Beruflich Dokumente
Kultur Dokumente
COMPANY PROFILE
Sigma Pharmaceuticals
Limited
TABLE OF CONTENTS
Company Overview
COMPANY OVERVIEW
Sigma Pharmaceuticals Limited (Sigma or ‘the company’) is an Australian wholesaler and distributor of
pharmaceutical products. It offers a portfolio of services across the healthcare sector including retail
pharmacy services, hospital pharmacy services, and supply and logistics services. It manages exclusive
label products, over the counter products and other private label brands. The company provides services
such as professional services program, financial services , pharmacy operations, tools and resources,
rewards program and store performance analysis support. It also provides distribution, dose
administration aid solutions and supply network and logistics. The company offers brands such as Amcal,
Amcal+, Guardian, Discount Drug Stores, PharmaSave, Chemist King, Boots Laboratories and Skin
Theory. The company is headquartered in Rowville, Victoria.
The company reported revenues of (Australian Dollars) AUD4,212.9 million for the fiscal year ended
January 2018 (FY2018), a decrease of 5.2% over FY2017. In FY2018, the company’s operating margin
was 2%, compared to an operating margin of 1.8% in FY2017. In FY2018, the company recorded a net
margin of 1.3%, compared to a net margin of 1.2% in FY2017.
Key Facts
KEY FACTS
Tickers
TICKERS
SIP
Business Description
BUSINESS DESCRIPTION
Sigma Pharmaceuticals Limited (Sigma or ‘the company’) is engaged in wholesale and distribution of
pharmaceutical products in Australia. The company is the owner of a pharmacy-led network, with over
600 members representing the brands Amcal, Guardian, PharmaSave, Chemist King and Discount
Drugstores (DDS).
Sigma operates Discount Drug Stores, PharmaSave, branded and independent stores about 1,200,
Chemist King and Amcal+ stores, a range of over-the-counter (OTC) private and exclusive label products
made available to brand member customers, as well as a generic range of private label products under
the Pharmacy Care range. In addition, the company, through its subsidiary Central Healthcare Services
(CHS), has presence in the hospital pharmaceutical distribution market. The company primarily operates
in Australia.
Sigma provides dietary and weight loss products, inhalers and gum, respiratory aids, medicines and
healthcare products, thermometers and blood pressure monitors, blood glucose monitors, antiseptics,
dressings, sexual health products, wound care products, oils and omegas supplements, skin care and
beauty products, wash and contact lens care, hair treatment products, foot care products, health and
wellbeing products, mother and baby products, digestive bowel and urinary supplements, balls and
swabs, cotton buds and eye care products.
The company’s Pharmacy Care offers skincare, baby products, non-contact thermometers, health and
baby products, pain relief and other vitamins totalling 300 products. The company offers diabetes
services, coeliac disease risk assessment program, kidney check program, branded pharmacy network
and partner groups and the company’ LEAPP program provides customer engagement, professional
services, analytics, physical design, and leadership
The company has a measuring unit , SIGNAL is a platform that checks third party logistics services,
loyalty programmes, financial services, store performance and other services and products.
Sigma operates product lines about 15,000; pharmacies about 4,000; distribution centres about 15 across
Australia.
History
HISTORY
Contracts/Agreements
Year: 2018
In February, the company partnered with Medibank to provide pharmacy products and services.
Contracts/Agreements
Year: 2016
In November, Sigma Pharmaceuticals announced partnership with the Fred IT Group for development of
next generation retail platform supporting 700 pharmacies across Australia.
Contracts/Agreements
Year: 2016
Contracts/Agreements
Year: 2016
Sigma finalized a new long term supply contract with the My Chemist / Chemist Warehouse Group.
New Products/Services
Year: 2016
The company officially launched Amcal+, Amcal brand’s new premium retail offer to members.
Corporate Changes/Expansions
Year: 2016
Sigma, under a partnership with China-based company, Azoya Group, entered the Chinese market with
the launch of Amcal China website.
Contracts/Agreements
Year: 2016
Sigma formed an IT partnership with the Fred IT Group, a provider of pharmacy IT solutions in Australia,
to deliver its (Sigma’s) next generation retail platform that would support over 700 pharmacies across
Australia.
Acquisitions/Mergers/Takeovers
Year: 2014
The company acquired 100% of the share capital of Central Healthcare, an Australia-based wholesaler
and distributor of pharmaceutical products to hospitals and retail pharmacies.
