(Historic) Assumptions table

2011 - 2020 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 PROMEDIO VALORES HISTORICOS

Sales growth 3.25% 1.56% -7.66% -0.89% 11.58% 9.03% -4.20% 1.07% -1.04% 1.41%
Cost of goods sold 60.11% 53.13% 52.06% 52.25% 51.53% 51.19% 50.83% 56.30% 55.99% 56.55% 53.99%
SGA Expenses 26.08% 33.28% 32.84% 31.27% 34.37% 34.01% 32.68% 25.14% 24.88% 24.98% 29.95%
Other Operating income/expense 0.31% -0.14% 1.01% 1.98% -0.66% -0.46% -1.01% 0.00% 0.00% 0.00% 0.10%
Interest rate on financial debts (short and long term) 4.35% 4.89% 4.27% 4.09% 3.85% 2.84% 2.89% 2.84% 2.43% 3.61%
Interest rate on (short/long) term investments 9.25% 9.68% 9.24% 11.00% 10.75% 15.44% 10.13% 13.08% 13.13% 11.30%
% depreciation of PPE (and impairment) 25.96% 25.98% 26.02% 27.87% 27.16% 25.73% 27.54% 20.57% 27.30% 24.05% 25.82%
Cash days
Accounts receivable days
Inventory days
Accounts payable days (Trade)
Accrued expenses/Total SGA Expenses
Capital Expenditures (CAPEX) PP&E
Capital Expenditures (CAPEX) Intangibles
Financial investments (Long-term)
Investment Property (related to PP&E)
Other non-current assets (related to sales)
Debt reduction (change) index (LT)
Change in common stocks (issuances/repurchases)
Dividend amount
Dividend payout (as a fraction of net profits)*
Depreciation (as %, related to past year)
Other current assets (related to Sales)
Prepaid expenses (growth-current asets)
Income tax payable
Other current liabilities (related to sales)
Other non-current liabilities (related to sales)

