Five-year financial performance
Five-year financial performance
YEAR ENDED 30 JUNE ($ MILLION)
2023
2022
2021
2020
2019
PROFIT OR LOSS Total revenue – continuing operations 1 Adjusted EBITDA – continuing operations 1 Depreciation and amortisation – continuing operations 1 Adjusted EBIT – continuing operations 1 Net profit – continuing operations 1 Total revenue – discontinued operations Adjusted EBITDA – discontinued operations Depreciation and amortisation – discontinued operations Adjusted EBIT – discontinued operations Net profit – including discontinued operations 2
1,192.3
1,103.4
1,052.3
1,088.8
1,130.2
335.1
336.3
341.9
335.2
347.1
(204.8)
(194.2)
(180.2)
(181.5)
(174.8)
130.3 112.6 258.8 188.2
142.1 102.5 235.6 173.7
161.7 130.1 227.0 171.6
227.2
239.0
40.6
28.8
205.2 154.8
188.4 138.7
(53.3)
(95.6)
(89.9)
(81.3)
(72.0)
134.9
78.1
81.7
73.5
66.7
1,715.8
160.9
194.6
97.3
84.0
BALANCE SHEET Total equity
3,958.0 7,527.6 1,933.1
2,430.1 6,812.2 3,296.8
2,335.4 6,519.5 3,110.6
2,259.7 6,380.9 2,918.1
2,349.4 6,061.0 2,665.6
Total assets
Economic net debt 3
CASH FLOW Operating cash flow Capital expenditure
517.1
518.8
499.1
397.3
348.1
(639.0) (169.9)
(558.8) (169.1)
(516.2) (165.8)
(476.4) (167.0)
(418.4) (164.1)
Dividends paid
KEY FINANCIAL MEASURES Adjusted EBITDA/total revenue 1
28.1% 10.9% 52.6%
30.5% 12.9% 35.7%
32.5% 15.4% 35.8%
37.9% 17.6% 35.4%
36.8% 18.1% 38.8%
Adjusted EBIT/total revenue 1
Equity/total assets
4.5%
Return on assets (adjusted EBITDA/assets) 1
4.9%
7.9%
7.7%
8.0%
33.1%
Gearing 4
58.2%
56.8%
55.5%
52.5%
Net interest cover (adjusted EBIT/net interest costs) (times)
1.8
2.1
2.2
1.8 9.5
1.8 8.3
171.5 22.25
Earnings (NPAT) per share (cents)
15.9
19.3
Dividends declared, cents per share
16.75
16.75
16.50
16.50
1. Excludes contribution from metering segment (which was sold on 30 June 2023) for all periods present. 2. One-off items included in total net profit: FY23 includes a $1,509.9 million gain on the 50% sale of the metering operations. FY22 includes a $40.2 million non-cash impairment. FY20 includes a $32.0 million non-cash impairment. FY19 includes a $46.6 million non-cash impairment. 3. Economic net debt is borrowings and lease liabilities net of cash and cash equivalents and deposits. 4. Gearing is defined as economic net debt to economic net debt plus adjusted equity. Adjusted equity means total equity adjusted for hedge reserves.
52
Vector Annual Report 2023
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