New Zealand Gazette – 2002 – No. 170

Page 4258

✨ Financial Performance Report



NGC – Gas Distribution Activities

Statement of Performance Measures

For the year ended 30 June 2002

For the purposes of the Gas (Information Disclosure) Regulations 1997

2002 2001 2000 1999 1998
NGC/AGLNZE NGC/AGLNZE NGC/AGLNZE NGC Only NGC Only

1. Financial Performance Measures

a) Measures including abnormal items and earnings adjustments

  • Accounting Return on Total Assets
    11.37% | 16.27% | 14.44% | 15.35% | 10.14%

  • Accounting Return on Equity
    11.47% | 33.56% | 39.24% | 12.00% | 8.42%

  • Accounting Rate of Profit
    9.04% | 15.70% | 17.83% | 10.95% | 7.62%

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) 2002 and 2001 ratios are calculated inclusive of abnormal items. The 2002 Ratios include abnormal items of $4.9m being profit on the sale of the AGLNZE pipeline assets. In addition, the 2001 Ratios 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

  • Accounting Return on Total Assets
    8.43% | 11.89% | 11.91% | 11.43% | 10.14%

  • Accounting Return on Equity
    8.58% | 23.50% | 33.08% | 9.07% | 8.42%

  • Accounting Rate of Profit
    6.14% | 11.56% | 15.22% | 7.03% | 7.62%

e) Measures Adjusted to exclude abnormal items and earnings adjustments described above

  • Accounting Return on Total Assets
    8.43% | 8.77% | 6.66% | 11.43% | 10.14%

  • Accounting Return on Equity
    8.58% | 11.88% | 10.10% | 9.07% | 8.42%

  • Accounting Rate of Profit
    6.14% | 8.47% | 9.04% | 7.03% | 7.62%

2. Efficiency Performance Measures

  • Direct Line Costs per Kilometre
    $716 | $1,100 | $1,345 | $1,854 | $1,731

  • Indirect Line Costs per Gas Customer
    $155 | $71 | $64 | $65 | $90



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2002, No 170


Gazette.govt.nz — PDF NZ Gazette 2002, No 170




✨ LLM interpretation of page content

🏭 Statement of Performance Measures for NGC – Gas Distribution Activities (continued from previous page)

🏭 Trade, Customs & Industry
Financial Performance, Efficiency Measures, Accounting Return, Gas Distribution, NGC, AGLNZE