Cathay Pacific 2009 Annual Report Download - page 100

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2009
2008
(restated)
Consolidated profit and loss summary HK$M
Passenger services 45,920 57,964
Cargo services 17,255 24,623
Catering, recoveries and other services 3,803 3,976
Turnover 66,978 86,563
Operating expenses (62,499) (94,124)
Operating profit/(loss) 4,479 (7,561)
Profit on disposal of associate/investment 1,254 –
Settlement of the United States Department of Justice cargo investigations
–(468)
Net finance charges (847) (1,012)
Share of profits/(losses) of associates 261 (764)
Profit/(loss) before tax 5,147 (9,805)
Taxation (283) 1,333
Profit/(loss) for the year 4,864 (8,472)
Profit attributable to minority interests (170) (224)
Profit/(loss) attributable to owners of Cathay Pacific 4,694 (8,696)
Dividends paid –(2,438)
Retained profit/(loss) for the year 4,694 (11,134)
Consolidated statement of financial position summary HK$M
Fixed and intangible assets 73,345 73,821
Long-term receivables and investments 14,349 14,530
Borrowings (42,642) (40,280)
Liquid funds less bank overdrafts 16,511 15,082
Net borrowings (26,131) (25,198)
Net current liabilities (excluding liquid funds and bank overdrafts) (12,864) (16,887)
Other long-term payables (1,059) (4,606)
Deferred taxation (5,255) (4,831)
Net assets 42,385 36,829
Financed by:
Funds attributable to owners of Cathay Pacific 42,238 36,709
Minority interests 147 120
Total equity 42,385 36,829
Per share
Shareholders’ funds HK$ 10.74 9.33
EBITDA HK$ 2.97 (0.91)
Earnings/(loss) HK cents 119.3 (221.0)
Dividend HK cents 10.0 3.0
Ratios
Profit/(loss) margin %7.0 (10.0)
Return on capital employed %8.7 (11.8)
Dividend cover Times 11.9 (73.7)
Cash interest cover* Times 5.1 3.7
Gross debt/equity ratio Times 1.01 1.10
Net debt/equity ratio Times 0.62 0.69
* Restated for 2000 to 2008.
Statistics
With the adoption of HKAS 1 (revised) “Presentation of Financial Statements” and HK (IFRIC) Interpretation 13
“Customer Loyalty Programmes”, the above consolidated profit and loss summary for 2008 and the consolidated
98