Qantas 2002 Annual Report Download - page 52

p50 2002 QANTAS ANNUAL REPORT
Unit 2002 2001 2000 1999 1998
Statement of financial performance
Sales and operating revenue* $M 11,322.6 10,188.2 9,106.8 8,448.7 8,131.5
Expenditure $M (10,643.3) (9,492.4) (8,232.8) (7,686.1) (7,549.8)
Earnings before interest and tax $M 679.3 695.8 874.0 762.6 581.7
Net borrowing costs $M (48.3) (98.7) (111.2) (100.1) (103.7)
Profit from ordinary activities before tax $M 631.0 597.1 762.8 662.5 478.0
Income tax expense $M (201.7) (177.4) (244.9) (241.6) (173.0)
Net profit $M 429.3 419.7 517.9 420.9 305.0
Outside equity interests in net (profit)/loss $M (1.3) (4.3) (0.6) 0.7 (0.2)
Net profit attributable to members of the company
for the year $M 428.0 415.4 517.3 421.6 304.8
Net profit attributable to members of the company
for the six months to 31 December $M 153.5 262.9 337.8 222.9 165.8
Net profit attributable to members of the company
for the six months to 30 June $M 274.5 152.5 179.5 198.7 139.0
Share information
Earnings per share cents 29.1 33.0 42.8 35.4 26.8
Dividends per share cents 17.0 20.0 59.0 32.5 13.5
Dividend payout ratio % 58.4 60.6 137.9 91.8 50.4
Share price – high $ 4.92 4.25 5.28 5.00 3.21
Share price – low $ 2.60 2.36 3.12 2.27 2.13
Share price – closing $ 4.60 3.50 3.38 4.99 2.43
Weighted average number of ordinary shares M 1,469.4 1,258.5 1,209.3 1,189.7 1,138.6
Net tangible asset backing per share $ 2.61 2.51 2.34 2.52 2.49
Earnings before interest and tax
International airline operations $M 202.8 458.7 374.8 308.3 271.9
Domestic airline operations $M 298.2 127.4 272.0 256.8 213.4
Subsidiary operations $M 178.3 109.7 169.4 136.7 96.4
Items previously shown as abnormal $M ––57.8 60.8 –
Earnings before interest and tax $M 679.3 695.8 874.0 762.6 581.7
Performance indicators
Interest cover times 14.1 7.0 7.9 7.6 5.6
Return on shareholders’ equity (excl. operating leases) % 10.1 12.6 18.1 13.8 10.3
Return on shareholders’ equity (incl. operating leases) % 12.0 10.6 18.3 14.6 10.8
Statement of cash flows
Net cash provided by operating activities $M 1,143.3 1,100.7 1,599.8 1,208.3 1,218.4
Net cash (used in) investing activities $M (2,306.1) (871.3) (262.7) (628.9) (668.0)
Net cash provided by/(used in) financing activities $M 1,688.8 (659.0) (1,542.0) (396.4) (592.3)
Net increase/(decrease) in cash held $M 526.0 (429.6) (204.9) 183.0 (41.9)
Capital expenditure $M 2,463.4 995.5 1,141.8 1,233.3 673.0
Statement of financial position
Total assets $M 14,801.5 12,513.6 12,007.1 11,226.6 10,358.8
Total liabilities $M 10,548.0 9,197.7 9,142.7 8,166.7 7,396.4
Net assets $M 4,253.5 3,315.9 2,864.4 3,059.9 2,962.4
Contributed equity $M 2,946.6 2,173.0 1,882.0 1,882.0 1,177.3
Reserves $M 56.3 54.3 54.0 52.8 689.0
Retained profits $M 1,239.1 1,078.0 926.8 1,124.1 1,094.1
Outside equity interests in controlled entities $M 11.5 10.6 1.6 1.0 2.0
Total shareholders’ equity $M 4,253.5 3,315.9 2,864.4 3,059.9 2,962.4
Statement of financial position statistics
Net debt on balance sheet $M 1,904.6 1,316.4 925.8 782.8 737.4
Net debt including off balance sheet debt $M 4,110.0 3,793.9 2,503.6 2,134.7 2,226.8
Net debt including off balance sheet debt
and revenue hedge receivables $M 3,903.8 3,464.3 2,128.9 1,862.5 1,856.8
Net debt to net debt plus equity ratio 31:69 28:72 24:76 20:80 20:80
Net debt to net debt plus equity
including off balance sheet debt ratio 50:50 55:45 48:52 42:58 44:56
Net debt to net debt plus equity including off
balance sheet debt and revenue hedge receivables ratio 49:51 53:47 44:56 39:61 40:60
* Excludes proceeds on sale (and on sale and leaseback) of non-current assets, and interest revenue which is included in net borrowing costs.
qantas group five-year summary
for the year ended 30 June