FIVE-YEAR FINANCIAL SUMMARY
2017
2016
2015
2014
2013
Statement of Comprehensive Income
$’000
$’000
$’000
$’000
$’000
Service revenue
886,081
907,953
844,346
916,868
700,836
Other revenue
98,642
111,064
88,142
71,991
61,955
Total revenue
984,723
1,019,017
932,488
988,859
762,791
Operating and other expenses
676,265
715,774
643,780
716,520
512,181
Depreciation and amortisation
96,872
97,490
94,294
86,009
75,632
Finance costs
127,440
123,942
121,373
120,368
108,349
Total expenses
900,577
937,206
859,447
922,897
696,162
Profit before income tax
84,146
81,811
73,041
65,962
66,629
Income tax
(25,816)
(25,242)
(22,249)
(20,363)
(20,248)
Net profit after tax
58,330
56,569
50,792
45,599
46,381
2017
2016
2015
2014
2013
Statement of Financial Position
$’000
$’000
$’000
$’000
$’000
Current assets
184,292
188,616
170,982
181,733
138,015
Non-current assets
4,546,209
4,350,521
4,182,941
4,141,830
3,873,914
Total assets
4,730,501
4,539,137
4,353,923
4,323,563
4,011,929
Current liabilities
421,636
369,343
371,562
392,565
307,624
Non-current liabilities
2,684,705
2,613,979
2,463,189
2,395,242
2,301,388
Total liabilities
3,106,341
2,983,322
2,834,751
2,787,807
2,609,012
Net assets
1,624,160
1,555,815
1,519,172
1,535,756
1,402,917
YARRA VALLEY WATER ANNUAL REPORT 2016-17
21

 

2016-17 HIGHLIGHTS
CONTINUED
RETURN ON EQUITY (%)
RETURN ON AVERAGE ASSETS (%)
5
5
4
4
3
3
2
2
1
1
0
0
08/09
09/10
10/11
11/12
12/13
13/14
14/15
15/16
16/17
08/09
09/10
10/11
11/12
12/13
13/14
14/15
15/16
16/17
Return on equity in 2016-17 is in line with 2015-16 result.
Return on average assets in 2016-17 has decreased
slightly from 2015-16 due to the growth in assets
exceeding the growth in earnings before interest tax.
GEARING RATIO (%)
INTEREST BEARING DEBT TO ASSETS
NET PROFIT AFTER TAX ($M)
60
70
50
60
50
40
40
30
30
20
20
10
10
0
0
08/09
09/10
10/11
11/12
12/13
13/14
14/15
15/16
16/17
08/09
09/10
10/11
11/12
12/13
13/14
14/15
15/16
16/17
Gearing ratio is in line with 2015-16 result.
The 2016-17 profit performance has increased
compared with 2015-16 primarily as a result of higher
revenues from service charges and net water sales.
INTEREST COVER TIMES
CAPITAL EXPENDITURE ($M)
2.5
300
250
2.0
200
1.5
150
1.0
100
0.5
50
0
0
08/09
09/10
10/11
11/12
12/13
13/14
14/15
15/16
16/17
08/09
09/10
10/11
11/12
12/13
13/14
14/15
15/16
16/17
Interest cover has increased in 2016-17 primarily due to
Capital expenditure in 2016-17 has decreased compared with
higher net operating cash flows from additional receipts
2015-16 as a result of Amaroo Main Sewer infrastructure
from customers, lower payments for wholesale changes,
work being undertaken in 2015-16. We continue to focus on
the timing of other operational payments and savings in
the achievement of efficient outcomes through innovative
interest payments due to lower borrowings and interest
design and delivery of our capital expenditure program.
rates experienced in the market.
22
YARRA VALLEY WATER ANNUAL REPORT 2016-17