for the years ended 31 March
|
2001
Restated
US$m |
2002
US$m |
2003#
Restated
US$m |
2004
US$m |
2005
US$m |
| Income statements |
|
|
|
|
|
| Turnover (including associates’ share) |
4,184 |
4,364 |
8,984 |
12,645 |
14,543 |
| Turnover (excluding associates’ share) |
3,624 |
3,717 |
8,167 |
11,366 |
12,901 |
| Profit before interest and taxation (including associates’ share) |
700 |
704 |
933 |
1,579 |
2,361 |
| Net interest payable |
(54) |
(98) |
(163) |
(188) |
(167) |
| Taxation |
(195) |
(208) |
(349) |
(579) |
(850) |
| Minorities |
(99) |
(105) |
(125) |
(167) |
(203) |
| Profit for the year |
352 |
293 |
296 |
645 |
1,141 |
| Adjusted earnings |
372 |
350 |
581 |
925 |
1,251 |
| |
| Balance sheets |
|
|
|
|
|
| Fixed assets |
3,667 |
4,758 |
10,431 |
11,483 |
12,287 |
| Current asset investments/cash at bank and in hand |
218 |
290 |
561 |
682 |
1,143 |
| Other current assets |
514 |
643 |
1,258 |
1,634 |
1,798 |
| Total assets |
4,399 |
5,691 |
12,250 |
13,799 |
15,228 |
| Interest bearing debt |
(1,053) |
(1,535) |
(3,523) |
(3,707) |
(3,339) |
| Other creditors and provisions |
(1,054) |
(1,102) |
(2,377) |
(3,108) |
(3,586) |
| Total liabilities |
(2,107) |
(2,637) |
(5,900) |
(6,815) |
(6,925) |
| Net assets |
2,292 |
3,054 |
6,350 |
6,984 |
8,303 |
| Shareholders’ funds |
2,006 |
2,309 |
5,572 |
6,165 |
7,665 |
| Equity minority interests |
286 |
745 |
778 |
819 |
638 |
| Capital employed |
2,292 |
3,054 |
6,350 |
6,984 |
8,303 |
| |
| Cash flow statements |
|
|
|
|
|
| EBITDA |
854 |
904 |
1,483 |
2,185 |
2,740 |
| Working capital movements |
5 |
71 |
85 |
107 |
52 |
| Net cash inflow from operating activities |
859 |
975 |
1,568 |
2,292 |
2,792 |
| Net interest and dividends |
(93) |
(158) |
(238) |
(286) |
(251) |
| Taxation |
(179) |
(179) |
(286) |
(456) |
(625) |
| |
587 |
638 |
1,044 |
1,550 |
1,916 |
| Net capital expenditure |
(331) |
(250) |
(429) |
(549) |
(738) |
| Net investments |
7 |
(49) |
(6) |
(211) |
456 |
| Net acquisition of subsidiaries and associates |
(700) |
(768) |
(54) |
(515) |
(897) |
| Net cash (shortfall)/surplus |
(437) |
(429) |
555 |
275 |
737 |
| Management of liquid resources |
64 |
19 |
44 |
(16) |
(658) |
| Net cash inflow/(outflow) from financing |
491 |
699 |
(148) |
12 |
(100) |
| Dividends paid |
(177) |
(173) |
(203) |
(309) |
(412) |
| (Decrease)/increase in cash in the year |
(59) |
116 |
248 |
(38) |
(433) |
| |
| Performance per share (US cents per share) |
|
|
|
|
|
| Basic earnings |
50.4 |
40.7 |
27.5 |
54.1 |
94.1 |
| Diluted earnings |
50.3 |
40.3 |
27.4 |
53.0 |
91.1 |
| Adjusted basic earnings |
53.3 |
48.7 |
54.0 |
77.6 |
103.2 |
| Net asset value |
258.9 |
274.6 |
438.3 |
484.4 |
569.2 |
| Share statistics |
|
|
|
|
|
| Total number of shares (million) |
775.0 |
840.9 |
1,271.2 |
1,272.7 |
1,346.5 |
| Weighted average number of shares (million) |
697.1 |
718.5 |
1,076.1 |
1,192.2 |
1,212.1 |
| Weighted average number of shares (diluted) (million) |
699.4 |
766.6 |
1,079.1 |
1,264.7 |
1,272.8 |
| Returns and productivity |
|
|
|
|
|
| Return on equity (%) |
18.5 |
15.2 |
10.4 |
15.0 |
16.3 |
| Operating margin (%) |
16.7 |
16.1 |
11.1 |
12.2 |
14.0 |
| Cash operating margin (%) |
23.6 |
24.3 |
18.4 |
19.3 |
21.2 |
| Operating return (%) |
42.6 |
37.5 |
34.9 |
44.0 |
55.6 |
| Cash operating return (%) |
22.2 |
17.9 |
13.2 |
16.7 |
18.9 |
| Group turnover per employee (US$000s) |
115.7 |
111.9 |
192.6 |
287.2 |
315.5 |
| Average monthly number of employees |
31,327 |
33,230 |
42,402 |
39,571 |
40,892 |
| Solvency and liquidity |
|
|
|
|
|
| Net interest cover (times) |
13.0 |
7.2 |
6.1 |
8.2 |
12.2 |
| Free cash flow |
349 |
496 |
755 |
1,161 |
1,825 |
| Total borrowings to total assets (%) |
23.9 |
27.0 |
28.8 |
26.9 |
21.9 |
| Cash flow to total borrowings (%) |
81.6 |
63.5 |
44.5 |
61.8 |
83.6 |
# 2003 figures have been restated to reflect the adoption of FRS 5 Reporting the substance of transactions, application note G and UITF 38. Earlier years have not been restated.
