Air New Zealand 2008 Annual Report Download - page 4

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AIR NEW ZEALAND
STATEMENT OF FINANCIAL PERFORMANCE
FOR THE YEAR TO 30 JUNE 2008
NOTES
GROUP
2008
$M
GROUP
2007
$M
COMPANY
2008
$M
COMPANY
2007
$M
Operating Revenue
Passenger revenue 3,808 3,479 3,205 2,867
Cargo 416 396 412 392
Contract services 287 264 237 227
Other revenue 156 140 368 218
1 & 2 4,667 4,279 4,222 3,704
Operating Expenditure
Labour (966) (883) (831) (756)
Fuel (1,122) (1,109) (1,024) (1,006)
Maintenance (247) (214) (210) (178)
Aircraft operations (412) (388) (320) (301)
Passenger services (254) (223) (243) (210)
Sales and marketing (330) (295) (309) (270)
Other expenses (389) (257) (452) (491)
2 (3,720) (3,369) (3,389) (3,212)
Earnings Before Finance Costs, Depreciation,
Amortisation, Rental Expenses and Taxation 947 910 833 492
Depreciation and amortisation (318) (322) (194) (192)
Rental and lease expenses 2 (270) (298) (426) (458)
Earnings Before Finance Costs and Taxation 359 290 213 (158)
Finance income 117 92 143 114
Finance costs (172) (116) (140) (73)
Earnings Before Unusual Items and Taxation 304 266 216 (117)
Unusual items* - 3 - 4
Profit Before Taxation 304 269 216 (113)
Taxation (expense)/credit 4 (86) (48) (32) 60
Net Profit Attributable to Shareholders of Parent Company 218 221 184 (53)
Per Share Information:
Basic earnings per share (cents) 5 20.7 21.6
Diluted earnings per share (cents) 5 20.7 21.1
Dividend per share (cents):
Interim and final dividend (declared) 18 8.5 8.0
Special dividend 18 - 10.0
Net tangible assets per share (cents) 145 128
* Unusual items for the year ended 30 June 2007 comprise business reorganisation costs of $24 million offset by unhedged foreign exchange gains on
the lease return provision of $27 million (Group) and $28 million (Company).
GROUP
2008
$M
GROUP
2007
$M
Supplementary Information
Earnings before Unusual Items and Taxation (per NZ IFRS above) 304 266
Reverse net (gains)/losses on non-hedge accounted and ineffective
derivatives that hedge exposures in other financial periods:
Fuel derivatives (129) 1
Foreign exchange derivatives 20 (17)
Interest rate derivatives 2 9
Normalised Earnings Before Unusual Items and Taxation 197 259
Per Share Information:
Basic normalised earnings per share (cents) 13.9 21.2
Normalised Earnings represents Earnings stated in compliance with NZ IFRS after excluding net gains and losses on non-hedge accounted and
ineffective derivatives that hedge exposures in other financial periods.
The accompanying accounting policies and notes form part of these financial statements.
2