Air New Zealand 2008 Annual Report Download - page 55

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2008
$M
2007
$M
2006
$M
2005
$M
2004
$M
PROFITABILITY
EBIT/Revenue 1 % 7.7 6.8 3.9 5.9 6.7
EBITDRA/Revenue1% 20.3 21.3 18.1 19.3 20.0
Return on Total Gross Assets 2 % 28.6 29.7 16.6 20.3 22.3
Return on Assets 3 % 7.1 6.2 3.1 5.2 6.1
Return on Equity 4 % 13.8 15.9 6.0 11.7 13.7
Basic Earnings Per Ordinary Share 6 cps 20.7 21.6 9.6 21.4 24.4
Fixed Cover 7 times 2.9 2.8 2.5 3.3 3.2
Passenger Revenue/RPK c 13.0 12.9 12.1 11.4 11.7
LIQUIDITY
Operating Cash Flow Per Share 5,6 cps 70.5 44.5 47.2 55.6 55.1
BALANCE SHEET
Gearing (excl. net capitalised aircraft operating leases) 8 % (6.3) 13.0 5.8 (20.2) (11.6)
Gearing (incl. net capitalised aircraft operating leases) 9 % 45.5 53.1 51.9 42.3 48.8
Debt to Equity Ratio 10 % 218.5 236.2 200.2 165.5 214.4
Net Tangible Assets Per Share 5,6 $ 1.45 1.28 1.59 1.54 1.42
Working Capital Ratio 11 % 55.5 52.3 52.1 57.2 58.8
SHAREHOLDER VALUE
Closing Share Price 30 June 6 $ 1.09 2.64 1.18 1.45 2.00
Weighted Average Number of Ordinary Shares 6 m 1,055 1,022 1,001 786 591
Total Number of Ordinary Shares 6 m 1,057 1,052 1,003 1,000 600
Total Number of Convertible Preference Shares m - - - - 1,280
Market Capitalisation - Ordinary Shares $m 1,152 2,776 1,183 1,450 1,199
Total Market Capitalisation 12 $m 1,152 2,776 1,183 1,450 1,711
Total Shareholder Return % (58.7) 123.7 (18.6) (27.5) (25.9)
1. Excludes Unusual Items
2. EBITDRA/Total Gross Assets
3. EBIT/Total Assets
4. Net Income/Closing Shareholders Equity
5. Per-share measures based upon Ordinary Shares and Convertible Preference Shares
6. Comparatives have been adjusted for the share consolidation on 23 August 2004, by dividing or multiplying by the consolidation ratio of five as
appropriate.
7. EBITDRA/(Rental and Lease Expenses, Finance Income and Finance Costs)
8. Net Debt (excluding capitalised operating leases)/Net Debt plus Equity (Convertible notes treated as Equity)
9. Net Debt (including capitalised operating leases)/Net Debt plus Equity (Convertible notes treated as Equity)
10. Total Liabilities/Shareholders Equity
11. Current Assets/(Current Assets plus Current Liabilities)
12. Includes Ordinary Shares and Convertible Preference Shares. Convertible Preference Shares were divided by the consolidation ratio.
The Group adopted NZ IFRS on 1 July 2007. Only information from 2007 onwards is compliant with NZ IFRS. In accordance with exemptions available
under NZ IFRS 1, all previous information is compliant with previous GAAP. The nature of the adjustments which would make this information compliant
with NZ IFRS is provided within note 28.
AIR NEW ZEALAND
FINANCIAL RATIOS
FIVE YEAR STATISTICAL REVIEW
53