Annual Report - AWB Limited

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Notes to and forming part of the financial statements for the year ended 30 September 2008 AWB LIMITED2. Revenues and ExpensesConsolidatedAWB Limited2008 2007 2008 2007$’000 $’000 $’000 $’000Profit from continuing operations before income tax expense includesthe following specific items:(a) RevenueSale of goodsCommodity sales 4,003,019 2,489,365 - -Merchandise and fertiliser 1,787,699 1,402,204 - -Other 229,969 167,416 - -Related party (AWB National Pools) 480,861 266,293 - -6,501,548 4,325,278 - -(b) Finance revenueInterest revenueFinancial institutions 46,584 36,155 - -Loans and advances - variable rate portfolio 216,431 186,611 847 1,828Loans and advances - fixed rate portfolio 36,313 30,945 - -Related party (AWB National Pools) 3,828 8,847 - -Wholly-owned group - - 95,555 82,341Total finance revenue 303,156 262,558 96,402 84,169(c) Finance costsInterest expenseFinancial institutions 265,772 185,267 599 323Interest rate swaps (11,284) 3,641 - -Notes - 272 - -Related party (AWB National Pools) 31,562 28,688 - -Total interest expense 286,050 217,868 599 323Other finance costs 18,203 20,901 5 46Total finance costs 304,253 238,769 604 369Net finance income (1,097) 23,789 95,798 83,800www.awb.com.au 67
AWB LIMITED Notes to and forming part of the financial statements for the year ended 30 September 2008ConsolidatedAWB Limited2008 2007 2008 2007$’000 $’000 $’000 $’0002. Revenues and Expenses (continued)(d) Other incomeFees and commissions incomeRelated party (AWB National Pools) 46,028 47,068 - -Net foreign exchange gain/(loss) (18,921) 1,735 1,293 (3,154)Underwriting fees 4,073 5,863 - -DividendsOther persons/corporations 275 793 190 424Related party - - 1,254 1,004Wholly-owned group - - 45,009 55,843275 793 46,453 57,271Profit/(loss) on sale of non-current assetsProperty, plant and equipment 2,528 (270) - (137)Joint venture - 1,750 - -Available for sale financial assets 6,561 1,415 3,592 1,4159,089 2,895 3,592 1,278Rental income 1,028 986 - -Fair value gain/(loss) on fixed rate loans (11,199) 4,157 - -Fair value gain/(loss) on derivative instruments measured at fair valuethrough profit or loss (16,938) 9,278 - -Other 26,560 11,479 3,005 1,008Total other income 39,995 84,254 54,343 56,403(e) Other expensesAmortisation 19,044 21,955 48 40Depreciation 18,426 20,088 - -Total amortisation and depreciation expenses 37,470 42,043 48 40Write down of assets/investments to recoverable amount 1,000 9,208 - 5,581Communication and information technology costs 43,111 35,738 - -Commission and sales related costs 10,519 7,056 - -Legal, professional and consultancy costs 58,690 21,235 - -Travel costs 13,720 13,544 31 53Motor vehicle costs 10,328 9,863 - -Advertising and promotion costs 9,085 4,662 - -Equipment and supplies costs 3,835 3,132 - -Operating lease rental expense 43,533 42,731 - -Employee benefits expenses 222,028 215,611 2,782 3,746Superannuation expenses 15,036 14,495 408 537Share-based payment and employee share issue expenses 3,390 3,657 1,727 2,438Service agreement fees - - 65,445 76,114471,745 422,975 70,441 88,50968 www.awb.com.au
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6 www.awb.com.auFrom Peter Polson,C
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From Gordon Davis,Managing Director
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AWB todayOur client base extends to
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Landmark Rural ServicesRural Servic
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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
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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
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Page 39 and 40: AWB LIMITED Directors’ reportYour
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Page 49 and 50: AWB LIMITED Directors’ reportKMP
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Page 57 and 58: AWB LIMITED Income statements for t
Page 59 and 60: AWB LIMITED Statement of cash flows
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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