FINANCIAL PERFORMANCE TRENDS
FIVE YEAR FINANCIAL PERFORMANCE
FINANCIAL PERFORMANCE TRENDS
YEAR ENDED 30 JUNE ($ MILLION)
2017
2016
2015
2014
2013
PROFIT OR LOSS – CONTINUING OPERATIONS 1 Total income
1,226.7
1,144.6 1,153.4 1,122.3 1,114.5 473.0 451.9 446.5 475.8
Adjusted EBITDA
474.4
Depreciation and amortisation
(199.6)
(194.6)
(179.0)
(168.5)
(158.4)
Adjusted EBIT
274.8 168.9
278.4 272.9 278.0 317.4
Net profit – continuing operations
58.9
88.3 114.4 129.3
PROFIT OR LOSS – DISCONTINUED OPERATIONS Total income
– – – –
110.7 140.6 136.6 164.7
Adjusted EBITDA
75.3
88.5
90.5 122.0
Depreciation and amortisation
(5.8)
(16.2)
(15.3)
(15.7)
Adjusted EBIT
69.5
72.3
75.2 106.3
Net profit - including discontinued operations
168.9
274.4 149.4 171.3 206.2
BALANCE SHEET Total equity
2,448.3 5,574.6 2,220.1
2,398.3 2,298.6 2,307.8 2,258.5 5,603.0 6,123.0 5,839.1 5,747.1 1,932.9 2,745.1 2,625.0 2,448.1
Total assets
Economic net debt (borrowings net of cash and deposits)
CASH FLOW Operating cash flow Capital expenditure
335.7
352.1 369.2 366.6 426.2
(354.2) (161.0)
(340.1) (159.2)
(311.8) (155.4)
(327.4) (156.7)
(283.4) (148.3)
Dividends paid
KEY FINANCIAL MEASURES Adjusted EBITDA/total income Adjusted EBIT/total income
38.7% 22.4% 43.9%
41.3% 39.2% 39.8% 42.7% 24.3% 23.7% 24.8% 28.5% 42.8% 37.5% 39.5% 39.3% 8.4% 7.4% 7.6% 8.3% 43.7% 53.6% 52.5% 50.9%
Equity/total assets
Return on assets (adjusted EBITDA/assets)
8.5%
Gearing
47.1%
Net interest cover – continuing ops (adjusted EBIT/net finance costs) (times) Earnings (NPAT) per share (cents) including discontinued activities
2.0
1.6
1.5
1.6
1.9
16.7
27.2
14.6
16.9
20.4
Dividends declared, cents per share (fully imputed)
16.00
15.75 15.50 15.25 15.00
1. Prepared on a continuing basis, excluding contribution from gas transmission and Non-Auckland gas distribution for all periods presented.
ADJUSTED EBITDA (CONTINUING OPERATIONS) $ MILLION
700
600
475.8
446.5
473.0
451.9
474.4
500
400
300
200
100
0
-100
FY13
FY14
FY15
FY16
FY17
TOTAL GROUP
REGULATED NETWORKS
GAS TRADING
TECHNOLOGY
CORPORATE
64
Vector://AR 17
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