Five Year Record

Results
Year ended 31 December 2005 (restated) (i),(iii),(iv)
£m
2006 (restated) (i),(iii),(iv)
£m
2007 (restated) (i),(iii),(iv)
£m
2008 (restated) (i),(ii),(iii),(iv)
£m
2009
£m
  1. Group revenue and cost of sales have been restated to report gas sales revenue of Centrica Storage net of cost of sales to better reflect the nature of the transactions, as explained in note 2.
  2. Restated to capitalise borrowing costs on the adoption of IAS 23 (Amendment), as explained in note 2.
  3. Restated to reflect the change in British Gas Services Limited’s revenue recognition policy, as explained in note 2.
  4. Restated to present the European Energy segment, with the exception of the Group’s operations in Germany, as a discontinued operation, as explained in note 38. The operating profit of the Group’s operations in Germany is reported within the Upstream UK – Industrial and commercial segment. Also restated to present the operating profit of British Gas New Energy within Downstream UK – Residential energy supply and to include the operating profit of joint ventures and associates pre-interest and tax.
  5. Discontinued in 2009.
  6. Discontinued in 2007.
  7. Discontinued in 2005.
  8. Adjusted earnings per ordinary share excludes depreciation of fair value uplifts to property, plant and equipment from Strategic Investments after taxation and certain re-measurements and exceptional items.
  9. Figures for 2005 through to 2007 have been adjusted to reflect the bonus element of the Rights Issue. Details of the Rights Issue are provided in notes 30 and 32.
  10. Restated to classify the non-current portions of derivative financial instruments from current assets and liabilities to non-current assets and liabilities, as explained in note 2. 2005 and 2006 have not been restated on this basis as it is considered impracticable to do so.
Group revenue from continuing operations (i), (iii), (iv) 13,274 16,065 15,893 20,872 21,963
Operating profit from continuing operations before exceptional items and certain re-measurements (iv):          
Downstream UK 278 284 840 712 1,011
Upstream UK 863 686 663 881 525
Storage UK 154 228 240 195 168
North America 147 173 187 215 153
Adjusted operating profit – operating profit before exceptional items, certain re-measurements and impact from fair value uplifts from Strategic Investments 1,442 1,371 1,930 2,003 1,857
Share of joint ventures’ and associates’ interest and taxation (iv) 40 (1) (2) (3) (11)
Other 7 13 1 (8) (5)
Depreciation of fair value uplifts to property, plant and equipment (27)
  1,489 1,383 1,929 1,992 1,814
Operating profit/(loss) from discontinued operations:          
European operations (v) (14) 9 20 (52) 105
The Consumers’ Waterheater Income Fund (vi) 38 50 39
OneTel (vii) 12 (11)
Exceptional items and certain re-measurements after taxation 340 (862) 383 (1,048) (288)
Profit/(loss) attributable to equity holders of the parent 1,012 (155) 1,505 (137) 844
  Pence Pence Pence Pence Pence
Earnings/(loss) per ordinary share (ii), (iii), (ix) 24.4 (3.8) 36.5 (3.3) 16.5
Adjusted basic earnings per ordinary share (ii), (iii), (viii), (ix) 16.2 17.3 27.2 21.7 21.7
           
Assets and liabilities
At 31 December 2005 (restated)
(iii)
£m
2006 (restated)
(iii)
£m
2007 (restated)
(iii),(x)
£m
2008 (restated)
(ii),(iii),(x)
£m
2009
£m
Goodwill and other intangible assets 1,739 1,501 1,539 2,181 2,822
Other non-current assets 4,490 4,171 4,942 6,341 9,650
Net current assets/(liabilities) 644 (134) 747 2,163 330
Non-current liabilities (4,453) (3,918) (3,868) (6,313) (8,675)
Net assets of disposal groups held for sale 128
Net assets 2,420 1,620 3,360 4,372 4,255
Debt, net of cash, cash equivalents and securities:          
Net debt (excluding non-recourse debt) (1,060) (1,527) (795) (511) (3,136)
The Consumers’ Waterheater Income Fund (non-recourse) debt (532) (483)
  (1,592) (2,010) (795) (511) (3,136)
           
Cash flows
Year ended 31 December 2005
£m
2006
£m
2007
£m
2008
£m
2009
£m
Cash flow from operating activities before exceptional payments 1,192 850 2,447 371 2,850
Payments relating to exceptional charges (48) (113) (90) (74) (203)
Net cash flow from investing activities (529) (720) (964) (1,122) (4,520)
Cash flow before cash flow from financing activities 615 17 1,393 (825) (1,873)