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RMC Group P.L.C. Annual Report and Accounts 2001

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RMC Group P.L.C. Annual Report and Accounts 2001 2001 FC R&A 20/3/03 12:23 pm Page 1 RE P O R T RMC Group p.l.c. Annual Report and Accounts 2001 The RMC Group is a multinational Financial highlights 1 enterprise operating across four Segmental analysis 1 2001 Operational statistics 2 continents, fulfilling the demand Group activities 3 for building materials – concrete, Chairman’s review 4 Chief Executive’s review 5 aggregates and cement. Environmental and social review 8 Finance Director’s review 12 Board of Directors 14 Board committees 16 Directors’ report 17 Remuneration report 21 Report of the Auditors 26 Accounting policies 27 Directors’ responsibilities in relation to financial statements 29 Group profit and loss account 30 Group balance sheet 31 Parent company balance sheet 32 Group cash flow statement 33 Statement of total recognised gains and losses 34 Movements in shareholders’ equity funds 34 Notes to the accounts 35 Group financial review 59 Principal subsidiary undertakings, Registered Number: 249776 Registered Office: joint ventures and associated undertakings 60 RMC House, Coldharbour Lane, Thorpe, Egham, Surrey TW20 8TD, United Kingdom Supplementary financial information in Euros 62 Telephone: +44 (0)1932 568833 Facsimile: +44 (0)1932 568933 www.rmc-group.com Shareholder information 64 FINANCIAL HIGHLIGHTS 2001 2000 Total turnover £5,214.5m £5,055.2m 00005501111051110511105111 EBITA* £329.6m £340.3m 00005501111051110511105111 Total trading profit* £294.9m £307.9m 00005501111051110511105111 Profit before taxation* £170.7m £208.3m 00005501111051110511105111 Earnings per share Basic 32.1p 91.9p Basic excluding exceptional items 35.3p 47.9p Basic excluding exceptional items and goodwill amortisation 48.3p 60.2p 00005501111051110511105111 Total annual dividend per share 31.2p 31.0p 00005501111051110511105111 SEGMENTAL ANALYSIS 2001 2000 2221555555111 5555511115 £m % £m % Total turnover Great Britain 1,122.1 22 981.7 19 Germany 904.8 17 1,034.5 20 Rest of Europe 1,443.1 28 1,360.1 27 United States of America 1,362.6 26 1,298.1 26 Rest of the World 381.9 7 380.8 8 55000001111051110511105111 55000001111051110511105111 EBITA* Great Britain 112.9 34 80.8 24 Germany 5.4 2 49.1 14 Rest of Europe 100.1 30 91.1 27 United States of America 88.3 27 99.6 29 Rest of the World 22.9 7 19.7 6 55000001111051110511105111 55000001111051110511105111 Total trading profit* Great Britain 100.2 34 69.3 22 Germany 2.4 1 45.8 15 Rest of Europe 91.4 31 83.0 27 United States of America 86.9 29 98.1 32 Rest of the World 14.0 5 11.7 4 55000001111051110511105111 55000001111051110511105111 Net operating assets Great Britain 1,002.1 26 965.5 24 Germany 637.5 16 735.8 18 Rest of Europe 1,158.2 29 1,145.6 29 United States of America 623.1 16 647.7 16 Rest of the World 494.9 13 507.4 13 00055001111051110511105111 00055001111051110511105111 *Excluding exceptional items. EBITA represents total trading profit excluding goodwill amortisation. The total turnover, EBITA and total trading profit for 2000 exclude the contribution from Great Mills, which was sold in December 2000. RMC Group p.l.c. 1 2001 OPERATIONAL STATISTICS Number of Total turnover (all products) ready mixed Number of Number of Other 2001 2000* concrete aggregates cement plants operating £m £m plants quarries and terminals units Great Britain 1,122.1 981.7 313 139 8 184 000000011 051 051 051 051 051 051 000000011 051 051 051 051 051 051 Germany 904.8 1,034.5 280 61 7 28 000000011 051 051 051 051 051 051 000000011 051 051 051 051 051 051 United States of America 1,362.6 1,298.1 210 32 3 65 000000011 051 051 051 051 051 051 000000011 051 051 051 051 051 051 Rest of Europe Austria 148.6 160.9 53 39 0 4 Belgium 62.5 60.3 15 7 0 1 Croatia 49.9 43.0 2161 Czech Republic 38.3 33.2 41 7 0 1 Denmark 30.9 31.7 20 0 0 0 France 418.7 394.3 220 51 1 3 Hungary 42.5 33.6 34 8 0 6 Ireland 137.4 140.3 44 26 3 40 Netherlands 113.8 100.5 0 0 0 11 Poland 95.9 97.1 22 2 6 2 Portugal 73.8 69.7 42 4 0 0 Spain 177.7 145.5 119 16 0 8 Other European countries 53.1 50.0 2 0 14 3 000000011 051 051 051 051 051 051 Total – Rest of Europe 1,443.1 1,360.1 614 161 30 80 000000011 051 051 051 051 051 051 000000011 051 051 051 051 051 051 Rest of the World Australia 178.5 192.6 0079 Israel 128.5 132.0 67 13 0 9 Other countries 74.9 56.2 38 8 0 5 000000011 051 051 051 051 051 051 Total – Rest of the World 381.9 380.8 105 21 7 23 000000011 051 051 051 051 051 051 000000011 051 051 051 051 051 051 Total – worldwide subsidiaries, joint ventures and associated undertakings 5,214.5 5,055.2 1,522 414 55 380 000000011 051 051 051 051 051 051 000000011 051 051 051 051 051 051 *Continuing operations (excluding Great Mills in 2000). Plants of associated undertakings with a Group shareholding of less than 50% are not included above. 