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AIR NEW ZEALAND GROUP
44
Financial Ratios
Five Year Statistical Review
2015 2014 2013 2012 2 011
Profitability
EBIT/Revenue
EBITDRA/Revenue
Return on Assets1
Return on Equity2
Ordinary Dividends Declared
Basic Earnings Per Ordinary Share
Fixed Cover3
Passenger Revenue/RPK
%
%
%
%
cps
cps
times
cents
10.7
23.6
8.1
16.6
16.0
29.2
4.4
13.7
8.7
21.6
6.9
14.0
10.0
23.9
4.6
13.7
6.7
19.4
5.5
10.0
8.0
16.5
3.9
13.6
3.5
15.9
2.9
4.2
5.5
6.5
2.6
13.5
2.5
15.3
2.2
5.4
5.5
7.5
2.4
13.1
Liquidity
Operating Cash Flow Per Share4cps 98.4 66.3 68.4 43.1 43.0
Balance Sheet
Gearing (excl. net capitalised aircraft operating leases)5
Gearing (incl. net capitalised aircraft operating leases)6
Debt to Equity Ratio7
Net Tangible Assets Per Share4
Working Capital Ratio8
%
%
%
$
%
29.8
52.4
244.8
1.66
48.2
17.0
42.9
212.5
1.60
49.4
11. 0
39.3
210.7
1.57
51.8
21.7
46.1
223.4
1.48
50.3
14.4
46.7
225.9
1.33
44.8
Shareholder Value
Closing Share Price 30 June
Weighted Average Number of Ordinary Shares
Total Number of Ordinary Shares
Total Market Capitalisation
Total Shareholder Return
$
m
m
$m
%
2.55
1,118
1,122
2,861
22.6
2.08
1,101
1,114
2,318
40.1
1.49
1,096
1,104
1,639
72.7
0.86
1,096
1,100
946
(23.2)
1.12
1,084
1,091
1,222
4.7
1. EBIT/Total Assets
2. Net Profit After Tax/Total Equity
3. EBITDRA/(Rental and Lease Expenses and Net Finance Costs)
4. Per-share measures based upon Ordinary Shares
5. Net Debt (excluding capitalised operating leases)/Net Debt plus Equity
6. Net Debt (including capitalised operating leases)/Net Debt plus Equity
7. Total Liabilities/Total Equity
8. Current Assets/(Current Assets plus Current Liabilities)
Certain comparatives within the five year statistical review have been reclassified for comparative purposes, to ensure consistency with the current
year. The Group adopted NZ IFRS 9 (2010) – Financial Instruments and NZ IFRS 9 (2013) – Hedge Accounting and amendments to NZ IFRS 9,
NZ IFRS 7 and NZ IAS 39 on 1 July 2014. Comparatives have been restated for the 2014 financial year only in respect of the adopted standards
and the amounts for the 2011 to 2013 financial years are as previously published.
Historical Summary of Debt
Five Year Statistical Review
As at 30 June
2015
$M
2014
$M
2013
$M
2012
$M
2011
$M
Debt
Secured borrowings
Unsecured bonds
Finance lease liabilities
Bank overdraft and short term borrowings
512
150
1,660
-
213
150
1,370
-
84
150
1,395
-
97
150
1,445
2
154
-
1,101
-
Bank and short term deposits
Net open derivatives held in relation to interest-bearing liabilities1
Non interest-bearing deposit (included within Other assets)
Interest-bearing secured deposit (included within Other assets)
2,322
1,321
24
-
141
1,733
1,234
(10)
-
125
1,629
1,150
28
44
184
1,694
1,029
4
13
180
1,255
860
(28)
-
170
Net Debt 836 384 223 468 253
Net aircraft operating lease commitments2 1,323 1,022 945 973 1,064
Net Debt (including off Balance Sheet) 2,159 1,406 1,168 1,441 1,317
1. Unrealised gains/losses on open debt derivatives
2. Net aircraft operating lease commitments for the next twelve months, multiplied by a factor of seven.