Details for (MGGT) / Market data / Selftrade

MEGGITT

(MGGT GB0005758098 GBX)

Value 375.400

Change Today 0.00

Updated18/05 16:35

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PROFILE

Registered Number	432989
Registered Address	Atlantic House Aviation Park West Bournemouth International Airport Christchurch; Dorset BH23 6EW
Phone Number	+44 (0) 1202 597597
Fax Number
Website	http://www.meggitt.com
Activities	Manufactures and develops aerospace equipment sensors defence training and combat systems
Country of Register	GB
Currency	GBX
Short Name	MEGGITT
First Day Traded	31/10/2003
Industrial Sector	Aerospace
Number of shares	779m

Key People

Sir Colin Terry	Chairman
Colin Terry	Chairman
Terry Twigger	Chief Executive Officer
Stephen Young	Financial Director
Philip Green	Director
Paul Heiden	Non Executive Director
Brenda Reichelderfer	Non Executive Director
David Robins	Non Executive Director
Alan Cox	Non Executive Director

Major Shareholders

M&G Investment Management Ltd.	8.31%
Fidelity Management & Research Co.	4.47%

Director Deals

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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	878.20	1,162.60	1,150.50	1,162	1,455.30
Cost of Goods Sold (COGS) incl. D&A	493.40	637.80	656.30	639.80	828.50
COGS excluding D&A	421.60	529	529.90	514.40	684.40
Depreciation & Amortization Expense	71.80	108.80	126.40	125.40	144.10
Depreciation	18.80	26.60	29.50	28.80	32.20
Amortization of Intangibles	53	82.20	96.90	96.60	111.90
Amortization of Deferred Charges	0	0	0	0	0
Gross Income	384.80	524.80	494.20	522.20	626.80
Selling, General & Administrative Expense	143.50	149.80	131.80	128	344.40
Research & Development	34.30	35.70	30.90	34	41.70
Other Selling, General & Administrative	109.20	114.10	100.90	94	302.70
Other Operating Expense	90.80	197.70	149.20	177.30	0
Non Operating Income/Expense	0.80	10.90	-10.20	-7.20	-2.80
Non-Operating Interest Income	32.70	33.90	1.50	1.40	1.20
Equity in Affiliates (Pretax)	0	0	0	0	0
EBIT	0	0	0	0	0
Unusual Expense	8.60	15.80	-15.70	0	21.90
EBIT after Unusual Expense	0	0	0	0	0
Interest Expense	70	87	39.40	38.60	32.90
Gross Interest Expense	70	87	39.40	38.60	32.90
Interest Capitalized	0	0	0	0	0
Pretax Income	105.40	119.30	180.80	172.50	226
Income Tax	16.10	20.20	42	33.70	41.10
Income Tax - Current Domestic	33.50	42.90	23.60	45.70	36
Income Tax - Current Foreign	0	0	0	0	0
Income Tax - Deferred Domestic	-17.40	-22.70	18.40	-12	5.10
Income Tax - Deferred Foreign	0	0	0	0	0
Income Tax Credits	0	0	0	0	0
Minority Interest Expense	0	0	0	0	0
Equity in Affiliates	0	0	0	0	0
Other After Tax Income (Expense)	0	0	0	0	0
Net Income	89.30	99.10	138.80	138.80	184.90
Extraordinaries & Discontinued Operations	0	0	0	0	0
Extra Items & Gain/Loss Sale Of Assets	0	0	0	0	0
Cumulative Effect - Accounting Chg	0	0	0	0	0
Discontinued Operations	0	0	0	0	0
Net Income After Extraordinaries	89.30	99.10	138.80	138.80	184.90
Preferred Dividends	0	0	0	0	0
Net Income available to Common	89.30	99.10	138.80	138.80	184.90
Operational EPS	15.48	16.62	18.88	19.85	25.81
EPS (basic)	14.60	15.00	20.50	20.10	24.00
EPS (diluted)	14.50	14.95	20.51	19.85	23.83
EBITDA	222.30	286.10	339.60	342.30	426.50
EBIT	0	0	0	0	0
+Depreciation & Amortization Expense	71.80	108.80	126.40	125.40	144.10

