Annual Report - AWB Limited

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Balance sheets as at 30 September 2008 AWB LIMITEDConsolidatedAWB Limited2008 2007 2008 2007Notes $’000 $’000 $’000 $’000AssetsCash and cash equivalents 4 551,656 546,387 5,664 44,951Loans and advances 5 4,046,740 3,061,458 1,089,399 1,024,218Inventories 6 558,797 354,901 - -Derivative financial instruments 32 388,123 516,088 - -Investments 7 - - 144,918 113,405Available for sale financial assets 8 7,313 18,310 3,141 8,824Other assets 9 146,772 82,474 - 9Investments accounted for using the equity method 10 122,646 107,178 - -Property, plant and equipment 12 144,020 158,160 - -Intangible assets 11 538,238 550,477 305 313Deferred income tax assets 13 100,082 63,233 2,799 3,154Total assets 6,604,387 5,458,666 1,246,226 1,194,874LiabilitiesTrade and other payables 14 789,884 530,033 94,713 96,187Interest-bearing loans and borrowings 15 4,153,314 3,369,217 - -Income tax payable 59,107 33,412 15,224 15,586Provisions 16 67,984 47,948 675 627Derivative financial instruments 32 352,596 353,702 - -Other liabilities 17 324 2,106 - -Deferred income tax liabilities 18 5,449 10,301 2,448 2,490Total liabilities 5,428,658 4,346,719 113,060 114,890Net assets 1,175,729 1,111,947 1,133,166 1,079,984EquityContributed equity 19 983,540 969,743 983,540 969,743Reserves 20(a) 14,023 (358) 24,793 25,324Retained profits 20(b) 174,878 140,431 124,833 84,917Total parent entity interest 1,172,441 1,109,816 1,133,166 1,079,984Minority interest 21 3,288 2,131 - -Total equity 1,175,729 1,111,947 1,133,166 1,079,984www.awb.com.au 57
AWB LIMITED Statement of cash flows for the year ended 30 September 2008ConsolidatedAWB Limited2008 2007 2008 2007Notes $’000 $’000 $’000 $’000Cash flows from operating activitiesReceipts from customers 5,992,709 4,251,287 - -Payments to suppliers and employees (6,290,684) (4,368,186) (62,254) (77,902)Borrowing costs paid (305,359) (239,077) (604) (369)Dividends received 5,156 11,583 46,453 57,271Income tax refund received 3,066 20,693 - 20,508Income taxes paid (27,348) (22,135) (21,644) (23,396)Interest received 302,857 256,596 96,402 84,169Net cash flows from/(used in) operating activities 23 (319,603) (89,239) 58,353 60,281Cash flows from investing activitiesPayments for property, plant and equipment (22,169) (20,620) - -Payments for intangible assets (7,416) (10,008) - (148)Proceeds from sale of property, plant and equipment 8,639 2,909 - -Proceeds from sale of intangible assets 896 - - -Proceeds from sale of investments 6,560 3,165 3,592 1,415Payment for controlled entities (net of cash acquired) (3,332) (1,618) - (11,218)Purchases of investments and associates - (5,388) - -Net cash flows from/(used in) investing activities (16,822) (31,560) 3,592 (9,951)Cash flows from financing activitiesProceeds from issues of ordinary shares 13,797 - 13,797 -Proceeds from/(repayment of) borrowings from related party(AWB National Pools) 214,723 (46,418) - -Proceeds from/(repayment of) borrowings from wholly-owned group - - (87,299) (45,630)Proceeds from/(repayment of) borrowings 536,706 66,833 - -Proceeds from/(repayment of) interest bearing deposits 32,668 (64,967) - -Dividends paid (27,730) (27,706) (27,730) (27,706)Receipts - grower payment products 93,148 333,028 - -Payments - grower payment products (165,200) (3,106) - -Repayments of grower loans 459,921 575,610 - -Loans advanced to growers (606,704) (114,085) - -Repayment of customer loans 3,063,846 3,188,808 - -Loans advanced to customers (3,273,481) (3,287,725) - -Net cash flows from/(used in) financing activities 341,694 620,272 (101,232) (73,336)Net increase/(decrease) in cash held 5,269 499,473 (39,287) (23,006)Cash at the beginning of the financial year 546,387 46,914 44,951 67,957Cash at the end of the financial year 4 551,656 546,387 5,664 44,95158 www.awb.com.au
Page 7 and 8: 6 www.awb.com.auFrom Peter Polson,C
Page 9 and 10: From Gordon Davis,Managing Director
Page 11 and 12: AWB todayOur client base extends to
Page 13 and 14: Landmark Rural ServicesRural Servic
Page 15 and 16: Financial Services (EBITDA)2004 44.
Page 17 and 18: Commodity ManagementCommodity Manag
Page 19 and 20: CorporateCredit ratingsAWB maintain
Page 21 and 22: People and communityPeopleThe busin
Page 23 and 24: 22 www.awb.com.auManagement team
Page 25 and 26: 24 www.awb.com.au
Page 27 and 28: Governance at AWBAWB’s Board and
Page 29 and 30: process was conducted within the co
Page 31 and 32: Information is regularly communicat
Page 33 and 34: Recommendation 9.3 - Clearly distin
Page 35 and 36: AWB Limited BoardPeter Polson Non-e
Page 37 and 38: 36 www.awb.com.au
Page 39 and 40: AWB LIMITED Directors’ reportYour
Page 41 and 42: AWB LIMITED Directors’ reportDire
Page 43 and 44: AWB LIMITED Directors’ reportNon-
Page 45 and 46: AWB LIMITED Directors’ reportFixe
Page 47 and 48: AWB LIMITED Directors’ reportTabl
Page 49 and 50: AWB LIMITED Directors’ reportKMP
Page 51 and 52: AWB LIMITED Directors’ reportKey
Page 53 and 54: AWB LIMITED Directors’ reportTabl
Page 55 and 56: AWB LIMITED Directors’ reportGrou
Page 57: AWB LIMITED Income statements for t
Page 61 and 62: AWB LIMITED Statement of changes in
Page 63 and 64: AWB LIMITED Notes to and forming pa
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AWB LIMITED Notes to and forming pa
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120 www.awb.com.auAWB LIMITED Indep
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AWB LIMITED Australian Securities E
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AWB LIMITED Notes124 www.awb.com.au
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AWB Limited ABN 99 081 890 459380 L
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Annual Report - AWB Limited

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