Acquisitions/Mergers/Takeovers
Year: 2014
Sigma, through its subsidiary Central Healthcare Services, acquired Discount Drug Stores (DDS) for
$26.7 million.
Contracts/Agreements
Year: 2014
Pharmacy Alliance extended the wholesale supply and service agreement with Sigma for 10 years.
Acquisitions/Mergers/Takeovers
Year: 2014
Contracts/Agreements
Year: 2013
Sigma entered into a memorandum of understanding (MoU) with Pharmacy Alliance to open at least 30
new Amcal stores.
Divestiture
Year: 2011
The company sold off its pharmaceuticals segment (comprised of the generics, consumer, ethical
products, medical products, orphan and manufacturing businesses) to Aspen Pharmacare Holdings for
Acquisitions/Mergers/Takeovers
Year: 2009
Sigma completed the acquisition of an established pharmaceutical brand portfolio and manufacturing
facility from Bristol-Myers Squibb (BMS).
Acquisitions/Mergers/Takeovers
Year: 2008
The company acquired Orphan Holdings, a privately-owned specialty pharmaceutical company based in
Melbourne focusing on licensing, marketing and distribution of novel, highly specialized therapeutics from
international pharmaceutical and biotech companies for sale in Australia and New Zealand.
Corporate Changes/Expansions
Year: 2007
Acquisitions/Mergers/Takeovers
Year: 2005
Sigma Company and Arrow Pharmaceuticals merged and were renamed as Sigma Pharmaceuticals.
Acquisitions/Mergers/Takeovers
Year: 2003
Stock Listings/IPO
Year: 2002
Arrow Pharmaceuticals made its initial public offering (IPO) on the ASX.
Acquisitions/Mergers/Takeovers
Year: 1999
Stock Listings/IPO
Year: 1999
The company moved to full Australian Stock Exchange (ASX) listing and incorporated its subsidiary,
Arrow Pharmaceuticals.
Acquisitions/Mergers/Takeovers
Year: 1998
Stock Listings/IPO
Year: 1997
Acquisitions/Mergers/Takeovers
Year: 1997
Acquisitions/Mergers/Takeovers
Year: 1996
Commercial Operation
Year: 1942
Incorporation/Establishment
Year: 1912
Sigma Pharmaceuticals Limited (Sigma or ‘the company’) was established as Sigma Company.
Key Employees
KEY EMPLOYEES
Iona MacPherson
Board:Senior Management
Job Title:Chief Financial Officer
Since:2016
Ms MacPherson is the Chief Financial Officer at the company. Ms MacPherson previously served as
Chief Financial Officer and Company Secretarial at UXC Limited; Boom Logistics Limited and at
Australian Air Express.
Brian Jamieson
Board:Executive Board
Job Title:Chairman
Since:2010
Mr Jamieson is the Chairman at the company. Mr Jamieson previously served as Director at the company
and at Sigma Company Limited; Chairman at Mesoblast Limited; Director at Oz Minerals Limited, the
Bionic Ear Institute and Tatts Group Limited.
Mark Hooper
Board:Executive Board
Job Title:Chief Executive Officer, Managing Director
Since:2010
Mr. Hooper is the Chief Executive Officer and the Managing Director at the company Mr. Hooper
previously served as Chief Financial Officer at the Symbion Health Limited, PaperlinX Limited as well as
at the company
Services:
Brands:
Amcal
Amcal+
Guardian
Discount Drug Stores
PharmaSave
Chemist King
Boots Laboratories
Skin Theory
SWOT Analysis
SWOT ANALYSIS
Sigma Pharmaceuticals Limited (Sigma or ‘the company’) is a wholesaler and distributor of
pharmaceutical products. Owning strong pharmacy retail brands in Australia, and Improving profitability
are the major strengths of the company, even as reliance on Australian market could be cause for
concern. focus on product development, inorganic growth strategy, and positive outlook for the global
pharmaceutical industry could present ample growth opportunities to the company. However, competition
pressures, evolution of the healthcare industry and regulatory reforms could affect Sigma’s business,
operating results and financial condition.
