FIVE-YEAR FINANCIAL SUMMARY
2016
2015
2014
2013
2012
Statement of Comprehensive Income
$’000
$’000
$’000
$’000
$’000
Service revenue
907,953
844,346
916,868
700,836
697,588
Other revenue
111,064
88,142
71,991
61,955
77,590
Total revenue
1,019,017
932,488
988,859
762,791
775,178
Operating and other expenses
715,774
643,780
716,520
512,181
507,367
Depreciation and amortisation
97,490
94,294
86,009
75,632
75,980
Finance costs
123,942
121,373
120,368
108,349
104,783
Total expenses
937,206
859,447
922,897
696,162
688,130
Profit before income tax
81,811
73,041
65,962
66,629
87,048
Income tax
(25,242)
(22,249)
(20,363)
(20,248)
(26,284)
Net profit after tax
56,569
50,792
45,599
46,381
60,764
2016
2015
2014
2013
2012
Statement of Financial Position
$’000
$’000
$’000
$’000
$’000
Current assets
188,616
170,982
181,733
138,015
141,243
Non-current assets
4,350,521
4,182,941
4,141,830
3,873,914
3,605,832
Total assets
4,539,137
4,353,923
4,323,563
4,011,929
3,747,075
Current liabilities
369,343
371,562
392,565
307,624
510,475
Non-current liabilities
2,613,979
2,463,189
2,395,242
2,301,388
1,901,698
Total liabilities
2,983,322
2,834,751
2,787,807
2,609,012
2,412,173
Net assets
1,555,815
1,519,172
1,535,756
1,402,917
1,334,902
YARRA VALLEY WATER ANNUAL REPORT 2015-16
23

 

YEAR IN REVIEW
RETURN ON EQUITY (%)
RETURN ON AVERAGE ASSETS (%)
5
6
4
5
4
3
3
2
2
1
1
0
0
07/08
08/09
09/10
10/11
11/12
12/13
13/14
14/15
15/16
07/08
08/09
09/10
10/11
11/12
12/13
13/14
14/15
15/16
Return on equity has increased compared with the previous year
Return on average assets has increased slightly
primarily as a result of additional net water sales, developer
from last year due to additional net water sales
revenue and lower finance charges, partially offset by the
and developer activity revenues.
impairment of land and buildings and higher taxation expense.
GEARING RATIO (%)
INTEREST BEARING DEBT TO ASSETS
NET PROFIT AFTER TAX ($M)
60
80
70
50
60
40
50
30
40
30
20
20
10
10
0
0
07/08
08/09
09/10
10/11
11/12
12/13
13/14
14/15
15/16
07/08
08/09
09/10
10/11
11/12
12/13
13/14
14/15
15/16
Gearing ratio has increased slightly as the borrowing
The profit performance has increased from the previous
levels have increased at a greater rate than the assets.
year primarily as a result of higher revenues from service,
usage, trade waste charges and continued growth in
developer activity levels.
INTEREST COVER (TIMES)
CAPITAL EXPENDITURE ($M)
2.5
300
250
2.0
200
1.5
150
1.0
100
0.5
50
0
0
07/08
08/09
09/10
10/11
11/12
12/13
13/14
14/15
15/16
07/08
08/09
09/10
10/11
11/12
12/13
13/14
14/15
15/16
Interest cover has decreased primarily due to lower
Capital expenditure has increased compared with the prior
net operating cash flows largely caused by timing
year primarily as a result of major infrastructure work
differences between payments for bulk water
including Amaroo Main Sewer. We continue to focus on
purchases and billing of customers.
the achievement of efficient outcomes through innovative
design and delivery of our capital expenditure program.
24
YARRA VALLEY WATER ANNUAL REPORT 2015-16