2011 Annual Review - Qantas

FINANCIAL PERFORMANCE
The Qantas Group
Financial Performance
In 2010/2011 the Qantas Group reported
a strong result despite a number
of significant challenges, with all
segments of the Group profitable.
Underlying PBT was $552 million, up
46 per cent on 2009/2010. The result was
achieved through improvements in
earnings across all operating segments
and despite the $224 million financial
impact of natural disasters and over
$200 million of ongoing losses in Qantas’
international business.
Both Jetstar and Qantas Frequent Flyer
recorded record profits and there were
improved results for Qantas and Qantas
Freight. At a Group level, revenue was up
8 per cent to $14.9 billion.
Operating cash flow was $1.8 billion,
a 32 per cent increase, and cash held
was $3.5 billion. Statutory profit after tax
grew 115 per cent to $249 million.
A comprehensive review of Qantas
International has developed a new
strategy to restore the business to
competitiveness and profitability based
on the following strategic priorities:
——
Opening gateways to the world
——
Growing with Asia
——
Being best for global travellers
——
Building a strong, viable business
The QFuture business change program
remains on track with $470 million of
benefits achieved in 2010/2011, following
$533 million of benefits achieved in
2009/2010.
With a balanced portfolio of business
and investments, the Qantas Group
remains well-positioned to capitalise
on growth opportunities and continue
to improve the network, product and
service it offers customers.
$552m
Underlying PBT
$14.9bn
Revenue
$1.8bn
Operating Cash Flow
$3.5bn
Cash Held