Carphone Warehouse 2008 Annual Report Download - page 61

Download and view the complete annual report

Please find page 61 of the 2008 Carphone Warehouse annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 94

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94

www.cpwplc.com 49
2 Segmental reporting
Divisional results are analysed as follows:
2008 2007
PLC costs and PLC costs and
Distribution UK Fixed Line eliminations Group Distribution UK Fixed Line eliminations Group
Revenue 3,116.2 1,399.6 (41.4) 4,474.4 2,917.8 1,084.3 (10.6) 3,991.5
Headline EBITDA 276.8 225.6 (36.2) 466.2 262.5 68.7 (37.2) 294.0
Depreciation (47.2) (33.9) – (81.1) (43.2) (22.7) – (65.9)
Amortisation of operating intangibles (54.6) (66.1) – (120.7) (42.4) (26.3) – (68.7)
Share of results of joint ventures
and associates ––(6.1) (6.1) ––(9.9) (9.9)
Headline EBIT 175.0 125.6 (42.3) 258.3 176.9 19.7 (47.1) 149.5
Amortisation of acquisition intangibles – (75.2) – (75.2) – (54.3) – (54.3)
Goodwill expense (1.0) ––(1.0) (0.5) ––(0.5)
Reorganisation costs – (15.2) – (15.2) ––––
Statutory EBIT (Segment results) 174.0 35.2 (42.3) 166.9 176.4 (34.6) (47.1) 94.7
The Group previously presented primary segments of Distribution, Telecoms Services and Dealer. From the start of the current period, the Group moved
to the divisional presentation above, for both internal and external reporting purposes. The comparative period has been restated to reflect the new
divisional structure. A description of the business and geographic segments is included in the Business Review on pages 7 to 25. PLC costs represent
central costs which are not attributable to either Distribution or UK Fixed Line.
Transactions between divisions are on an arm’s length basis.
Analysis of divisional revenue is as follows:
2008 2007
£m £m
Distribution
Retail (including Online) 2,121.6 1,922.1
Insurance 169.9 137.0
Ongoing 88.6 71.7
Mobile 518.2 504.8
Non-UK Fixed Line 98.4 111.6
Dealer 180.6 209.7
Eliminations (61.1) (39.1)
3,116.2 2,917.8
UK Fixed Line
Residential 1,087.6 764.4
Business 312.0 319.9
1,399.6 1,084.3
Divisional assets, liabilities and capital expenditure are analysed as follows:
2008 2007
Distribution UK Fixed Line Unallocated Group Distribution UK Fixed Line Unallocated Group
Assets 1,662.9 1,065.1 160.5 2,888.5 1,459.5 963.1 151.4 2,574.0
Liabilities (749.3) (455.2) (949.0) (2,153.5) (716.1) (402.7) (765.6) (1,884.4)
Net assets 913.6 609.9 (788.5) 735.0 743.4 560.4 (614.2) 689.6
Capital expenditure* 151.9 279.6 7.0 438.5 147.8 154.1 14.9 316.8
*Includes expenditure on property, plant and equipment and operating intangible assets.
Unallocated assets and liabilities relate principally to deferred tax, current tax, investments, loans and other borrowings, and freehold properties.
Financial Statements