New Zealand Gazette – 2004 – No. 172

Page 4316

✨ Financial Performance Measures



HORIZON ENERGY DISTRIBUTION LIMITED

Requirement 14 - Financial and Efficiency Performance Measures

For the year ended 31 March 2004

2004 2003 2002 2001 2000

1) Financial Performance Measures

(a) Return on Funds | 14.77% | 15.90% | 19.80% ¹| 16.10% | 13.76% |
(b) Return on Equity | 13.19% | 15.34% | 22.26% ¹| 17.65% | 7.80% |
(c) Return on Investment | ² 27.45% | 9.97% | 12.68% ¹| 10.09% | 9.29% |

¹ For the 2002 year, this includes prior year revenue of $816,000 not previously accrued due to outstanding litigation and prior year transmission costs reversed of $716,000.

If the prior year revenue and adjustments were excluded, the 2002 Performance measures would read:

(a) Return on Funds | | | 17.49% |
(b) Return on Equity | | | 19.21% |
(c) Return on Investment | | | 11.13% |

² The higher Return on Investment for the 2004 year is due to the revaluation of Fixed Assets. If the revaluation was excluded, the Return on Investment would be 9.37%.

2) Efficiency Performance Measures

2004 2003 2002 2001 2000

(a) Direct Line Costs per kilometre | $677 ¹ | $608 | $1,158 | $999 | $1,176 |
(b) Indirect Line Costs per Customer | $69 ¹ | $65 | $75 | $59 | $88 |

¹ Direct Line costs and Indirect Line costs decreased significantly in the 2003 year due to the removal of costs associated with "Other" business.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2004, No 172


Gazette.govt.nz — PDF NZ Gazette 2004, No 172




✨ LLM interpretation of page content

🏭 Financial Statements Notes for Horizon Energy Distribution Limited (continued from previous page)

🏭 Trade, Customs & Industry
15 December 2004
Financial Statements, Audit, Electricity Information Disclosure Requirements, Return on Funds, Return on Equity, Return on Investment, Efficiency Performance Measures