FINANCIAL
OVERVIEW

FIVE YEAR
HISTORY

For years ended 30 June

($AUD million except where indicated) Actual(1)
2007/2008		 Actual(1)
2006/2007		 Actual(1)
2005/2006		 Actual(1)
2004/2005		 Actual
2003/2004
Paperlinx consolidated financial performance
Sales revenue 7,485(3) 7,839(3) 7,372(3) 7,574 6,212
Sales growth (%) (4.5) 6.2 (2.7) 21.9 71.7
Earnings from ordinary activities before depreciation,
amortisation, net interest and income tax 		254.3 286.5 257.1 293.0 300.7
Earnings from ordinary activities before interest and income tax 160.4 185.5 152.4 180.1 189.7
Profit from ordinary activities before income tax 100.4 114.6 87.3 111.6 141.2
Profit from ordinary activities after income tax (excluding ATC) 72.3 80.1 65.4 89.6 108.5
Profit from ordinary activities after income tax (including ATC) 72.3 80.1 65.4 166.6(2) 108.5
Financial statistics
Depreciation and amortisation expense 93.9 101.0 104.7 112.9 111.0
Net interest expense 60.0 70.9 65.1 68.5 48.5
Cash flow from operating activities 113.0 142.9 259.8 273.4 402.7
Capital expenditure – acquisitions 17.8 35.3 100.9 44.6 1,104.1
Capital expenditure – plant and equipment 326.0 177.4 101.4 86.3 54.7
Earnings from ordinary activities before
interest and income tax by segments
Merchanting and Paper Trading 192.4 205.2 188.9 194.1 147.5
Paper Manufacturing (1.9)(4) 10.2(4) (3.3)(4) 12.1 66.4
Corporate (30.1) (29.9) (33.2) (26.1) (24.2)
Total EBIT 160.4 185.5 152.4 180.1 189.7
Financial position summary
Current assets 2,678 2,874 2,881 2,674 3,000
Non-current assets 1,700 1,568 1,510 1,493 1,781
Total assets 4,378 4,442 4,391 4,167 4,781
Current liabilities 1,536 1,823 1,460 1,373 1,341
Non-current liabilities 917 714 1,322 1,231 1,626
Total liabilities 2,453 2,537 2,782 2,604 2,967
Net Assets/Total shareholders’ equity 1,925 1,905 1,609 1,563 1,814
Financial ratios
Basic earning per share (excluding ATC) (cents) 10.1 16.4 14.7 20.1 24.7
Basic earning per share (including ATC) (cents) 10.1 16.4 14.7 37.3(2) 24.7
Earnings per share growth (excluding ATC) (%) (38.4) 11.6 (26.9) (18.6) (33.1)
Return on average funds employed (%) 5.7 7.0 6.2 6.7 7.5
Return on average shareholders’ equity (%) 3.8 4.7 4.4 10.4(2) 6.2
Dividend per ordinary share (cents) 6.5 11.0 10.0 25.5 27.5
Dividend franking (%) 0 0 0 0 0
Net tangible asset per ordinary share ($) 2.59 2.58 2.49 2.40
Net interest cover (times) 2.0(5) 2.5(5) 2.3(5) 2.6 3.9
Gearing (Net debt/net debt and shareholders’ equity) (%) 28.7 24.3 36.0 35.9 36.3
Gearing (Net debt/shareholders’ equity) (%) 40.3 32.1 56.2 55.9 57.0
Other information
PaperlinX share price:
• Year’s high ($) 3.71 4.40 3.86 5.46 5.85
• Year’s low ($) 1.72 3.03 2.85 2.33 4.42
• Close as at 30 June ($) 1.72 3.72 3.12 3.01 4.85
Fully paid ordinary shares as at 30 June (millions) 453.1 448.7 446.2 446.2 446.1
Weighted average number of shares (millions) 450.8 447.6 446.2 446.1 439.9
Market capitalisation as at 30 June (millions) 779 1,669 1,392 1,343 2,163
Number of shareholders as at 30 June 57,002 62,663 73,223 90,889 109,011
Employee numbers as at 30 June 9,365 9,502 9,672 9,369 9,666

(1) Reported under AIFRS.
(2) Includes once only benefit of entering Australian Tax Consolidation regime of $77 million.
(3) Sales revenue is net of trade and settlement discounts.
(4) Paper Manufacturing reflects the formation of PaperlinX Office.
(5) Includes capitalised interest in 2008 of $18.8 million, $4.2 million in 2007 and $0.3 million in 2006.

 

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