Annual Report 2013 - Mainfreight

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Financial Contents 65 Income Statement 66 Balance Sheet 68 Statement of Changes of Equity 70 Cash Flow Statement 71 Notes to Financial Statements 113 Auditor’s Report 115 Statutory Information 118 Interests Register 119 Five Year Review 120 Glossary of Terms Kenny Kobos, Mainfreight Los Angeles 64 Mainfreight | Annual Report 2013
Income Statement for the Year Ended 31 March 2013 Note 2013 $000 Group 2012 $000 2013 $000 Parent 2012 $000 Operating Revenue 1,884,746 1,811,972 244,296 225,585 Interest Income 926 1,596 187 240 Dividends Received – – 33,908 23,859 Total Revenue 1,885,672 1,813,568 278,391 249,684 Transport Costs (1,196,600) (1,145,565) (135,319) (126,458) Labour Expenses Excluding Share Based Payments (391,353) (373,141) (52,740) (48,182) Occupancy Expenses and Rental Recharge (45,501) (44,683) 4,361 4,439 Depreciation and Amortisation Expenses 6 (30,433) (32,073) (9,572) (8,652) Other Expenses (113,838) (110,393) (19,703) (13,385) Finance Costs (9,683) (12,964) (4,580) (4,570) Derivative Fair Value Movement 6 – (201) – – Non-cash Share Based Payment Expense 25 – (406) – (406) Profit Before Abnormal Items and Taxation for the Year 98,264 94,142 60,838 52,470 Income Tax on Profit Before Abnormal Items (30,285) (28,393) (7,738) (8,108) Net Profit Before Abnormal Items for the Year 67,979 65,749 53,100 44,362 Abnormal Items 30 (3,324) 13,267 9,628 6,787 Income Tax on Abnormal Items 30 1,256 1,434 (2,696) (1,900) Abnormal Items After Taxation (2,068) 14,701 6,932 4,887 Profit Before Taxation for the Year 94,940 107,409 70,466 59,257 Income Tax Expense 7 (29,029) (26,959) (10,434) (10,008) Net Profit for the Year 65,911 80,450 60,032 49,249 Earnings per share for profit attributable to the ordinary equity holders of the company are: Cents Cents Basic Earnings Per Share: Total Operations 9 66.56 81.36 Diluted Earnings Per Share: Total Operations 9 66.45 81.24 Statement of Comprehensive Income for the Year Ended 31 March 2013 2013 $000 Group 2012 $000 2013 $000 Parent 2012 $000 Net Profit for the Year 65,911 80,450 60,032 49,249 Other Comprehensive Income Exchange Differences on Translation of Foreign Operations (3,550) (9,034) – – Income Tax Relating to Exchange Differences on Translation of (1,916) (3,318) – – Foreign Operations Revaluation of Land 5,916 (3,723) 2,360 (3,770) Income Tax Relating to Revaluation of Land (999) (12) – – Other Comprehensive Income for the Year, Net of Tax (549) (16,087) 2,360 (3,770) Total Comprehensive Income for the Year, Net of Tax 65,362 64,363 62,392 45,479 The accompanying notes form an integral part of these financial statements. Financial Statements 65
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Mainfreight Annual Report 2013 Recr
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The Mainfreight business has become
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Facts & Figures Our operations are
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Wherever we are in the world, all o
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on any given day We're tackling our
Page 12 and 13: Group Managing Director's report As
Page 14 and 15: Continued investment in facilities
Page 16 and 17: once again working to provide Austr
Page 18 and 19: We continue to work hard to further
Page 20 and 21: We have increased our trans-border
Page 22 and 23: Margin levels have been impacted as
Page 24 and 25: Laurie McMahon, Mainfreight Christc
Page 26 and 27: Environment Mainfreight has always
Page 28 and 29: Our people We have no widgets or ga
Page 30 and 31: 28 Mainfreight | Annual Report 2013
Page 32 and 33: Kelvin Teasdale, Lee Tuhura, Chris
Page 34 and 35: Wim Bosman Genk Steven Bleys, Rosol
Page 36 and 37: on any given day Behind the scenes
Page 38 and 39: Marcel ter Heerdt, Driver in Domest
Page 40 and 41: on any given day Mainfreight has he
Page 42 and 43: Executive Team Carl George National
Page 44 and 45: Executive Team continued Carl Howar
Page 46 and 47: Targets & Achievements Recent Curre
Page 48 and 49: Capital Expenditure This year’s f
Page 50 and 51: Corporate Governance THE ROLE OF TH
Page 52 and 53: on any given day Wherever we are in
Page 54 and 55: on any given day Whatever we do, wh
Page 56 and 57: Board of directors Emmet Hobbs Inde
Page 58 and 59: 60 As we drive ourselves hard in th
Page 60 and 61: Operating Statistics How we measure
Page 64 and 65: Balance Sheet as at 31 March 2013 N
Page 66 and 67: Statement of Changes in Equity for
Page 68 and 69: Cash Flow Statement for the Year En
Page 70 and 71: 2 Summary of Significant Accounting
Page 82 and 83: 3 Financial Risk Management Objecti
Page 84 and 85: 3 Financial Risk Management Objecti
Page 86 and 87: 5 Segmental Reporting The Group ope
Page 88 and 89: 6 Expenses and Other Income The Pro
Page 90 and 91: 7 Income Tax (continued) Recognised
Page 92 and 93: 9 Earnings Per Share The following
Page 94 and 95: 13 Investment in Subsidiary Compani
Page 96 and 97: 14 Non-current Assets - Property, P
Page 98 and 99: 15 Non-current Assets - Intangible
Page 100 and 101: 15 Non-current Assets - Intangible
Page 102 and 103: 20 Leases At balance date the Group
Page 104 and 105: 21 Contributed Equity (continued) C
Page 106 and 107: 23 Related Parties (continued) Tran
Page 108 and 109: 25 Share-based Payment Plans (conti
Page 110 and 111: 30 Abnormal Items During the year t
Page 112 and 113:
of Directors’ financial Responsib
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Donations and Auditors’ Fees Dona
Page 116 and 117:
Interests Register The following en
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Glossary Air & Ocean C&F EBIT EBITA
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