BU1002/BU1902 Case Study Workbook - Desklib

The BU1002/BU1902 Case Study Workbook provides insights into the financial statements of Orbital Corporation. The workbook covers topics such as introduction to company annual report, financial statements, financial statement analysis tools and more. It includes questions related to profitability, asset efficiency and more. The company operates at an international level and has diversified its business into energy industry, propulsion system, technology licensing and automobile industry. Download the workbook now on Desklib.

BU1002/BU1902 CASE STUDY WORKBOOK
Introduction to Real-
World AnnualReports
Company explored in the case study: Orbital Corporation
Student Name andId Number:

BU1002/BU1902 – (CNS/EXT/TSV) CASE STUDY WORKBOOK 2018
Table of Contents:
Part 1 – Introduction to Company Annual Report and Financial Statements........3
Part 2 – Financial Statements................................................................................4
Part 3 – Financial Statement Analysis Tools...........................................................7
References...........................................................................................................11
Appendix..............................................................................................................12
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BU1002/BU1902 – (CNS/EXT/TSV) CASE STUDY WORKBOOK 2018
Part 1 – Introduction to Company Annual Report and Financial
Statements
Part 1 – Question 1: (related content – topic 2)
Write a background summary of your assigned company. You may like to use some of the following
prompts in your summary:
 When and why did your company first commence operation?
 What is the main or core business of the company?
 Some companies are diversified and have investments in other industries, for example,
Wesfarmers has diverse business operations that cover supermarkets, department stores,
home improvement and office supplies; coal production and export; chemicals, energy and
fertilisers; and industrial and safety products. Is your assigned company diversified? What
industries does the company operate in?
 Does your assigned company operate solely within Australia or does it operate
internationally? Identify the operational locations.
Orbital Corporation limited has started its business in 1989. It has been started by Ralph Sarich. The
head office of the company is in Balcutta, Western Australia. The main aim of the business is to offer
clean engine technologies and other fuel systems along with lesser environmental impact. The
company has diversified its business into energy industry, propulsion system, technology licensing
and automobile industry to grab more market share. The company is operating and running its
operations at international level (Home, 2018).
Part 1 - Question 2: (related content – topic 2)
Briefly list the information included in the company’s corporate governance report. Does this
information differ from the corporate governance information covered in the content and required
reading for topic 1? (Note, if not presented in the Company Annual Report, review the Company
website).
The corporate governance report of the company briefs that the ASX corporate governance
principles and suggestions are followed by the company and the company is managing and
maintaining the highest corporate governance standards. The board of the company has reviewed
and approved all codes, policies and charts of the company and briefed that the corporate
governance of the company is quite better (Corporate governance, 2018).
Part 1 - Question 3: (related content – topic 2)
What position was held and what was the composition and total remuneration of the highest paid
board member? (Hint – try the Directors’ Report.)
The highest revenue has been paid by the company to Geoff P Cathcart who is the chied technical
officer of the company. The total revenue of Geoff is $ 3,32,142 (Bloomberg, 2018).
Part 1 - Question 4: (related content – topic 2)
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BU1002/BU1902 – (CNS/EXT/TSV) CASE STUDY WORKBOOK 2018
How many “subsidiary companies” or “controlled entities” are in the group? (Hint; try looking
towards the end of the financial statements, near the end of the report). Are the
subsidiaries/controlled entities located domestically and or internationally? Identify where they are
located. This will give you insight into how widespread the company’s operations are and may assist
you with your background information.
According to the annual report of the company, it has been found that the various controlled entities
are in the group of the companies. Currently 14 companies are working under the company and out
of them, 10 entities are located at Australia and rest 4 is located at USA and UK. It explains that the
company is operating its business at international level (Annual Report, 2017).
Part 2 – Financial Statements
Part 2 – Question 1 (Balance Sheet): (related content – topic 4)
What is the amount invested by the company in net assets for the current year? (Hint use total
assets less total liabilities). How does this amount differ from the value of net assets for each of the
previous three years? Can you identify any reason for the changes? (Hint: look at the individual
amounts that make up both the total assets and total liabilities, are there any changes to individual
items over this three-year period? Alternatively, you could perhaps look at the notes to the financial
statements in the annual report to see if there are any changes in the breakdown of individual items
in the reports.) Discuss.
The company has invested $ 1,91,83,000 amounts in the net assets of the company in current year.
