Details for (GKN) / Market data / Selftrade

GKN

(GKN GB0030646508 GBX)

Value 184.300

Change Today -8.10

Updated17/05 16:35

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PROFILE

Registered Number	4191106
Registered Address	PO Box 55 Ipsley House; Ipsley Church Lane Redditch Worcestershire B98 0TL
Head Office	50 Pall Mall London B98 0TL
Phone Number	+44 (0) 207 9302424
Fax Number
Website	http://www.gkn.com
Activities	Manufactures automotive drive line systems and engineered products
Country of Register	GB
Currency	GBX
Short Name	GKN
First Day Traded	21/06/2004
Industrial Sector	Auto Parts
Number of shares	1.55b

Key People

Roy Brown	Chairman
Michael Turner	Chairman
Kevin Smith	Chief Executive Officer
William Seeger	Financial Director
Tufan Erginbilgic	Non Executive Director
Shonaid Jemmett-Page	Director
Richard Parry-Jones	Non Executive Director
Nigel Stein	Director
Helmut Mamsch	Non Executive Director
John Sheldrick	Non Executive Director
Marcus Bryson	Director
Christopher Meyer	Non Executive Director

Major Shareholders

Standard Life Investments Ltd.	11.04%
Threadneedle Asset Management Ltd.	5.12%

Director Deals

Director	Date	Buy/Sell	Quantity	Price
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Income Statements £1K

	AR 2007	AR 2008	AR 2009	AR 2010	AR 2011
Fiscal Year End	31/12/2007	31/12/2008	31/12/2009	31/12/2010	31/12/2011
Duration (months)	12	12	12	12	12
Accounting Format	IFRS	IFRS	IFRS	IFRS	IFRS
Sales/Revenue	3,869	4,376	4,223	5,084	5,746
Cost of Goods Sold (COGS) incl. D&A	2,707	3,177	2,112	2,346	4,335
COGS excluding D&A	2,549	2,992	1,884	2,126	4,112
Depreciation & Amortization Expense	158	185	228	220	223
Depreciation	141	165	193	191	191
Amortization of Intangibles	17	20	35	29	32
Amortization of Deferred Charges	0	0	0	0	0
Gross Income	1,162	1,199	2,111	2,738	1,411
Selling, General & Administrative Expense	0	0	1,224	1,398	0
Research & Development	0	0	0	0	0
Other Selling, General & Administrative	0	0	1,224	1,398	0
Other Operating Expense	889	1,007	785	911	1,005
Non Operating Income/Expense	-11	0	-40	-46	-11
Non-Operating Interest Income	19	19	3	6	5
Equity in Affiliates (Pretax)	0	0	0	0	0
EBIT	0	0	0	0	0
Unusual Expense	46	293	70	33	40
EBIT after Unusual Expense	0	0	-70	-33	0
Interest Expense	62	66	67	46	47
Gross Interest Expense	62	66	67	46	47
Interest Capitalized	0	0	0	0	0
Pretax Income	175	-146	-72	310	313
Income Tax	1	-10	-15	20	45
Income Tax - Current Domestic	36	-10	0	73	93
Income Tax - Current Foreign	0	0	0	0	0
Income Tax - Deferred Domestic	-35	0	0	-53	-48
Income Tax - Deferred Foreign	0	0	0	0	0
Income Tax Credits	0	0	0	0	0
Minority Interest Expense	2	2	2	20	27
Equity in Affiliates	24	16	18	35	38
Other After Tax Income (Expense)	0	0	0	0	0
Net Income	196	-122	-41	305	279
Extraordinaries & Discontinued Operations	0	13	5	0	0
Extra Items & Gain/Loss Sale Of Assets	0	13	5	0	0
Cumulative Effect - Accounting Chg	0	0	0	0	0
Discontinued Operations	0	0	0	0	0
Net Income After Extraordinaries	196	-109	-36	305	279
Preferred Dividends	0	0	0	0	0
Net Income available to Common	196	-122	-41	305	279
Operational EPS	21.81	7.95	0.63	21.12	19.69
EPS (basic)	18.83	-11.68	-3.20	19.60	18.00
EPS (diluted)	18.73	-11.67	-3.22	19.64	17.89
EBITDA	431	377	330	649	629
EBIT	0	0	0	0	0
+Depreciation & Amortization Expense	158	185	228	220	223

