Australia Post Annual Report 2008–09

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Notes to and forming part of the Financial Report for the year ended 30 June 2009 11 Investments in jointly controlled entities Carrying amounts of investments Balance at the beginning of the financial year Share of profits for the year Actuarial loss on defined benefit plans Share of hedging reserve Dividends received/receivable 78 Australia Post Annual Report 2008–09 | Financial and statutory reports 2009 $m Consolidated Corporation Balance at the end of the financial year 298.3 309.7 263.6 263.6 Name Principal activity 309.7 10.8 (6.8) (0.3) (15.1) Country of incorporation 2008 $m 308.7 22.3 0.0 0.3 (21.6) Balance date 2009 $m 263.6 0.0 0.0 0.0 0.0 2009 % 2008 $m 263.6 0.0 0.0 0.0 0.0 Ownership interest Australian air Express Pty Ltd – ordinary shares Express air freight Australia 30 June 50.0 50.0 iPrint Corporate Pty Ltd – ordinary shares Printing services Australia 30 June 50.0 50.0 Star Track Express Holdings Pty Ltd – ordinary shares Express freight Australia 30 June 50.0 50.0 Sai Cheng Logistics International Company Limited – ordinary shares (1) 2008 % International 4PL logistics services China 31 Dec 49.0 49.0 Multi Media Logistics Pty Ltd – ordinary shares (2) Logistics services Australia 30 June 50.0 50.0 Wetherill Park Partnership Warehousing facilities Australia 30 June 50.0 50.0 (1) This investment is held by the corporation’s 100% owned subsidiary AP International Holdings Pty Ltd. (2) This investment is held by the corporation’s 100% owned subsidiary Post Logistics Australasia Pty Ltd.
11 Investments in jointly controlled entities (continued) Share of jointly controlled entities’ profits Revenues Expenses Net profits before income tax Income tax expense 2009 $m 635.2 (622.9) 12.3 (1.5) Consolidated 2008 $m 657.5 (626.4) 31.1 (8.8) Net profits after income tax 10.8 22.3 Share of assets and liabilities Current assets Non-current assets Total assets 524.7 547.1 Current liabilities Non-current liabilities 83.0 441.7 (65.6) (160.8) 93.1 454.0 (77.4) (160.0) Total liabilities (226.4) (237.4) Net assets Retained profits of the consolidated entity attributable to jointly controlled entities 298.3 309.7 Balance at the beginning of the financial year 42.5 41.8 Share of profits for the year 10.8 22.3 Actuarial loss (6.8) 0.0 Dividends received/receivable (15.1) (21.6) Balance at the end of the financial year 31.4 42.5 The group’s investments in the above-mentioned jointly controlled entities were not impaired during the year (2008: $nil). The consolidated entity’s share of the jointly controlled entities’ net commitment payable is $370.3 million (2008: $388.0 million) and is included in the Schedule of Commitments. The consolidated entity’s share of the jointly controlled entities’ contingent liabilities is $34.5 million (2008: $34.5 million) and is included in the Schedule of Contingencies. Australia Post Annual Report 2008–09 | Financial and statutory reports 79
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1809 2009 Australia Post Annual Rep
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Over the past 200 years, Australian
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Our business Celebrating 200 years
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For 200 years, we have developed ou
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We handled 5.3 billion items of mai
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Our business Managing Director’s
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Mail volumes m 6,000 5,000 4,000 3,
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Our business Performance against ta
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Core businesses Australia’s posta
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Core businesses Letters & associate
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Collaborative solutions across the
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Rewarding customer loyalty Australi
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Core businesses Agency services & r
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1968 Behind the front counter of th
Page 29 and 30: Sending home comforts to the world
Page 31 and 32: Core businesses Parcels & logistics
Page 33 and 34: 1936 Transporting mail from the SS
Page 35 and 36: Expanding Business, Naturally When
Page 37 and 38: Corporate responsibility From a wor
Page 39 and 40: Corporate responsibility Highlights
Page 41 and 42: Employment by occupation % Administ
Page 43 and 44: 1950s A postie delivering mail in s
Page 45 and 46: Human Resources Committee Incorpora
Page 47 and 48: Treasury A comprehensive and pruden
Page 49 and 50: Mark Darras LLM, BA LLB, BEd Direct
Page 51 and 52: Contents - Financial and statutory
Page 53 and 54: Statements by directors for the yea
Page 55 and 56: Australia Post Annual Report 2008-0
Page 57 and 58: Balance sheet as at 30 June 2009 No
Page 59 and 60: Cashflow statement for the year end
Page 61 and 62: Schedule of contingencies as at 30
Page 63 and 64: Reference Title Nature of change to
Page 65 and 66: Where settlement of any part of the
Page 67 and 68: (iii) Translation of group companie
Page 69 and 70: (ii) Held-to-maturity investments N
Page 71 and 72: is increased to its recoverable amo
Page 73 and 74: 2 Revenues and other income Revenue
Page 75 and 76: 4 Finance costs Bonds (1) Interest
Page 77 and 78: 5 Income tax (continued) (e) Unreco
Page 79: 9 Non-current assets - trade and ot
Page 83 and 84: 12 Superannuation (continued) (v) C
Page 85 and 86: 13 Analysis of property, plant & eq
Page 87 and 88: 15 Investment properties Opening ba
Page 89 and 90: 20 Provisions Current provisions An
Page 91 and 92: 22 Analysis of total equity (contin
Page 93 and 94: 24 Dividends paid Final ordinary di
Page 95 and 96: 26 Segment information (continued)
Page 97 and 98: 27 Key management personnel remuner
Page 99 and 100: 27 Key Management personnel remuner
Page 101 and 102: 28 Related parties (continued) Tran
Page 103 and 104: 29 Financial and capital risk manag
Page 111 and 112: 32 Corporate information The financ
Page 113 and 114: Auditor-General’s report - perfor
Page 115 and 116: Domestic letter service monitor for
Page 117 and 118: Survey certification for the year e
Page 119 and 120: Reserved/non-reserved services for
Page 121 and 122: Australian Postal Corporation Act 1
Page 123 and 124: Statutory reporting requirements fo
Page 125 and 126: Consultative arrangements The Stake
Page 127 and 128: Australia Post - the statistics for
Page 129 and 130: 5 Mail delivery network Private hou
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9 Overall letter service performanc
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Index Australia Post Annual Report
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I (continued) interest 11, 57 inter
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Contact details Australia Post Head
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Stamp gallery 2008-09 Australia Pos
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AAT: International Polar Year 2007-
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Australia Post Annual Report 2008–09

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