Australia Yearbook - 2001

Chapter 15—Agriculture 623
15.9 FARM BUSINESSES, By Size of Turnover
Number of farm businesses
1995–96 1996–97 1997–98 1998–99p 1995–96 1996–97
Total turnover
1997–98 1998–99
Size of turnover
’000 ’000 ’000 ’000 $m $m $m $m
Less than $50 000 22.7 20.4 22.5 20.0 613.6 618.6 620.9 607.2
$50 000 to $99 999 20.0 21.4 20.2 18.7 1 560.1 1 609.0 1 562.6 1 440.5
$100 000 to $149 999 15.9 13.8 13.3 15.0 1 991.0 1 787.3 1 666.2 1 887.2
$150 000 to $199 999 11.1 12.0 11.6 11.2 1 957.3 2 170.9 2 064.9 1 993.9
$200 000 to $249 999 9.2 9.7 6.7 8.0 2 053.5 2 184.8 1 514.8 1 830.6
$250 000 to $299 999 6.1 6.0 5.0 5.3 1 629.2 1 699.8 1 398.2 1 470.9
$300 000 and over 23.6 22.9 25.0 24.2 16 920.2 17 051.9 18 472.5 18 376.4
Total 108.4 106.1 104.3 102.5 26 724.9 27 122.3 27 300.1 27 606.6
Source: Agricultural Industries, Financial Statistics, Australia (7507.0); Agriculture, Australia (7113.0).
15.10 AUSTRALIAN FARM BUSINESSES, Profit Margins(a)
%
25
15
1993–94 1994–95 1995–96 1996–97 1997–98 1998–99
(a) Profit margin is derived before allowing for any drawings taken by directors of
unincorporated businesses.
Source: Agricultural Industries, Financial Statistics, Australia (7507.0); Agriculture,
Australia (7113.0).
23
21
19
17
Gross indebtedness
Australian farm businesses owed a total of $24.3b
at 30 June 1999 (table 15.11), a 12% increase on
1997–98. The aggregate debt has risen steadily
from $11.5b in 1986–87 when the current series
of surveys began. The average gross indebtedness
at 30 June 1999 was $237,000 per farm business.
About 30% of farm businesses owed more than
$200,000. On the other hand, 24% of farm
businesses were debt free at 30 June 1999.
The total interest bill for Australian farm
businesses, at $1.6b, was 3% higher than in
1997–98.
15.11 AUSTRALIAN FARM BUSINESSES,
Aggregate and Average Gross Indebtedness
Gross indebtedness
Average per farm
Aggregate
business
30 June
$m
$
1994 15 921.7 148 057
1995 18 267.7 170 266
1996 19 592.7 180 723
1997 20 464.2 192 815
1998 21 630.8 207 456
1999 24 295.4 237 012
Source: Agricultural Industries, Financial Statistics, Australia
(7507.0); Agriculture, Australia (7113.0).
Graph 15.12 shows that the average debt to asset
ratio for agricultural businesses has been trending
down slowly. Graph 15.13 shows a decrease in
the average interest coverage of agricultural
businesses, from 4.8 times in 1997–98 to 4.4 times
in 1998–99, reflecting the impact of a 9% decrease
in cash operating surplus and a 3% rise in interest
paid.