Key financial data

US$ million (unless otherwise stated)	2008	2007	2006⁽¹⁾	2005⁽¹⁾	2004⁽¹⁾
Group revenue including associates	32,964	30,559	29,404	24,872	22,610
Less: Share of associates’ revenue	(6,653)	(5,089)	(4,413)	(4,740)	(5,429)
Group revenue	26,311	25,470	24,991	20,132	17,181
Operating profit including associates before special items and remeasurements	10,085	9,590	8,888	5,549	3,832
Special items and remeasurements (excluding financing special items and remeasurements)	(330)	(227)	24	16	556
Net finance costs (including financing remeasurements), tax and minority interests of associates	(783)	(434)	(398)	(315)	(391)
Total profit from operations and associates	8,972	8,929	8,514	5,250	3,997
Net finance costs (including financing special items and remeasurements)	(401)	(108)	(71)	(220)	(385)
Profit before tax	8,571	8,821	8,443	5,030	3,612
Income tax expense	(2,451)	(2,693)	(2,518)	(1,208)	(765)
Profit for the financial year – continuing operations	6,120	6,128	5,925	3,822	2,847
Profit for the financial year – discontinued operations	–	2,044	997	111	1,094
Profit for the financial year – total Group	6,120	8,172	6,922	3,933	3,941
Minority interests	(905)	(868)	(736)	(412)	(440)
Profit attributable to equity shareholders of the Company	5,215	7,304	6,186	3,521	3,501
Underlying earnings⁽²⁾ – continuing operations	5,237	5,477	5,019	3,335	2,178
Underlying earnings⁽²⁾ – discontinued operations	–	284	452	401	506
Underlying earnings⁽²⁾ – total Group	5,237	5,761	5,471	3,736	2,684
Earnings per share ($) – continuing operations	4.34	4.04	3.51	2.35	1.84
Earnings per share ($) – discontinued operations	–	1.54	0.70	0.08	0.60
Earnings per share ($) – total Group	4.34	5.58	4.21	2.43	2.44
Underlying earnings per share ($) – continuing operations	4.36	4.18	3.42	2.30	1.52
Underlying earnings per share ($) – discontinued operations	–	0.22	0.31	0.28	0.35
Underlying earnings per share ($) – total Group	4.36	4.40	3.73	2.58	1.87
Ordinary dividend per share (US cents)	44.0	124.0	108.0	90.0	70.0
Special dividend per share (US cents)	–	–	67.0	33.0	–
Weighted average basic number of shares outstanding (million)	1,202	1,309	1,468	1,447	1,434
EBITDA⁽³⁾ – continuing operations	11,847	11,171	10,431	7,172	5,359
EBITDA⁽³⁾ – discontinued operations	–	961	1,766	1,787	1,672
EBITDA⁽³⁾ – total Group	11,847	12,132	12,197	8,959	7,031
EBITDA interest cover⁽⁴⁾ – total Group	28.3	42.0	45.5	20.0	18.5
Operating margin (before special items and remeasurements) – total Group	30.6%	28.4%	25.4%	18.5%	14.7%
Ordinary dividend cover (based on underlying earnings per share) – total Group	9.9	3.5	3.5	2.9	2.7
Balance sheet
Intangible and tangible assets	32,551	25,090	25,632	33,368	35,816
Other non-current assets and investments	7,494	9,111	7,969	5,556	5,547
Working capital	861	1,966	3,096	3,538	3,543
Other net current liabilities	(1,565)	(877)	(1,177)	(1,492)	(611)
Other non-current liabilities and obligations	(6,729)	(6,261)	(5,790)	(8,399)	(8,339)
Cash and cash equivalents and borrowings⁽⁵⁾	(11,051)	(5,170)	(3,244)	(4,993)	(8,243)
Net assets classified as held for sale	195	471	641	–	–
Net assets	21,756	24,330	27,127	27,578	27,713
Minority interests	(1,535)	(1,869)	(2,856)	(3,957)	(4,588)
Equity attributable to the equity shareholders of the Company	20,221	22,461	24,271	23,621	23,125
Total capital⁽⁶⁾	32,799	29,569	30,451	32,571	35,956
Cash inflows from operations – continuing operations	9,579	9,375	9,012	5,963	3,857
Cash inflows from operations – discontinued operations	–	470	1,045	1,302	1,434
Cash inflows from operations – total Group	9,579	9,845	10,057	7,265	5,291
Dividends received from associates and financial asset investments – continuing operations	659	311	251	468	380
Dividends received from associates and financial asset investments – discontinued operations	–	52	37	2	16
Dividends received from associates and financial asset investments – total Group	659	363	288	470	396
Return on capital employed⁽⁷⁾ – total Group	36.8%	37.8%	32.4%	19.2%	14.6%
EBITDA/average total capital⁽⁶⁾ – total Group	38.0%	40.4%	38.7%	26.0%	21.2%
Net debt to total capital (gearing)⁽⁸⁾	37.8%	20.0%	12.9%	17.0%	25.4%

⁽¹⁾: Comparatives were adjusted in the 2007 Annual Report to reclassify amounts relating to discontinued operations where applicable.
⁽²⁾: Underlying earnings is net profit attributable to equity shareholders, adjusted for the effect of special items and remeasurements and any related tax and minority interests.
⁽³⁾: EBITDA is operating profit before special items, remeasurements, depreciation and amortisation in subsidiaries and joint ventures and share of EBITDA of associates.
⁽⁴⁾: EBITDA interest cover is EBITDA divided by net finance costs, excluding other net financial income, exchange gains and losses on monetary assets and liabilities, amortisation of discounts on provisions, special items and financial remeasurements, but including share of associates’ net interest expense.
⁽⁵⁾: This differs from the Group’s measure of net debt as it excludes the net debt of disposal groups (2008: $8 million; 2007: $(69) million; 2006: $(80) million; 2005: nil; 2004: nil), and excludes the impact of derivative instruments that provide an economic hedge of assets and liabilities in net debt (2008: liabilities of $297 million; 2007: assets of $388 million; 2006: assets of $193 million; 2005: nil; 2004: nil). For more detail see note 30 Consolidated cash flow analysis.
⁽⁶⁾: Total capital is net assets excluding net debt (excluding the impact of derivative instruments).
⁽⁷⁾: Return on capital employed is calculated as total operating profit before impairments for the year divided by the average of total capital less other investments and adjusted for impairments.
⁽⁸⁾: Net debt to total capital is calculated as net debt (excluding the impact of derivative instruments) divided by total capital less investments in associates.

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