Performance and progress against statement of corporate intent (SCI) metrics
Actual 2019
SCI Target
Leadership and People Staff culture
To be measured
in 2020 >FY18
Staff safety – serious harm injuries
1
Nil
Financial (values in $M) Group NOPAT
23.6
23.4
Commercial business NOPAT
8.0
7.6
Capital investment
46.3
71.7
Dividends
12.0
12.0
Total revenue
239.1
235.0
Earnings before interest, tax, depreciation and amortisation (EBITDA)
57.3
56.9
Earnings before interest and tax (EBIT)
33.2
33.4
Shareholder returns Dividend yield
4.9%
5.0%
Dividend payout
51.0% 44.0%
Return on equity
17.1%
16.9%
Return on equity, adjusted for IFRS fair value movements and asset revaluations
16.9%
16.7%
Profitability and efficiency Return on capital employed
18.0%
16.5%
Return on assets
13.7%
13.0%
Operating margin
23.9%
24.1%
Net Profit margin
10.3%
9.9%
Asset turnover
0.9
0.8
Leverage and solvency Equity multiplier
1.8
1.9
Gearing ratio (net)
25.4%
35.2%
Interest cover (before capitalised interest)
22.3
17.8
Solvency (current ratio)
0.7
0.7
Growth and investment Revenue growth
6.6%
5.6%
EBITDAF growth
5.2%
2.9%*
NPAT growth
3.0%
2.0%*
Capital employed growth
12.4%
24.6%
Capital renewal
1.9
3.1
* Restated to exclude the gain on sale of land in 2017-18
Definitions for the financial performance measures above can be found at the following link: https://treasury.govt.nz/sites/default/files/2015-09/fpm-soes.pdf
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