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	68.50	68.30	67.40	58.10	98.70
Cash Only	64.90	67.30	62.90	51.90	80.60
Short-Term Investments	3.60	1	4.50	6.20	18.10
Total Accounts Receivable	216.70	279.80	203.80	230.30	309.20
Accounts Receivables, Net	169.20	236.30	166.40	194	271.30
Accounts Receivables, Gross	169.20	236.30	169.90	197.90	278.50
Bad Debt/Doubtful Accounts	0	0	-3.50	-3.90	-7.20
Other Receivables	47.50	43.50	37.40	36.30	37.90
Inventories	204.60	273.10	236.50	239.10	277.50
Finished Goods	45.10	47.80	41.70	41	53.50
Work in Progress	76.70	109.80	85.50	99.10	118.60
Raw Materials	82.80	115.50	109.30	99	105.40
Progress Payments & Other	0	0	0	0	0
Other Current Assets	5.70	7.80	7.70	8.90	10.80
Prepaid Expenses	0	0	0	0	0
Miscellaneous Current Assets	5.70	7.80	7.70	8.90	10.80
Total Current Assets	495.50	629	515.40	536.40	696.20
Net Property, Plant & Equipment	195.40	245.20	215.90	207.10	229.90
Property, Plant & Equipment - Gross	415.80	503.90	473.70	487.30	537
Buildings	122.30	154.80	145.30	151.40	164.80
Land & Improvements	0	0	0	0	0
Machinery & Equipment	293.50	349.10	328.40	335.90	372.20
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	0	0	0	0	0
Accumulated Depreciation	220.40	258.70	257.80	280.20	307.10
Buildings	24.20	34.70	35.20	43	50.40
Land & Improvements	0	0	0	0	0
Machinery & Equipment	196.20	224	222.60	237.20	256.70
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	0	0	0	0	0
Total Investments and Advances	0	1.60	1.90	12	39.70
LT Investment - Affiliate Companies	0	0	0	0	0
Other Long-Term Investments	0	1.60	1.90	12	39.70
Long-Term Note Receivable	14.40	19.30	36.20	88.60	114.70
Intangible Assets	1,992.90	2,562.50	2,310.30	2,352.70	2,595.60
Net Goodwill	1,071.20	1,382.70	1,261.90	1,295.50	1,544
Net Other Intangibles	921.70	1,179.80	1,048.40	1,057.20	1,051.60
Other Assets	14.50	0	0	0	197.50
Deferred Charges	0	0	0	0	197.50
Tangible Other Assets	14.50	0	0	0	0
Total Assets	2,754.10	3,570	3,250.30	3,301.80	3,986.10
ST Debt & Curr. Portion LT Debt	17.20	14.50	10.50	13.50	7.70
Short Term Debt	0	0	0	0	0
Current Portion of Long Term Debt	17.20	14.50	10.50	13.50	7.70
Accounts Payable	79.40	101.90	69.20	89.20	142.40
Income Tax Payable	43.10	37.10	34.60	60.80	49.40
Other Current Liabilities	166.30	284.40	223	205.40	270.40
Dividends Payable	0	0	0	0	0
Accrued Payroll	0	0	0	0	0
Miscellaneous Current Liabilities	166.30	284.40	223	205.40	270.40
Total Current Liabilities	306	437.90	337.30	368.90	469.90
Long-Term Debt	863.10	1,100.70	861	759.80	875.30
Long-Term Debt excl. Capitalized Leases	858.10	1,094.50	856.40	755.90	867.10
Non-Convertible Debt	858.10	1,094.50	856.40	755.90	867.10
Convertible Debt	0	0	0	0	0
Capitalized Lease Obligations	5	6.20	4.60	3.90	8.20
Provision for Risks & Charges	225.80	305.20	351.50	380.40	520.10
Deferred Taxes	235.10	247.50	222.60	224.60	204.30
Deferred Taxes - Credit	276.50	359.90	393.20	329.60	316.80
Deferred Taxes - Debit	-41.40	-112.40	-170.60	-105	-112.50
Accumulated Minority Interest	0	0	0	0	0
Other Liabilities	19.30	79.90	33.70	24.90	10.70
Deferred Tax Liability-Untaxed Reserves	0	0	0	0	0
Other Liabilities (excl. Deferred Income)	19.30	79.90	33.70	24.90	10.70
Deferred Income	0	0	0	0	0
Total Liabilities	1,690.70	2,283.60	1,976.70	1,863.60	2,192.80
Non-Equity Reserves	0	0	0	0	0
Preferred Stock (Carrying Value)	0	0	0	0	0
Redeemable Preferred Stock	0	0	0	0	0
Non-Redeemable Preferred Stock	0	0	0	0	0
Preferred Stock issues for ESOP	0	0	0	0	0
ESOP Guarantees - Preferred Stock	0	0	0	0	0
Common Equity (total)	1,063.40	1,286.40	1,273.60	1,438.20	1,793.30
Common Stock Par/Carry Value	32.90	33.30	34.30	34.90	38.90
Additional Paid-In Capital/Capital Surplus	781.60	798.80	825.90	859.40	1,130.10
Retained Earnings	241.60	244.50	282	370.70	432.40
ESOP Debt Guarantee	0	0	0	0	0
Cumulative Translation Adjustment/Unrealized For. Exch. Gain	-6.80	195.70	117.30	159.10	177.80
Unrealized Gain/Loss Marketable Securities	0	0	0	0	0
Revaluation Reserves	0	0	0	0	0
Other Appropriated Reserves	0	0	0	0	0
Unappropriated Reserves	14.10	14.10	14.10	14.10	14.10
Treasury Stock	0	0	0	0	0
Total Shareholders' Equity	1,063.40	1,286.40	1,273.60	1,438.20	1,793.30
Liabilities & Shareholders' Equity	2,754.10	3,570	3,250.30	3,301.80	3,986.10