Balance Sheet £1K

	AR 2007	AR 2008	AR 2009	AR 2010	AR 2011
Fiscal Year End	31/12/2007	31/12/2008	31/12/2009	31/12/2010	31/12/2011
Duration (months)	12	12	12	12	12
Accounting Format	IFRS	IFRS	IFRS	IFRS	IFRS
Cash & Short Term Investments	307	176	342	455	161
Cash Only	282	114	336	442	150
Short-Term Investments	25	62	6	13	11
Total Accounts Receivable	559	646	642	755	957
Accounts Receivables, Net	509	550	547	664	840
Accounts Receivables, Gross	515	559	555	674	852
Bad Debt/Doubtful Accounts	-6	-9	-8	-10	-12
Other Receivables	50	96	95	91	117
Inventories	552	718	563	637	749
Finished Goods	112	161	109	124	152
Work in Progress	176	242	188	208	242
Raw Materials	264	315	266	305	355
Progress Payments & Other	0	0	0	0	0
Other Current Assets	14	16	15	17	21
Prepaid Expenses	14	16	15	17	21
Miscellaneous Current Assets	0	0	0	0	0
Total Current Assets	1,432	1,556	1,562	1,864	1,888
Net Property, Plant & Equipment	1,462	1,797	1,636	1,651	1,812
Property, Plant & Equipment - Gross	3,399	4,562	4,306	4,462	4,669
Buildings	521	696	660	693	744
Land & Improvements	0	0	0	0	0
Machinery & Equipment	0	0	0	0	0
Construction in Progress	105	123	82	91	130
Leases	0	0	0	0	0
Computer Software and Equipment	0	0	0	0	0
Leased Property	0	0	0	0	0
Transportation Equipment	0	0	0	0	0
Other Property, Plant & Equipment	2,773	3,743	3,564	3,678	3,795
Accumulated Depreciation	1,937	2,765	2,670	2,811	2,857
Buildings	115	184	185	208	221
Land & Improvements	0	0	0	0	0
Machinery & Equipment	0	0	0	0	0
Construction in Progress	0	0	0	0	0
Leases	0	0	0	0	0
Computer Software and Equipment	0	0	0	0	0
Leased Property	0	0	0	0	0
Transportation Equipment	0	0	0	0	0
Other Property, Plant & Equipment	1,822	2,581	2,485	2,603	2,636
Total Investments and Advances	100	119	128	162	168
LT Investment - Affiliate Companies	100	119	112	143	147
Other Long-Term Investments	0	0	16	19	21
Long-Term Note Receivable	22	23	24	23	37
Intangible Assets	416	520	525	550	958
Net Goodwill	280	367	338	350	534
Net Other Intangibles	136	153	187	200	424
Other Assets	0	0	0	0	0
Deferred Charges	0	0	0	0	0
Tangible Other Assets	0	0	0	0	0
Total Assets	3,488	4,067	3,946	4,421	5,087
ST Debt & Curr. Portion LT Debt	92	97	72	61	228
Short Term Debt	88	87	71	60	227
Current Portion of Long Term Debt	4	10	1	1	1
Accounts Payable	602	685	600	766	975
Income Tax Payable	104	115	79	100	138
Other Current Liabilities	310	526	371	369	409
Dividends Payable	0	0	0	0	0
Accrued Payroll	0	0	0	0	0
Miscellaneous Current Liabilities	310	526	371	369	409
Total Current Liabilities	1,108	1,423	1,122	1,296	1,750
Long-Term Debt	696	725	564	532	466
Long-Term Debt excl. Capitalized Leases	685	721	561	530	464
Non-Convertible Debt	685	721	561	530	464
Convertible Debt	0	0	0	0	0
Capitalized Lease Obligations	11	4	3	2	2
Provision for Risks & Charges	382	888	1,083	674	959
Deferred Taxes	19	11	-14	-108	-128
Deferred Taxes - Credit	75	63	57	63	96
Deferred Taxes - Debit	-56	-52	-71	-171	-224
Accumulated Minority Interest	19	23	24	374	372
Other Liabilities	26	35	143	165	186
Deferred Tax Liability-Untaxed Reserves	0	0	0	0	0
Other Liabilities (excl. Deferred Income)	26	35	143	165	186
Deferred Income	0	0	0	0	0
Total Liabilities	2,287	3,134	2,969	2,730	3,457
Non-Equity Reserves	5	5	5	4	6
Preferred Stock (Carrying Value)	0	0	298	0	0
Redeemable Preferred Stock	0	0	0	0	0
Non-Redeemable Preferred Stock	0	0	298	0	0
Preferred Stock issues for ESOP	0	0	0	0	0
ESOP Guarantees - Preferred Stock	0	0	0	0	0
Common Equity (total)	1,177	905	650	1,313	1,252
Common Stock Par/Carry Value	372	372	159	159	159
Additional Paid-In Capital/Capital Surplus	29	29	9	9	9
Retained Earnings	834	389	431	788	760
ESOP Debt Guarantee	0	0	0	0	0
Cumulative Translation Adjustment/Unrealized For. Exch. Gain	-17	295	146	192	159
Unrealized Gain/Loss Marketable Securities	0	0	0	0	0
Revaluation Reserves	0	0	0	0	0
Other Appropriated Reserves	-41	-81	-95	165	165
Unappropriated Reserves	0	0	0	0	0
Treasury Stock	0	-99	0	0	0
Total Shareholders' Equity	1,177	905	948	1,313	1,252
Liabilities & Shareholders' Equity	3,488	4,067	3,946	4,421	5,087

