✨ Financial Performance Measures
4256
NEW ZEALAND GAZETTE, No. 173
30 NOVEMBER 2009
NGC HOLDINGS LIMITED
GAS TRANSMISSION ACTIVITIES
FINANCIAL AND EFFICIENCY PERFORMANCE MEASURES
FOR THE YEAR ENDED 30 JUNE 2009
| 2009 NZ IFRS¹ |
2008 NZ IFRS¹ |
2007 NZ IFRS¹ |
2006 PRE-IFRS NZ GAAP |
|
|---|---|---|---|---|
| 1. FINANCIAL PERFORMANCE MEASURES | ||||
| a (i) Accounting return on total assets (excluding current borrowings in working capital) | 13.49% | 12.25% | 10.96% | 8.43% |
| a (ii) Accounting return on total assets (including current borrowings in working capital) | 14.26% | 13.31% | 11.29% | - |
| b Accounting return on equity | 20.59% | 20.13% | 29.67% | 4.81% |
| c (i) Accounting rate of profit (excluding current borrowings in working capital) | 8.88% | 8.88% | 7.18% | 27.00% |
| c (ii) Accounting rate of profit (including current borrowings in working capital) | 9.38% | 9.64% | 7.40% | - |
| 2. EFFICIENCY PERFORMANCE MEASURES | ||||
| a Direct line costs per kilometre³ | $4,366 | $3,170 | $3,239 | $4,810 |
| b Indirect line costs per gas customer⁴ | $1,085,429 | $1,149,180 | $1,119,079 | $1,263,156 |
¹ The financial performance ratios have been prepared under NZ IFRS for 2009, 2008 and 2007 years. The 2007 year is different as compared to the previously disclosed 2007 ratios prepared under pre-IFRS NZ GAAP. Key reasons for the changes under the transition to NZ IFRS are:
- Software assets classified as property, plant and equipment under pre-IFRS NZ GAAP are reclassified as intangible assets under NZ IFRS. This reduces fixed assets which therefore reduces average capital employed.
- Deferred tax is calculated using the balance sheet approach under NZ IFRS. This resulted in an increase in the deferred liability and a corresponding decrease in equity.
² Re-disclosed due to restated cash tax.
³ Direct line costs per kilometre including FG and UFG is $5,155, $6,186, $6,622 and $7,410 for 2009, 2008, 2007 and 2006 respectively.
⁴ Indirect line costs excludes fuel gas (FG) and unaccounted for gas (UFG). Indirect line costs per gas customer including FG & UFG is $1,210,394, $1,627,152, $1,597,242 and $1,561,903 for 2009, 2008, 2007 and 2006 respectively.
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NZ Gazette 2009, No 173
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Financial and Efficiency Performance Measures for NGC Holdings Limited
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💰 Finance & RevenueFinancial Performance, Efficiency Measures, Accounting Return, Direct Line Costs, Indirect Line Costs, NZ IFRS, NZ GAAP, NGC Holdings Limited