SDL SDL PLC ORD 1P

SDL Currency GBX Premium Equity Commercial Companies

Income Statement (£ m)	31-Dec-12	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08
Continuing Operations
Revenue	269.32	229.00	203.55	171.88	158.78
Operating Profit/(Loss)	27.68	33.51	28.60	23.59	19.85
Net Interest	0.41	0.20	0.11	0.00	0.46
Profit Before Tax	27.40	33.76	28.81	24.01	19.85
Profit After Tax	20.86	25.74	22.04	17.95	14.54
Discontinued Operations
Profit After Tax	0.00	0.00	0.00	0.00	0.00
PROFIT FOR THE PERIOD	20.86	25.74	22.04	17.95	14.54
Attributable to:
Minority Interests	0.00	0.00	0.00	-0.01	-0.06
Equity Holders of Parent Company	20.86	25.74	22.04	17.94	14.49

Continuing EPS
Earnings per Share - Basic	26.12p	32.72p	28.39p	23.55p	19.21p
Earnings per Share - Diluted	25.98p	31.73p	27.44p	22.79p	18.75p
Earnings per Share - Adjusted	33.95p	38.23p	34.70p	29.05p	24.99p
Continuing and Discontinued EPS
Earnings per Share - Basic	26.12p	32.72p	28.39p	23.55p	19.21p
Earnings per Share - Diluted	25.98p	31.73p	27.44p	22.79p	18.75p
Earnings per Share - Adjusted	33.95p	38.23p	34.70p	29.05p	24.99p

Dividend per Share	5.80p	5.50p	0.00p	0.00p	0.00p

Balance Sheet (£ m)	31-Dec-12	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08
Assets
Non-Current Assets
Property, Plant & Equipment	8.84	6.42	6.32	5.01	4.52
Intangible Assets	234.50	155.14	159.31	137.62	138.23
Investment Properties	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.00
Other Financial Assets	0.00	0.00	0.00	0.00	0.00
Other Non-Current Assets	5.97	5.93	7.26	6.44	7.10
	249.31	167.49	172.89	149.07	149.85
Current Assets
Inventories	0.00	0.00	0.00	0.00	0.00
Trade & Other Receivables	66.04	52.76	52.14	40.46	45.10
Cash at Bank & in Hand	28.45	70.41	46.63	46.16	31.23
Current Asset Investments	0.00	0.00	0.00	0.00	0.00
Other Current Assets	0.00	0.00	0.00	0.00	0.00
	94.49	123.16	98.77	86.62	76.33

Total Assets	343.80	290.65	271.66	235.69	226.17

Liabilities
Current Liabilities
Borrowings	-22.19	0.00	0.00	0.00	0.00
Other Current Liabilities	-82.59	-64.31	-66.18	-53.40	-53.83
	-104.78	-64.31	-66.18	-53.40	-53.83

Net Current Assets	-10.29	58.85	32.59	33.22	22.49

Non-Current Liabilities
Borrowings	0.00	0.00	0.00	0.00	0.00
Provisions	-9.18	-7.41	-9.34	-9.12	-9.18
Other Non-Current Liabilities	-2.07	-1.10	-0.62	-0.07	-0.12
	-11.26	-8.51	-9.96	-9.18	-9.31

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-116.04	-72.82	-76.14	-62.58	-63.14

Net Assets	227.76	217.83	195.51	173.11	163.03

Capital & Reserves
Share Capital	0.80	0.79	0.78	0.97	1.16
Share Premium Account	96.75	95.88	94.97	93.21	92.48
Other Reserves	15.30	22.14	24.71	28.71	39.15
Retained Earnings	114.92	99.02	75.05	50.22	30.25
Shareholders Funds	227.76	217.83	195.51	173.11	163.05

Minority Interests/Other Equity	0.00	0.00	0.00	0.00	-0.02
Total Equity	227.76	217.83	195.51	173.11	163.03

Ratios - based on IFRS	31-Dec-12	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08
Continuing Operations
PE Ratio - Adjusted	15.10	17.39	18.73	14.14	9.16
PEG - Adjusted	-1.35	1.71	0.96	0.87	0.22
Earnings per Share Growth - Adjusted	-11.20%	10.17%	19.45%	16.25%	40.87%
Dividend Cover	5.85	6.95	n/a	n/a	n/a
Revenue Per Share	337.28p	291.11p	262.17p	225.56p	210.62p
Pre-Tax Profit per Share	34.31p	42.92p	37.10p	31.51p	26.33p
Operating Margin	10.28%	14.63%	14.05%	13.68%	12.41%
Return on Capital Employed	112.89%	48.44%	63.49%	53.85%	59.76%

Continuing & Discontinued Operations
Dividend Yield	1.13%	0.83%	0.00%	0.00%	0.00%
Dividend per Share Growth	5.45%	n/a	n/a	n/a	n/a
Net Asset Value per Share (exc. Intangibles)	-8.40p	79.14p	46.41p	46.10p	32.78p
Net Gearing	-2.75%	-32.32%	-23.85%	-26.67%	-19.15%

Data is provided by Morningstar

SDL - Fundamentals