Balance Sheet - Standardized (Currency: UK Pound

Sterling)
Field Name 30-12-2011 30-12-2012 30-12-2013 30-12-2014 30-12-2015 30-12-2016 30-12-2017 30-12-2018 30-12-2019 30-12-2020 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2018 2019 2020
Current Assets
Cash & Cash Equivalents £ 2,903.15 £ 2,001.32 £ 1,897.03 £ 1,670.89 £ 1,696.28 £ 2,882.24 £ 2,944.84 £ 2,903.86 £ 3,538.25 £ 4,955.59 £ 7.33 £ 5.34 £ 5.02 £ 4.48 £ 4.40 £ 5.99 £ 5.50 £ 5.29 £ 6.46 £ 8.20 -£ 0.22 £ 1.17 £ 1.74 £ 1.74
Short-Term Investments - Total £ 1,210.76 £ 185.92 £ 303.86 £ 151.48 £ 248.33 £ 255.67 £ 334.70 £ 611.34 £ 749.92 £ 669.02 £ 3.06 £ 0.50 £ 0.80 £ 0.41 £ 0.64 £ 0.53 £ 0.63 £ 1.11 £ 1.37 £ 1.11 £ 0.49 £ 0.26 -£ 0.26 £ 0.49
Derivative Financial Instruments - Hedging - Short-Term £ 156.70 £ 312.16 £ 323.92 £ 223.27 £ 192.60 £ 153.59 £ 248.13 £ 79.47 £ 122.37 £ - £ 0.42 £ 0.83 £ 0.87 £ 0.58 £ 0.40 £ 0.29 £ 0.45 £ 0.15 £ 0.20 £ 0.16 -£ 0.31 £ 0.06 £ 0.16
Trade Accounts & Trade Notes Receivable - Net £ 2,414.02 £ 2,267.62 £ 2,367.76 £ 2,196.01 £ 2,149.46 £ 2,837.07 £ 3,053.15 £ 3,910.77 £ 4,156.28 £ 3,066.43 £ 6.10 £ 6.05 £ 6.27 £ 5.89 £ 5.58 £ 5.90 £ 5.70 £ 7.12 £ 7.59 £ 5.07 £ 1.41 £ 0.47 -£ 2.51 £ 1.41
Loans - Short-Term £ 1.62 £ 83.02 £ 139.82 £ 198.22 £ 177.26 £ 245.92 £ - £ 0.00 £ 0.22 £ 0.37 £ 0.51 £ 0.37 £ 0.46 £ - £ - £ - -£ 0.46 £ - £ - £ -
Income Tax - Receivables - Short-Term £ 182.49 £ 176.18 £ 180.16 £ 218.28 £ 169.48 £ 270.16 £ 433.25 £ 424.34 £ 335.65 £ 332.28 £ 0.46 £ 0.47 £ 0.48 £ 0.59 £ 0.44 £ 0.56 £ 0.81 £ 0.77 £ 0.61 £ 0.55 -£ 0.04 -£ 0.16 -£ 0.06 -£ 0.04
Receivables - Other - Total £ 854.11 £ 869.54 £ 1,146.52 £ 1,197.05 £ 923.30 £ 966.43 £ 1,131.06 £ 1,222.68 £ 951.99 £ 897.69 £ 2.16 £ 2.32 £ 3.03 £ 3.21 £ 2.40 £ 2.01 £ 2.11 £ 2.23 £ 1.74 £ 1.49 £ 0.11 -£ 0.49 -£ 0.25 £ 0.11
Inventories - Total £ 3,833.93 £ 3,601.56 £ 3,268.53 £ 3,237.69 £ 3,194.34 £ 3,645.83 £ 3,517.47 £ 3,866.72 £ 3,520.49 £ 3,985.56 £ 9.68 £ 9.60 £ 8.65 £ 8.68 £ 8.29 £ 7.58 £ 6.57 £ 7.04 £ 6.43 £ 6.59 £ 0.47 -£ 0.61 £ 0.17 £ 0.47
Prepaid Expenses - Short-Term £ 492.47 £ 445.73 £ 428.39 £ 419.47 £ 413.39 £ 429.52 £ 401.29 £ 620.33 £ 489.52 £ 377.83 £ 1.24 £ 1.19 £ 1.13 £ 1.12 £ 1.07 £ 0.89 £ 0.75 £ 1.13 £ 0.89 £ 0.63 £ 0.38 -£ 0.24 -£ 0.27 £ 0.38
Assets Held for Sale/Discontinued Operations - Short-
£ 17.50 £ 155.88 £ 76.38 £ 36.51 £ 131.90 £ 175.56 £ 2,862.27 £ 106.98 £ 69.33 £ 25.01 £ 0.04 £ 0.42 £ 0.20 £ 0.10 £ 0.34 £ 0.37 £ 5.35 £ 0.19 £ 0.13 £ 0.04 -£ 5.15 -£ 0.07 -£ 0.09
Term -£ 0.07
Total Current Assets £ 11,908.43 £ 9,862.07 £ 10,063.81 £ 9,591.12 £ 9,347.97 £ 11,832.34 £ 15,077.54 £ 13,915.15 £ 13,890.90 £ 14,431.78 £ 30.08 £ 26.30 £ 26.63 £ 25.71 £ 24.26 £ 24.60 £ 28.17 £ 25.33 £ 25.35 £ 23.88 -£ 2.84 £ 0.02 -£ 1.47 £ 0.02
Non-Current Assets £ - £ - £ - £ -
Investments - Long-Term £ 398.31 £ 433.55 £ 415.93 £ 533.66 £ 420.75 £ 411.63 £ 434.13 £ 577.18 £ 642.55 £ 763.70 £ 1.01 £ 1.16 £ 1.10 £ 1.43 £ 1.09 £ 0.86 £ 0.81 £ 1.05 £ 1.17 £ 1.26 £ 0.24 £ 0.12 £ 0.09 £ 0.24
Investments in Associates, Joint Ventures and
£ 77.50 £ 67.39 £ 78.87 £ 73.02 £ 78.85 £ 74.14 £ 67.47 £ 48.55 £ 60.87 £ 56.27 £ 0.20 £ 0.18 £ 0.21 £ 0.20 £ 0.20 £ 0.15 £ 0.13 £ 0.09 £ 0.11 £ 0.09 -£ 0.04 £ 0.02 -£ 0.02
Unconsolidated Subsidiaries £ 0.02
Receivables & Loans - Long-Term £ 142.49 £ 24.36 £ 31.55 £ 227.60 £ 329.38 £ 520.71 £ 400.40 £ 276.00 £ 321.27 £ 415.35 £ 0.36 £ 0.06 £ 0.08 £ 0.61 £ 0.85 £ 1.08 £ 0.75 £ 0.50 £ 0.59 £ 0.69 -£ 0.25 £ 0.08 £ 0.10 £ 0.10