Further, it has been found that the net assets of last 2 years are $ 2,19,42,000 and 3,12,68,000
respectively which express about lesser investment in this year. The main reason behind these
changes is higher total current assets and investment of the company (Annual Report, 2016).
Part 2 – Question 2 (Balance Sheet): (related content – topic 4)
How much was the total equity for the current year? How does this differ from the total equity in
each of the previous three years? Can you identify any reason for changes in the individual equity
items over the 3-year period? Discuss.
The total equity of the current year is $ 1,91,83,000. Further, it has been found that the total equity
of last 2 years are $ 2,19,42,000 and $ 3,12,68,000 respectively which express about lesser
investment in this year. The main reason behind these changes is higher retained earnings and
reserves of the company (Annual Report, 2016).
Part 2 – Question 3 (Balance Sheet): (related content – topic 4)
How much was the total current assets for the current year and what are the components classified
under this heading? Is there any difference in the value of total current assets for each of the
previous three years? Can you identify any reason if there are any changes? Discuss. (Hint: you
may need to refer to the notes to the financial statements in the annual report to review more
detailed information.)
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BU1002/BU1902 – (CNS/EXT/TSV) CASE STUDY WORKBOOK 2018
The total current assets of the current year is $ 2,95,10,000 which includes Cash, accounts
receivable, prepaid expenses, inventories, NCA held assets, investments and other current assets.
Further, it has been found that the total current assets of last 2 years are $ 1,63,08,000 and
3,65,63,000 respectively which express about lesser investment in this year (Annual Report, 2015).
The main reason behind these changes is lesser cash and inventories of the company in the current
year.
Part 2 – Question 4 (Balance Sheet): (related content – topic 4)
What are the items listed under non-current liabilities? Are there any new non-current liabilities in
the current year that were not there in the previous three years? (Hint: you will need to look in the
notes to the accounts to see the breakdown of non-current liabilities).
According to the balance sheet of the company, noncurrent liabilities of the company are Account
payable, long term debt, provisions and other current liabilities of the company. No new current
liabilities have been entertained by the company in the current year.
Part 2 – Question 5 (Statement of Profit or Loss): (related content – topic 5)
How much was net profit for the current year? How does this compare to the net profit for each of
the previous three years? Can you identify any particular revenues or expenses that may have led to
changes in the profit figures over the three-year period? Discuss.
According to the income statement of the company, net profit of the company is -1,22,51,000 which
explains about the loss position of the company. Though, the net profit of last 2 years is 12,15,000
and -47,29,000 respectively. It explains that the company is required to make few changes into its
operations. The difference among profit and loss of current and last year have occurred due to lesser
total revenue in current year and higher operating expenses (Annual Report, 2016).
Part 2– Question 6 (Statement of Profit or Loss) (related content – topic 5)
Is the total revenue in the current year greater or less than the total annual revenue recorded in
each of the previous three years? Discuss.
The current year revenue of the company is $ 1,76,95,000 which includes operating revenue and
other revenues. The last year revenue of the company is $ 2,30,84,000 and 1,48,45,000 in 2016 and
2015 respectively. The revenue amount of the company is highest in 2016.
Part 2 – Question 7 (Statement of Cash Flows): (related content – topic 6)
How much was the cash flows from operating activities for the current year? What was the largest
inflow item and the largest outflow item in the operating activities section? Does this differ from the
previous three years? Discuss.
The cash flow statement calculations brief that the operating cash flow of the company is $ -
48,53,000 in current year. In the current year, the largest operating inflow of the company was from
receipts from customers and largest operating cash outflow was payment to customers.
Part 2 – Question 8 (Statement of Cash Flows): (related content – topic 6)
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BU1002/BU1902 – (CNS/EXT/TSV) CASE STUDY WORKBOOK 2018
How much was the cash flow from investing activities in the current year? Has the company had
any new investing cash flows in the current year compared to the previous three years? If they did,
list the activities (Hint: it may be necessary to look in the notes to the accounts).
The cash flow statement of the company briefs that the investing cash flow of the company in
current year is $ -19,09,000. The investing cash inflow of the company is “sale of investments”. No
new investing cash flows have taken place into the company in last 3 years (Annual Report, 2017).
Part 2 – Question 9 (Statement of Cash Flows): (related content – topic 6)
What was the net change in cash flows in the current year? How does this change compare to the
previous three years? Discuss.
