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Operating and financial highlights - Resilient operational performance during a period of unprecedented turbulence. - Profit- generating revenue growth across all major businesses. - Good progress against strategic priorities, with particularly strong operational performances in European and Australasian hubs. - Increased manufacturing capability through management of Bison and near completion of Explore Industrial Park. Managed revenue( 1) £ m + 18% 2,123.5 2005 5,002.9 2009 2,624.5 2006 3,488.5 2007 4,235.9 2008 1,933.9 4,087.1 2,271.7 3,037.3 3,603.1 EBITDA( 2) £ m + 25% 58.8 2005 178.6 2009 79.3 2006 111.1 2007 142.6 2008 Total net assets £ m + 15% 118.9 2005 532.8 2009 133.6 2006 53.8 2007 464.0 2008 Data for 2007, 2008 and 2009 are extracted from the audited consolidated financial statements of Laing O'Rourke Corporation Limited prepared under IFRS. Data for 2005 and 2006 are extracted from the Laing O'Rourke plc audited consolidated financial statements prepared under UK GAAP. ( 1) Managed revenue includes share of joint ventures' revenue, inter- segment revenue and revenue from managed operations. Managed revenue Revenue, including share of joint ventures Pre- exceptional items Post- exceptional items 161.5 100.2 Laing O'Rourke Annual Review 2009 - Major project milestones met or exceeded. - Completion and handover on time and on budget of some of the world's most iconic projects. - Major new cash- generative project wins, feeding an already robust order book. - Strong balance sheet with cash balances over £ 600 million. Operating and financial highlights Total number of employees( 3) + 16% 23,704 2005 35,753 2009 23,348 2006 27,344 2007 30,847 2008 Order book £ m + 7% 5,268.2 2005 9,955.0 2009 5,582.5 2006 8,366.9 2007 9,310.0 2008 EBIT( 2) £ m + 31% 26.4 2005 115.0 2009 41.1 2006 64.4 2007 53.5 87.7 2008 ( 2) EBIT includes profit from operations, net non- operating expense and excludes joint venture interest and tax. EBITDA is EBIT excluding depreciation and amortisation. ( 3) Employee numbers are at 31 March and include staff and workforce employed by joint venture companies. Pre- exceptional items Post- exceptional items 97.9 02- 03 |