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	89.30	99.10	138.80	138.80	184.90
Depreciation, Depletion & Amortization	71.80	108.80	126.40	125.40	144.10
Depreciation and Depletion	18.80	26.60	29.50	28.80	32.20
Amortization of Intangible Assets	53	82.20	96.90	96.60	111.90
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	8.20	41.90	-39.80	12.10	-25.20
Funds from Operations	169.30	249.80	225.40	276.30	303.80
Extraordinaries	0	0	0	0	0
Changes in Working Capital	-12.40	-47.40	13.50	-24.30	1.60
Receivables	-11.70	-18.30	40	-77.70	-59
Inventories	14.70	-9.60	14.20	4.70	6.40
Accounts Payable	-11.90	15.70	-46.10	3.40	35.90
Income Taxes Payable	0	0	0	0	0
Other Accruals	0	0	0	0	0
Other Assets/Liabilities	-3.50	-35.20	5.40	45.30	18.30
Net Operating Cash Flow	156.90	202.40	238.90	252	305.40
Capital Expenditures	86.30	100.30	84.60	89.60	126.50
Capital Expenditures (Fixed Assets)	40.50	35.10	18.50	14	27
Capital Expenditures (Other Assets)	45.80	65.20	66.10	75.60	99.50
Net Assets from Acquisitions	-552.10	-9.20	-1	0	-418.10
Sale of Fixed Assets & Businesses	2.60	20.30	1	0.20	8
Purchase/Sale of Investments	0	0	0	0	0
Purchase of Investments	0	0	0	0	0
Sale/Maturity of Investments	0	0	0	0	0
Other Uses	0	0	0	0	0
Other Sources	0	0	0	0	0
Net Investing Cash Flow	-635.80	-89.20	-84.60	-89.40	-536.60
Cash Dividends Paid - Total	-35.60	-40.30	-29.60	-29.70	-48.40
Common Dividends	-35.60	-40.30	-29.60	-29.70	-48.40
Preferred Dividends	0	0	0	0	0
Change in Capital Stock	430	2.10	1.30	4.20	249.50
Repurchase of Common & Preferred Stk.	0	0	0	0	0
Sale of Common & Preferred Stock	430	2.10	1.30	4.20	249.50
Proceeds from Stock Options	430	2.10	1.30	4.20	249.50
Other Proceeds from Sale of Stock	0	0	0	0	0
Issuance/Reduction of Debt, Net	111.10	-74	-126.20	-148.60	74
Change in Current Debt	0	0	0	0	0
Change in Long-Term Debt	111.10	-74	-126.20	-148.60	74
Issuance of Long-Term Debt	517.10	8.10	256.20	393.70	211.40
Reduction in Long-Term Debt	-406	-82.10	-382.40	-542.30	-137.40
Other Funds	0	0	0	0	0
Other Uses	0	0	0	0	0
Other Sources	0	0	0	0	0
Net Financing Cash Flow	505.50	-112.20	-154.50	-174.10	275.10
Exchange Rate Effect	-5.30	1.40	-4.20	0.50	-1.20
Miscellaneous Funds	-0.00	0.00	-0.00	0	-0.00
Net Change in Cash	21.30	2.40	-4.40	-11	42.70
Free Cash Flow	80.80	127	190.80	208.30	230

