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Latest Financials

OPERATING FINANCIAL PERFORMANCE

$Million 2008 2009 2010 2011 2012
Revenue 123.9 187.2 178.1 174.8 206.4
Underlying EBITDA 23.3 31.5 21.4 20.6 27.3
Acquisition Costs - - - (0.8) (1.6)
EBITDA* 23.3 31.5 21.4 19.8 25.7
Depreciation and amortisation (3.9) (5.8) (6.3) (6.3) (8.3)
EBIT 19.4 25.8 15.1 13.5 17.4
Net Financing Costs and Fair Value Amortisation (4.9) (8.1) (5.8) (2.8) (5.0)
Share of loss in asociate/jointly controlled entity (1.2) (5.8) (4.2)
Gain on sale of subsidiary - - 77.9 12.3 -
Impairment of goodwill/investment - - (4.5) - -
NPBT 14.5 17.6 81.5 17.2 8.2
Taxation (5.7) (6.0) (2.6) (3.7) (4.2)
Minority Interest (1.0) (1.9) (2.0) (2.0) (2.4)
NPAT 7.8 9.7 76.9 11.5 1.6

Reconciliation to Underlying Earnings (due to changes in IFRS in 2010)
Less Gain on sale of subsidiary & cancellation of interest rate swaps - - (77.1) (12.3) -
Add back: Impairment of investment/Tax asset - - 4.5 3.1 -
Add back: Fair value amortisation of deferred acquistion consideration  -  - 0.1 0.2 0.1
Add back: Acqusition costs - - - 0.6 1.3
Underlying earnings at NPAT 7.8 9.7 4.4 3.1 3.0
         
No. of shares at year end (000s) 23,030 23,233 20,897 15,672 16,256
Underlying EBITDA Per Share

101.2c

135.8c

96.2c

108.0c

160.0c

Reported Profit Per Share 34.0c 42.1c 345.9c 67.8c 10.1c
Underlying Earnings Per Share 34.0c 42.1c 19.7c 16.2c 18.7c
(Based on weighted average number of shares)

FINANCIAL POSITION

$Million 2008 2009 2010 2011 2012
Total Assets 163.7 230.4 161.9 169.0 203.2
Net Bank Debt 33.9 82.2 13.4 34.9 57.6
Net Debt 77.4 122.0 19.2 49.5 76.3
Total Equity 55.3 62.5 113.4 91.4 90.0

KEY FINANCIAL RATIOS

$Million 2008 2009 2010 2011 2012
Net Bank Debt/Total Assets 20.7% 35.7% 8.3% 20.7% 28.4%
Net Debt/Total Assets 47.3% 53.0% 11.9% 29.3% 37.6%


*EBITDA excludes profit/losses generated by Bay International, in which Abano holds a 50% shareholding. Due to this, the results for the Bay Group are now equity accounted and therefore no longer included in the consolidated EBITDA. FY11 EBITDA has been restated to provide a like for like comparison.

More information on the impact of IFRS and Underlying Earnings can be found here.