Executive Report
Company Name: EMAP PLC
Address: Wentworth House / Wentworth Street
Zip code: PE1 1DS
City: PETERBOROUGH
Country: United Kingdom
Phone: +44 1733 213700
Date of Incorporation: 27/05/1947
Operating Revenue/Turnover (2005, th GBP): 1,068,000
Net Income (2005, th GBP) 60,000
Employees (2005): 5,523
Quoted: Yes
BVD ID Number: GB00435820
NACE Rev.1.1, primary code: 2213: Publishing of journals and periodicals
Trade description:
Publisher of consumer & trade magazines, provider of business to business communications media, the operation of radio stations & cable TV channels, & provider of specialist interactive media communications services across a range of media platforms.

Balance Sheet(th GBP)
31/3/2005 31/3/2004 31/3/2003 31/3/2002 31/3/2001
12 Months 12 Months 12 Months 12 Months 12 Months
Cons. Cons. Cons. Cons. Cons.
ASSETS
Current Assets 317,000 293,000 277,000 284,000 340,000
Cash & Equivalents 38,000 38,000 26,000 29,000 23,000
Receivables 176,000 169,000 147,000 151,000 191,000
Other Current Assets 103,000 86,000 104,000 104,000 126,000
Fixed & Other Assets 696,000 708,000 610,000 620,000 1,154,000
Tangible Fixed Assets 31,000 31,000 32,000 29,000 37,000
Other Assets 665,000 677,000 578,000 591,000 1,117,000
Total Assets 1,013,000 1,001,000 887,000 904,000 1,494,000
 
LIABILITIES
Current Liabilities 456,000 428,000 411,000 399,000 1,069,000
Accounts Payable 51,000 43,000 65,000 69,000 96,000
Other Current Liabilities 405,000 385,000 346,000 330,000 973,000
Non-Current Liabilities 274,000 288,000 224,000 303,000 66,000
Long Term Debt 267,000 272,000 211,000 279,000 26,000
Other Liabilities 7,000 16,000 13,000 24,000 40,000
Shareholder's Fund 283,000 285,000 252,000 202,000 359,000
Total Liabilities and Shareholder's Fund 1,013,000 1,001,000 887,000 904,000 1,494,000

Income Statement(th GBP)
31/3/2005 31/3/2004 31/3/2003 31/3/2002 31/3/2001
12 Months 12 Months 12 Months 12 Months 12 Months
Cons. Cons. Cons. Cons. Cons.
Operating Revenue / Turnover 1,068,000 1,050,000 967,000 1,029,000 1,153,000
Cost of Goods Sold -474,000 -478,000 -551,000 -613,000 -726,000
Operating Expenses -454,000 -412,000 -303,000 -295,000 -896,000
Operating Income 140,000 160,000 113,000 121,000 -469,000
Financial P/L -28,000 -16,000 27,000 -190,000 -58,000
Tax -52,000 -47,000 -44,000 -37,000 -33,000
Extraordinary and Other Items 0 0 0 0 0
Net Income 60,000 97,000 96,000 -106,000 -560,000

Ratios
31/3/2005 31/3/2004 31/3/2003 31/3/2002 31/3/2001
Returns on Shareholders Funds (%) 39.58 50.53 55.56 -34.16 -146.80
Returns on Total Assets (%) 11.06 14.39 15.78 -7.63 -35.27
Returns on Capital Employeed (%) 24.42 28.80 32.77 -7.13 -111.29
Profit Margin (%) 10.49 13.71 14.48 -6.71 -45.71
Current Ratio (X) 0.70 0.68 0.67 0.71 0.32
Solvency Ratio (%) 27.94 28.47 28.41 22.35 24.03
Shareholders liquidity ratio (%) 1.03 0.99 1.13 0.67 5.44
Assets/Employee (th USD) 183 172 166 152 238
Net Assets Turnover (X) 1.92 1.83 2.03 2.04 2.71

