Telstra 2005 Annual Report Download - page 65

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www.telstra.com.au/abouttelstra/investor 63
five year financial summary
2005 2004 2003 2002 2001
$m $m $m $m $m
Sales revenue 22,161 20,737 20,495 20,196 18,679
Total revenue (including interest) 22,760 21,335 21,700 20,928 23,086
EBITDA (1) 10,771 10,175 9,170 9,483 9,834
Profit before income tax expense 6,269 5,848 4,928 5,446 6,297
Net profit after minorities 4,447 4,118 3,429 3,661 4,058
Dividends declared for the fiscal year (2) 4,978 3,284 3,474 2,830 2,445
Dividends declared for the fiscal year (cents per share) (2) 40.0 26.0 27.0 22.0 19.0
Total assets 36,310 34,993 35,599 38,219 38,003
Gross debt 13,330 11,854 12,272 13,726 13,990
Net debt 11,790 11,167 10,972 12,268 12,505
Shareholders' equity 14,881 15,361 15,422 14,106 13,722
Capital expenditure and investments (including
capitalised interest) 4,219 3,757 3,437 3,777 7,712
Free cash flow (operating cash flows less investing
cash flows) 4,354 4,163 4,565 3,840 229
Financial Ratios % %%%%
Return on average assets 20.4 19.4 16.3 17.5 21.6
Return on average equity 29.4 26.8 23.2 26.8 32.7
EBIT interest cover (times) (1) 8.5 8.3 6.4 7.0 9.0
EBITDA interest cover (times) (1) 13.0 12.9 10.2 10.7 12.7
Gross debt to capitalisation (3) 47.3 43.6 44.3 49.3 50.5
Net debt to capitalisation (4) 44.2 42.1 41.6 46.5 47.7
Net debt to EBITDA (1) 1.1 1.1 1.2 1.3 1.3
(1) Earnings before interest, income tax expense, depreciation and amortisation (EBITDA) reflects our net profit prior to including the effect of interest revenue,
borrowing costs, income taxes, depreciation and amortisation.Similarly, earnings before interest and income tax expense (EBIT) reflects our net profit prior to
including the effects of interest revenue, borrowing costs and income taxes. EBITDA and EBIT are not USGAAP measures of income or cash flow from operations
and should not be considered as an alternative to net income as an indication of our financial performance or as an alternative to cash flow from operating
activities as a measure of our liquidity. EBITDA and EBIT are useful to investors because analysts and other members of the investment community largely view
them as key and widely recognised measures of operating performance.
(2) Dividends declared in 2005 include a 6 cent special dividend paid with the interim dividend and a 6 cent special dividend to be paid with the final dividend.
Dividends declared in 2003 included a 3 cent special dividend.
(3) Based on gross debt (total current and non current borrowings) as a percentage of gross debt plus shareholders' equity.
(4) Based on net debt (gross debt less liquid interest bearing assets) as a percentage of net debt plus shareholders' equity.