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British Sky Broadcasting Group Plc Annual Report 2007

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British Sky Broadcasting Group Plc Annual Report 2007 British Sky Broadcasting Group plc Annual Report 2007 British Sky Broadcasting Group plc Grant Way, Isleworth, Middlesex TW7 5QD, England Telephone 0870 240 3000 British Sky Broadcasting Group plc plc Group Broadcasting Sky British Overseas +44 20 7705 3000 Facsimile 0870 240 3060 www.sky.com Registered in England No.2247735 The cover of this report is printed on Era Silk which contains 50% recycled and de-inked pulp from post-consumer waste. The remaining 50% is made up of Forest Stewardship Council (FSC) Annual Report 2007 virgin fibre and pulp. The text of this report is printed on Revive 50:50 uncoated, a 50% recycled paper manufactured with 25% de-inked post consumer waste, 25% unprinted pre-consumer waste and 50% virgin fi bre. All pulps used Elemental Chlorine Free (ECF) and the manufacturing mill is accredited with the ISO 14001 standard for environmental management. The mill, merchant and printer are FSC accredited. Project: Final No: 000000 3B2 VERSION: 7 www.bowne.com Job/Filename: u52717_01.3d gcornell Time: 09:25:41 Date: 09/08/07 BL: 0 Trim: x Page: 1of49 -1397612683 0 Path: {Work_In_Progress} U5xxxx BOWNE/U527xxx/U52717 BskyB/ Black plate (1,1) Table of contents ............................................................................................................................................................................................................................................................................................................ Chairman’s statement 2 ................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................. Review of the business Chief Executive Officer’s statement 3 The business, its objectives and its strategy 4 Corporate responsibility 15 People 16 Risk factors 17 Government regulation 19 ................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................. Financial review Introduction 26 Financial and operating review 27 Property 35 ................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................. Directors’ report Introduction 36 Board of Directors and senior management 37 Corporate governance report 39 Report on Directors’ remuneration 43 ................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................. Consolidated financial statements Statement of Directors’ responsibility 50 Auditors’ report 51 Consolidated financial statements 52 Group financial record 100 ................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................. Shareholder information 102 ................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................. Glossary of terms 110 ................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................. Form 20-F cross reference guide 112 ................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................. This constitutes the Annual Report of British Sky Broadcasting Group plc (the ‘‘Company’’) These statements (and all other forward-looking statements contained in this document) in accordance with International Financial Reporting Standards (‘‘IFRS’’) and with those are not guarantees of future performance and are subject to risks, uncertainties and parts of the Companies Act 1985 applicable to companies reporting under IFRS and is other factors, some of which are beyond our control, are difficult to predict and could dated 26 July 2007. This document also contains information set out within the cause actual results to differ materially from those expressed or implied or forecast in Company’s Annual Report to be filed on Form 20-F in accordance with the requirements the forward-looking statements. These factors include, but are not limited to, the fact of the United States (‘‘US’’) Securities and Exchange Commission (‘‘the SEC’’). However, that we operate in a highly competitive environment, the effects of laws and government this information may be updated or supplemented at the time of filing of that document regulation upon our activities, our reliance on technology, which is subject to risk, with the SEC or later amended if necessary. change and development, failure of key suppliers, our ability to continue to obtain exclusive rights to movies, sports events and other programming content, risks inherent in the implementation of large-scale capitalexpenditureprojects,ourabilitytocontinue Forward looking statements to communicate and market our services effectively, and the risks associated with our This document contains certain forward-looking statements within the meaning of the operation of digital television transmission in the United Kingdom (‘‘UK’’) and Republic of United States Private Securities Litigation Reform Act of 1995 with respect to our financial Ireland (‘‘Ireland’’). condition, results of operations and business, and our strategy, plans and objectives. These statements include, without limitation, those that express forecasts, expectations Information on some of the risks and uncertainties associated with our business are and projections with respect to the potential for growth of free-to-air and pay television, described in ‘‘Review of the business — Risk factors’’ in this document. All forward- fixed line telephony, broadband and bandwidth requirements, advertising growth, Direct- looking statements in this document are based on information known to us on the date to-Home (‘‘DTH’’) subscriber
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