Derivative Financial Instruments - Hedging - Long-Term £ - £ - £ - £ - £ - £ - £ - £ 96.38 £ 18.76 £ - £ - £ - £ - £ - £ - £ - £ - £ 0.18 £ 0.03 £ - £ 0.18 -£ 0.14 £ 0.18
Property, Plant & Equipment - Net - Total £ 7,337.88 £ 7,807.98 £ 7,929.32 £ 8,167.25 £ 8,183.71 £ 9,991.53 £ 9,257.99 £ 10,883.63 £ 10,212.30 £ 9,441.35 £ 18.53 £ 20.82 £ 20.99 £ 21.89 £ 21.24 £ 20.78 £ 17.30 £ 19.81 £ 18.64 £ 15.62 £ 2.51 -£ 1.17 -£ 3.02 £ 2.51
Other Non-Current Assets - Total £ 1,466.58 £ 1,672.50 £ 1,911.14 £ 1,489.90 £ 1,711.02 £ 1,880.87 £ 3,069.13 £ 2,724.95 £ 3,332.80 £ 4,097.21 £ 3.70 £ 4.46 £ 5.06 £ 3.99 £ 4.44 £ 3.91 £ 5.73 £ 4.96 £ 6.08 £ 6.78 -£ 0.77 £ 1.12 £ 0.70 £ 1.12
Intangible Assets - Total - Net £ 18,259.70 £ 17,632.69 £ 17,354.68 £ 17,224.72 £ 18,465.30 £ 23,379.19 £ 25,214.44 £ 26,515.02 £ 26,233.74 £ 31,210.06 £ 46.12 £ 47.02 £ 45.93 £ 46.17 £ 47.92 £ 48.62 £ 47.11 £ 48.26 £ 47.88 £ 51.64 £ 1.15 -£ 0.38 £ 3.76 £ 3.76
Total Non-Current Assets £ 27,682.46 £ 27,638.47 £ 27,721.49 £ 27,716.15 £ 29,189.01 £ 36,258.07 £ 38,443.56 £ 41,025.33 £ 40,899.91 £ 46,002.70 £ 69.92 £ 73.70 £ 73.37 £ 74.29 £ 75.74 £ 75.40 £ 71.83 £ 74.67 £ 74.65 £ 76.12 £ 2.84 -£ 0.02 £ 1.47 £ 2.84
Total Assets £ 39,590.89 £ 37,500.54 £ 37,785.30 £ 37,307.27 £ 38,536.98 £ 48,090.41 £ 53,521.10 £ 54,940.48 £ 54,790.81 £ 60,434.48 £ 100.00 £ 100.00 £ 100.00 £ 100.00 £ 100.00 £ 100.00 £ 100.00 £ 100.00 £ 100.00 £ 100.00 £ - £ - £ - £ -
Current Liabilities £ - £ - £ - £ -
Trade Accounts & Trade Notes Payable - Short-Term £ 5,638.82 £ 5,751.45 £ 5,807.31 £ 5,931.63 £ 6,113.10 £ 7,321.50 £ 7,295.06 £ 8,200.03 £ 7,769.77 £ 7,480.73 £ 14.24 £ 15.34 £ 15.37 £ 15.90 £ 15.86 £ 15.22 £ 13.63 £ 14.93 £ 14.18 £ 12.38 £ 1.30 -£ 0.74 -£ 1.80 £ 1.30
Accrued Expenses - Short-Term £ 3,107.31 £ 3,148.52 £ 3,237.81 £ 2,895.13 £ 3,076.44 £ 3,513.74 £ 3,733.20 £ 3,795.69 £ 3,939.84 £ 4,168.67 £ 7.85 £ 8.40 £ 8.57 £ 7.76 £ 7.98 £ 7.31 £ 6.98 £ 6.91 £ 7.19 £ 6.90 -£ 0.07 £ 0.28 -£ 0.29 £ 0.28
Short-Term Debt & Current Portion of Long-Term Debt £ 4,782.20 £ 2,081.69 £ 2,940.60 £ 3,906.52 £ 3,228.98 £ 4,495.51 £ 6,840.51 £ 3,000.05 £ 3,762.29 £ 3,828.35 £ 12.08 £ 5.55 £ 7.78 £ 10.47 £ 8.38 £ 9.35 £ 12.78 £ 5.46 £ 6.87 £ 6.33 -£ 7.32 £ 1.41 -£ 0.53 £ 1.41
Derivative Liabilities - Hedging - Short-Term £ 84.16 £ 238.70 £ 244.91 £ 342.57 £ 138.53 £ 273.57 £ 176.67 £ 240.04 £ 145.42 £ 143.81 £ 0.21 £ 0.64 £ 0.65 £ 0.92 £ 0.36 £ 0.57 £ 0.33 £ 0.44 £ 0.27 £ 0.24 £ 0.11 -£ 0.17 -£ 0.03 £ 0.11
Liabilities Held for Sale/Discontinued Operations -
£ - £ 0.81 £ 3.32 £ 0.78 £ 4.42 £ 0.85 £ 150.93 £ 9.89 £ 0.85 £ 0.89 £ - £ 0.00 £ 0.01 £ 0.00 £ 0.01 £ 0.00 £ 0.28 £ 0.02 £ 0.00 £ 0.00 -£ 0.26 -£ 0.02 -£ 0.00
Short-Term -£ 0.00
Income Taxes - Payable - Short-Term £ 604.13 £ 916.63 £ 1,041.08 £ 839.72 £ 830.46 £ 719.28 £ 965.93 £ 1,299.09 £ 759.22 £ 1,296.06 £ 1.53 £ 2.44 £ 2.76 £ 2.25 £ 2.15 £ 1.50 £ 1.80 £ 2.36 £ 1.39 £ 2.14 £ 0.56 -£ 0.98 £ 0.76 £ 0.76
Other Current Liabilities - Total £ 723.29 £ 702.29 £ 1,155.65 £ 1,341.53 £ 1,359.53 £ 1,193.97 £ 1,414.27 £ 1,570.60 £ 1,358.65 £ 1,474.71 £ 1.83 £ 1.87 £ 3.06 £ 3.60 £ 3.53 £ 2.48 £ 2.64 £ 2.86 £ 2.48 £ 2.44 £ 0.22 -£ 0.38 -£ 0.04 £ 0.22
Total Current Liabilities £ 14,939.91 £ 12,840.09 £ 14,430.68 £ 15,257.88 £ 14,751.46 £ 17,518.42 £ 20,576.57 £ 18,115.39 £ 17,736.04 £ 18,393.22 £ 37.74 £ 34.24 £ 38.19 £ 40.90 £ 38.28 £ 36.43 £ 38.45 £ 32.97 £ 32.37 £ 30.43 -£ 5.47 -£ 0.60 -£ 1.94 -£ 0.60
