New Zealand Gazette – 2005 – No. 127

Page 3088

✨ Financial Performance Measures



HORIZON ENERGY DISTRIBUTION LIMITED

Requirement 14 - Financial and Efficiency Performance Measures

For the year ended 31 March 2005

2005 2004 2003 2002

1) Financial Performance Measures

(a) Return on Funds | 11.73% | 14.77% | 15.90% | 19.80% Ⓐ |
(b) Return on Equity | 8.78% | 13.19% | 15.34% | 22.26% |
(c) Return on Investment | 7.04% | 27.45% Ⓑ | 9.97% | 12.68% Ⓐ |

Ⓐ 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% Ⓐ |

Ⓑ 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

2005 2004 2003 2002

(a) Direct Line Costs per kilometre | $929 Ⓑ | $677 | $608 Ⓐ | $1,158 |
(b) Indirect Line Costs per Customer | $81 | $69 | $65 Ⓐ | $75 |

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

Ⓑ The increase in direct line costs per kilometre from 2004 is primarily attributable to increased maintenance resulting from damage caused by extreme weather events.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 127


Gazette.govt.nz — PDF NZ Gazette 2005, No 127




✨ LLM interpretation of page content

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

🏭 Trade, Customs & Industry
Financial Performance, Efficiency Measures, Return on Investment, Direct Line Costs, Indirect Line Costs