Cathay Pacific 2015 Annual Report Download - page 29
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Please find page 29 of the 2015 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.Annual Report 2015
27
Financial Review
0
10,000
30,000
50,000
40,000
20,000
Borrowings before and after derivatives
HK$million
EUR HKD JPY USD Others
Beforederivatives
Afterderivatives
OthersincludeSGD.
0
20,000
60,000
80,000
100,000
0
0.2
0.6
0.8
1.0
40,000 0.4
2011 2012 2013 2014 2015
HK$million
Net debt and equity
FundsattributabletotheshareholdersofCathayPacic
Netborrowings
Netdebt/equityratio
Times
%
0
20
40
60
80
100
2011 2012 2013 2014 2015
Interest rate prole: borrowings
Fixed
Floating
Borrowings and capital
• Borrowings decreased by 3.1% to HK$63,105 million in
2015 from HK$65,096 million in 2014.
• Borrowings are mainly denominated in United States
dollars, Hong Kong dollars, Japanese yen and Euros, and
are fully repayable by 2027, with 49.1% currently at fixed
rates of interest after taking into account derivative
transactions.
• Liquid funds, 76.9% of which are denominated in United
States dollars, decreased by 2.1% to HK$20,647 million.
• Net borrowings (after liquid funds) decreased by 3.5% to
HK$42,458 million.
• Funds attributable to the shareholders of Cathay Pacific
decreased by 7.3% to HK$47,927 million. This was in part
due to unrealised hedging losses of HK$5,417 million
recognised in the cash flow hedge reserve, offset by
retained profit and other reserve movements.
• The net debt/equity ratio increased from 0.85 times to
0.89 times.