
2,201
3,074
4,734
4,747
4,758
5,217
Preference share capital
1
1
1
1
1
1
Minority shareholders’ equity interest
37
36
135
111
90
82
Capital grants
19
17
16
14
13
11
Deferred tax
172
307
400
485
486
528
Net debt (c)
1,669
2,620
1,894
1,710
2,308
2,441
Convertible capital bonds (d)
-
-
-
-
-
-
4,099
6,055
7,180
7,068
7,656
8,280
Purchase of tangible assets
360
430
452
367
402
520
Acquisitions and investments
1,421
1,605
1,080
992
1,615
922
Total
1,781
2,035
1,532
1,359
2,017
1,442
Depreciation and goodwill amortisation
275
395
497
526
534
596
Earnings per share after goodwill amortisation (cent) (e)
97.0
113.8
115.3
119.2
121.9
143.9
Earnings per share before goodwill amortisation (cent) (e)
101.6
123.8
127.3
132.5
136.2
163.1
Dividend per share (cent)
18.22
20.77
23.00
25.40
28.10
33.00
Cash earnings per share (cent) (f)
161.2
204.1
213.7
219.8
223.4
256.4
Dividend cover (times) (e)
5.29
5.34
4.85
4.68
4.32
4.34

Notes to IFRS financial summary data

(a) Excluding bank advances and cash and liquid investments which are included under net debt (see note (c) below).
(b) Including deferred and contingent acquisition consideration due after more than one year and provisions for liabilities and charges and excluding deferred tax.
(c) Net debt represents the sum of loans (including finance leases) and overdrafts falling due within one year, bank loans (including finance leases) falling due after more than one year less cash and liquid investments.
(d) Including supplemental interest.
(e) Excluding exceptional net gains in 1999.
(f) Cash earnings per share equals the sum of profit for the year attributable to ordinary shareholders, depreciation and goodwill amortisation divided by the average number of Ordinary Shares outstanding for the year.





1995-1998 | 1999-2004 | 2004-2008

(Figures prepared in accordance with IFRS)

Restated
2004
2005
2006
2007 2008
€m
€m
€m €m €m
Revenue
12,755
14,449
18,737 20,992 20,887
Group operating profit
1,220
1,392
1,767 2,086 1,841
Profit on disposal of fixed assets
11
20
40 57 69
Profit before finance costs
1,231
1,412
1,807 2,143 1,910
Finance costs (net)
(146)
(159)
(252) (303) (503)
Finance revenue 118 138 155 170 160
Group share of associates’ profit after tax
19
26
47 64 61
Profit before tax
1,104
1,279
1,602 1,904 1,628
Income tax expense
(232)
(273)
(378) (466) (366)
Group profit for the financial year
872
1,006 1,224
1,438 1,262
Employment of capital
Non-current and current assets
Property, plant and equipment
5,831
6,824
7,480 8,226 8,888
Intangible assets
1,774
2,252
2,966 3,692 4,108
Investments in associates/other financial assets
292
635
651 652 870
Net working capital
1,540
1,944
2,420 2,469 2,650
Other liabilities – current and non-current
(1,035)
(1,243)
(1,099) (869) (1,126)
Total
8,402
10,412 12,418
14,170 15,390
Financed as follows
Capital and reserves excluding preference share capital
4,944
6,194
7,062 7,953 8,086
Preference share capital
1
1
1 1 1
Minority interest
34
39
41 66 70
Capital grants
13
12
10 11 14
Net deferred income tax liability
652
718
812 976 1,128
Net debt
2,758
3,448
4,492 5,163 6,091
Total
8,402
10,412 12,418
14,170 15,390
Purchase of property, plant and equipment
551
652
832 1,028 1,039
Acquisition of subsidiaries and joint ventures
1,019
1,298
2,311 2,227 1,072
Total
1,570
1,950 3,143
3,255 2,111
Depreciation of property, plant and equipment
516
556
664 739 781
Amortisation of intangible assets
4
9
25 35 43
Earnings per share after amortisation of intangible assets (cent)
163.6
186.7
224.3 262.7 233.1
Earnings per share before amortisation of intangible assets (cent)
164.3
188.5
229.0 269.2 241.1
Dividend per share (cent)
33.00
39.00
52.00 68.00 69.00
Cash earnings per share (cent)
261.8
292.5
352.1 404.9 386.9
Dividend cover (times)
4.96
4.79
4.31 3.86 3.38

Notes to IFRS financial summary data

(g) Represents the sum of inventories and trade and other receivables (included in current assets) less trade and other payables (included in current liabilities).
(h) Represents the sum of current income tax liabilities, current and non-current provisions for liabilities, non-current trade and other payables and retirement benefit obligations.
(i) Represents the sum of current and non-current interest-bearing loans and borrowings and derivative financial instruments liabilities less the sum of liquid investments, cash and cash equivalents and current and non-current derivative financial instruments assets.
(j) Cash earnings per share represents profit attributable to equity holders of the Company less preference dividends paid plus depreciation of property, plant and equipment and amortisation of intangible assets divided by the average number of Ordinary Shares outstanding for the year.
(k) Represents earnings per Ordinary Share divided by dividends per Ordinary Share.



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