Non-Current Liabilities £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ -
Accounts Payable including Accrued Expenses - Long-
£ 46.28 £ 48.98 £ 84.67 £ 88.42 £ 135.50 £ 129.62 £ 108.78 £ 98.92 £ 72.35 £ - £ 0.12 £ 0.13 £ 0.23 £ 0.23 £ 0.28 £ 0.24 £ 0.20 £ 0.18 £ 0.12 -£ 0.04 -£ 0.02 -£ 0.06
Term -£ 0.02
Debt - Long-Term - Total £ 6,564.59 £ 6,114.37 £ 6,136.07 £ 5,379.33 £ 7,109.35 £ 9,489.57 £ 14,317.57 £ 20,541.88 £ 19,744.85 £ 20,080.52 £ 16.58 £ 16.30 £ 16.24 £ 14.42 £ 18.45 £ 19.73 £ 26.75 £ 37.39 £ 36.04 £ 33.23 £ 10.64 -£ 1.35 -£ 2.81 £ 10.64
Derivative Liabilities - Hedging - Long-Term £ 27.60 £ 83.02 £ 56.71 £ 4.42 £ 8.52 £ 297.41 £ 247.23 £ 130.20 £ 229.56 £ - £ 0.07 £ 0.22 £ 0.15 £ 0.01 £ 0.02 £ 0.56 £ 0.45 £ 0.24 £ 0.38 -£ 0.11 -£ 0.21 £ 0.14 £ 0.14
Deferred Tax & Investment Tax Credits - Long-Term £ 937.44 £ 1,148.02 £ 1,265.24 £ 1,191.61 £ 1,285.11 £ 1,756.44 £ 1,698.36 £ 1,708.15 £ 2,175.37 £ 2,827.94 £ 2.37 £ 3.06 £ 3.35 £ 3.19 £ 3.33 £ 3.65 £ 3.17 £ 3.11 £ 3.97 £ 4.68 -£ 0.06 £ 0.86 £ 0.71 £ 0.86
Other Non-Current Liabilities - Total £ 4,715.54 £ 4,375.29 £ 3,521.75 £ 4,257.63 £ 3,447.83 £ 4,711.12 £ 3,728.77 £ 3,325.50 £ 3,165.40 £ 3,061.07 £ 11.91 £ 11.67 £ 9.32 £ 11.41 £ 8.95 £ 9.80 £ 6.97 £ 6.05 £ 5.78 £ 5.07 -£ 0.91 -£ 0.28 -£ 0.71 -£ 0.28
Total Non-Current Liabilities £ 12,217.57 £ 11,711.56 £ 11,055.06 £ 10,969.95 £ 11,935.13 £ 16,101.15 £ 20,171.73 £ 25,931.54 £ 25,314.74 £ 26,271.44 £ 30.86 £ 31.23 £ 29.26 £ 29.40 £ 30.97 £ 33.48 £ 37.69 £ 47.20 £ 46.20 £ 43.47 £ 9.51 -£ 1.00 -£ 2.73 £ 9.51
Total Liabilities £ 27,157.48 £ 24,551.65 £ 25,485.74 £ 26,227.83 £ 26,686.59 £ 33,619.57 £ 40,748.30 £ 44,046.93 £ 43,050.78 £ 44,664.66 £ 68.60 £ 65.47 £ 67.45 £ 70.30 £ 69.25 £ 69.91 £ 76.14 £ 80.17 £ 78.57 £ 73.91 £ 4.04 -£ 1.60 -£ 4.67 £ 4.04
Shareholders' Equity £ - £ - £ - £ -
Common Stock - Treasury/Repurchased -£ 3,486.45 -£ 3,249.20 -£ 3,229.51 -£ 3,204.29 -£ 3,035.18 -£ 3,548.68 -£ 8,174.87 -£ 9,153.00 -£ 594.36 -£ 431.43 -£ 8.81 -£ 8.66 -£ 8.55 -£ 8.59 -£ 7.88 -£ 7.38 -£ 15.27 -£ 16.66 -£ 1.08 -£ 0.71 -£ 1.39 £ 15.58 £ 0.37 £ 15.58
Common Equity - Contributed £ 517.47 £ 506.62 £ 516.39 £ 488.61 £ 468.65 £ 526.68 £ 545.11 £ 533.12 £ 468.38 £ 65,708.97 £ 1.31 £ 1.35 £ 1.37 £ 1.31 £ 1.22 £ 1.10 £ 1.02 £ 0.97 £ 0.85 £ 108.73 -£ 0.05 -£ 0.12 £ 107.87 £ 107.87
Equity - Non-Contributed - Reserves & Retained
£ 14,879.08 £ 15,239.23 £ 14,621.63 £ 13,319.75 £ 13,943.11 £ 16,959.35 £ 19,729.61 £ 18,866.09 £ 11,279.27 -£ 51,641.62 £ 37.58 £ 40.64 £ 38.70 £ 35.70 £ 36.18 £ 35.27 £ 36.86 £ 34.34 £ 20.59 -£ 85.45 -£ 2.52 -£ 13.75 -£ 106.04
Earnings -£ 2.52
Minority Interest - Equity £ 523.30 £ 452.22 £ 391.03 £ 475.40 £ 473.81 £ 533.50 £ 672.95 £ 647.30 £ 586.75 £ 2,133.91 £ 1.32 £ 1.21 £ 1.03 £ 1.27 £ 1.23 £ 1.11 £ 1.26 £ 1.18 £ 1.07 £ 3.53 -£ 0.08 -£ 0.11 £ 2.46 £ 2.46
Total Shareholders' Equity £ 12,433.40 £ 12,948.87 £ 12,299.54 £ 11,079.47 £ 11,850.39 £ 14,470.85 £ 12,772.80 £ 10,893.51 £ 11,740.04 £ 15,769.83 £ 31.40 £ 34.53 £ 32.55 £ 29.70 £ 30.75 £ 30.09 £ 23.86 £ 19.83 £ 21.43 £ 26.09 -£ 4.04 £ 1.60 £ 4.67 £ 4.67
Total Liabilities & Shareholders' Equity £ 39,590.88 £ 37,500.52 £ 37,785.28 £ 37,307.30 £ 38,536.98 £ 48,090.42 £ 53,521.10 £ 54,940.44 £ 54,790.82 £ 60,434.49 £ 100.00 £ 100.00 £ 100.00 £ 100.00 £ 100.00 £ 100.00 £ 100.00 £ 100.00 £ 100.00 £ 100.00 -£ 0.00 £ 0.00 -£ 0.00 £ 0.00