Cash Flow £1K

	AR 2007	AR 2008	AR 2009	AR 2010	AR 2011
Fiscal Year End	31/12/2007	31/12/2008	31/12/2009	31/12/2010	31/12/2011
Duration (months)	12	12	12	12	12
Accounting Format	IFRS	IFRS	IFRS	IFRS	IFRS
Net Income before Extraordinaries	221	-86	39	385	374
Depreciation, Depletion & Amortization	158	185	228	203	202
Depreciation and Depletion	141	165	193	191	191
Amortization of Intangible Assets	17	20	35	12	11
Deferred Taxes & Investment Tax Credit	0	0	0	0	0
Deferred Taxes	0	0	0	0	0
Investment Tax Credit	0	0	0	0	0
Other Funds	-90	165	-173	-496	-33
Funds from Operations	289	264	94	92	543
Extraordinaries	0	0	0	0	0
Changes in Working Capital	-49	-5	133	-59	-89
Receivables	0	0	-36	-117	-109
Inventories	0	0	133	-63	-60
Accounts Payable	0	0	0	121	80
Income Taxes Payable	0	0	0	0	0
Other Accruals	0	0	0	0	0
Other Assets/Liabilities	0	0	36	0	0
Net Operating Cash Flow	240	259	227	33	454
Capital Expenditures	192	205	154	193	282
Capital Expenditures (Fixed Assets)	192	192	140	162	236
Capital Expenditures (Other Assets)	0	13	14	31	46
Net Assets from Acquisitions	-71	-1	-99	-6	-450
Sale of Fixed Assets & Businesses	21	7	35	10	13
Purchase/Sale of Investments	0	17	-1	-9	0
Purchase of Investments	0	-1	-2	-10	-8
Sale/Maturity of Investments	0	18	1	1	8
Other Uses	0	0	-11	-8	0
Other Sources	7	2	29	13	1
Net Investing Cash Flow	-235	-180	-201	-193	-718
Cash Dividends Paid - Total	-91	-97	0	-23	-85
Common Dividends	-91	-97	0	-23	-85
Preferred Dividends	0	0	0	0	0
Change in Capital Stock	5	1	403	0	0
Repurchase of Common & Preferred Stk.	0	0	0	0	0
Sale of Common & Preferred Stock	5	1	403	0	0
Proceeds from Stock Options	5	1	403	0	0
Other Proceeds from Sale of Stock	0	0	0	0	0
Issuance/Reduction of Debt, Net	-5	58	-233	0	105
Change in Current Debt	0	-12	-8	11	0
Change in Long-Term Debt	-5	70	-225	-11	105
Issuance of Long-Term Debt	13	112	148	38	115
Reduction in Long-Term Debt	-18	-42	-373	-49	-10
Other Funds	-1	-233	-1	320	-30
Other Uses	-1	-233	-1	-31	-34
Other Sources	0	0	0	351	4
Net Financing Cash Flow	-92	-271	169	297	-10
Exchange Rate Effect	9	24	-9	7	-2
Miscellaneous Funds	0	0	0	0	0
Net Change in Cash	-78	-168	186	144	-276
Free Cash Flow	-43	-30	87	-152	133

