| Actual 2023 ($000) | Cash flows | Actual 2024 ($000) | Unaudited budget 2024 ($000) | Unaudited forecast 2025 ($000) |
|---|---|---|---|---|
| Cash flows from operating activities | ||||
| $726,480 | Receipts from the Crown | $784,391 | $718,441 | $754,638 |
| $7,986 | Receipts from other revenue | $5,037 | $7,862 | $8,187 |
| $(389,256) | Payments to employees | $(435,365) | $(449,120) | $(468,355) |
| $(219,088) | Payments to suppliers | $(216,863) | $(206,664) | $(215,302) |
| $(23,107) | Payments for capital charge | $(22,245) | $(22,168) | $(22,190) |
| $1,738 | Goods and services tax (net) | $2,813 | $1 | $2,215 |
| $104,753 | Net cash flow from operating activities | $112,142 | $48,352 | $59,193 |
| Cash flows from investing activities | ||||
| $612 | Receipts from sale of property, plant and equipment | $792 | - | - |
| $(23,035) | Purchases of property, plant and equipment | $(21,955) | $(24,800) | $(22,900) |
| $(14,262) | Purchases of intangible assets | $(13,864) | $(18,102) | $(37,100) |
| $(36,685) | Net cash flow from investing activities | $(35,027) | $(42,902) | $(60,00) |
| Cash flows from financing activities | ||||
| $2,700 | Capital injections | - | - | $800 |
| $(52,266) | Repayment of surplus to the Crown | $41,219 | - | - |
| $(11,900) | Capital withdrawals | $(5,500) | $(5,500) | - |
| $(61,466) | Net cash flow from financing activities | $(46,719) | $(5,500) | $(800) |
| $(6,602) | Net increase or (decrease) in cash and cash equivalents | $30,396 | $(50) | $(7) |
| $46,663 | Cash and cash equivalents at the beginning of the year | $53,265 | $45,115 | $45,072 |
| $53,265 | Cash and cash equivalents at the end of the year | $83,661 | $45,065 | $45,065 |
| $28,987 | Net surplus | $24,509 | - | - |
| Add or (less) non-cash items | ||||
| $48,596 | Amortisation, depreciation and impairment | $48,236 | $54,990 | $62,300 |
| $12,232 | Movement in fair value of derivative financial instruments | $25 | - | $(15,522) |
| $60,828 | Total non-cash items | $48,261 | $54,990 | $46,778 |
| Add items classified as investing or financing activities | ||||
| 139 | Net loss or (gain) on disposal of property, plant and equipment and intangible assets | $186 | - | - |
| $139 | Total items classified as investing or financing activities | $186 | - | - |
| Add or (less) working capital movements | ||||
| $(50) | (Increase) or decrease in debtor Crown | $41,134 | $(11,276) | $6,213 |
| $5,372 | (Increase) or decrease in debtors and prepayments | $(119) | $4,031 | $582 |
| $3,241 | Increase or (decrease) in creditors and other payables | $(508) | $4,117 | $(8,942) |
| $5,555 | Increase or (decrease) in employee entitlements | $(1,269) | $4,699 | $(2,684) |
| $681 | Increase or (decrease) in provision for other liabilities | $(52) | $25 | $(188) |
| $14,799 | Net movements in working capital items | $39,186 | $(6,638) | $(12,415) |
| $104,753 | Net cash flow from operating activities | $112,142 | $48,352 | $59,193 |
|
Movement in liability arising from financing activities |
||||
| $(11,047) | Increase or (decrease) in surplus payable to the Crown liability | $(16,684) | - | - |
| $(11,047) | Total movement in liability arising from financing activities | $(16,684) | - | - |
| Non-cash item | ||||
| $(41,219) | Surplus payable to the Crown | $(24,534) | - | - |
| $(41,219) | Total non-cash item | $(24,534) | - | - |
| Add or (less) owner's injection and withdrawal | ||||
| $2,700 | Capital contribution | - | - | - |
| $(11,900) | Capital withdrawal | $(5,500) | - | - |
| $(9,200) | Net owner’s injection and withdrawal | $(5,500) | - | - |
| $(61,466) | Net cash flows from financing activities | $(46,719) | - | - |
The accompanying accounting policies and notes form part of these financial statements.
Last updated:
05 Dec 2024