Income Statement - Standardized (Currency: UK Pound

Sterling)
Field Name 30-12-2011 30-12-2012 30-12-2013 30-12-2014 30-12-2015 30-12-2016 30-12-2017 30-12-2018 30-12-2019 30-12-2020 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2018 2019 2020
Revenues
Revenue from Business Activities - Total £ 40,325.48 £ 41,637.62 £ 42,288.66 £ 39,048.35 £ 38,701.10 £ 43,183.45 £ 47,083.58 £ 45,105.45 £ 45,588.80 £ 45,116.84 £ 1,389.03 ### ### ### ### ### ### ### ### £ 910.42 -£ 45.56 ### -£ 378.03
Operating Expenses £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ -
Cost of Operating Revenue £ 24,238.51 £ 22,120.09 £ 22,016.91 £ 20,402.92 £ 19,941.91 £ 22,104.97 £ 23,934.92 £ 25,394.49 £ 25,523.76 £ 25,513.20 £ 834.90 ### ### ### ### £ 766.94 £ 812.77 £ 874.51 £ 721.37 £ 514.84 £ 61.73 ### -£ 206.53
Gross Profit - Industrials/Property - Total £ 16,086.97 £ 19,517.53 £ 20,271.75 £ 18,645.43 £ 18,759.19 £ 21,078.48 £ 23,148.66 £ 19,710.96 £ 20,065.04 £ 19,603.64 £ 554.12 £ 975.23 ### ### ### £ 731.32 £ 786.08 £ 678.78 £ 567.09 £ 395.59 ### ### -£ 171.50
Selling, General & Administrative Expenses - Total £ 10,515.50 £ 13,857.30 £ 13,888.16 £ 12,212.08 £ 13,299.69 £ 14,687.76 £ 15,385.11 £ 11,338.74 £ 11,341.07 £ 11,272.09 £ 362.21 £ 692.41 £ 732.10 £ 730.87 £ 784.05 £ 509.60 £ 522.44 £ 390.47 £ 320.53 £ 227.46 ### -£ 69.94 -£ 93.07
Other Operating Expense/(Income) - Net £ 124.97 -£ 59.22 £ 425.46 £ 773.94 -£ 254.27 -£ 200.71 -£ 475.96 £ 4.30 -£ 2.96 £ 22.43 £ 46.32 -£ 14.99 -£ 6.96 -£ 16.16 £ - £ - £ - £ 16.16 £ - £ -
Operating Profit £ 5,446.50 £ 5,719.45 £ 5,958.13 £ 5,659.41 £ 5,713.77 £ 6,591.43 £ 8,239.51 £ 8,372.22 £ 8,723.97 £ 8,331.55 £ 187.61 £ 285.78 £ 314.08 £ 338.71 £ 336.84 £ 228.69 £ 279.79 £ 288.31 £ 246.56 £ 168.12 £ 8.52 -£ 41.75 -£ 78.44
Non-Operating Expenses £ - £ - £ -
Interest Income - Non-Bank £ 79.84 £ 110.33 £ 87.47 £ 94.32 £ 104.61 £ 94.21 £ 137.62 £ 119.44 £ 196.46 £ 206.35 £ 2.75 £ 5.51 £ 4.61 £ 5.64 £ 6.17 £ 3.27 £ 4.67 £ 4.11 £ 5.55 £ 4.16 -£ 0.56 £ 1.44 -£ 1.39
Interest Expense - Net of Capitalized Interest £ 465.16 £ 425.11 £ 422.06 £ 391.81 £ 401.02 £ 468.59 £ 498.75 £ 646.74 £ 669.19 £ 575.48 £ 16.02 £ 21.24 £ 22.25 £ 23.45 £ 23.64 £ 16.26 £ 16.94 £ 22.27 £ 18.91 £ 11.61 £ 5.34 -£ 3.36 -£ 7.30
Non-Interest Financial Income/(Expense) - Total -£ 16.49 -£ 128.99 -£ 101.06 -£ 39.50 -£ 21.79 £ 8.19 -£ 68.37 -£ 2.65 -£ 26.31 -£ 55.15 -£ 0.57 -£ 6.45 -£ 5.33 -£ 2.36 -£ 1.28 £ 0.28 -£ 2.32 -£ 0.09 -£ 0.74 -£ 1.11 £ 2.23 -£ 0.65 -£ 0.37
Equity Earnings/(Loss) - before Taxes including Non-
£ 98.06 £ 85.18 £ 95.96 £ 79.01 £ 77.73 £ 104.04 £ 135.86 £ 135.36 £ 151.73 £ 155.66 £ 3.38 £ 4.26 £ 5.06 £ 4.73 £ 4.58 £ 3.61 £ 4.61 £ 4.66 £ 4.29 £ 3.14 £ 0.05 -£ 0.37 -£ 1.15
Recurring
Normalized Pre-tax Profit £ 5,142.75 £ 5,360.86 £ 5,618.44 £ 5,401.43 £ 5,473.30 £ 6,329.28 £ 7,945.87 £ 7,977.63 £ 8,376.66 £ 8,062.93 £ 177.14 £ 267.87 £ 296.17 £ 323.27 £ 322.66 £ 219.60 £ 269.82 £ 274.73 £ 236.75 £ 162.70 £ 4.90 -£ 37.98 -£ 74.04
Non-Recurring Income/(Expense) - Total £ 121.50 -£ 60.85 £ 422.91 £ 762.65 -£ 228.12 -£ 210.54 -£ 799.41 £ 2,957.66 -£ 1,106.83 -£ 950.83 £ 4.19 -£ 3.04 £ 22.29 £ 45.64 -£ 13.45 -£ 7.30 -£ 27.15 £ 101.85 -£ 31.28 -£ 19.19 ### ### £ 12.09
Pre-Tax Income £ 5,264.25 £ 5,300.01 £ 6,041.35 £ 6,164.08 £ 5,245.18 £ 6,118.74 £ 7,146.46 £ 10,935.29 £ 7,269.83 £ 7,112.10 £ 181.33 £ 264.83 £ 318.46 £ 368.91 £ 309.22 £ 212.29 £ 242.68 £ 376.58 £ 205.46 £ 143.52 ### ### -£ 61.95
Taxes
Income Taxes £ 1,366.83 £ 1,376.73 £ 1,571.91 £ 1,717.98 £ 1,424.63 £ 1,574.54 £ 1,967.84 £ 2,249.88 £ 1,984.75 £ 1,710.43 £ 47.08 £ 68.79 £ 82.86 £ 102.82 £ 83.99 £ 54.63 £ 66.82 £ 77.48 £ 56.09 £ 34.52 £ 10.66 -£ 21.38 -£ 21.58
Net Income After Tax £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ -
Net Income after Tax £ 3,897.42 £ 3,923.28 £ 4,469.44 £ 4,446.10 £ 3,820.55 £ 4,544.20 £ 5,178.62 £ 8,685.41 £ 5,285.08 £ 5,401.67 £ 134.25 £ 196.03 £ 235.60 £ 266.09 £ 225.23 £ 157.66 £ 175.85 £ 299.10 £ 149.37 £ 109.00 ### ### -£ 40.37
After Tax Income/Expense
Income before Discontinued Operations &
Extraordinary Items £ 3,897.43 £ 3,923.30 £ 4,469.45 £ 4,446.11 £ 3,820.56 £ 4,544.20 £ 5,178.62 £ 8,685.42 £ 5,285.07 £ 5,401.67 £ 134.25 £ 196.04 £ 235.60 £ 266.09 £ 225.23 £ 157.66 £ 175.85 £ 299.10 £ 149.37 £ 109.00 ### ### -£ 40.37
Extraordinary Activities - after Tax - Gain/(Loss) £ 506.64 -£ 25.66 £ - £ - £ - £ - £ - £ - £ - £ 17.20 -£ 0.88 £ - £ - -£ 18.09 £ 0.88 £ -
Net Income before Minority Interest £ 3,897.43 £ 3,923.30 £ 4,469.45 £ 4,446.11 £ 3,820.56 £ 4,544.20 £ 5,685.27 £ 8,659.77 £ 5,285.07 £ 5,401.67 £ 134.25 £ 196.04 £ 235.60 £ 266.09 £ 225.23 £ 157.66 £ 193.06 £ 298.22 £ 149.37 £ 109.00 ### ### -£ 40.37
Minority Interest £ 321.97 £ 379.67 £ 357.52 £ 277.33 £ 254.27 £ 297.38 £ 379.54 £ 370.70 £ 351.70 £ 437.61 £ 11.09 £ 18.97 £ 18.85 £ 16.60 £ 14.99 £ 10.32 £ 12.89 £ 12.77 £ 9.94 £ 8.83 -£ 0.12 -£ 2.83 -£ 1.11
Net Income after Minority Interest (Income available
to common shares) £ 3,575.46 £ 3,543.63 £ 4,111.93 £ 4,168.78 £ 3,566.29 £ 4,246.82 £ 5,305.72 £ 8,289.06 £ 4,933.37 £ 4,964.06 £ 123.16 £ 177.06 £ 216.76 £ 249.49 £ 210.24 £ 147.34 £ 180.17 £ 285.45 £ 139.43 £ 100.17 ### ### -£ 39.26

