Cathay Pacific 2005 Annual Report Download - page 22

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20 Cathay Pacific Airways Limited Annual Report 2005
Group net debt and equity
2001 2002 2003 2004 2005
HK$ million
Net borrowings
Funds attributable to Cathay Pacific shareholders
Times
Net debt/equity ratio
0
6,000
12,000
18,000
24,000
30,000
36,000
0
0.1
0.2
0.3
0.4
0.5
0.6
Group total assets
1%
Intangible assets
9%
Long-term investments
26%
Current
assets
5%
Buildings and
other equipment
59%
Aircraft and
related equipment
Financial Review
Dividends
• Dividends paid and proposed for the year are
HK$1,623 million representing a dividend cover
of 2.0 times.
• Dividends per share decreased from HK¢65
to HK¢48.
Assets
• Total assets as at 31st December 2005 amounted
to HK$78,254 million.
• During the year, additions to fixed assets were
HK$4,001 million, comprising HK$3,883 million for
aircraft and related equipment and HK$118 million
for other equipment.
Borrowings and capital
• Borrowings decreased by 0.8% to HK$22,455
million compared with HK$22,631 million in 2004.
• Borrowings are mainly denominated in US dollars,
Hong Kong dollars, Singapore dollars and Euros,
and are fully repayable by 2018 with 51% at fixed
rates of interest net of derivatives.
• Liquid funds, 67% of which are denominated in US
dollars, increased by 17.3% to HK$13,459 million.
• Net borrowings decreased by 19.1% to
HK$9,050 million.
• Funds attributable to Cathay Pacific shareholders
increased by 6.4% to HK$34,968 million.
• Net debt/equity ratio decreased from 0.34 times
to 0.26 times.