The cash flow statement of the company briefs that the net cash flow of the company in current year
is $ -74,79000. On the other hand, in 2016 and 2015, the net cash flow of the company was
1,73,74,000 and 54,16,000. These changes in current year have taken place due to high cash outflow
in current year.
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BU1002/BU1902 – (CNS/EXT/TSV) CASE STUDY WORKBOOK 2018
Part 3 – Financial Statement Analysis Tools
Part 3 – Question 1 (Profitability): (related content – topic 7)
Has the profit margin changed over the past three years? Is this a good result for the company?
Briefly discuss what the change indicates. (Hint:you may like to review your calculations after you
have prepared the horizontal and vertical analysis of the Statement of Profit or Loss (Income
Statement) and Balance Sheet to assist in your analysis of this ratio.)
The profit margin of last 3 years of the company is -85.94%, 10.45% and -49.50% in 2017, 2016 and
2015 respectively. It briefs that the current profit margin of the company is in negative. It explains
that the profitability level of the company is worst in current year and it is required for the company
to make few changes into its operations to enhance the revenue and reduce the expenses of the
company.
Part 3 – Question 2 (Profitability): (related content – topic 7)
Can you identify a trend in the return on equity ratio over the past three years? Comment on the
trend. Briefly discuss possible reasons for this trend.
The return on equity of last 3 years of the company is -48.57%, 4.57% and -22% in 2017, 2016 and
2015 respectively. It briefs that the current return and profitability position of the company is in
negative. It explains that the profitability level of the company is worst in current year and it is
required for the company to make few changes into its operations to enhance the revenue and
reduce the expenses of the company (Annual Report, 2016).
Part 3 – Question 3 (Asset efficiency): (related content – topic 7)
Identify if the asset turnover ratio increased or decreased over the past three years? Is this a good
result for the company? Briefly discuss what the change indicates.
The asset turnover ratio of last 3 years of the company is 0.3327, 0.2405 and 0.2242 in 2017, 2016
and 2015 respectively. It briefs that the asset turnover of the company has been enhanced in current
year. This is not a good result for the company as from now, extra working capital would be required
by the company for its daily operations as well as the efficiency of the company would also be
hampered.
Part 3 – Question 4 (Asset efficiency): (related content – topic 7)
Has the receivables turnover changed over the past threeyears?Is this a good result for the
company? Briefly discuss what the change indicates.
The receivable turnover ratio of last 3 years of the company is 2.39, 1.88 and 1.58 in 2017, 2016 and
2015 respectively. It briefs that the receivable turnover of the company has been enhanced in
current year in comparison of last 2 years. This is not a good result for the company as from now,
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BU1002/BU1902 – (CNS/EXT/TSV) CASE STUDY WORKBOOK 2018
extra working capital would be required by the company for its daily operations as well as the
efficiency of the company would also be hampered (Annual Report, 2017).
Part 3 – Question 5 (Asset efficiency): (related content – topic 7)
Has the inventory turnover changed over the past threeyears?Is this a good result for the company?
Briefly discuss what the change indicates.
The inventory turnover ratio of last 3 years of the company is 3.79, 5.02 and 5.14 in 2017, 2016 and
2015 respectively. It briefs that the inventory turnover of the company has been reduced in current
year. This is a good result for the company as from now, less working capital would be required by
the company for its daily operations as well as the efficiency of the company would also be
enhanced.
Part 3 – Question 6 (Liquidity): (related content – topic 7)
Has the current ratio increased or decreased over the past three years? Is this a good result for the
company? Briefly discuss what the change indicates.
The current ratio of last 3 years of the company is 3.07, 3.81 and 2.04 in 2017, 2016 and 2015
respectively. It briefs that the current ratio of the company has been enhanced in current year. This
is not a good result for the company as it indicates about minimum utilization of maximum resources
as well as high working capital of the company (Annual Report, 2018).
Part 3 – Question 7 (Liquidity): (related content – topic 7)
Has the quick ratio increased or decreased over the past three years? Is this a good result for the
company? Briefly discuss what the change indicates.
The quick ratio of last 3 years of the company is 2.73, 3.36 and 1.99 in 2017, 2016 and 2015
respectively. It briefs that the quick ratio of the company has been lowered in current year. Though,
this is not a good result for the company as it indicates about minimum utilization of maximum
resources as well as high working capital of the company
Part 3 – Question 8 (Liquidity): (related content – topic 7)
Has the cash flow (to current liabilities) ratio increased or decreased over the past three years? Is
this a good result for the company? Briefly discuss what the change indicates.