FINANCIAL ANALYSIS
£ 107.87
LIQUIDITY

Current ratio 0.7971 0.7681 0.6974 0.6286 0.6337 0.6754 0.7328 0.7681 0.7832 0.7846
Quick ratio 0.5405 0.4876 0.4709 0.4164 0.4172 0.4673 0.5618 0.5547 0.5847 0.5679
Cash ratio 0.1943 0.1559 0.1315 0.1095 0.1150 0.1645 0.1431 0.1603 0.1995 0.2694

EFFICIENCY RATIOS

Accounts receivable turnover 16.7047 18.3618 17.8602 17.7815 18.0050 15.2211 15.4213 11.5336 10.9687 14.7131
Inventory turnover 6.3221 6.1418 6.7360 6.3017 6.2429 6.0631 6.8046 6.5674 7.2501 6.4014
Accounts payable turnover 4.2985 3.8460 3.7912 3.4397 3.2622 3.0192 3.2810 3.0969 3.2850 3.4105
Collection period 21.55 19.61 20.16 20.25 19.99 23.65 23.34 31.21 32.82 24.47 días
Days of inventory on hand 56.94 58.61 53.44 57.13 57.67 59.38 52.91 54.82 49.65 56.24 días
Payment period 83.75 93.60 94.96 104.66 110.36 119.24 109.72 116.25 109.59 105.56 días
Operating cycle 86.03 82.48 80.71 días
Cash Conversion Cycle -30.22 -27.11 -24.85 días

MARGINS

Gross profit margin 39.89% 46.87% 47.94% 47.75% 48.47% 48.81% 49.17% 43.70% 44.01% 43.45%
Operating margin 13.51% 13.74% 14.09% 14.49% 14.76% 15.26% 17.50% 18.56% 19.14% 18.47%
Net profit margin 8.87% 8.51% 9.72% 10.68% 9.21% 9.83% 11.27% 18.38% 10.82% 11.00%

PROFITABILITY RATIOS

ROA 10.21% 10.58% 12.00% 12.22% 10.29% 9.81% 10.85% 16.26% 10.23% 9.17%
ROE 28.76% 27.37% 33.43% 37.63% 30.09% 29.35% 41.54% 76.09% 42.02% 31.48%
ROIC 16.90% 19.77% 20.31% 19.66% 18.64% 17.03% 17.35% 19.04% 17.85% 15.80%
FINANCIAL DEBT £ 11,430.95 £ 8,462.36 £ 9,404.60 £ 9,685.13 £ 10,481.28 £ 14,267.17 £ 21,632.16 £ 24,029.20 £ 23,782.76 £ 24,282.24
EQUITY £ 12,433.40 £ 12,948.87 £ 12,299.54 £ 11,079.47 £ 11,850.39 £ 14,470.85 £ 12,772.80 £ 10,893.51 £ 11,740.04 £ 15,769.83
TOTAL INVESTED CAPITAL £ 23,864.35 £ 21,411.23 £ 21,704.14 £ 20,764.60 £ 22,331.67 £ 28,738.02 £ 34,404.96 £ 34,922.71 £ 35,522.80 £ 40,052.07
TAX RATE 25.96% 25.98% 26.02% 27.87% 27.16% 25.73% 27.54% 20.57% 27.30% 24.05%
NOPAT £ 4,032.35 £ 4,233.77 £ 4,407.87 £ 4,082.09 £ 4,161.87 £ 4,895.25 £ 5,970.69 £ 6,649.68 £ 6,342.22 £ 6,327.85

