New Zealand Gazette – 2005 – No. 24

Page 581

✨ Financial Performance Measures



21 JANUARY 2005

NEW ZEALAND GAZETTE, No. 24

581

Contact Power Limited - Lines Business

Derivation Table of Financial Performance Measures from Financial Statements
Pursuant to Requirement 15 of the Electricity Information Disclosure Requirements 2004 Schedule 1 Part 7
For the Year Ended 31 March 2004

Derivation Table Input and Calculations Symbol in formula ROF ROE ROI
Operating surplus before interest and income tax from financial statements 4,292
Operating surplus before interest and income tax adjusted pursuant to requirement 18 (OSBIIT) 4,292
Interest on cash, bank balances, and short term investments (STI) 4,292 a 4,292 4,292
Net surplus after tax from financial statements 3,273
Net surplus after tax adjusted pursuant to requirement 18 (NSAT) 3,273 n 3,273 0
Amortisation of goodwill and amortisation of other intangibles 0 g add add add
Subvention payment 0 s add add add
Depreciation of SFA at BV (x) 3,473
Depreciation of SFA at ODV (y) 3,314
ODV depreciation adjustment 159 d add 339 339
Subvention payment tax adjustment 0 q deduct deduct deduct
Interest on put option liability 0 r
Revaluations (14,414) p (14,414)
Income tax charge 907 907

Numerator

OSBIIT(^{MV}) = a + g + s + d NSAT(^{AD}) = n + g + s + d OSBIIT(^{TAD}) = a + g + s + d + r(^{-T})
Fixed assets at end of previous financial year (FAs) 102,958
Fixed assets at end of current financial year (FA(_{1})) 111,983
Adjusted net working capital at end of previous financial year (ANWC(_{0})) 173
Adjusted net working capital at end of current financial year (ANWC(_{1})) (213)
Average total funds employed (ATFE) 107,465(^{c}) c 107,465 107,465
(or requirement 32 time-weighted average)
Total equity at end of previous financial year (TE(_{0})) 98,162
Total equity at end of current financial year (TE(_{1})) 105,353
Average total equity 100,758(^{k}) k 100,758
(or requirement 32 time-weighted average)
WUC at end of previous financial year (WUC(_{0})) 411
WUC at end of current financial year (WUC(_{1})) 439
Average total works under construction 426(^{e}) e deduct 426 deduct
(or requirement 32 time-weighted average)
Revaluations
Half revaluations (7,207) R/2 deduct
Intangible assets at end of previous financial year (IA(_{0})) 0
Intangible assets at end of current financial year (IA(_{1})) 0
Average total intangible asset 0(^{m}) m add
(or requirement 32 time-weighted average)
Subvention payment at end of previous financial year (S(_{0})) 0
Subvention payment at end of current financial year (S(_{1})) 0
Subvention payment tax adjustment at end of previous financial year 0
Subvention payment tax adjustment at end of current financial year 0 v add
Average subvention payment & related tax adjustment 0
System fixed assets at end of previous financial year at book value (SFA(_{BV0})) 98,671
System fixed assets at end of current financial year at book value (SFA(_{BV1})) 106,800
Average value of system fixed assets at book value 102,766(^{f}) f deduct 102,766 deduct
(or requirement 32 time-weighted average)
System fixed assets at year beginning at ODV value (SFA(_{ODV0})) 92,553
System fixed assets at end of current financial year at ODV value (SFA(_{ODV1})) 109,276
Average value of system fixed assets at ODV value 100,914(^{h}) h add 100,914 add
(or requirement 32 time-weighted average)

Denominator

| ATFE(^{AD}) = c - e + f + h | 105,187 |
| Ave (FEAD) = k - m + v + h | 98,480 |
| ATFE(^{TAD}) = c - e + f + r(^{-T}) | 97,980 |

Financial Performance Measure:

| ROF(^{MV}) = OSBIIT(^{MV})/ATFE(^{AD}) x 100 | 4.4 |
| ROE = NSAT(^{AD})/Ave(TEAD) x 100 | 3.7 |
| ROI(^{T}) = OSBIIT(^{TAD})/ATFE(^{TAD}) x 100 | 18.5 |

1 = maximum statutory income tax rate applying to corporate entities
BV = book value
Ave = average
odv = optimised deprival valuation
subscript ‘0’ = end of the previous financial year
subscript ‘1’ = end of the current financial year
ROF = return on funds
ROE = return on equity
ROI = return on investment



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 24


Gazette.govt.nz — PDF NZ Gazette 2005, No 24




✨ LLM interpretation of page content

💰 Contact Power Limited - Lines Business Financial Performance Measures (continued from previous page)

💰 Finance & Revenue
21 January 2005
Financial Performance, Electricity, Disclosure Requirements, ROF, ROE, ROI