2015 Annual Report Highlights

Company Overview

Infratil owns energy, transport and social infrastructure businesses that provide essential services to individuals and communities. If they are efficient and provide good services they create opportunities for profitable growth.

Full Annual Report 2015
Full Annual Report 2015
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60,400,000 public transport trips

5,500,000 airport passenger movements

Renewable electricity for 510,000 households (200,000 in Australia and 310,000 in New Zealand)

11,000 residents in retirement accommodation

304,000 energy / telecommunications accounts

55,000,000 vehicle refuellings

Financial Highlights

Year ended 31 March

2015

2014

Net Parent Surplus

68 cents per share up from 34 cents the prior year

$384m

$199m

Consolidated EBITDAF1

EBITDAF was $484 million including
Z Energy on a replacement cost basis and excluding RetireAustralia purchase costs. $439 million the prior year

$453m

$437m

Capital Expenditure

Including $219 million acquisition of 50% of RetireAustralia and $173 million invested in Australian renewable generation

$508m

$616m

Divestments

Sale of mature businesses to allow capital redeployment

$700m

$422m

Net Debt

Infratil and 100% subsidiaries

$761m

30% of capitalisation

$1,062m

46% of capitalisation

Capital Management

Special dividends of 15.0 and 6.4 cents

$120m

$0

Ordinary Dividends Declared

12.50cps

10.75cps

1. EBITDAF is a non-GAAP measure which shows the operating earnings contributions of investments and businesses owned as at 31 March 2015 before interest, tax, depreciation and amortisation and before making any adjustments for fair value movements, realisations and impairments. EBITDAF also excludes the contribution of businesses sold during the period which are included within discontinued operations. The $484 million noted above includes the Z Energy contribution on a replacement cost basis as the historic cost earnings of Z Energy can be volatile depending on oil price fluctuations (+$22.8 million adjustment, 2014: +$1.5 million adjustment) and excludes Infratil’s share of the costs associated with the acquisition of RetireAustralia which are considered one-off and non-operational in nature (+$7.8 million adjustment). EBITDAF is a useful non-GAAP financial measure which presents management’s view of the underlying business operating performance. A reconciliation of EBITDAF to net parent surplus is provided in the Consolidated Results table.

Directors

(From left)

Duncan Saville

Director

Anthony Muh

Alternate Director

Marko Bogoievski

Director. Chief Executive

Mark Tume

Chairman. Independent

Humphry Rolleston

Director. Independent

Alison Gerry

Director. Independent

Paul Gough

Director. Independent

Full Annual Report 2015
Full Annual Report 2015
Download PDF (5.3 MB)