Strength Weakness
Owning strong pharmacy retail brands in Australia Reliance on Australian market increasing
Improving profitability concentration risk
Opportunity Threat
Strength
Sigma has strong pharmacy retail brands in Australia. The company owns a pharmacy-led network with
over 1,200 branded and independent pharmacies, and with more than 600 retail members representing
the brands Amcal, Guardian, PharmaSave, Chemist King and Discount Drugstores (DDS). In addition, the
company manages and promotes a range of over-the-counter (OTC) private and exclusive label products
made available to brand member customers, as well as a generic range of private label products under
the Pharmacy Care range. Since its inception, Sigma's Amcal brand has grown to become one of the
largest pharmacy retailers in Australia and has pharmacies in every state and territory of Australia.
Guardian Pharmacy, which has been for more than 30 years in the business, is one of Australia's most
trusted retail brands. The company’s Discount Drug Stores is one of the leading discount pharmacy
brands in Australia. Chemist King, which was launched in 2008, offers its consumers with pharmacy,
health and beauty products at guaranteed low prices. Hence, owning strong pharmacy retail brands in
Australia helps Sigma in further strengthening its leadership position in the pharmaceuticals wholesaling
and retailing market in Australia.
Improving profitability
Improving profitability enables the company to provide more returns to its shareholders, therefore gain
their confidence. Profitability also enhances the company’s ability to pursue future growth and expansion
plans. The company’s profitability improved last year. In FY2017, operating margin was 1.9% in
comparison with operating margin of 1.8% in FY2016. Its net margin increased from 1.1% in FY2016 to
1.3% in FY2017. The company’s operating cost as a percentage of sales decreased from 98.1% in
FY2016 to 98% in FY2017. Proper cost management is an indication of the company’s high focus on
profitability.
Weakness
Sigma does not operate in geographically diverse end markets. The revenues earned by the company
are highly concentrated. During FY2017, the company derived almost all of its revenues from its domestic
market, Australia. The company's heavy reliance on Australia for revenues increases risks associated
with the socio-economic factors affecting the Australian market, and restricts its growth prospects.
Fluctuations in the demographic, economic, competitive or regulatory conditions in Australia could affect
the company's business, financial condition, results of operations and growth prospects.
Opportunity
In the recent past, the company has been focusing on product development for better growth
opportunities. As part of this strategy, In May 2018, Sigma launched CarePro. The program deals with
patient management and support services. In March 2017, Sigma framed Leapp dispensary excellence
program that would provide help to pharmacists. Such product developments may help the company to
stay abreast in the market and attracts new customer base.
Sigma, in recent years, has entered into inorganic approach to strengthen its market position. For
instance, In December 2017, Sigma acquired Medical Industries Australia which provides companies with
additional portyfolio. In September 2017, Sigma Pharmaceuticals acquired Medication Packaging
Systems. The acquisition is expected to enhance its market position in the dose administration market.
Such inorganic approach will help the company to strengthen its position in the company's markets, and
provide access to new markets.
The company could benefit from the growing global pharmaceutical industry. According to an in-house
research report, the market already realized a strong growth in past and is aiming for further positive
result in coming future. In 2017, the global pharmacy market had total revenues US$1,066.5 billion,
where Asia Pacific led the market with revenues of US$291 billion. The global market is further expected
to grow at a CAGR of 5.9% during 2017-22 to reach value of US$1,423.6 billion by the end of 2022. In
FY2017, the US accounted for 37.6% of the global pharmaceutical market followed by Asia Pacific
(27.3%). Major factors driving the growth include increased specialty drug innovation, greater patient
access to medicines in developing countries and reduced impact from patent expiry dates. Apart from
these, the global pharmaceutical market is projected to be strongly influenced by positive global GDP
growth, innovations and the introduction of new products, wider access to healthcare services and rising
funding. The company provides various solutions to pharmaceutical industries. Thus, positive outlook of
global pharmaceutical industry may help in increasing demand for the company’s products.
Threat
Regulatory reforms
The healthcare industry generally including pharmaceutical distribution is subject to significant regulation
and the risk of legislative and regulatory change. The reform introduced by the Federal Government of
Australia to the Pharmaceutical Benefits Scheme (PBS) has had the impact of lowering the prices paid for
medicines which have been genericized and thereby lowering the distribution margin earned by the
company. The company anticipates these changes to continue into the future. Further, the Federal
Government Review of Pharmacy Remuneration and Regulation is expected to report to the Health
Minister of Australia by March 2017. The terms of reference for this review are broad and include the
appropriate level and structure of remuneration for community pharmacy for dispensing medicines under
the PBS; and the appropriate regulation of pharmacy and pharmacy distribution, including the role of the
pharmacy location rules, among other things. This review may have a negative implication for Sigma’s
business model. In addition, Sigma is a signatory to the Community Service Obligation (CSO) deed which
governs the basis under which it distributes medicines around Australia, in return for access to a pool of
funding that subsidizes the distribution of pharmaceuticals to rural and remote parts of Australia. For
Sigma, failure to meet the obligations under this deed or other state based legislation may result in fines,
or loss of license to distribute pharmaceuticals. Such regulatory reforms or legislative changes in Australia
may affect Sigma's financial condition.
