New Zealand Gazette – 1999 – No. 144

Page 3455

✨ Financial Performance Measures



BAY OF PLENTY ELECTRICITY LIMITED

Performance Measures for the purposes of the Electricity (Information Disclosure) Regulations 1999

Derivation Table Symbol in formula Calculations ROF ROE ROI
Earnings before interest and tax (EBIT) a 9,331,842 9,331,842
Net profit after tax (NPAT) n N/A 3,886,743 N/A
Amortised Goodwill add N/A add N/A
Subvention Payment s add 0
Depreciation of SFA at BV d add 1,298,220 add 1,298,220
OCA Depreciation add 1,298,220
ODV Depreciation tax adjustment deduct 1,298,220 deduct 1,298,220
Subvention Payment tax adjustment N/A N/A N/A N/A
Interest Tax Shield q N/A N/A N/A 1,207,415
Revaluations r
Income tax p = a + g + s + d 9,331,842 = n + g + s' - s - b 1,884,729

| Numerator (as adjusted) | | | | | |
| Fixed Assets at year beginning (FA₀) | | | 73,575,000 | | 73,575,000 |
| Fixed Assets at year end (FA₁) | | add | 66,194,947 | | 66,194,947 |
| Net Working Capital at year beginning (NWC₀) | | add | -1,606,000 | N/A | -1,606,000 |
| Net Working Capital at year end (NWC₁) | | add | 31,174,157 | | 31,174,157 |
| Average total funds employed (ATFE) | c | = (FA₀ + FA₁ + NWC₀ + NWC₁)/2 | | divide by 2 | 84,669,052 |

| Total Equity at year beginning (TE₀) | | | N/A | 62,971,000 | |
| Total Equity at year end (TE₁) | | | N/A | 64,804,725 | |
| Average total equity | k | = (TE₀ + TE₁)/2 | N/A | divide by 2 | 63,887,863 |

| WUC at year beginning (WUC₀) | | | 0 | | 0 |
| WUC at year end (WUC₁) | | add | 0 | | 0 |
| Average Total Works under Construction | e | = (WUC₀ + WUC₁)/2 | 0 | divide by 2 | 0 |

| Revaluations | r | | N/A | | N/A |

| Goodwill asset at year beginning (GW₀) | | | N/A | | N/A |
| Goodwill asset at year end (GW₁) | | add | | add | |
| Average Goodwill asset | m | = (GW₀ + GW₁)/2 | N/A | divide by 2 | 0 |

| Subvention payment at year beginning (S₀) | | | N/A | | N/A |
| Subvention payment at year end (S₁) | | add | | add | |
| Subvention payment tax adjustment at year beginning | | | N/A | | N/A |
| Subvention payment tax adjustment at year end | | | N/A | deduct | |
| Average subvention payment & related tax adjustment | v | = (S₀ + S₁ + s₀' + s₁')/2 | | divide by 2 | 0 |

| System Fixed assets at year beginning at book value (SFAbv₀) | | | 70,911,000 | | 70,911,000 |
| System Fixed assets at year end at book value (SFAbv₁) | | add | 63,459,000 | add | 63,459,000 |
| Average Fixed assets at book value | f | = (SFAbv₀ + SFAbv₁)/2 | | divide by 2 | 67,185,000 |

| System Fixed assets at year beginning at ODV value (SFAodv₀) | | add | 70,911,000 | add | 70,911,000 |
| System Fixed assets at year end at ODV value (SFAodv₁) | | add | 63,459,000 | add | 63,459,000 |
| Average value of system fixed assets at ODV value | h | = (SFAodv₀ + SFAodv₁)/2 | | divide by 2 | 67,185,000 |

| Denominator (as adjusted) | | = c - e + f + h | 84,669,052 | = k - m + v + f + h | 63,887,863 | = c - e - v₁ + r + h | 84,669,052 |

| Financial Performance Measure: | | EBIT^AD / ATFE^AD x 100/1 | 11.02% | NPAT^AD / ATE^AD x 100/1 | 6.09% | EBIT^AD / ATFE^AD x 100/1 | 7.37% |

Key:

  • t = standard entity tax rate
  • bv = book value
  • ADJ = as adjusted
  • odv = optimised deprival valuation
    • subscript “0” = beginning of the financial year
    • subscript “1” = end of the financial year


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🏭 Performance Measures for Bay of Plenty Electricity Limited (continued from previous page)

🏭 Trade, Customs & Industry
Electricity, Financial Performance, Performance Measures, Electricity (Information Disclosure) Regulations 1999