Employees
31/3/2005 31/3/2004 31/3/2003 31/3/2002 31/3/2001
Employees 5,523 5,807 5,329 5,939 6,290

Board Members and Officers
Name Function
Andrew Harrison Director
Adam Broadbent Director
David Rough Director
Ian Griffiths Director
Pierre Danon Director
Paul Keenan Director
Thomas Moloney Director
William Cathcart Director
Karen Jones Director
Rita Clifton Director
Nicholas Folland Company Secretary

SHAREHOLDERS
BVD Independence Indicator: A+

Company Name Country Type Ownership Source Company Information
      Direct % Total % Source ident. Date of Inform. Closing date Op. Revenue (mil USD)* Total Assets (mil USD)
Ultimate Owner(qualification: )
Shareholders
BARCLAYS PLC GB Bank 10.27 n.a. SE 04/2006 >< 29,859 1,588,242
MORLEY FUND MANAGEMENT LIMITED GB Mutual & Pension fund/Trust/Nominee 7.62 n.a. SE 04/2006 >< 278 268
LEGAL & GENERAL GROUP PLC GB Insurance company 3.90 n.a. RT 08/2005 >< 12,575 286,984
DEUTSCHE BANK AG DE Bank - 3.87 SE 12/2005 >< 29,000 1,170,360
AXA FR Insurance company 3.84 n.a. RT 08/2005 >< 92,214 644,409
ZURICH FINANCIAL SERVICES n.a. Financial company 3.25 n.a. RT 08/2005 n.a.
FIDELITY INVESTMENTS US Mutual & Pension fund/Trust/Nominee 3.10 n.a. RS 05/2004 n.a.
LEGAL & GENERAL INVESTMENT MANAGEMENT LIMITED GB Mutual & Pension fund/Trust/Nominee 3.01 n.a. RS 05/2004 >< 68 32
FIDELITY INVESTMENTS LIMITED via its funds GB Mutual & Pension fund/Trust/Nominee - 2.65 IV 08/2005 >< 0
SCHRODERS PLC via its funds GB Bank - 1.74 IV 08/2005 >< 1,221 5,741
ABERDEEN ASSET MANAGEMENT PLC via its funds GB Bank - 1.35 IV 09/2005 >< 269 5,810
RIVERSOURCE DISTRIBUTORS LTD. via its funds GB Mutual & Pension fund/Trust/Nominee - 1.35 IV 09/2005 >< 0 1
LIONTRUST INVESTMENT FUNDS LIMITED via its funds GB Mutual & Pension fund/Trust/Nominee - 1.17 IV 12/2004 = 1,257 90
PRUDENTIAL PLC via its funds GB Insurance company - 1.11 IV 10/2005 >< 31,573 334,984
MERRILL LYNCH & CO., INC. via its funds US Bank - 0.75 IV 10/2005 >< 26,009 681,015
AZIMUT SPA via its funds IT Mutual & Pension fund/Trust/Nominee - 0.74 IV 06/2005 n.a.
HSBC HOLDINGS PLC via its funds GB Bank - 0.74 IV 09/2005 >< 58,281 1,501,970
AMVESCAP PLC via its funds GB Mutual & Pension fund/Trust/Nominee - 0.73 IV 06/2005 >< 2,881 7,583
BANCA INTESA SPA via its funds IT Bank - 0.52 IV 06/2005 >< 11,960 322,663
THE EMAP PLC EMPLOYEE BENEFIT TRUST n.a. Mutual & Pension fund/Trust/Nominee 0.35 n.a. SE 08/2005 n.a.
MOLONEY TOM n.a. Individual(s) or family(ies) 0.11 n.a. SE 01/2006 -
CARTER DEREK n.a. Individual(s) or family(ies) 0.09 n.a. SE 08/2005 -
FINDLAY IAN n.a. Individual(s) or family(ies) 0.07 n.a. SE 08/2005 -
DE PUYFONTAINE ARNAUD n.a. Individual(s) or family(ies) 0.06 n.a. SE 08/2005 -
FORD DEE n.a. Individual(s) or family(ies) 0.04 n.a. SE 08/2005 -
FOLLAND NICK n.a. Individual(s) or family(ies) 0.03 n.a. SE 08/2005 -
DUVALIER JENNIFER n.a. Individual(s) or family(ies) 0.01 n.a. SE 08/2005 -
KEENAN PAUL n.a. Individual(s) or family(ies) 0.01 n.a. SE 11/2005 -
BROADBENT ADAM n.a. Individual(s) or family(ies) - n.a. RS 03/2004 -
CATHCART ALUN n.a. Individual(s) or family(ies) <0.01 n.a. SE 07/2005 -
GARY HUGHES GB Individual(s) or family(ies) - n.a. RS 03/2004 -
GRIFFITHS IAN n.a. Individual(s) or family(ies) - n.a. SE 01/2006 -
HARRISON ANDREW n.a. Individual(s) or family(ies) - n.a. RS 03/2004 -
KAREN JONES GB Individual(s) or family(ies) - n.a. RS 03/2004 -
MISTRY DHARMASH n.a. Individual(s) or family(ies) - n.a. SE 01/2006 -
ROUGH DAVID n.a. Individual(s) or family(ies) <0.01 n.a. SE 03/2006 -

