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Business Performance Review
Divisional Performance
* EBITDA is normalised comprising the underlying operating profit before depreciation and amortisation but after separately disclosed gains on
property assets and share based payments.
** PBT is normalised comprising the underlying EBITDA less depreciation, less finance costs plus finance income.
For the purposes of disclosing 2010 divisional performance, £8.2m of net profit on disposal of Widnes assets (after costs) previously reported
within Stobart Ports is now reported within Stobart Properties.
Eddie Stobart
2011
2010
Revenue
£449.9m
£381.5m
EBITDA*
£51.2m
£43.1m
PBT**
£33.6m
£25.6m
Stobart Rail
2011
2010
Revenue
£53.0m
£64.8m
EBITDA*
£5.9m
£6.5m
PBT**
£3.7m
£5.0m
Stobart Ports
2011
2010
Revenue
£13.7m
£13.9m
EBITDA*
£2.7m
£4.8m
PBT**
£2.0m
£3.2m
Stobart Air
2011
2010
Revenue
£6.8m
£6.6m
EBITDA*
£0.6m
£0.4m
PBT**
£0.2m
£0.2m
Stobart Properties
2011
2010
Revenue
£0.3m
£0.2m
EBITDA*
£2.7m
£7.4m
PBT**
£2.9m
£7.4m