Financial performance

Highlights of the 2012 results

(For Coats Group Limited, as released by Guinness Peat Group plc on 27 February 2013)

• Total sales revenue of $1,653m
   
• Pre exceptional operating profit of $127m

• Trading remained largely as anticipated – despite tough market conditions
   
• Reported full year sales down 3% but up 2% on constant currency basis
   
• H2 2012 saw improvement in revenue (4%¹) and operating profit (16%¹) on H2 2011. Operating margins rose from 7.2% to 8.0%

• Reorganisation activity on track
   
• Overall net cash outflows on accelerated reorg projects to be largely offset by disposal proceeds (before tax) of approx. $50m 
   
• EC fine increased net debt by $175m but was fully funded from existing facilities
   
• Free cash flow (pre-EC fine payment) increase from $18m to $45m 

¹ At constant exchange rates

More details on 2012 financial performance can be found in our Full Year Results Announcement