highlights.

  • 33,478
    new network
    gas connections
  • 41
    .5 ¢
    FY2016 total
    distribution
    per security +9.2% on FY2015
  • $
    673
    .6 m
    total capital and
    investment
    expenditure
  • $
    1,656
    .0 m
    revenue excluding
    pass-through +48% on FY2015
  • $
    1,330
    .5 m
    EBITDA +61.8% on FY2015
  • $
    862
    .4 m
    operating cash flow +58.2% on FY2015
financial results 2016
Normalised1
$ million
2015
Normalised1
$ million
Change
Normalised1
%
2016
Statutory
$ million
2015
Statutory
$ million
Change
Statutory
%
Revenue 2,094.3 1,553.6 34.8 2,094.3 1,553.6 34.8
Revenue excluding pass-through2 1,656.0 1,119.2 48.0 1,656.0 1,119.2 48.0
EBITDA 1,330.5 822.3 61.8 1,330.5 1,269.5 4.8
Profit after tax 179.5 203.9 (12.0) 179.5 559.9 (67.9)
Operating cash flow6 862.4 545.0 58.2 862.4 562.2 53.4
Financial position            
Total assets 14,842.7 14,652.9 1.3 14,842.7 14,652.9 1.3
Total drawn debt3 9,037.3 8,642.8 4.6 9,037.3 8,642.8 4.6
Total equity 4,029.1 4,382.7 (8.1) 4,029.1 4,382.7 (8.1)
Financial ratios            
Operating cash flow per security4 (cents) 77.4 54.8 41.2 77.4 56.5 37.0
Earnings per security4 (cents) 16.1 20.5 (21.5) 16.1 56.3 (71.4)
Distribution per security (cents) 41.5 38.0 9.2 41.5 38.0 9.2
Distribution payout ratio (%) 53.6 68.8 (22.0) 53.6 66.6 (19.5)
Gearing5 (%) 66.4 63.4 nm 66.4 63.4 nm
Interest cover ratio (times) 2.6 2.6 nm 2.6 2.6 nm

normalised results

  • Normalised financial results exclude significant items.
  • Pass-through revenue is revenue on which no margin is earned. Pass-through revenue arises in the asset management operations in respect of costs incurred and passed on to Australian Gas Networks Limited ("AGN") and GDI in respect of the operation of the AGN and GDI assets respectively.
  • This amount represents current and non-current borrowings as per balance sheet and is adjusted for deferred borrowing costs, the effect of unwinding of discount,unrealised foreign exchange differences reported in equity and deducting other financial liabilities that are reported as part of borrowings in the balance sheet.
  • Between 23 December 2014 and 28 January 2015, APA issued a total of 278,556,562 new ordinary securities, resulting in total securities on issue of 1,114,307,369. The weighted average number of securities for FY2015 has been adjusted in accordance with the accounting principles of AASB133: 'Earnings per Share', for the rights issue.
  • Gearing = net debt divided by net debt plus equity.
  • Operating cash flow = net cash from operations after interest and tax payments.