Full year results for the year ended 31 December 2012
Financial highlights
* Strong profitability despite challenging start to the year
* Supported by excellent operating performance and cost management
* ROCE of 13.7%, in excess of the Group's through-the-cycle target of 13%
* Strong cash generation from operations of Euro845 million
* Total dividend for the year of 28.0 euro cents per share, up 8%
Strategic highlights
* Significant progress with strategic initiatives
+ Euro1.2 billion spent on acquisitions increasing exposure to higher growth
packaging segments
+ Disposal of interest in non-core Aylesford Newsprint
+ Capital employed in packaging businesses now 67% of Group total (57% at
end of 2011)
* Integration of acquisitions on track
* Cost synergies from recent acquisitions now estimated at Euro30 million per
annum, up 33%