Competition pressures
The company faces competition in industry. Sigma competes with other pharmaceutical companies in all
major markets to develop innovative products and technologies such as Australian Pharmaceutical
Industries Ltd, Bod Australia Ltd, HGL Limited, HL Pharma Pty Ltd, Symbion Pty Ltd among others. The
company also faces competition from generic drugs that enter the market when its patent protection or
regulatory exclusivity expires. The company should, therefore, anticipate industry trends and develop
advanced products ahead of its competitors. Sigma expects to encounter competition in the future, which
could limit its ability to enhance revenue and maintain acceptable pricing levels.
Evolution of the health care industry affects the company’s member, client, and vendor bases and the
demand for its services will be reduced due to the termination of existing contracts. This makes it more
difficult for Sigma to negotiate new contracts on acceptable terms. For example, the current trend toward
consolidation of health care providers within hospital systems could result in the termination of the
existing client contracts as independent practices are merged into hospital systems. If these trends
continue, the company fails to expand its client base, negotiate contracts efficiently, or maintain its current
pricing structure. As a result, its profits might decrease.
Top Competitors
TOP COMPETITORS
The following companies are the major competitors of Sigma Pharmaceuticals Limited
Company View
COMPANY VIEW
A joint statement given by Mr. Mark Hooper, the Chief Executive Officer and the Managing Director, and
Mr. Brian Jamieson the Chairman of Sigma Healthcare Ltd is given below. It has been taken from the
company’s annual report 2018.
Overview of Operations
The Group is one of the largest full line pharmaceutical wholesaler and distribution businesses in
Australia, delivering daily to pharmacies Australia wide. The Group also operates Australia’s largest
pharmacy-led network, across the brands Amcal, Chemist King, Discount Drug Stores, Guardian, and
PharmaSave.
Through its Sigma Hospital Services business, the Group also has an expanding national presence in the
hospital pharmacy distribution market, as well as the provision of third party logistics services through its
subsidiary Central Healthcare Pty Limited (CHS). The Group manages and promotes a range of over-the-
counter Private and Exclusive Label products made available to brand member customers, as well as the
Pharmacy Care Private Label range that is made available to all pharmacy customers.
During the year, the Group commenced providing dose administration aid and related services through its
acquisition of the Medication Packaging Systems (mps) business, and supplying medical and allied
products through its acquisition of the Medical Industries Australia business.
Financial Performance
The Group consolidated Net Profit After Tax (NPAT) attributable to owners of the company for the year
ended 31 January 2018 of $55,059,000 was up 3.5% from the prior year ($53,184,000).
Reported Earnings Before Interest and Tax (EBIT) of $83,747,000 was up 3.4% on the prior year. The
underlying EBIT attributable to owners of the Company of $90,252,000 was down 10.0% from
$100,228,000 reported in the prior year.
Both periods were impacted by significant non-operating items. In the current period, expenses totalling
$6,914,000 before tax ($4,840,000 after tax) resulted from restructuring, acquisition and due diligence
costs. The prior year included an expense of $11,368,000 before tax ($7,958,000 after tax) that resulted
from the insurance reimbursement relating to the 2012 class action settlement, and a doubtful debt
provision that was raised against a single pharmacy group, totalling $8,262,000 before tax ($5,783,000
after tax).
Removing the impact of the non-operating adjustments discussed above, the underlying NPAT
attributable to owners of the Company was down 10.5% to $59,899,000 ($66,925,000 in the prior year).
Sales revenue was $4,129,819,000 for the period, down 5.4% from $4,366,208,000 in the prior year. The
decrease in sales revenue was heavily influenced by the reduction in demand for high cost Hepatitis C
medications compared to the prior year, which was as anticipated and in line with broader market trends.
