Cathay Pacific 2005 Annual Report Download - page 23

Download and view the complete annual report

Please find page 23 of the 2005 Cathay Pacific annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 96

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96

21
Cathay Pacific Airways Limited Annual Report 2005
Floating Fixed
Group interest rate profile: borrowings
%
2001 2002 2003 2004 2005
0
20
40
60
80
100
Group borrowings before and after derivatives
EUR GBP HKD JPY USD SGD Others
HK$ million
Others include CAD, KRW, NZD and TWD.
After derivatives
Before derivatives
0
3,000
6,000
9,000
12,000
15,000
18,000
Value added
The following table summarises the distribution of the Group’s value added in 2004 and 2005.
• The Group value added decreased by HK$751
million mainly due to an increase in the cost of fuel.
• Dividends paid and proposed decreased by HK$571
million while the amount retained for re-investment
and future growth decreased by HK$349 million.
2005 2004
HK$M HK$M
Total revenue 50,909 42,761
Less: Purchases of goods and services (33,778) (24,908)
Value added by the Group 17,131 17,853
Add: Share of profits of associates 269 298
Total value added available for distribution 17,400 18,151
Applied as follows:
To employees
– Salaries and other staff costs 9,025 8,842
To governments
– Corporation taxes 500 446
To providers of capital
– Dividends – paid 676 674
– proposed 947 1,520
– Minority interests 170 99
– Net finance charges 444 583
Retained for re-investment and future growth
– Depreciation 3,963 3,764
– Profit after dividends 1,675 2,223
Total value added 17,400 18,151
Financial Review