LEVERAGE RATIOS
Debt to Equity 2.18 1.90 2.07 2.37 2.25 2.32 3.19 4.04 3.67 2.83
Debt to Total Assets 68.60% 65.47% 67.45% 70.30% 69.25% 69.91% 76.14% 80.17% 78.57% 73.91%
Equity multiplier 3.18 2.90 3.07 3.37 3.25 3.32 4.19 5.04 4.67 3.83
 COMMON SIZE INCOME STATEMENT COMMON-SIZE BS VARIATIONS
Income Statement - Standardized (Currency: UK Pound
Sterling)
Field Name 30-12-2011 30-12-2012 30-12-2013 30-12-2014 30-12-2015 30-12-2016 30-12-2017 30-12-2018 30-12-2019 30-12-2020 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2012 2013 2014 2015 2016 2017 2018 2019 2020
Revenues
Revenue from Business Activities - Total £ 40,325.48 £ 41,637.62 £ 42,288.66 £ 39,048.35 £ 38,701.10 £ 43,183.45 £ 47,083.58 £ 45,105.45 £ 45,588.80 £ 45,116.84 £ 100.00 £ 100.00 £ 100.00 £ 100.00 £ 100.00 £ 100.00 £ 100.00 £ 100.00 £ 100.00 £ 100.00 £ - £ - £ - £ - £ - £ - £ - £ - £ -
Operating Expenses £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ -
Cost of Operating Revenue £ 24,238.51 £ 22,120.09 £ 22,016.91 £ 20,402.92 £ 19,941.91 £ 22,104.97 £ 23,934.92 £ 25,394.49 £ 25,523.76 £ 25,513.20 £ 60.11 £ 53.13 £ 52.06 £ 52.25 £ 51.53 £ 51.19 £ 50.83 £ 56.30 £ 55.99 £ 56.55 -£ 6.98 -£ 1.06 £ 0.19 -£ 0.72 -£ 0.34 -£ 0.35 £ 5.47 -£ 0.31 £ 0.56
Gross Profit - Industrials/Property - Total £ 16,086.97 £ 19,517.53 £ 20,271.75 £ 18,645.43 £ 18,759.19 £ 21,078.48 £ 23,148.66 £ 19,710.96 £ 20,065.04 £ 19,603.64 £ 39.89 £ 46.87 £ 47.94 £ 47.75 £ 48.47 £ 48.81 £ 49.17 £ 43.70 £ 44.01 £ 43.45 £ 6.98 £ 1.06 -£ 0.19 £ 0.72 £ 0.34 £ 0.35 -£ 5.47 £ 0.31 -£ 0.56
Selling, General & Administrative Expenses - Total £ 10,515.50 £ 13,857.30 £ 13,888.16 £ 12,212.08 £ 13,299.69 £ 14,687.76 £ 15,385.11 £ 11,338.74 £ 11,341.07 £ 11,272.09 £ 26.08 £ 33.28 £ 32.84 £ 31.27 £ 34.37 £ 34.01 £ 32.68 £ 25.14 £ 24.88 £ 24.98 £ 7.20 -£ 0.44 -£ 1.57 £ 3.09 -£ 0.35 -£ 1.34 -£ 7.54 -£ 0.26 £ 0.11
Other Operating Expense/(Income) - Net £ 124.97 -£ 59.22 £ 425.46 £ 773.94 -£ 254.27 -£ 200.71 -£ 475.96 £ 0.31 -£ 0.14 £ 1.01 £ 1.98 -£ 0.66 -£ 0.46 -£ 1.01 £ - £ - £ - -£ 0.45 £ 1.15 £ 0.98 -£ 2.64 £ 0.19 -£ 0.55 £ 1.01 £ - £ -
Operating Profit £ 5,446.50 £ 5,719.45 £ 5,958.13 £ 5,659.41 £ 5,713.77 £ 6,591.43 £ 8,239.51 £ 8,372.22 £ 8,723.97 £ 8,331.55 £ 13.51 £ 13.74 £ 14.09 £ 14.49 £ 14.76 £ 15.26 £ 17.50 £ 18.56 £ 19.14 £ 18.47 £ 0.23 £ 0.35 £ 0.40 £ 0.27 £ 0.50 £ 2.24 £ 1.06 £ 0.57 -£ 0.67
Non-Operating Expenses £ - £ - £ - £ - £ - £ - £ - £ - £ -
Interest Income - Non-Bank £ 79.84 £ 110.33 £ 87.47 £ 94.32 £ 104.61 £ 94.21 £ 137.62 £ 119.44 £ 196.46 £ 206.35 £ 0.20 £ 0.26 £ 0.21 £ 0.24 £ 0.27 £ 0.22 £ 0.29 £ 0.26 £ 0.43 £ 0.46 £ 0.07 -£ 0.06 £ 0.03 £ 0.03 -£ 0.05 £ 0.07 -£ 0.03 £ 0.17 £ 0.03
Interest Expense - Net of Capitalized Interest £ 465.16 £ 425.11 £ 422.06 £ 391.81 £ 401.02 £ 468.59 £ 498.75 £ 646.74 £ 669.19 £ 575.48 £ 1.15 £ 1.02 £ 1.00 £ 1.00 £ 1.04 £ 1.09 £ 1.06 £ 1.43 £ 1.47 £ 1.28 -£ 0.13 -£ 0.02 £ 0.01 £ 0.03 £ 0.05 -£ 0.03 £ 0.37 £ 0.03 -£ 0.19
Non-Interest Financial Income/(Expense) - Total -£ 16.49 -£ 128.99 -£ 101.06 -£ 39.50 -£ 21.79 £ 8.19 -£ 68.37 -£ 2.65 -£ 26.31 -£ 55.15 -£ 0.04 -£ 0.31 -£ 0.24 -£ 0.10 -£ 0.06 £ 0.02 -£ 0.15 -£ 0.01 -£ 0.06 -£ 0.12 -£ 0.27 £ 0.07 £ 0.14 £ 0.04 £ 0.08 -£ 0.16 £ 0.14 -£ 0.05 -£ 0.06
