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107
Qantas Annual Report 2005
~Notes to the Financial Statements~
for the year ended 30 June 2005
Qantas Australian Airlines QantasLink Jetstar
Qantas
Holidays
Qantas Flight
Catering Eliminations Consolidated
Jun 05 Jun 04 Jun 05 Jun 04 Jun 05 Jun 04 Jun 05 Jun 04 Jun 05 Jun 04 Jun 05 Jun 04 Jun 05 Jun 04 Jun 05 Jun 04
ANALYSIS BY
BUSINESS SEGMENTS
Sales and operating
revenue
External segment revenue
10,458.7 9,603.0 305.5 265.8 561.9 565.4 440.1 34.0 707.8 711.1 174.8 174.4 ––12,648.8 11, 353.7
Inter-segment revenue
227.4 295.7 25.3 20.1 8.9 0.1 75.5 –233.6 283.3 377.3 362.8 (948.0) (962.0) ––
Total segment revenue
10,686.1 9,898.7 330.8 285.9 570.8 565.5 515.6 34.0 941.4 994.4 552.1 537.2 (948.0) (962.0) 12,648.8 11, 353.7
Share of net profit of
associates and joint
ventures
1.8 19.7 – – – – – – – – – – ––1.8 19.7
Earnings before interest
and tax
973.31977.4 (11.6)21.1 42.9297.0 44.1 (23.4) 50.9254.1 22.1290.0 – (98.0)31,121.7 1,098.2
Net borrowing costs
94.5 (133.6)
Profit from ordinary activities
before related income tax
expense
1,027.2 964.6
Income tax expense relating
to ordinary activities
262.8 (315.8)
Net profit
764.4 648.8
Depreciation and
amortisation
1,057.3 971.8 1.0 1.1 22.0 15.5 7.5 5.9 1.9 1.4 10.3 9.9 1,100.0 1,005.6
Non-cash (revenue)/
expense
(62.0) (19.1) 4.2 1.1 3.4 5.5 (0.3) –0.2 (0.1) (0.1) (0.2) (54.6) (12.8)
Assets
Segment assets
16,875.1 16,594.2 15.3 30.8 687.2 425.2 199.3 148.3 341.8 326.4 280.5 194.0 (608.5) (484.4) 17,790.7 17,234.5
Equity accounted
investments
342.3 338.4 – – – – – – 1.4 1.3 – – – – 343.7 339.7
Total assets
17,217.4 16,932.6 15.3 30.8 687.2 425.2 199.3 148.3 343.2 327.7 280.5 194.0 (608.5) (484.4) 18,134.4 17,574.2
Liabilities
Total liabilities
11,163.0 11, 36 4.7 32.5 39.8 434.6 199.6 267.0 240.8 223.2 249.6 195.7 123.8 (608.5) (484.4) 11,707.5 11,733.9
Acquisition of non-current
assets
1,581.6 1,886.6 1.2 0.1 55.4 104.6 36.0 12.2 2.6 1.2 6.1 2.3 – – 1,682.9 2,007.0
1 Includes segment revenue of $98.6 million.
2 Includes segment charges as follows: Australian Airlines $9.3 million; QantasLink $44.3 million; Qantas Holidays $7.6 million and Qantas Flight Catering $37.4 million.
3 Represents dividends received by Qantas from Q.H. Tours Limited of $58.3 million and Qantas Flight Catering Holdings Limited of $39.7 million.