*For an insurance company the corresponding value is the Gross Premium Written and for a bank it is the Operating Income (memo).

SUBSIDIARIES
Company Name Country Ownership Source Company Information
    Direct % Total % Level of Own % Status % Source ident. Date of Inform. Closing date Op. Revenue (mil USD) Total Assets (mil USD)
ADJ FR - 100.00 UO+ RM 03/2005 >< 0 1
ADVERTISING FILM FESTIVAL FINANCING LTD GB - 100.00 UO+ RM 03/2005 n.a. n.a. n.a.
ADVERTISING FILM FESTIVAL LIMITED GB - 100.00 UO+ RM 03/2005 = 1 6
AGOR FR - 100.00 UO+ RM 03/2005 n.a. n.a. n.a.
BOUNTY SERVICES PTY LTD AU - 100.00 UO+ RM 03/2005 n.a. n.a. n.a.
BOUNTY SERVICES S PTE LTD SG - 100.00 UO+ RM 03/2005 n.a. n.a. n.a.
BOUNTY SERVICES SDN BHD MY - 100.00 UO+ RM 03/2005 n.a. n.a. n.a.
BOX TELEVISION LIMITED GB - 100.00 UO+ RM 03/2005 = 45 23
DIANA SAS FR - 100.00 UO+ RM 03/2005 = 24 51
EDITIONS TAITBOUT COMMUNICATION FR - 100.00 UO+ RM 03/2005 >< 2 2
EDITIONS TAITBOUT SA FR - 100.00 UO+ RM 03/2005 = 62 56
EMAP 1 SAS FR - 100.00 UO+ RM 03/2005 n.a. n.a. n.a.
EMAP 2 SAS FR - 100.00 UO+ RM 03/2005 n.a. n.a. n.a.
EMAP ACTIVE LIMITED GB - 100.00 UO+ RM 03/2005 = 39 n.a.
EMAP AUSTRALIA PTY LTD AU - 100.00 UO+ RM 03/2005 n.a. n.a. n.a.
EMAP AUTOMOTIVE LIMITED GB - 100.00 UO+ RM 03/2005 = 9 0
EMAP COMMUNICATIONS (HOLDINGS) LIMITED GB - 100.00 UO+ RM 03/2005 >< n.a. 629
EMAP COMMUNICATIONS BV NL - 100.00 UO+ RM 03/2005 >< n.a. 2
EMAP COMMUNICATIONS LIMITED GB - 100.00 UO+ RM 03/2005 = 323 616
EMAP CONSTRUCT LIMITED GB - 100.00 UO+ RM 03/2005 = 10 0
EMAP CONSUMER MEDIA (HOLDINGS) LIMITED GB - 100.00 UO+ RM 03/2005 >< n.a. 1,634
EMAP CONSUMER MEDIA LIMITED GB - 100.00 UO+ RM 03/2005 = 572 1,398
EMAP CONTRACT PUBLISHING PTY LTD AU - 100.00 UO+ RM 03/2005 n.a. n.a. n.a.
EMAP DIGITAL (FRANCE) FR - 100.00 UO+ RM 03/2005 >< 1 4
EMAP DIGITAL RADIO LIMITED GB - 100.00 UO+ RM 03/2005 = 19 8
EMAP EAST LIMITED GB - 100.00 UO+ RM 03/2005 = 5 0
EMAP ESPRIT LIMITED GB - 100.00 UO+ RM 03/2005 >< 6 0
EMAP FINANCIAL SERVICES LIMITED GB - 100.00 UO+ RM 03/2005 >< n.a. 1,554
