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SECTION 5 FINANCIAL INFORMATION NET REVENUE BY BUSINESS GROUP Year ended 31 December ($000) 2001A 2002A 2003A $:US$ exchange rate 0.5176 0.5440 0.6529 Revenue – Real Estate 42,935 34,131 70,994 – Infrastructure and Project Finance 59,626 92,186 93,283 – Operating Leasing 114,435 110,461 88,142 – Structured Finance 239,630 208,375 137,761 – Corporate Principal Investment and Funds Management (1,390) 16,508 42,747 Net Revenue 455,236 461,661 432,927 Other revenue (1,762) 796 1,188 5.3.1.2 Pro-forma statement of cash flows Consistent with the reporting level used for the pro-forma historical statement of financial performance, the pro-forma historical statement of cash flows excludes the impact of historical bonuses and tax payments as this information is not considered meaningful.The pro-forma statement of cash flows below is presented in summary format and assumes that the following transactions have taken place: • The payment of dividends and distributions to the pre-IPO owners as part of the Restructure amounting to approximately $128 million • The raising of approximately $18 million from existing Executive Stakeholders immediately prior to the IPO • The raising of $550 million of new capital as part of the IPO • The repayment of debt amounting to approximately $120 million from the proceeds of the IPO and $20 million from existing cash resources • Transaction costs associated with the IPO and capital raising estimated at $27 million A detailed pro-forma statement of cash flows is presented as part of the pro-forma financial statements in Appendix A. 112
BABCOCK & BROWN PROSPECTUS Year ended 31 December ($000) 2002A 2003A Cash flows from operating activities Fees received 411,790 323,354 Rental income received 72,355 100,250 Payments to vendors and employees (268,185) (252,656) Other net operating cash flows 18,564 (9,750) Net cash flows from/(used in) operating activities 234,524 161,198 Cash flows from investing activities Proceeds from sale of transportation equipment 985,707 739,762 Proceeds from sale of real estate 45,250 108,328 Proceeds from sale of subsidiaries and affiliates 26,317 143,094 Purchase of transportation equipment (1,256,473) (789,673) Purchase of real estate (95,271) (17,898) Purchase of investment in associates (28,941) (178,757) Purchase of property, plant and equipment (1,526) (6,979) Payments received on notes receivable 150,160 115,410 Notes receivable funding) (157,126) (74,459) Assets under development) (41,525) (40,571) Dividends and distributions received from associates 35,633 23,245 Net proceeds from other investing activities 35,287 22,904 Net cash flows from/(used in) investing activities (302,508) 44,406 Cash flows from financing activities Net movement in borrowings 474,963 (141,919) Proceeds from issuance of ordinary capital 29,118 628,849 Capital redemption payments (20,678) (36,969) Distributions paid to equity holders (245,523) (405,351) Net movement in outside equity interests (8,343) (32,219) Net cash flows from/(used in) financing activities 229,537 12,391 Net increase/(decrease) in cash held 161,553 217,995 113
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Lead Manager
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BABCOCK & BROWN PROSPECTUS TABLE OF
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BABCOCK & BROWN PROSPECTUS KEY OFFE
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BABCOCK & BROWN PROSPECTUS 5
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SECTION 1 SUMMARY OF KEY INFORMATIO
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BABCOCK & BROWN PROSPECTUS 2.2 PURP
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BABCOCK & BROWN PROSPECTUS 2.5 OWNE
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BABCOCK & BROWN PROSPECTUS 2.8 FOUN
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BABCOCK & BROWN PROSPECTUS 2.11 ASX
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SECTION 3 BUSINESS OVERVIEW 3 BUSIN
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SECTION 3 BUSINESS OVERVIEW Babcock
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SECTION 3 BUSINESS OVERVIEW Babcock
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SECTION 3 BUSINESS OVERVIEW Financi
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SECTION 3 BUSINESS OVERVIEW Backgro
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SECTION 3 BUSINESS OVERVIEW Princip
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SECTION 3 BUSINESS OVERVIEW Europea
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SECTION 3 BUSINESS OVERVIEW Acceler
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SECTION 3 BUSINESS OVERVIEW • New
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SECTION 3 BUSINESS OVERVIEW In 1996
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SECTION 3 BUSINESS OVERVIEW Case st
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SECTION 3 BUSINESS OVERVIEW Power t
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SECTION 3 BUSINESS OVERVIEW Selecte
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BABCOCK & BROWN PROSPECTUS Term Def
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BABCOCK & BROWN PROSPECTUS Term GST
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APPENDIX A PRO-FORMA CONSOLIDATED F
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BABCOCK & BROWN PROSPECTUS AGAAP CO
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BABCOCK & BROWN PROSPECTUS AUSTRALI
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BABCOCK & BROWN PROSPECTUS 1. SUMMA
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BABCOCK & BROWN PROSPECTUS Deprecia
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BABCOCK & BROWN PROSPECTUS Any leas
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BABCOCK & BROWN PROSPECTUS 2. CONSO
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BABCOCK & BROWN PROSPECTUS 3. PRO-F
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BABCOCK & BROWN PROSPECTUS AGAAP re
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BABCOCK & BROWN PROSPECTUS 6. RECON
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BABCOCK & BROWN PROSPECTUS 7. REVEN
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BABCOCK & BROWN PROSPECTUS 9. GAINS
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BABCOCK & BROWN PROSPECTUS 14. INVE
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BABCOCK & BROWN PROSPECTUS For enti
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BABCOCK & BROWN PROSPECTUS 19. PROP
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BABCOCK & BROWN PROSPECTUS Margin L
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BABCOCK & BROWN PROSPECTUS 33. RELA
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BABCOCK & BROWN PROSPECTUS 39. FINA
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BABCOCK & BROWN PROSPECTUS CORPORAT
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