Alliance Boots Report 10/11

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Alliance Boots Annual Report 2010/11

Overview

Our performance in 2010/11
(for the year ended 31 March 2011)

Revenue

EBITDA

Trading profit

+15.1%
£20.2bn
£23.3 billion including share of associates and joint ventures

+10.8%
£1,300m
£1,442 million including share of associates and joint ventures

+14.2%
£1,051m
£1,164 million including share of associates and joint ventures

– Controlling interest in Hedef Alliance acquired in July (Turkey, Egypt) – ANZAG majority ownership acquired in December (Germany, Romania, Lithuania)

£million

Revenue EBITDA1 Underlying depreciation and amortisation2 Trading profit3 Associates and joint ventures – share of underlying post tax earnings4 Underlying net finance costs5 Underlying tax charge6 Underlying profit7

20,218 1,300 (249) 1,051 74 (381) (137) 607

£million

Underlying profit7 Amortisation of customer relationships and brands Net exceptional items before tax8 Timing differences within net finance costs Tax credit on items not in underlying profit Exceptional tax credit9 Profit from continuing operations Profit from discontinued operations Profit for the year

607 (114) 36 (29) 40 72 612 3 615

1 EBITDA comprises trading profit before underlying depreciation and amortisation. 2 Underlying depreciation and amortisation excludes amortisation of customer relationships and brands and depreciation and amortisation within exceptional items. 3 Trading profit comprises profit from operations before amortisation of customer relationships and brands, exceptional items and share of post tax earnings of associates and joint ventures. 4 Associates and joint ventures – share of underlying post tax earnings comprises share of post tax earnings of associates and joint ventures before amortisation of customer relationships and brands, exceptional items, timing differences within net finance costs and related tax. 5 Underlying net finance costs comprise net... [continues]

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