EMAP FRANCE FR - 100.00 UO+ RM 03/2005 >< 397 620
EMAP INTERBUILD LIMITED GB - 100.00 UO+ RM 03/2005 = 13 0
EMAP INTERNATIONAL MAGAZINES S AS FR - 100.00 UO+ RM 03/2005 = 26 999
EMAP LONDON LIFESTYLE LIMITED GB - 100.00 UO+ RM 03/2005 = 30 n.a.
EMAP MACLAREN LIMITED GB - 100.00 UO+ RM 03/2005 = 6 n.a.
EMAP MALAYSIA SDN BHD MY - 100.00 UO+ RM 03/2005 n.a. n.a. n.a.
EMAP MEDIA LIMITED GB - 100.00 UO+ RM 03/2005 >< 8 0
EMAP METRO LIMITED GB - 100.00 UO+ RM 03/2005 = 4 n.a.
EMAP METRO LLC US - 100.00 UO+ RM 03/2005 >< 4 n.a.
EMAP PARTICIPATIONS FR - 100.00 UO+ RM 03/2005 >< 0 11
EMAP PUBLIC SECTOR LIMITED GB - 100.00 UO+ RM 03/2005 = 81 71
EMAP PUBLIC SECTOR MANAGEMENT LIMITED GB - 100.00 UO+ RM 03/2005 = 3 n.a.
EMAP PUBLICACTIONS SAS FR - 100.00 UO+ RM 03/2005 n.a. n.a. n.a.
EMAP RADIO (HOLDINGS) LIMITED GB - 100.00 UO+ RM 03/2005 >< n.a. 886
EMAP RADIO LIMITED GB - 100.00 UO+ RM 03/2005 = 75 327
EMAP RETAIL LIMITED GB - 100.00 UO+ RM 03/2005 = 7 n.a.
EMAP SINGAPORE PTE LTD SG - 100.00 UO+ RM 03/2005 n.a. n.a. n.a.
EXCELSIOR PUBLICATIONS S.A FR - 100.00 UO+ RM 03/2005 >< 101 97
GLENIGAN LIMITED GB - 100.00 UO+ RM 03/2005 = 6 0
INTERNATIONAL ADVERTISING FESTIVAL LIMITED GB - 100.00 UO+ RM 03/2005 = 20 50
KERRANG! RADIO (WEST MIDLANDS) LIMITED GB - 100.00 UO+ RM 03/2005 = 1 5
KISS FM RADIO LIMITED GB - 100.00 UO+ RM 03/2005 = 23 15
MAGIC 105.4 LIMITED GB - 100.00 UO+ RM 03/2005 = 24 37
METRO RADIO LIMITED GB - 100.00 UO+ RM 03/2005 = 18 17
PECHE ET CHASSE SAS FR - 100.00 UO+ RM 03/2005 n.a. n.a. n.a.
PICCADILLY RADIO LIMITED GB - 100.00 UO+ RM 03/2005 = 24 10
RADIO AIRE LIMITED GB - 100.00 UO+ RM 03/2005 = 8 6
RADIO CITY (SOUND OF MERSEYSIDE) LTD GB - 100.00 UO+ RM 03/2005 = 23 21
RADIO HALLAM LIMITED GB - 100.00 UO+ RM 03/2005 = 15 12
RED ROSE RADIO LIMITED GB - 100.00 UO+ RM 03/2005 = 11 10
SEYMOUR INTERNATIONAL LIMITED GB - 100.00 UO+ RM 03/2005 = 19 24
TARIF MEDIA FR - 100.00 UO+ RM 03/2005 = 2 1
TFM RADIO LIMITED GB - 100.00 UO+ RM 03/2005 = 7 8
TRADE PROMOTION SERVICES LIMITED GB - 100.00 UO+ RM 03/2005 = 4 0
VIKING RADIO LIMITED GB - 100.00 UO+ RM 03/2005 = 8 7