Equity Earnings/(Loss) - before Taxes including Non-
£ 98.06 £ 85.18 £ 95.96 £ 79.01 £ 77.73 £ 104.04 £ 135.86 £ 135.36 £ 151.73 £ 155.66 £ 0.24 £ 0.20 £ 0.23 £ 0.20 £ 0.20 £ 0.24 £ 0.29 £ 0.30 £ 0.33 £ 0.35 -£ 0.04 £ 0.02 -£ 0.02 -£ 0.00 £ 0.04 £ 0.05 £ 0.01 £ 0.03 £ 0.01
Recurring
Normalized Pre-tax Profit £ 5,142.75 £ 5,360.86 £ 5,618.44 £ 5,401.43 £ 5,473.30 £ 6,329.28 £ 7,945.87 £ 7,977.63 £ 8,376.66 £ 8,062.93 £ 12.75 £ 12.88 £ 13.29 £ 13.83 £ 14.14 £ 14.66 £ 16.88 £ 17.69 £ 18.37 £ 17.87 £ 0.12 £ 0.41 £ 0.55 £ 0.31 £ 0.51 £ 2.22 £ 0.81 £ 0.69 -£ 0.50
Non-Recurring Income/(Expense) - Total £ 121.50 -£ 60.85 £ 422.91 £ 762.65 -£ 228.12 -£ 210.54 -£ 799.41 £ 2,957.66 -£ 1,106.83 -£ 950.83 £ 0.30 -£ 0.15 £ 1.00 £ 1.95 -£ 0.59 -£ 0.49 -£ 1.70 £ 6.56 -£ 2.43 -£ 2.11 -£ 0.45 £ 1.15 £ 0.95 -£ 2.54 £ 0.10 -£ 1.21 £ 8.26 -£ 8.99 £ 0.32
Pre-Tax Income £ 5,264.25 £ 5,300.01 £ 6,041.35 £ 6,164.08 £ 5,245.18 £ 6,118.74 £ 7,146.46 £ 10,935.29 £ 7,269.83 £ 7,112.10 £ 13.05 £ 12.73 £ 14.29 £ 15.79 £ 13.55 £ 14.17 £ 15.18 £ 24.24 £ 15.95 £ 15.76 -£ 0.33 £ 1.56 £ 1.50 -£ 2.23 £ 0.62 £ 1.01 £ 9.07 -£ 8.30 -£ 0.18
Taxes
Income Taxes £ 1,366.83 £ 1,376.73 £ 1,571.91 £ 1,717.98 £ 1,424.63 £ 1,574.54 £ 1,967.84 £ 2,249.88 £ 1,984.75 £ 1,710.43 £ 3.39 £ 3.31 £ 3.72 £ 4.40 £ 3.68 £ 3.65 £ 4.18 £ 4.99 £ 4.35 £ 3.79 -£ 0.08 £ 0.41 £ 0.68 -£ 0.72 -£ 0.03 £ 0.53 £ 0.81 -£ 0.63 -£ 0.56
Net Income After Tax £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ - £ -
Net Income after Tax £ 3,897.42 £ 3,923.28 £ 4,469.44 £ 4,446.10 £ 3,820.55 £ 4,544.20 £ 5,178.62 £ 8,685.41 £ 5,285.08 £ 5,401.67 £ 9.66 £ 9.42 £ 10.57 £ 11.39 £ 9.87 £ 10.52 £ 11.00 £ 19.26 £ 11.59 £ 11.97 -£ 0.24 £ 1.15 £ 0.82 -£ 1.51 £ 0.65 £ 0.48 £ 8.26 -£ 7.66 £ 0.38
After Tax Income/Expense
Income before Discontinued Operations & Extraordinary
Items £ 3,897.43 £ 3,923.30 £ 4,469.45 £ 4,446.11 £ 3,820.56 £ 4,544.20 £ 5,178.62 £ 8,685.42 £ 5,285.07 £ 5,401.67 £ 9.66 £ 9.42 £ 10.57 £ 11.39 £ 9.87 £ 10.52 £ 11.00 £ 19.26 £ 11.59 £ 11.97 -£ 0.24 £ 1.15 £ 0.82 -£ 1.51 £ 0.65 £ 0.48 £ 8.26 -£ 7.66 £ 0.38
Extraordinary Activities - after Tax - Gain/(Loss) £ 506.64 -£ 25.66 £ - £ - £ - £ - £ - £ - £ - £ 1.08 -£ 0.06 £ - £ - £ - £ - £ - £ - £ - £ 1.08 -£ 1.13 £ 0.06 £ -
Net Income before Minority Interest £ 3,897.43 £ 3,923.30 £ 4,469.45 £ 4,446.11 £ 3,820.56 £ 4,544.20 £ 5,685.27 £ 8,659.77 £ 5,285.07 £ 5,401.67 £ 9.66 £ 9.42 £ 10.57 £ 11.39 £ 9.87 £ 10.52 £ 12.07 £ 19.20 £ 11.59 £ 11.97 -£ 0.24 £ 1.15 £ 0.82 -£ 1.51 £ 0.65 £ 1.55 £ 7.12 -£ 7.61 £ 0.38
Minority Interest £ 321.97 £ 379.67 £ 357.52 £ 277.33 £ 254.27 £ 297.38 £ 379.54 £ 370.70 £ 351.70 £ 437.61 £ 0.80 £ 0.91 £ 0.85 £ 0.71 £ 0.66 £ 0.69 £ 0.81 £ 0.82 £ 0.77 £ 0.97 £ 0.11 -£ 0.07 -£ 0.14 -£ 0.05 £ 0.03 £ 0.12 £ 0.02 -£ 0.05 £ 0.20
Net Income after Minority Interest (Income available to
common shares) £ 3,575.46 £ 3,543.63 £ 4,111.93 £ 4,168.78 £ 3,566.29 £ 4,246.82 £ 5,305.72 £ 8,289.06 £ 4,933.37 £ 4,964.06 £ 8.87 £ 8.51 £ 9.72 £ 10.68 £ 9.21 £ 9.83 £ 11.27 £ 18.38 £ 10.82 £ 11.00 -£ 0.36 £ 1.21 £ 0.95 -£ 1.46 £ 0.62 £ 1.43 £ 7.11 -£ 7.56 £ 0.18