Adjusting for sales of Hepatitis C medications in the current period, sales revenue was consistent with the
prior year, although there were several factors that impacted sales over the period, including:
Gross profit for the period of $284,363,000 was down 1.8% from $289,546,000 in the prior year. Total
gross margin of 6.9%, up from 6.6%, reflects the reduction in sales of the high cost and low margin
Hepatitis C medications. Excluding the influence of Hepatitis C sales, underlying gross margin remained
steady year on year at 7.7%.
Other revenue was up 8.2% to $83,478,000 ($77,153,000 in the prior year). Other revenue includes
pharmacy brand member fees, supplier rebates, promotional and marketing income and data analytics
services. This increase was driven by increased fees and rebates from suppliers and the contribution from
(mps) since acquisition.
Warehouse and delivery expenses of $145,055,000 for the current period were up 10.0% from the prior
year ($131,817,000). This increase mainly reflected the expansion of the CHS business to include costs
associated with the new Western Australian distribution centre, Linton Street, and increases in people
costs in accordance with our EBA agreements. During the second half, operating costs were also
incurred in establishing Sigma’s new distribution centre in Berrinba, Queensland, whilst continuing to fully
operate the existing metro Queensland facility in Mansfield.
Investment in the Group’s key distribution centres is expected to drive operational efficiencies, with the
site at Berrinba in Queensland commencing operation in February 2018, the new Western Australian
distribution centre at Canning Vale expected to be completed in the second half of the 2018 calendar
year, and a new New South Wales distribution centre in Kemps Creek in the western suburbs of Sydney
scheduled to commence construction in the first half of the 2018 calendar year, with completion expected
early in the 2020 calendar year.
Sales and marketing expenses of $64,343,000 for the period were down 13.8% from $74,665,000 in the
prior year. The decrease was largely driven by a reduction in the expense associated with the provision
for doubtful debts compared to the prior year, combined with reductions in bonus expenses and other
people costs across this area.
Administration costs of $65,609,000 for the period were up 10.1% from $59,607,000 in the prior year. The
cost increase was driven by increased investment in CHS and the supply chain and business
development functions to support future growth, in addition to non-operating costs associated with due
diligence and business development activities, additional legal and redundancy costs.
Net interest expense of $5,012,000 was up from $4,286,000 in the prior year, reflecting additional
average monthly and year-end net debt to facilitate business acquisitions and the capital investment in
the distribution network.
Income tax expense of $23,349,000 (effective tax rate of 29.7%) was up from $23,163,000 (effective tax
rate of 30.2%) in the prior year, in line with the increase in reported profit before tax.
Financial Position
The Group’s net assets in the last 12 months decreased from $538,587,000 to $515,259,000 as a result
of the purchase of shares during the financial year for both the Employee Share Plan and the share buy-
back program.
The working capital balance of $378,826,000 was down from $387,132,000 in the prior year, with the
Cash Conversion Cycle (CCC), being the net of days sales outstanding, days inventory on hand and days
payable outstanding, increasing by one day for the current period. Adjusting for the influence of the high
cost Hepatitis C medications, the CCC improved by one day to 35 days.
Underlying Return on Invested Capital (ROIC) was 16.6% for the current period compared to 17.7% for
the prior year. ROIC remains a strong focus for management, with the decrease representing additional
capital employed because of business investment activities.
The continuation of the on market share buy-back program saw $12,019,000 invested to acquire and
cancel 14,584,073 shares. Since the program commenced in October 2012, the Company has invested
$98,618,000 to acquire and cancel 130,721,675 shares, at an average of $0.75 per share. This equates
to 11.0% of issued capital at the commencement of the program.
The Group is currently transitioning operations from the Mansfield distribution centre to the newly
completed distribution centre on owned land in Berrinba in South East Queensland. This process is
expected to be completed by May 2018. During the financial year, the Group also commenced
construction of a new distribution centre on owned land in Canning Vale in Western Australia. This new
distribution centre is anticipated to be operational in the last quarter of the 2018 calendar year. The Group
has also acquired land at Kemps Creek in New South Wales. Construction of a new distribution centre is
expected to commence in April 2018, and is anticipated to be operational in the first quarter of the 2020
calendar year.
A number of business enhancement programs and initiatives are continuing, focused on driving
operational improvements across the Group. This includes Project Renew, which is a whole of business
review of end to end processes to streamline and enhance the way the Group does business, which may
also lead to the eventual implementation of a new enterprise resource planning (ERP) system. The Group
remains confident these strategic initiatives will contribute to growth for the medium and long term.