The cash flow ratio of last 3 years of the company is -0.50, -.053 and -0.42 in 2017, 2016 and 2015
respectively. It briefs that the cash flow ratio of the company has been lowered in current year.
Though, it is not a good result for the company as it indicates about losses and negative cash flows of
the company.
Part 3 – Question 9 (Capital structure/Gearing): (related content – topic 7)
Has the debt to assets ratio increased or decreased over the past three years? Is this a good result
for the company? Briefly discuss what the change indicates.
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BU1002/BU1902 – (CNS/EXT/TSV) CASE STUDY WORKBOOK 2018
The debt to assets ratio of last 3 years of the company is 47.46%, 36.43% and 53.85% in 2017, 2016
and 2015 respectively. It briefs that the debt to assets ratio of the company has been enhanced in
current year from last year but has been lowered from 2015. This is a good result for the company as
it indicates about lesser risk of the company (Annual Report, 2017).
Part 3 – Question 10 (Capital structure/Gearing): (related content – topic 7)
Has the debt to equity ratio increased or decreased over the past three years? Is this a good result
for the company? Briefly discuss what the change indicates.
The debt to equity ratio of last 3 years of the company is 0.903, 0.573 and 1.167 in 2017, 2016 and
2015 respectively. It briefs that the debt to equity ratio of the company has been enhanced in
current year from last year but has been lowered from 2015. This is a good result for the company as
it indicates about better management of capital and lesser risk of the company.
Part 3 – Question 11 (Horizontal Analysis): (related content – topic 8)
Conduct a horizontal analysis of the Income Statement for the past 4 years. Comment on any
trends.
The horizontal analysis on income statement of the company briefs that the operating revenue of
the company is enhancing currently but the level of other revenues is getting lower day by day. The
expenses position of the company briefs about various negative levels of the company as the
expenses level of the company is getting higher and due to it, the net profit of the company has been
-318%, -16.96%, 291.68% and 171.65% in last 4 years. The trend explains about worst condition of
the company in current year from last 4 years. It explains that the company is required to manage
the great performance.
Part 3 – Question 12 (Horizontal Analysis): (related content – topic 8)
Conduct a horizontal analysis of the Balance Sheet for the past 4 years. Comment on any trends.
The horizontal analysis on balance sheet of the company briefs that the total current assets of the
current year is getting lower due to changes in the cash and inventory of the company. On the other
hand, the level of total assets of the company has also been lowered. Further, the total liabilities of
the company are explaining about decreasing level of liabilities of the company from last 2 years. It
further explains about the various negative changes into the balance sheet of the company (Annual
Report, 2015).
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BU1002/BU1902 – (CNS/EXT/TSV) CASE STUDY WORKBOOK 2018
Part 3 – Question 13 (Vertical Analysis): (related content – topic 8)
Conduct a vertical analysis of the Income Statement for the past 4 years. Comment on any trends.
Vertical analysis on income statement of the company explains about the changes into the operating
expenses, EBITDA, EBIT, interest expenses etc of the company. It indicates that the operating
revenue of the company has been lowered from last year whereas the operating expenses of the
company has been enhanced due to which the net profit position of the company has been
hampered.
Part 3 – Question 14 (Vertical Analysis): (related content – topic 8)
Conduct a vertical analysis of the Balance Sheet for the past 4 years. Comment on any trends.
Vertical analysis on balance sheet of the company explains about the changes into the total current
assets, total assets, total noncurrent liabilities, total equity etc of the company. It indicates that the
various changes have occurred into the financial position of the company from last 4 years. Level of
total current assets has been enhanced whereas total current liabilities have been lower from last 4
years. It further explains about the few changes into the noncurrent liabilities and the equity of the
company.
Note: Horizontal and vertical analysis can be used as a point of reference to assist in identifying
percentage changes of individual items that appear in the financial statements. When conducting
ratio analysis, over a period of time, you may find it easier to not only identify the change in the
numerator and denominator of the formula, but to also use horizontal and vertical analysis to
identify the individual components that make up the numerator and denominator of the formula.
Part 3 – Question 15 (Trend Analysis): (related content – topic 8)
Conduct a trend analysis of Revenue and Net Profit after Tax and Abnormals in the Profit and Loss
Statement for the past 3 years. Comment on any trends.
