CONSOLIDATED INFORMATION – CONTINUING OPERATIONS(1,2)
| Years ended December 31(3) ($ millions except where otherwise indicated) |
2008 | 2007 |
|---|---|---|
Operating Results |
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| Sales | 32,088 | 30,607 |
| EBITDA(4) | 1,837 | 1,525 |
| Operating income | 1,192 | 875 |
| Interest expense and other financing charges | 360 | 175 |
| Net earnings from continuing operations | 645 | 374 |
Cash Flow |
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| Cash flows from operating activities of continuing operations | 985 | 1,368 |
| Free cash flow(4) | (219) | 379 |
| Fixed asset purchases | 807 | 658 |
Per Common Share($) |
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| Basic net earnings from continuing operations | 4.63 | 2.46 |
| Basic net earnings | 6.08 | 3.92 |
Financial Ratios |
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| EBITDA margin(4) | 5.7% | 5.0% |
| Operating margin | 3.7% | 2.9% |
| Return on average total assets(4) | 8.3% | 6.2% |
| Return on average common shareholders’ equity | 13.3% | 7.9% |
| Net debt (excluding Exchangeable Debentures)(4) to equity | 0.58:1 | 0.96:1 |
Reportable Operating Segments |
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| Weston Foods | ||
| Sales | 2,197 | 2,088 |
| Operating income | 154 | 147 |
| Operating margin | 7.0% | 7.0% |
| Return on average total assets(4) | 11.0% | 10.5% |
| Loblaw | ||
| Sales | 30,802 | 29,384 |
| Operating income | 1,038 | 728 |
| Operating margin | 3.4% | 2.5% |
| Return on average total assets(4) | 8.1% | 5.7% |
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(1) For financial definitions and ratios refer to the Glossary.
(2) Certain prior year’s information was reclassified to conform with the current year’s presentation (see note 1 to the consolidated financial statements - PDF, 72 KB). Results of Weston Foods’ U.S. fresh bakery business have been reclassified as discontinued operations.
(3) 2008 was a 53-week year.
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