AVAP AVATION PLC ORD 1P

AVATION Currency GBX Standard Shares

Income Statement (£ m)	30-Jun-12	30-Jun-11	30-Jun-10	30-Jun-09	30-Jun-08
Continuing Operations
Revenue	22.10	16.29	17.55	16.28	5.03
Operating Profit/(Loss)	10.19	8.39	3.55	4.99	8.15
Net Interest	4.72	2.68	3.16	3.55	0.66
Profit Before Tax	5.24	5.63	3.55	4.99	8.15
Profit After Tax	4.16	5.06	2.82	4.23	7.36
Discontinued Operations
Profit After Tax	0.00	0.00	0.00	0.00	0.00
PROFIT FOR THE PERIOD	4.16	5.06	2.82	4.23	7.36
Attributable to:
Minority Interests	-0.85	-1.43	-1.17	-1.59	-0.40
Equity Holders of Parent Company	3.31	3.63	1.65	2.65	6.97

Continuing EPS
Earnings per Share - Basic	8.16p	11.95p	6.31p	10.09p	26.57p
Earnings per Share - Diluted	8.13p	11.84p	6.31p	10.09p	26.57p
Earnings per Share - Adjusted	8.16p	11.95p	6.31p	10.09p	26.57p
Continuing and Discontinued EPS
Earnings per Share - Basic	8.16p	11.95p	6.31p	10.09p	26.57p
Earnings per Share - Diluted	8.13p	11.84p	6.31p	10.09p	26.57p
Earnings per Share - Adjusted	8.16p	11.95p	6.31p	10.09p	26.57p

Dividend per Share	1.00p	0.60p	0.00p	0.00p	0.00p

Balance Sheet (£ m)	30-Jun-12	30-Jun-11	30-Jun-10	30-Jun-09	30-Jun-08
Assets
Non-Current Assets
Property, Plant & Equipment	137.05	84.90	92.52	83.05	67.42
Intangible Assets	1.33	1.33	1.33	1.33	1.33
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	7.86	0.00	0.00	0.00	0.00
	146.23	86.22	93.85	84.38	68.74
Current Assets
Inventories	0.01	0.00	0.00	0.00	0.00
Trade & Other Receivables	6.07	7.54	1.20	1.58	0.36
Cash at Bank & in Hand	5.82	5.63	1.23	1.04	1.26
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
	11.90	13.17	2.42	2.62	1.62

Total Assets	158.13	99.39	96.27	87.00	70.37

Liabilities
Current Liabilities
Borrowings	-12.52	-9.87	-9.60	-8.52	-6.26
Other Current Liabilities	-5.53	-6.22	-5.88	-5.23	-3.13
	-18.06	-16.09	-15.49	-13.76	-9.39

Net Current Assets	-6.16	-2.92	-13.06	-11.14	-7.77

Non-Current Liabilities
Borrowings	-79.40	-28.09	-39.12	-40.25	-37.60
Provisions	-3.80	-4.81	-4.25	-3.21	-1.83
Other Non-Current Liabilities	-4.35	-0.94	-1.38	-0.55	-0.32
	-87.55	-33.85	-44.75	-44.01	-39.75

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-105.61	-49.93	-60.24	-57.77	-49.14

Net Assets	52.52	49.46	36.03	29.23	21.22

Capital & Reserves
Share Capital	0.42	0.39	0.26	0.26	0.25
Share Premium Account	14.19	10.54	1.25	1.22	1.21
Other Reserves	9.75	9.91	10.33	7.93	4.46
Retained Earnings	17.79	14.89	11.43	9.90	7.39
Shareholders Funds	42.15	35.73	23.28	19.30	13.31

Minority Interests/Other Equity	10.37	13.73	12.76	9.93	7.91
Total Equity	52.52	49.46	36.03	29.23	21.22

Ratios - based on IFRS	30-Jun-12	30-Jun-11	30-Jun-10	30-Jun-09	30-Jun-08
Continuing Operations
PE Ratio - Adjusted	11.70	8.74	n/a	n/a	n/a
PEG - Adjusted	-0.37	0.10	n/a	n/a	n/a
Earnings per Share Growth - Adjusted	-31.72%	89.53%	-37.52%	-62.01%	n/a
Dividend Cover	8.16	19.92	n/a	n/a	n/a
Revenue Per Share	54.54p	53.67p	66.95p	62.08p	19.19p
Pre-Tax Profit per Share	12.94p	18.55p	13.53p	19.02p	31.07p
Operating Margin	45.09%	51.02%	38.16%	52.35%	168.00%
Return on Capital Employed	6.78%	9.14%	7.65%	10.68%	13.42%

Continuing & Discontinued Operations
Dividend Yield	1.05%	0.57%	n/a	n/a	n/a
Dividend per Share Growth	66.67%	n/a	n/a	n/a	n/a
Net Asset Value per Share (exc. Intangibles)	96.35p	89.11p	83.72p	68.55p	45.72p
Net Gearing	204.27%	90.49%	204.06%	247.36%	320.03%

Data is provided by Morningstar

AVATION - Fundamentals