The trend analysis on income statement of the company briefs that the revenue of the company has
been lowered currently and it has affected the entire functions of the company. The net profit after
tax and abnormal of the company briefs about various negative levels of the company as the net
profit of the company has been lowered by -1108.31% from last year. The trend explains about
worst condition of the company in current year from last 4 years.
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BU1002/BU1902 – (CNS/EXT/TSV) CASE STUDY WORKBOOK 2018
References:
Bloomberg. (2018). Orbital Corporation. Retrieved as on 2nd April 2018 from:
https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=325915.
Annual Report. (2018). Orbital Corporation. Retrieved as on 2nd April 2018 from:
https://www.orbitalcorp.com.au/asx_announcements/2017-annual-report/.
Annual report. (2016). Orbital Corporation. Retrieved as on 2nd April 2018 from:
https://www.orbitalcorp.com.au/wp-content/uploads/2018/02/orbital_annual_report_30_ju
ne_2016-2.pdf.
Annual Report. (2015). Orbital Corporation. Reterived as on 2nd April 2018 from:
https://www.orbitalcorp.com.au/wp-content/uploads/2018/02/orbital_annual_report_30_ju
ne_2015-2.pdf.
Annual Report. (2017). Orbital Corporation. Retrieved as on 2nd April 2018 from:
https://www.orbitalcorp.com.au/wp-content/uploads/2018/02/2017-Annual-Report.pdf.
Corporate Governance. (2018). Orbital Corporation. Retrieved as on 2nd April 2018 from:
http://phx.corporate-ir.net/phoenix.zhtml?c=81036&p=irol-govHighlights.
Home. (2018). Orbital Corporation. Retrieved as on 2nd April 2018 from:
https://www.orbitalcorp.com.au/.
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BU1002/BU1902 – (CNS/EXT/TSV) CASE STUDY WORKBOOK 2018
Appendix:
Ratio Calculations 2015 2016 2017
Profitability Ratios:
Return on Equity
Profit avail to owners /
-
47,29,00
0
12,15,00
0
-
1,22,51,0
00
Average Equity
2,
14,93,50
0
2,
66,05,00
0
2,
52,25,50
0
Answer: % -22.00% 4.57% -48.57%
Return on Assets:
Net profit (loss) /
-
47,29,00
0
12,15,00
0
-
1,22,51,0
00
Average total assets %
4,
26,05,00
0
4,
83,66,00
0
4,
28,51,00
0
Answer: -11.10% 2.51% -28.59%
Profit Margin
Net profit (loss) /
-
47,29,00
0
12,15,00
0
-
1,22,51,0
00
Sales Revenue (note used operating revenue)
95,54,00
0
1,16,32,0
00
1,42,55,0
00
Answer: % -49.50% 10.45% -85.94%
Gross Profit Margin
Gross profit /
11,49,00
0 6,87,000
-
60,55,00
0
Sales Revenue (note used operating revenue)
95,54,00
0
1,16,32,0
00
1,42,55,0
00
Answer: 0.12 0.06
-
0.42
Cash Flow to Sales Ratio
Cash Flow from Operating Activities/
-
33,82,00
0
-
50,81,00
0
-
48,53,00
0
Sales Revenue (note used operating revenue) %
95,54,00
0
1,16,32,0
00
1,42,55,0
00
Answer: -35.40% -43.68% -34.04%
Asset Efficiency Ratios
Asset Turnover Ratio
Sales Revenue / (note used operating revenue)
95,54,00
0
1,16,32,0
00
1,42,55,0
00
Average Total Assets
4,26,05,0
00
4,83,66,0
00
4,28,51,0
00
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BU1002/BU1902 – (CNS/EXT/TSV) CASE STUDY WORKBOOK 2018
Answer: 0.2242 0.2405 0.3327
Inventory Turnover (days)
Average Inventory /
18,59,00
0
23,19,00
0
37,64,00
0
Cost of Sales
#
day
s
95,54,00
0
1,16,32,0
00
1,42,55,0
00