CAP MOTOR RESEARCH LIMITED GB WO WO UO+ JO 12/2005 = 5 0
DELTA COLLECTION SERVICES (UK) LIMITED GB WO WO UO+ JO 12/2005 = n.a. 0
EMAP ADVERTISING LIMITED GB WO WO UO+ JO 12/2005 = 20 0
EMAP AMERICA (HOLDINGS) LIMITED GB WO WO UO+ JO 12/2005 = n.a. 1,351
EMAP AMERICA LIMITED GB WO WO UO+ JO 12/2005 = n.a. 450
EMAP APEX PUBLICATIONS LIMITED GB WO WO UO+ JO 12/2005 = n.a. n.a.
EMAP CABLEVISION LIMITED GB WO WO UO+ JO 12/2005 = n.a. 18
EMAP COMPUTING LIMITED GB WO WO UO+ JO 12/2005 = n.a. 0
EMAP DIGITAL LIMITED GB WO WO UO+ JO 11/2005 = n.a. 42
EMAP DORMANT 1 LIMITED GB WO WO UO+ JO 12/2005 = n.a. 8
EMAP DORMANT 2 LIMITED GB WO WO UO+ JO 12/2005 = n.a. 10
EMAP FLEXIPLAN TRUSTEES LIMITED GB WO WO UO+ JO 12/2005 >< n.a. n.a.
EMAP HOLDINGS LIMITED GB WO WO UO+ JO 12/2005 = n.a. 3,234
EMAP IMAGES LIMITED GB WO WO UO+ JO 12/2005 = n.a. n.a.
EMAP INVESTMENTS LIMITED GB WO WO UO+ JO 12/2005 = n.a. 754
EMAP NATIONAL PUBLICATIONS LIMITED GB WO WO UO+ JO 12/2005 = n.a. 0
EMAP NEWSPAPERS LIMITED GB WO WO UO+ JO 12/2005 = n.a. 18
EMAP ONLINE LIMITED GB WO WO UO+ JO 12/2005 = n.a. 4
EMAP OVERSEAS INVESTMENTS LIMITED GB WO WO UO+ JO 12/2005 = n.a. 130
EMAP PENSION SERVICES LIMITED GB WO WO UO+ JO 12/2005 >< n.a. n.a.
EMAP PENSION TRUSTEES LIMITED GB WO WO UO+ JO 12/2005 >< n.a. n.a.
EMAP PROPERTIES LIMITED GB WO WO UO+ JO 12/2005 = 0 7
EMAP PURSUIT PUBLISHING LIMITED GB WO WO UO+ JO 12/2005 = n.a. 0
EMAP RADIO (NORTH EAST) LIMITED GB WO WO UO+ JO 12/2005 = 34 109
EMAP RADIO FINANCING LIMITED GB WO WO UO+ RT 11/2005 = n.a. 0
EMAP SUPPORT SERVICES LIMITED GB WO WO UO+ JO 12/2005 = 128 177
EMAP.COM LIMITED GB WO WO UO+ JO 12/2005 = n.a. 0
FHM (UK) LIMITED GB WO WO UO+ JO 12/2005 >< n.a. 4
FRONTLINE LIMITED GB WO WO UO+ JO 12/2005 = 43 115
FRONTLINE PUBLISHING SERVICES LIMITED GB WO WO UO+ JO 12/2005 = n.a. 0
G.J. LIMITED GB WO WO UO+ JO 12/2005 = n.a. 0
GARDEN NEWS LIMITED GB WO WO UO+ JO 12/2005 = n.a. 0
KEY 103 LIMITED GB WO WO UO+ JO 12/2005 = n.a. 0
KISS (NORTH EAST) LIMITED GB WO WO UO+ JO 12/2005 = n.a. n.a.
KISS FM RADIO (MANCHESTER) LIMITED GB WO WO UO+ JO 12/2005 = n.a. 0