| |
Turnover |
Operating profit |
| |
2001
US$m |
2002
US$m |
2003#
Restated
US$m |
2004
US$m |
2005
US$m |
2001
US$m |
2002
US$m |
2003
US$m |
2004
US$m |
2005
US$m |
| Business segment analysis |
|
|
|
|
|
|
|
|
|
|
| North America |
– |
– |
3,408 |
4,778 |
4,892 |
– |
– |
75 |
189 |
261 |
| Central America |
– |
186 |
514 |
531 |
521 |
– |
7 |
10 |
31 |
48 |
| Europe |
1,097 |
1,280 |
1,583 |
2,420 |
2,909 |
130 |
168 |
239 |
327 |
419 |
| Africa and Asia |
700 |
946 |
1,209 |
1,555 |
1,937 |
130 |
162 |
219 |
288 |
363 |
| Beer South Africa |
1,365 |
1,112 |
1,270 |
1,964 |
2,522 |
343 |
287 |
338 |
522 |
708 |
| Other Beverage Interests |
816 |
676 |
788 |
1,171 |
1,473 |
106 |
95 |
120 |
186 |
250 |
| Hotels and Gaming |
206 |
164 |
212 |
226 |
289 |
25 |
28 |
42 |
52 |
79 |
| Central Administration |
– |
– |
– |
– |
– |
(34) |
(35) |
(44) |
(57) |
(85) |
Group – excluding
exceptional items |
4,184 |
4,364 |
8,984 |
12,645 |
14,543 |
700 |
712 |
999 |
1,538 |
2,043 |
| Exceptional items |
|
|
|
|
|
|
|
|
|
|
| North America |
– |
– |
– |
– |
– |
– |
– |
(58) |
(14) |
7 |
| Central America |
– |
– |
– |
– |
– |
– |
– |
(12) |
(6) |
– |
| Europe |
– |
– |
– |
– |
– |
– |
(8) |
– |
(6) |
(51) |
| Hotels and Gaming |
– |
– |
– |
– |
– |
– |
– |
– |
– |
(4) |
Group – including
exceptional items |
4,184 |
4,364 |
8,984 |
12,645 |
14,543 |
700 |
704 |
929 |
1,512 |
1,995 |
# 2003 turnover restated to reflect the adoption of FRS 5 Reporting the substance of transactions, application note G. Earlier years have not been restated.
| |
EBITA |
Net operating assets |
| |
2001
US$m |
2002
US$m |
2003
Restated
US$m |
2004
US$m |
2005
US$m |
2001
Restated
US$m |
2002
US$m |
2003#
Restated
US$m |
2004
US$m |
2005
US$m |
| Business segment analysis |
|
|
|
|
|
|
|
|
|
|
| North America |
– |
– |
250 |
424 |
497 |
– |
– |
5,147 |
4,726 |
4,436 |
| Central America |
– |
22 |
56 |
76 |
91 |
– |
1,135 |
1,089 |
964 |
912 |
| Europe |
148 |
198 |
275 |
383 |
483 |
1,091 |
1,253 |
1,446 |
2,109 |
2,671 |
| Africa and Asia |
132 |
171 |
233 |
306 |
384 |
472 |
728 |
866 |
1,259 |
1,296 |
| Beer South Africa |
343 |
287 |
338 |
522 |
708 |
415 |
263 |
356 |
320 |
284 |
| Other Beverage Interests |
106 |
95 |
120 |
186 |
250 |
520 |
355 |
524 |
713 |
1,167 |
| Hotels and Gaming |
25 |
28 |
42 |
53 |
81 |
159 |
140 |
167 |
219 |
266 |
| Central Administration |
(34) |
(35) |
(44) |
(57) |
(85) |
(148) |
(193) |
(283) |
(301) |
(533) |
Group – excluding
exceptional items |
720 |
766 |
1,270 |
1,893 |
2,409 |
2,509 |
3,681 |
9,312 |
10,009 |
10,499 |
| Exceptional items |
|
|
|
|
|
|
|
|
|
|
| North America |
– |
– |
(58) |
(14) |
7 |
– |
– |
– |
– |
– |
| Central America |
– |
– |
(12) |
(6) |
– |
– |
– |
– |
– |
– |
| Europe |
– |
(8) |
– |
(6) |
(51) |
– |
– |
– |
– |
– |
| Africa and Asia |
– |
– |
– |
7 |
103 |
– |
– |
– |
– |
– |
| Other Beverage Interests |
– |
– |
– |
13 |
– |
– |
– |
– |
– |
– |
| Hotels and Gaming |
– |
– |
4 |
– |
7 |
– |
– |
– |
– |
– |
| Central administration |
– |
– |
– |
47 |
252 |
– |
– |
– |
– |
– |
Group – including
exceptional items |
720 |
758 |
1,204 |
1,934 |
2,727 |
2,509 |
3,681 |
9,312 |
10,009 |
10,499 |
# Restated to reflect the adoption of UITF 38. Earlier years have not been restated.
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