© Rolls-Royce Group plc 2004
Legal information
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| 2 Segmental analysis | ||||||||
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Group turnover | |
Profit before interest | |
Net assets1 | |||
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2003 £m |
2002 £m |
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2003 £m |
2002 £m |
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2003 £m |
2002 £m |
| Analysis by business: | ||||||||
| Civil aerospace |
2,694 | 2,739 | |
82 | 87 | |
1,100 | 1,219 |
| Defence |
1,398 | 1,376 | |
132 | 161 | |
69 | 25 |
| Marine |
927 | 984 | |
32 | 54 | |
547 | 550 |
| Energy |
584 | 639 | |
30 | (70) | |
376 | 348 |
| Financial services 2 |
42 | 50 | |
(6) | (20) | |
375 | 490 |
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5,645 | 5,788 | |
270 | 212 | |
2,467 | 2,632 |
| Geographical analysis by origin: | ||||||||
| United Kingdom |
3,467 | 3,395 | |
76 | 52 | |
1,036 | 1,170 |
| Other |
2,178 | 2,393 | |
194 | 160 | |
1,431 | 1,462 |
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5,645 | 5,788 | |
270 | 212 | |
2,467 | 2,632 |
| Geographical analysis by destination: | ||||||||
| United Kingdom |
1,006 | 892 | ||||||
| Rest of Europe |
919 | 893 | ||||||
| USA |
2,061 | 1,966 | ||||||
| Canada |
129 | 134 | ||||||
| Asia |
1,047 | 1,018 | ||||||
| Africa |
110 | 145 | ||||||
| Australasia |
70 | 115 | ||||||
| Other |
303 | 625 | ||||||
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5,645 | 5,788 | ||||||
| Exports from United Kingdom | 2,434 | 2,486 | ||||||
| Sales to overseas subsidiaries | (247) | (179) | ||||||
| Sales by overseas subsidiaries | 2,425 | 2,572 | ||||||
| Sales by overseas joint arrangements | 27 | 17 | ||||||
| Total overseas | 4,639 | 4,896 | ||||||
1 Net assets exclude net debt of £323m (2002 net debt of £595m). |
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| 2 The turnover of financial services businesses including share of joint ventures is £127m (2002 £122m). | ||||||||
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The analysis of underlying profit before interest, the profit and loss account exceptional items and the reconciliation to underlying profit before taxation are as follows: |
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2003 | |
2002 | ||||||
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Underlying profit before interest £m |
Exceptional items £m |
Other non-trading items £m |
Profit before interest £m |
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Underlying profit before interest £m |
Exceptional items £m |
Other non-trading items £m |
Profit before interest £m |
| Civil aerospace | 131 | (34) | (15) | 82 | |
150 | (51) | (12) | 87 |
| Defence | 147 | (11) | (4) | 132 | |
183 | (11) | (11) | 161 |
| Marine | 71 | (7) | (32) | 32 | |
82 | (1) | (27) | 54 |
| Energy | 30 | (1) | 1 | 30 | |
(41) | (10) | (19) | (70) |
| Financial services | (4) | (1) | (1) | (6) | |
(12) | (2) | (6) | (20) |
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375 | (54)1 | (51)2 | 270 | |
362 | (75)1 | (75)2 | 212 |
| Interest | (90) | |
(107) | |
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| Underlying profit before taxation | 285 | |
255 | |
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1 Rationalisation costs see note 3. |
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| 2 Comprising amortisation of goodwill £48m (2002 £52m), profit on sale of businesses £6m (2002 loss of £22m) and loss on sale of fixed assets £9m (2002 loss of £1m). | |||||||||
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In 2004 the Group will revise the segmental analysis such that the Diesels business, which is currently included in the Energy segment, will be included in the Marine segment. |
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| This change will align the reporting with how the business is to be managed. Under this basis the 2003 segmental analysis would be as follows: |
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Group turnover £m |
Underlying profit before interest £m |
| Civil aerospace | 2,694 | 131 |
| Defence | 1,398 | 147 |
| Marine | 1,003 | 78 |
| Energy | 508 | 23 |
| Financial services | 42 | (4) |
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5,645 | 375 |