Answer: (note the above needs to be x 365) 71.02 72.77 96.38
Inventory Turnover (times p.a)
Cost of Sales /
95,54,00
0
1,16,32,0
00
1,42,55,0
00
Average Inventory
time
s
p.a
18,59,00
0
23,19,00
0
37,64,00
0
Answer 5.14 5.02 3.79
Receivables Turnover (days)
Average trade debtors /
60,39,50
0
62,01,00
0
59,60,50
0
Sales revenue (note used operating revenue)
#
day
s
95,54,00
0
1,
16,32,00
0
1,
42,55,00
0
Answer: (note the above needs to be x 365) 230.73 194.58 152.62
Receivables Turnover (times p.a)
Sales Revenue / (note used operating revenue)
95,54,00
0
1,16,32,0
00
1,42,55,0
00
Average Trade Debtors
60,39,50
0
62,01,00
0
59,60,50
0
Answer
time
s
p.a 1.58 1.88 2.39
Liquidity Ratios
Current Ratio
Current Assets /
1,63,08,0
00.00
3,65,63,0
00.00
2,95,10,0
00.00
Current liabilities
79,81,00
0.00
96,07,00
0.00
96,18,00
0.00
Answer: 2.04 3.81 3.07
Quick Asset Ratio
Current Assets - Inventory /
1,59,18,0
00
3,23,15,0
00
2,62,30,0
00
Current Liabilities
79,81,00
0
96,07,00
0
96,18,00
0
Answer: 1.99 3.36 2.73
Cash Flow Ratio
Net Cash Flows form Operating Activities /
-
33,82,00
0
-
50,81,00
0
-
48,53,00
0
Current Liabilities 79,81,00 96,07,00 96,18,00
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BU1002/BU1902 – (CNS/EXT/TSV) CASE STUDY WORKBOOK 2018
0 0 0
Answer: -0.4238 -0.5289 -0.5046
Capital Structure Ratios
Debt to Equity ratio
total liabilities /
2,56,02,0
00
1,79,20,0
00
1,73,31,0
00
Total Equity
2,19,42,0
00
3,12,68,0
00
1,91,83,0
00
Answer: % 1.167 0.573 0.903
Debt Ratio (to assets)
Total Liabilities /
2,56,02,0
00
1,79,20,0
00
1,73,31,0
00
Total assets
4,75,44,0
00
4,91,88,0
00
3,65,14,0
00
Answer % 0.538 0.364 0.475
Equity Ratio
Total Equity /
2,19,42,0
00
3,12,68,0
00
1,91,83,0
00
Total Assets
4,75,44,0
00
4,91,88,0
00
3,65,14,0
00
Answer: % 0.462 0.636 0.525
Interest Coverage Ratio
EBIT /
6,45,000.
00
1,27,000.
00
-
66,34,00
0.00
Net Finance Costs (used net interest expense) 9,64,000
14,19,00
0 5,40,000
Answer:
time
s
p.a 0.669 0.089 -12.285
Debt Coverage Ratio
Non Current Liabilities /
1,76,21,0
00
83,13,00
0
77,13,00
0
Net Cash Flow from Operating Activities
-
33,82,00
0.00
-
50,81,00
0.00
-
48,53,00
0.00
Answer:
time
s
p.a -5.21 -1.64 -1.59
Horizontal analysis
Statement of Profit or Loss 06/17 06/16
22.55% 21.75%
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Operating Revenue
Other Revenue -69.96%
116.44
Total Revenue Excluding
Interest -23.35% 55.50%
Operating Expenses 6.04% 63.53%
EBITDA -981.37% -40.21%
Depreciation 133.47% 13.24%
Amortisation -100.00% 9.47%
Depreciation and Amortisation 3.39% 11.11%
EBIT
-
5323.62
% -80.31%
Interest Revenue -3.36% 12.26%
Interest Expense -61.95% 47.20%
Net Interest Expense -67.31% 51.52%
PreTax Profit 501.79%
450.70
Tax Expense -101.84%
216.07
Net Profit after Tax Before
Abnormals 171.65%
291.68
Abnormals -234.76%
Abnormals Tax
Net Abnormals -234.76%
Reported NPAT After
Abnormals
-
1108.31
%
125.69
Outside Equity Interests -4.72% 70.05%
Shares Outstanding at Period
End 2.60% 53.81%
Weighted Average Number of
Shares 36.68% 21.61%
EPS Adjusted (cents/share) 116.83%
292.23
EPS After Abnormals
(cents/share) -669.60%
127.77
Horizontal analysis
Balance Sheet 06/17 06/16 06/15
-31.12%
274.07
% 22.77%
9.95% -15.56% 25.56%