2 RMC Group p.l.c. www.rmc-group.com GROUP ACTIVITIES At 31st December 2001 From over 2,300 operating units worldwide, RMC supplies products and services to customers in 30 countries RMC Group activities by country Coated stone Argentina 6 Coated roadstone is a mixture of aggregate and a bituminous Australia 4 5 binder. Normally delivered warm or hot, it is used principally Austria 1 2 3 6 in road, pavement and airfield construction and maintenance. Belgium 1 2 6 Group companies produce macadams, hot-rolled asphalts, and Bulgaria 1 pre-coated chippings. Croatia 1 2 4 6 3 Building and concrete products Czech Republic 1 2 6 The Group manufactures a wide range of precast and Denmark 6 prestressed concrete products in specialised, quality controlled Finland 4 factories for construction, domestic, transport and agricultural France 1 2 4 6 markets. These products include railway sleepers, paving and Germany 1234 6 landscaping blocks and bricks, vehicle inspection pits, kerbs, Great Britain 1234 67 pipes and complete beam and block suspended floor systems. Hungary 1 2 3 6 India 2 6 4 Cement, cementitious products and cement trading Ireland 2 3 4 6 7 Cement – a mixture of clay and limestone, burnt in a kiln – is Israel 2 3 5 6 one of the fundamental building materials. The Group operates Jamaica 5 cement plants in Australia, Croatia, Germany, Latvia, Poland, Jordan 6 Great Britain and USA with an annual capacity of 20 million Latvia 4 6 tonnes, making the Group the world’s 10th largest producer. Malaysia 2 6 The Group is active in international cement trading from a Netherlands 1 3 network of its own cement terminals. Norway 4 Poland 1 2 4 6 In addition to standard Portland cement, the Group also Portugal 2 6 processes and markets ground-granulated blast furnace slag Slovakia 1 and pulverised fuel ash, by-products of the steel industry and Slovenia 1 coal-fired power stations respectively. Spain 2 6 5 Lime Sweden 4 Through its operations in Australia, Israel and Jamaica, the United Arab Emirates 2 4 6 Group supplies lime to the iron, steel, alumina, chemical and United States of America 2 3 4 6 511100000000 mining industries and to the construction, agriculture and 000000005111 environmental protection sectors. 1 Aerated concrete 6 Ready mixed concrete and mortar Exceptional insulation properties, coupled with low weight and The Group is the world’s leading supplier of ready mixed concrete. high strength are the main reasons for the popularity of aerated A leader in the development of concrete technology, the Group concrete products including blocks and lintels. The Group is a is able to design mixes to produce the strength and consistency market leader in the manufacture of this construction product. characteristics in concrete to meet a wide variety of customer needs and requirements. Geographical coverage, technical 2 Aggregates support services and practical experience are unrivalled. Aggregates are naturally occurring (sand and gravel) or produced by crushing stone including granite, limestone and Mortar comprises cement, water and fine aggregates (usually sandstone and are found on land or on the seabed. Aggregates sand) and may also contain lime. A full range of ready-to-use have a variety of uses and a proportion of those extracted by the natural and coloured lime sand mortar for bricklaying, blockwork, Group are utilised in the manufacture of ready mixed concrete. rendering and plastering is manufactured at most of the Group’s ready mixed concrete plants. Lightweight aggregates One of the leading producers in the world, the Group markets 7 Waste control lightweight aggregates under the Lytag trade name. Made Hales Waste Control is a major British waste manager from pulverised fuel ash, Lytag is a waste product of coal-fired and contractor. Operating over 460 specialist vehicles, it power stations. provides a total waste management service for the retail, commercial, manufacturing and construction sectors including Marine aggregates hazardous wastes from all sectors. UK Group subsidiary, RMC The Group is one of the leading dredged marine aggregate Environmental Services, operates 10 landfill sites, four materials operators in Europe, operating throughout British coastal waters. reclamation facilities and generates electricity at a number of In addition to its subsidiaries, the Group supplies customers, its sites utilising landfill gas.
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