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	2,190.49	1,063.30	1,781.78	2,582.60	2,747.61
Price/Earnings	22.79	10.65	12.68	18.41	14.70
Price/Sales	2.32	0.91	1.53	2.20	1.87
Price/Book Value	2.06	0.83	1.40	1.80	1.53
Price/Cash Flow	13.06	5.23	7.37	10.27	8.96
Enterprise Value/EBIT	19.01	11.88	12.03	15.23	12.47
Enterprise Value/EBITDA	12.87	7.36	7.55	9.65	8.26
Enterprise Value/Sales	3.26	1.81	2.23	2.84	2.42
Total Debt/Enterprise Value	0.31	0.53	0.34	0.23	0.25
Total Debt/EBITDA	3.96	3.90	2.57	2.26	2.07
EPS (basic)	14.60	15.00	20.50	20.10	24.00
EPS (diluted) as stated	14.50	14.95	20.51	19.85	23.83
Profitability
Gross Margin (%)	43.82	45.14	42.96	44.94	43.07
Operating Margin (%)	17.14	15.25	18.53	18.67	19.40
Pretax Margin (%)	12.00	10.26	15.71	14.85	15.53
Net Margin (%)	10.17	8.52	12.06	11.94	12.71
Return on Assets (%)	4.31	3.13	4.07	4.24	5.07
Return on Equity (%)	10.99	8.43	10.84	10.24	11.44
Return on Avg. Total Capital (%)	6.15	4.56	6.11	6.37	7.57
Return on Avg. Invested Capital (%)	6.23	4.59	6.14	6.41	7.60
Efficiency
Revenue/Employee	0.12	0.14	0.15	0.16	0.16
Receivables Turnover	4.57	4.68	4.76	5.35	5.39
Days of Sales Outstanding (DSO) (%)	79.84	77.94	76.71	68.18	67.66
Inventory Turnover	2.75	2.67	2.58	2.69	3.21
Days of Inventory on Hand (DIO)	132.79	136.69	141.71	135.66	113.80
Total Asset Turnover	0.42	0.37	0.34	0.35	0.40
Working Capital Turnover	4.63	6.08	6.46	6.94	6.43
Liquidity
Current Ratio	1.62	1.44	1.53	1.45	1.48
Quick Ratio	0.95	0.81	0.83	0.81	0.89
Capital Structure
Debt-to-Total Equity (%)	82.78	86.69	68.43	53.77	49.24
Debt-to-Total Capital (%)	45.29	46.44	40.63	34.97	32.99
Debt-to-Total Assets (%)	31.96	31.24	26.81	23.42	22.15
Interest Coverage	2.15	2.04	5.41	5.62	8.58

Market data

Name	Latest	Var
FTSE 100	5,267.62(c)	+0.00%
FTSE 250	10,431.90(c)	+0.00%
DOW INDUSTRIALS	12,369.38(c)	-0.59%
HONG KONG HANG SENG INDIC	18,835.33	-0.61%
Nikkei 225	8,633.89(c)	+0.26%

Name	Latest	Var

Name	Latest	Var

Buys

Name	Latest	Var
AVIVA	264.90(c)	-1.05%
RED EMPEROR RES	14.88(c)	-17.36%
LLOYDS GRP.	25.95(c)	-6.15%
BP	391.95(c)	-1.18%
VODAFONE GRP.	164.30(c)	-0.96%

Sells

Name	Latest	Var
LLOYDS GRP.	25.95(c)	-6.15%
RED EMPEROR RES	14.88(c)	-17.36%
PV CRYSTALOX	9.45(c)	+121.31%
BARCLAYS	176.10(c)	-3.19%
AVIVA	264.90(c)	-1.05%

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.

MEGGITT

PROFILE

Key People

Major Shareholders

Director Deals

Income Statements £1K

Balance Sheet £1K

Cash Flow £1K

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