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BU1002/BU1902 – (CNS/EXT/TSV) CASE STUDY WORKBOOK 2018
CA - Receivables
CA - Prepaid
Expenses -32.93% 23.97% -33.25%
CA - Inventories -22.79%
989.23
% -88.28%
CA - Investments 83.68% 4.75% 2.09%
CA - NCA Held Sale
-
100.00
%
CA - Other
Total Current Assets -19.29%
124.20
% 2.95%
NCA - Receivables
NCA - Inventories
NCA - Investments
-
100.00
% 27.51%
NCA - PP&E -22.23% -14.79% -20.60%
NCA -
Intangibles(ExGW)
-
100.00
%
NCA - Goodwill -100.00% 0.00%
NCA - Future Tax
Benefit 0.46% -2.47% 12.40%
NCA - Other
Total NCA -44.52% -59.58% 43.11%
Total Assets -25.77% 3.46% 26.23%
CL - Account Payable 0.68% 43.10% 22.02%
CL - Short-Term Debt 19.94% 20.10% 14.59%
CL - Provisions -7.96% -2.47% 6.43%
CL - NCL Held Sale
CL - Other 0.00% 0.00% -80.92%
Total Curr. Liabilities 0.11% 20.37% 6.05%
NCL - Account
Payable
NCL - Long-Term
Debt -4.23% -54.46%
112.57
NCL - Provisions -24.23% -15.30% -13.55%
NCL - Other -42.94% -30.04% -23.10%
Total NCL -7.22% -52.82% 93.74%
Total Liabilities -3.29% -30.01% 54.03%
Share Capital 3.51% 50.10% 2.20%
-27.38% -58.42%
659.63
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BU1002/BU1902 – (CNS/EXT/TSV) CASE STUDY WORKBOOK 2018
Reserves
Retained Earnings
1235.57
% -61.32%
222.43
Other Equity
Convertible Equity
SE Held Sale
Outside Equity -27.99%
Total Equity -38.65% 42.50% 4.26%
Vertical Analysis
Statement of Profit or Loss 06/17
Operating Revenue 80.56%
Other Revenue 19.44%
Total Revenue Excluding Interest 100.00%
Operating Expenses -134.22%
EBITDA -34.22%
Depreciation -3.27%
Amortisation 0.00%
Depreciation and Amortisation -3.27%
EBIT -37.49%
Interest Revenue 0.65%
Interest Expense -3.05%
Net Interest Expense -2.40%
PreTax Profit -39.89%
Tax Expense 0.15%
Net Profit after Tax Before Abnormals -39.75%
Abnormals -29.49%
Abnormals Tax 0.00%
Net Abnormals -29.49%
Reported NPAT After Abnormals -69.23%
Vertical Analysis
Balance Sheet 06/17 06/16
CA - Cash 46.92% 50.57%
CA - Receivables 17.10% 11.54%
CA - Prepaid Expenses 0.61% 0.67%
CA - Inventories 8.98% 8.64%
CA - Investments 7.21% 2.92%
CA - NCA Held Sale 0.00% 0.00%
CA - Other 0.00% 0.00%
Total Current Assets 80.82% 74.33%
0.00% 0.00%
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BU1002/BU1902 – (CNS/EXT/TSV) CASE STUDY WORKBOOK 2018
NCA - Receivables
NCA - Inventories 0.00% 0.00%
NCA - Investments 0.00% 0.00%
NCA - PP&E 4.10% 3.91%
NCA - Intangibles(ExGW) 0.00% 0.00%
NCA - Goodwill 0.00% 10.61%
NCA - Future Tax Benefit 15.08% 11.14%
NCA - Other 0.00% 0.00%
Total NCA 19.18% 25.67%
Total Assets 100.00% 100.00% 100.00%
CL - Account Payable 37.49% 36.02%
CL - Short-Term Debt 4.96% 4.00%
CL - Provisions 11.74% 12.34%
CL - NCL Held Sale 0.00% 0.00%
CL - Other 1.30% 1.26%
Total Curr. Liabilities 55.50% 53.61%
NCL - Account Payable 0.00% 0.00%
NCL - Long-Term Debt 41.79% 42.20%
NCL - Provisions 0.99% 1.27%
NCL - Other 1.73% 2.92%
Total NCL 44.50% 46.39%
Total Liabilities 100.00% 100.00% 100.00%
Share Capital 162.15% 96.11%
Reserves 5.17% 4.37%
Retained Earnings -67.33% -3.09% -11.39%
Other Equity 0.00% 0.00%
Convertible Equity 0.00% 0.00%
SE Held Sale 0.00% 0.00%
Outside Equity 2.62%
Total Equity 100.00% 100.00% 100.00%
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