Summary financial statements

Reed Elsevier NV
Summary profit and loss account

for the year ended 31 December 2002		 2002
 Eurom		 2001
Eurom

Share of turnover of joint ventures 		   
3,991		  
3,671
    


Operating loss (before joint ventures)

Share of operating profit of joint ventures

      Before amortisation and exceptional items

      Amortisation and exceptional items

    


(3)



904

(498)

  


(3)



800

(482)

    


Operating profit including joint ventures

Non operating exceptional items (including Euro(9)m (2001: Euro20m) share of joint ventures)

Net interest (including Euro171m (2001: Euro177m) share of joint ventures)

    
403

(9)

(164) 		 
315

20

(114)		    


Profit on ordinary activities before taxation

Tax on profit on ordinary activities

    
230

(86)
  
221

(120)		    


Profit attributable to ordinary shareholders

Equity dividends paid and proposed

    
144

(221)		  
101

(221)		    

Retained loss taken to reserves 		   
(77)		  
(120)		    

Basic earnings per share

Diluted earnings per share

Adjusted earnings per share 		   
Euro0.18

Euro0.18

Euro0.69		  
Euro0.13

Euro0.13

Euro0.64		    

Adjusted earnings per share is based upon the Reed Elsevier NV shareholders’ 50% share of the adjusted profit attributable of the Reed Elsevier combined businesses.
     
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