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113
QANTAS ANNUAL REPORT 2013
C ANALYSIS BY OPERATING SEGMENT1
2013
$M
Qantas
Domestic
Qantas
International
Qantas
Loyalty
Qantas
Freight Eliminations
Total Qantas
Brands2
Jetstar
Group
Corporate/
Unallocated6Eliminations Consolidated
REVENUE AND OTHER INCOME
External segment revenue
3,4
5,731 4,821 1,096 1,048 9 12,705 3,129 71 (3) 15,902
Intersegment revenue 487 675 109 8 (1,167) 112 159 (70) (201) –
Total segment revenue and
other income 6,218 5,496 1,205 1,056 (1,158) 12,817 3,288 1 (204) 15,902
Share of net prot/(loss)
of associates and jointly
controlled entities554–2–11(50)––(39)
Underlying EBITDAR
7
1,147 495 263 66 3 1,974 543 (171) 1 2,347
Non-cancellable operating
lease rentals (163) (68) – (5) – (236) (289) – – (525)
Depreciation and
amortisation (619) (673) (3) (25) – (1,320) (116) (14) – (1,450)
Underlying EBIT 365 (246) 260 36 3 418 138 (185) 1 372
Underlying net nance costs (180) (180)
Underlying PBT (365) 192
1 Qantas Domestic, Qantas International, Qantas Loyalty, Qantas Freight, Jetstar Group and Corporate/Unallocated are the operating segments of the Qantas Group.
2 Qantas Brands is a cash generating unit comprising those operations of the Qantas Group which are dependent on the Qantas eet and the Qantas brand to collectively generate
cashinows and derive value. Qantas Brands is managed through four operating segments being Qantas Domestic, Qantas International, Qantas Loyalty and Qantas Freight.
3 Includes settlement income of $125 million following the restructure of the Boeing 787 aircraft delivery schedule (reported equally across Qantas Domestic, Qantas International and
Jetstar Group).
4 External segment revenue includes the impact of the change in accounting estimates — passenger revenue of $134 million (Qantas Domestic $80 million and Qantas International
$54 million) as described in Note 1(C).
5 Qantas Domestic and Qantas International’s share of net prot/(loss) of associates and jointly controlled entities amounts to $4.5 million and $4.5 million, respectively.
6 Corporate/Unallocated is the only operating segment with Underlying PBT as the primary reporting measure. The primary reporting measure of other operating segments
is UnderlyingEBIT.
7 Underlying EBITDAR represents Underlying earnings before income tax expense, depreciation, amortisation, non-cancellable aircraft operating lease rentals and net nance costs.
2012
$M
Qantas
Domestic
Qantas
International
Qantas
Loyalty
Qantas
Freight Eliminations
Total Qantas
Brands
Jetstar
Group
Corporate/
Unallocated Eliminations Consolidated
REVENUE AND OTHER INCOME
External segment revenue 5,603 5,079 1,058 1,004 3 12,747 2,915 61 1 15,724
Intersegment revenue 460 691 99 9 (1,168) 91 161 (55) (197) –
Total segment revenue
and other income 6,063 5,770 1,157 1,013 (1,165) 12,838 3,076 6 (196) 15,724
Share of net prot/(loss)
of associates and jointly
controlled entities 3 3 – 16 – 22 (19) – – 3
Underlying EBITDAR 1,186 317 234 67 (6) 1,798 574 (178) 4 2,198
Non-cancellable operating
lease rentals (159) (103) – (4) – (266) (283) – – (549)
Depreciation and
amortisation (564) (698) (3) (18) – (1,283) (88) (13) – (1,384)
Underlying EBIT 463 (484) 231 45 (6) 249 203 (191) 4 265
Underlying net nance costs (170) (170)
Underlying PBT (361) 95