Material Risks
A final report from the Review of Pharmacy Remuneration and Regulation (PRRR) was provided to the
Federal Health Minister during the 2017 calendar year. The PRRR is a far reaching examination of the
pharmacy operating environment, from manufacturer, wholesaler, pharmacy and consumer. Any
recommendations from this review may form the basis of the negotiation for the Seventh Community
During the 2017 calendar year, a supplier of PBS products, Astra Zeneca, notified wholesalers that it
intended to commence exclusive only direct to pharmacy distribution for a narrow range of profitable
products, retaining all other products within the wholesaler network. The Group and industry bodies are in
discussions with government regarding the impact such an anti-competitive exclusive model has on the
supply chain. Should the exclusive direct to pharmacy model be allowed to continue to flourish, this may
have a material impact on the wholesale supply chain.
In May 2017, the Group announced the commencement of legal proceedings against a major customer
group in relation to the operation of certain aspects of the supply agreement. As a result of the parties
entering into formal negotiations and subsequently reaching a commercial resolution, this proposed legal
action ceased. The current agreement between the Group and the major customer is due to expire in
June 2019, and is subject to ongoing discussions and negotiation for a new agreement. These
discussions may or may not lead to the parties entering into a new agreement.
Other than as highlighted above, there has not been a material change in the Group’s risk profile since 31
January 2017.
Head Office
Financial Overview
FINANCIAL OVERVIEW
Summarized Statement
*Note: Eliminations not included, all figures in Million except per share data.
Detailed Statement
*Note: Eliminations not included, all figures in Million except per share data.
Note Receivable - Long Term AUD 6.61 4.74 9.19 3.46 0.87
Other Long Term Assets, Total AUD 7.13 7.14 9.37 14.68 17.78
Total Assets AUD 945.17 1,055.66 1,108.65 1,118.88 1,308.24
Accounts Payable AUD 327.49 373.88 406.66 475.29 526.51
Payable/ Accrued AUD 25.57 76.75 39.46 48.49 42.29
Accrued Expenses AUD 10.72 12.78 13.73 14.26 16.52
Notes Payable/ Short Term Debt AUD 0.00 0.00 73.01 32.13 0.00
Current Port. of LT Debt/ Capital AUD 0.00 0.29 0.01 0.01 195.01
Leases
Other Current liabilities, Total AUD 0.58 14.62 16.21 4.44 4.17
Total Current Liabilities AUD 364.36 478.32 549.08 574.61 784.51
Long Term Debt AUD 0.00 0.34 1.03 1.02 0.79
Total Long Term Debt AUD 0.00 0.34 1.03 1.02 0.79
Total Debt AUD 0.00 0.63 74.05 33.16 195.80
Minority Interest AUD 0.00 0.00 1.50 1.82 2.15
Other Liabilities, Total AUD 1.98 4.00 4.89 4.67 7.69
Total Liabilities AUD 366.34 482.66 556.50 582.12 795.13
Common Stock, Total AUD 1,336.07 1,315.29 1,304.15 1,299.16 1,287.14
Retained Earnings (Accumulated AUD -715.78 -682.72 -686.57 -690.42 -688.41
Deficit)
Treasury Stock - Common AUD -41.65 -59.82 -65.75 -72.25 -86.38
Unrealized Gain (Loss) AUD 0.00 0.00 0.11 -0.03 0.55
Other Equity, Total AUD 0.20 0.26 0.23 0.31 0.21
Total Equity AUD 578.83 573.00 552.15 536.76 513.11
Total Liabilities & Shareholders' AUD 945.17 1,055.66 1,108.65 1,118.88 1,308.24
Equity
Total Common Shares AUD 1,119.95 1,093.42 1,079.44 1,075.24 1,060.65
