Cathay Pacific 1998 Annual Report Download - page 64

62 CATHAY PACIFIC AIRWAYS LIMITED ANNUAL REPORT 1998
Statistics
1998 1997 1996 1995 1994 1993 1992 1991 1990 1989
Consolidated Balance Sheet
Fixed assets
HK$M 49,201 42,827 39,126 29,650 24,539 22,756 20,639 17,192 14,229 11,549
Long-term receivables and
investments
HK$M 2,602 2,590 2,139 1,960 1,789 1,459 1,319 1,015 1,049 488
Current assets less current
liabilities
HK$M 6,111 9,862 13,488 8,182 8,385 9,408 9,233 5,867 4,546 2,537
Deferred taxation
HK$M (6,359) (5,802) (5,359) (3,954) (3,006) (1,951) (962) (355) (807) (659)
Deferred exchange
differences and other items HK$M (1,893) (2,296) (674) 981 2,264 1,723 1,496 2,394 2,862 2,802
Total assets less current
liabilities and deferred items HK$M 49,662 47,181 48,720 36,819 33,971 33,395 31,725 26,113 21,879 16,717
Financed by:
Shareholders’ funds
HK$M 24,696 25,606 25,325 17,064 15,454 14,410 13,320 11,525 9,792 8,176
Long-term financing HK$M 24,966 21,575 23,395 19,755 18,517 18,985 18,405 14,588 12,087 8,541
Total long-term
liabilities and equity HK$M 49,662 47,181 48,720 36,819 33,971 33,395 31,725 26,113 21,879 16,717
Gross borrowings
HK$M 27,284 23,214 26,181 21,917 22,079 21,192 20,167 16,828 13,560 11,167
Net borrowings
HK$M 14,958 8,795 5,865 7,796 7,061 6,799 6,165 5,412 4,454 2,919
Consolidated Profit and Loss Summary
Passenger services HK$M 18,532 21,851 23,680 22,128 20,027 18,321 18,284 16,459 15,823 13,952
Cargo services HK$M 7,040 7,782 6,850 6,699 5,616 4,277 3,974 3,671 3,332 2,899
Traffic turnover HK$M 25,572 29,633 30,530 28,827 25,643 22,598 22,258 20,130 19,155 16,851
Catering and other services HK$M 1,123 1,014 1,037 941 800 738 585 377 354 268
Total turnover HK$M 26,695 30,647 31,567 29,768 26,443 23,336 22,843 20,507 19,509 17,119
Operating profit
HK$M 397 2,401 3,790 3,769 3,157 2,577 3,621 3,653 3,618 3,937
Exceptional items
HK$M (869) (347) 541 – – – – – – –
Net finance charges HK$M (311) (335) (384) (597) (557) (280) (319) (238) (161) (146)
Net operating (loss)/profit HK$M (783) 1,719 3,947 3,172 2,600 2,297 3,302 3,415 3,457 3,791
Share of profits of
associated companies HK$M 172 306 363 379 381 316 233 176 136 114
(Loss)/profit before taxation HK$M (611) 2,025 4,310 3,551 2,981 2,613 3,535 3,591 3,593 3,905
Taxation HK$M 104 (291) (484) (516) (560) (288) (505) (622) (582) (570)
(Loss)/profit after taxation HK$M (507) 1,734 3,826 3,035 2,421 2,325 3,030 2,969 3,011 3,335
Minority interests HK$M (35) (40) (17) (57) (33) (32) (22) (19) (16) (14)
(Loss)/profit attributable to
shareholders
HK$M (542) 1,694 3,809 2,978 2,388 2,293 3,008 2,950 2,995 3,321
Dividends HK$M (339) (986) (1,821) (1,375) (1,203) (1,203) (1,203) (1,203) (1,203) (1,203)
(Loss)/retained profit for
the year HK$M (881) 708 1,988 1,603 1,185 1,090 1,805 1,747 1,792 2,118
Per Share
Shareholders’ funds
HK$ 7.30 7.56 7.37 5.96 5.39 5.03 4.65 4.02 3.42 2.85
Cash flow
HK$ 1.2 1.4 2.0 2.4 2.1 1.5 1.9 1.8 1.7 1.9
(Loss)/earnings
HK cents (16.0) 49.5 119.6 104.0 83.4 80.0 105.0 103.0 104.6 115.9
Dividend
HK cents 10.0 29.0 53.0 48.0 42.0 42.0 42.0 42.0 42.0 42.0
Share price
High
HK$ 8.9 16.4 14.9 12.8 15.7 15.3 12.4 10.2 10.7 10.4
Low
HK$ 4.7 5.4 10.6 10.0 10.2 8.5 8.0 7.0 6.8 7.3
Year-end
HK$ 7.7 6.3 12.2 11.8 11.3 15.0 9.5 10.0 7.0 8.3
Ratios (Note a)
Dividend cover
Times (1.6) 1.7 2.1 2.2 2.0 1.9 2.5 2.5 2.5 2.8
Gross debt equity ratio
Times 1.10 0.91 1.03 1.28 1.43 1.47 1.51 1.46 1.38 1.37
Net debt equity ratio
Times 0.61 0.34 0.23 0.46 0.46 0.47 0.46 0.47 0.45 0.36
Price/Earnings
Times (48.1) 12.7 10.2 11.3 13.5 18.8 9.0 9.7 6.7 7.2
Price/Shareholders’ funds
Times 1.1 0.8 1.7 2.0 2.1 3.0 2.0 2.5 2.0 2.9
Price/Cash flow
Times 6.4 4.5 6.1 4.9 5.4 10.0 5.0 5.6 4.1 4.4
Cost per ATK HK$ 2.25 2.57 2.64 2.80 2.81 2.84 2.97 3.00 2.92 2.80
Note a: Based on year end share prices, where applicable.