investors.

  • 16.7% total securityholder return for FY2016
  • +9.2% increase in distributions to investors for FY2016

APA's Wallumbilla gas hub facility, Queensland

We will continue to be a reliable and attractive investment which delivers superior returns for securityholders by:

  • Achieving reliable and sustainable earnings growth by focusing on long-term revenue and reduced costs.
  • Maintaining a strong and robust balance sheet.
  • Identifying and evaluating additional attractive infrastructure style investments in related energy businesses.
  • Total securityholder return of 16.7% for FY2016.
  • Delivered investors a 9.2% increase in distributions.
  • Maintained investment grade credit ratings (BBB/Baa2).
  • Extended the term to maturity on its syndicated and bilateral bank facilities by between 12 and 24 month.
  • Entered into five new bilateral bank facilities for terms of between two and five years providing $350 million of committed debt funding, which replaced maturing US Private Placement notes.
  • Improved corporate costs as a proportion of business metrics, reducing the cost to EBITDA (continuing business) ratio to 6.1% in FY2016 (FY2015 8.2%).
  • $673.6 million of capital and investment expenditure.
  • Successfully completed 100% acquisition of Ethane Pipeline Income Fund and Diamantina and Leichhardt Power Stations
  • Progress or complete current growth capital projects underway.
  • Continue to evaluate and develop additional revenue streams in related energy infrastructure businesses.
  • Maintain investment grade credit rating levels.
  • Debt and equity - Ensuring continued support from debt and equity markets for ongoing capital requirements. Inability to secure new debt facilities at appropriate quantum and price may adversely affect APA's operations and/or financial position and performance.
  • APA's investment decisions are made and its balance sheet is utilised with a continuous focus on maintaining long term investment grade credit ratings.
  • A diverse portfolio of long-life assets underpinned by regulated and long term bilateral agreements, underscores APA's ability to service debt and sustain steady equity distributions.
  • Maintain diversified funding base and access to deep and liquid global debt capital and banking markets.
  • APA has a long term sustainable distribution policy having regard for the capital needs of the business and economic conditions. Distributions are fully covered by operating cash flow.
  • Financial results and other salient developments are communicated regularly to investors in a timely manner.

APA'S HISTORICAL ANNUAL DISTRIBUTIONS (CENTS PER SECURITY), HAS CONTINUED TO INCREASE

As at 30 June 2016, APA had over 81,000 securityholders holding 1.1 billion securities, with the top 20 investors holding 62.5% of securities. Currently, approximately 74% of APA's investors are based in Australian and/or New Zealand.