Cathay Pacific 2009 Annual Report Download - page 34

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Financial Review
23%
Current assets
7%
Intangible assets
53%
Aircraft and related equipment
4%
Buildings and other equipment
13%
Long-term investments
Total assets
HK$ million
0
10,000
20,000
40,000
50,000
60,000
Times
0.1
0.2
0.3
0.5
0.6
0.7
2005 2006 2007 2008 2009
Net debt and equity
30,000 0.4
Funds attributable to owners of Cathay Pacific
Net borrowings
Net debt/equity ratio
Interest rate profile: borrowings
%
0
20
40
60
80
100
2005 2006 2007 2008 2009
Fixed
Floating
EUR HKD JPY USD
Borrowings before and after derivatives
HK$ million
0
5,000
10,000
20,000
25,000
30,000
15,000
SGD Others
Before derivatives
After derivatives
Others include CAD, KRW, RMB and TWD.
Assets
Total assets as at 31st December 2009 were
HK$113,324 million.
During the year, additions to fixed assets were
HK$6,676 million, comprising HK$6,320 million for
aircraft and related equipment, HK$249 million for
buildings and HK$107 million for other equipment.
Borrowings and capital
Borrowings increased by 5.9% to HK$42,642 million
from HK$40,280 million in 2008.
Borrowings are mainly denominated in US dollars,
Hong Kong dollars, Singapore dollars, Japanese yen
and Euros, and are fully repayable by 2023 with
55% currently at fixed rates of interest after taking
into account derivative transactions.
Liquid funds, 48.2% of which are denominated in
US dollars, increased by 9.5% to HK$16,522 million.
Net borrowings increased by 3.7% to
HK$26,131 million.
Funds attributable to the owners of Cathay Pacific
increased by 15.1% to HK$42,238 million.
The net debt/equity ratio decreased from 0.69 times
to 0.62 times.
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