✨ Financial Performance Report
4028
NEW ZEALAND GAZETTE
No. 165
Natural Gas Corporation – Gas Distribution Activities
Statement of Performance Measures
For the year ended 30 June 2001
For the purposes of the Gas (Information Disclosure) Regulations 1997
| 2001 NGC/ AGLNZE | 2000 NGC/ AGLNZE | 1999 NGC Only | 1998 NGC Only | 1997 NGC Only | |
|---|---|---|---|---|---|
| 1. Financial Performance Measures | |||||
| a) Measures including abnormal items and earnings adjustments | |||||
| Accounting Return on Total Assets | 16.27% | 14.44% | 15.35% | 10.14% | 10.3% |
| Accounting Return on Equity | 33.56% | 39.24% | 12.00% | 8.42% | 8.6% |
| Accounting Rate of Profit | 15.70% | 17.83% | 10.95% | 7.62% | 6.7% |
| b) The accounting rate of profit for 2000 includes a revaluation increase of $9.9 million in respect of the NGC network. Excluding this amount, the accounting rate of profit would be reduced from 17.83% to 11.68% in 2000. | |||||
| c) The above ratios are calculated inclusive of abnormal item relating to the profit on sale of meters which are included as part of distribution activities, which amounted to $7.3 million net of tax (abnormal items in 2000: $2.8 million). In addition, they are calculated after adding back to earnings, the amortisation of identifiable intangible asset (pre-tax $1.4 million), and ODV write-downs through earnings of AGL NZE and after deducting from funds employed and shareholders funds the value of the identifiable intangible asset of AGL NZE ($50 million). | |||||
| d) Measures Adjusted to exclude abnormal items (see Note 1.2 to the financial statements) | |||||
| Accounting Return on Total Assets | 11.89% | 11.91% | 11.43% | 10.14% | 10.3% |
| Accounting Return on Equity | 23.50% | 33.08% | 9.07% | 8.42% | 8.6% |
| Accounting Rate of Profit | 11.56% | 15.22% | 7.03% | 7.62% | 6.7% |
| e) Measures Adjusted to exclude abnormal items and earnings adjustments described above | |||||
| Accounting Return on Total Assets | 8.77% | 6.66% | 11.43% | 10.14% | 10.3% |
| Accounting Return on Equity | 11.88% | 10.10% | 9.07% | 8.42% | 8.6% |
| Accounting Rate of Profit | 8.47% | 9.04% | 7.03% | 7.62% | 6.7% |
| 2. Efficiency Performance Measures | |||||
| Direct Line Costs per Kilometre | $1,100 | $1,345 | $1,854 | $1,731 | $1,444 |
| Indirect Line Costs per Gas Customer | $71 | $64 | $65 | $90 | $132 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2001, No 165
Gazette.govt.nz —
NZ Gazette 2001, No 165
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Natural Gas Corporation Financial Performance Measures
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