Analysis Data

	2007	2008	2009	2010	2011
Fiscal Year End	2007-12-31	2008-12-31	2009-12-31	2010-12-31	2011-12-31
Valuation
Market Capitalisation	1,988.21	684.35	1,771.31	3,450.69	2,842.25
Price/Earnings	10.11	0.00	0.00	11.34	10.17
Price/Sales	0.51	0.16	0.35	0.68	0.49
Price/Book Value	1.69	0.76	2.73	2.63	2.27
Price/Cash Flow	8.30	2.64	6.55	104.59	6.29
Enterprise Value/EBIT	9.13	7.05	20.63	9.24	9.26
Enterprise Value/EBITDA	5.78	3.59	6.38	6.11	5.98
Enterprise Value/Sales	0.64	0.31	0.50	0.78	0.65
Total Debt/Enterprise Value	0.32	0.61	0.30	0.15	0.18
Total Debt/EBITDA	1.83	2.18	1.93	0.91	1.10
EPS (basic)	18.83	-11.68	-3.20	19.60	18.00
EPS (diluted) as stated	18.73	-11.67	-3.22	19.64	17.89
Profitability
Gross Margin (%)	30.03	27.40	49.99	53.86	24.56
Operating Margin (%)	7.06	4.39	2.42	8.44	7.07
Pretax Margin (%)	4.52	-3.34	-1.70	6.10	5.45
Net Margin (%)	5.07	-2.79	-0.97	6.00	4.86
Return on Assets (%)	5.78	-3.23	-1.02	7.29	5.87
Return on Equity (%)	18.95	-11.72	-4.43	26.98	21.75
Return on Avg. Total Capital (%)	10.81	-6.61	-2.48	17.48	14.49
Return on Avg. Invested Capital (%)	11.22	-6.97	-2.61	18.17	15.66
Efficiency
Revenue/Employee	0.10	0.11	0.12	0.14	0.16
Receivables Turnover	7.28	7.26	6.56	7.28	6.71
Days of Sales Outstanding (DSO) (%)	50.14	50.25	55.66	50.15	54.38
Inventory Turnover	5.30	5.00	3.30	3.91	6.26
Days of Inventory on Hand (DIO)	68.90	72.95	110.69	93.35	58.35
Total Asset Turnover	1.14	1.16	1.05	1.22	1.21
Working Capital Turnover	11.94	32.90	9.60	8.95	41.64
Liquidity
Current Ratio	1.29	1.09	1.39	1.44	1.08
Quick Ratio	0.79	0.59	0.89	0.95	0.65
Capital Structure
Debt-to-Total Equity (%)	66.95	90.83	67.09	45.16	55.43
Debt-to-Total Capital (%)	40.10	47.60	40.15	31.11	35.66
Debt-to-Total Assets (%)	22.59	20.21	16.12	13.41	13.64
Interest Coverage	4.40	2.91	1.52	9.33	8.64

Market data

Name	Latest	Var
FTSE 100	5,338.38(c)	-1.24%
FTSE 250	10,592.94(c)	-0.77%
DOW INDUSTRIALS	12,442.57	-1.24%
HONG KONG HANG SENG INDIC	19,200.93	+0.00%
Nikkei 225	8,876.59(c)	+0.00%

Name	Latest	Var
RANDGOLD RES.	4,855.00(c)	+4.63%
ICAP	342.00(c)	+1.63%
NATIONAL GRID	675.00(c)	+1.43%
ANTOFAGASTA	1,026.00(c)	+1.38%
CENTRICA	311.90(c)	+1.10%

Name	Latest	Var
INTL. CONS. AIR GRP	143.50(c)	-6.02%
AVIVA	267.70(c)	-4.70%
GKN	184.30(c)	-4.21%
HARGREAVES LANS	480.70(c)	-4.15%
MAN GROUP	78.55(c)	-4.09%

Buys

Name	Latest	Var
AVIVA	267.70(c)	-4.70%
LAMPRELL	128.50(c)	+1.18%
RED EMPEROR RES	18.00(c)	-41.46%
LLOYDS GRP.	27.65(c)	-3.56%
RANGE RES.	7.25(c)	-16.47%

Sells

Name	Latest	Var
RED EMPEROR RES	18.00(c)	-41.46%
RANGE RES.	7.25(c)	-16.47%
BP	396.65(c)	-0.75%
AVIVA	267.70(c)	-4.70%
VODAFONE GRP.	165.90(c)	-1.19%

Selftrade is a trading name and Selftrade® a registered trademark of Talos Securities Limited, which is authorised and regulated by the Financial Services Authority (FSA Register number 208271) and is a member of the London Stock Exchange and PLUS Markets. Talos Securities Ltd is incorporated in England and Wales (Registration No. 4196325, Registered Address: Boatman's House, 2 Selsdon Way, London E14 9LA). VAT No. 629 2807 22.

Data: include Bondscape, Dow Jones, Factset, FTSE, Morningstar. Conditions may apply.

GKN

PROFILE

Key People

Major Shareholders

Director Deals

Income Statements £1K

Balance Sheet £1K

Cash Flow £1K

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