KISS TV LIMITED GB WO WO UO+ JO 12/2005 = n.a. 0
MELODY RADIO LIMITED GB WO WO UO+ JO 12/2005 = n.a. 9
MH HOLDINGS (UK) LIMITED GB WO WO UO+ JO 12/2005 >< n.a. n.a.
MOTOR CYCLE NEWS LIMITED GB WO WO UO+ JO 12/2005 = n.a. 0
N.N.P. LIMITED GB WO WO UO+ JO 12/2005 = n.a. 0
OVER FIFTY CLUB LIMITED(THE) GB WO WO UO+ JO 12/2005 = n.a. 0
RADIO RADIO LIMITED GB WO WO UO+ JO 12/2005 = n.a. n.a.
SHIRE PR & MARKETING LIMITED GB WO WO UO+ JO 12/2005 = n.a. 0
SOUTH COAST RADIO LIMITED GB WO WO UO+ RT 02/2006 n.a. n.a. n.a.
T.P.S. EXHIBITIONS LIMITED GB WO WO UO+ JO 12/2005 = n.a. 0
TRAFALGAR NEWSPAPERS LIMITED GB WO WO UO+ JO 12/2005 = n.a. 0
TRANS WORLD COMMUNICATIONS LIMITED GB WO WO UO+ JO 12/2005 = n.a. n.a.
WEST SUFFOLK NEWSPAPERS LIMITED GB WO WO UO+ JO 12/2005 = n.a. 0
WORTH GLOBAL STYLE NETWORK LIMITED GB WO WO UO+ JO 04/2006 >< 28 70
EMAP PUBLISHING (NEDERLAND) BV NL - WO UO+ JO 04/2006 >< 2 131
SCOTTISH RADIO HOLDINGS LIMITED GB >90.00 n.a. UO+ WW 09/2005 >< 173 407
CONSTRUCTION RESEARCH COMMUNICATIONS LIMITED GB - 70.00 UO+ RM 03/2005 = 2 1
EMAS FR - 50.00 UO- RM 03/2005 n.a. 5 2
I & E LIMITED GB - 50.00 UO+ RM 03/2005 = 6 2

25 Most Recent Deals In The Last 6 Months
19/5/2006 Emap France up for sale
25/4/2006 Barclays plc has taken a minority stake in Emap plc.
30/3/2006 Barclays plc has taken a minority stake in Emap plc.
10/3/2006 Barclays plc has taken a minority stake in Emap plc.
28/2/2006 Barclays plc has taken a minority stake in Emap plc.
23/2/2006 Barclays plc has taken a minority stake in Emap plc.
28/11/2005 Emap may be acquisition target
4/11/2005 Mixmag is sold to Development Hell.
14/10/2005 Emap plc has bought Worth Global Style Network Ltd.
28/9/2005 Emap plc acquires Scottish Radio Holdings plc.
1/9/2005 Barclays plc increases stake in Emap plc.
10/8/2005 Johnston Press plc has bought Score Press Ltd
9/8/2005 Emap plc may sell Scottish radio activities.
25/5/2005 Emap plc sells ABI Building Data Ltd.
18/11/2004 Aviva plc increases stake in Emap plc.
18/11/2004 Aviva plc increases stake in Emap plc.