Outstanding
Cash Flow
Cash Receipts AUD 3,340.63 3,477.77 3,841.28 4,930.18 4,609.33
Cash Payments AUD -3,249.49 -3,410.43 -3,777.37 -4,727.36 -4,502.94
Changes in Working Capital AUD -1.23 1.52 1.98 -9.63 1.46
Cash from Operating Activities AUD 79.65 61.31 32.15 145.77 71.18
Capital Expenditures AUD -7.29 -10.23 -7.20 -27.33 -68.03
Other Investing Cash Flow Items, AUD 0.08 -23.76 -42.44 -3.13 -26.48
Total
Cash from Investing Activities AUD -7.22 -34.00 -49.64 -30.46 -94.51
Financing Cash Flow Items AUD -12.65 -17.93 -12.42 -19.64 -18.67
Total Cash Dividends Paid AUD -44.24 -21.51 -51.30 -55.75 -55.20
Issuance (Retirement) of Stock, AUD -30.85 -20.85 -8.18 7.94 -7.58
Net
Issuance (Retirement) of Debt, AUD -30.00 -0.22 -0.49 -0.01 194.77
Net
Cash from Financing Activities AUD -117.74 -60.51 -72.40 -67.45 113.33
Foreign Exchange Effects AUD 0.09 0.01 -0.01 0.02 -0.03
Net Change in Cash AUD -45.22 -33.18 -89.89 47.88 89.98
Cash Interest Paid AUD -4.46 -3.83 -5.26 -6.18 -6.26
Cash Taxes Paid AUD -5.81 -3.72 -28.47 -41.24 -30.41
Other Long Term Assets, Total AUD 14.68 15.66 17.77 18.71
Total Assets AUD 1,118.88 1,208.25 1,308.24 1,325.43
Accounts Payable AUD 523.77 550.60 568.80 596.46
Notes Payable/ Short Term Debt AUD 32.13 0.00 0.00 0.00
Current Port. of LT Debt/ Capital AUD 0.01 95.01 195.01 200.01
Leases
Other Current liabilities, Total AUD 18.69 20.22 20.69 20.60
Total Current Liabilities AUD 574.61 665.84 784.51 817.07
Long Term Debt AUD 1.02 1.01 0.79 0.78
Total Long Term Debt AUD 1.02 1.01 0.79 0.78
Total Debt AUD 33.16 96.03 195.80 200.80
Minority Interest AUD 1.82 1.88 2.15 0.88
Other Liabilities, Total AUD 4.67 8.53 7.68 6.36
Total Liabilities AUD 582.12 677.26 795.13 825.09
Common Stock, Total AUD 1,299.16 1,295.60 1,287.14 1,286.27
Retained Earnings (Accumulated AUD -690.14 -692.19 -687.65 -702.63
Deficit)
Treasury Stock - Common AUD -72.25 -72.42 -86.38 -83.69
Unrealized Gain (Loss) AUD 0.00 0.00 0.00 0.18
Other Equity, Total AUD 0.00 0.00 0.00 0.22
Total Equity AUD 536.76 530.99 513.11 500.34
Total Liabilities & Shareholders' Equity AUD 1,118.88 1,208.25 1,308.24 1,325.43
Total Common Shares Outstanding AUD 1,075.24 1,070.87 1,060.65 1,059.49
Cash Flow Currency Jan-2017 (12 Jul-2017 (6 Jan-2018 (12 Jul-2018 (6
Months) Months) Months) Months)
Cash Receipts AUD 4,930.18 2,237.10 4,609.33 2,192.47
Cash Payments AUD -4,727.36 -2,212.78 -4,502.94 -2,156.53
Cash Taxes Paid AUD -41.24 -17.26 -30.41 -13.04
Cash Interest Paid AUD -6.18 -2.34 -6.26 -5.36
Changes in Working Capital AUD -9.63 0.75 1.46 0.43
Cash from Operating Activities AUD 145.77 5.47 71.18 17.96
Capital Expenditures AUD -27.33 -35.82 -68.03 -58.71
Other Investing Cash Flow Items, AUD -3.13 0.74 -26.48 -0.68
Total
Cash from Investing Activities AUD -30.46 -35.08 -94.51 -59.39
Financing Cash Flow Items AUD -19.64 -4.18 -18.67 -3.25
Total Cash Dividends Paid AUD -55.75 -30.29 -55.20 -26.18
Issuance (Retirement) of Stock, Net AUD 7.94 0.06 -7.58 5.20
Issuance (Retirement) of Debt, Net AUD -0.01 95.00 194.77 4.99
Cash from Financing Activities AUD -67.45 60.59 113.33 -19.24
Interim Ratios
John Carpenter House, John Carpenter Street, London, United Kingdom, EC4Y 0AN
T: +44 (0) 203 377 3042 | F: +44 (0) 870 134 4371 | E: reachus@marketline.com | W: www.marketline.com