Investor Presentaiton
Small decline in Free Cash Flow with growth in underlying EBITDA and lower cash
tax offset by higher capex
Key drivers of Free Cash Flow (FCF)(1)
$1,081m
$33m
$4m
$21m
$1m
$2m
$63m
.
$1,070m
FY22 FCF
Underlying
EBITDA
Equity
Income and
Tax Paid
Interest
paid (net)
Working
capital
and other
SIB Capex FY23 FCF
•
Higher underlying EBITDA
Reduced distributions from investments, mainly SEAGas, due to lower contracted
revenues and pending refinancing
Lower cash tax due to accelerated depreciation allowance on new projects
through to 30 June 2023
Working capital and other change due to general movements period over period
Stay in Business (SIB) capex higher than last year with increased spend on:
Pipeline reliability, integrity and cathodic protection works, especially
on the Moomba - Sydney, Roma - Brisbane and Goldfields Gas
Pipelines;
Moomba facility upgrade works on SWQP;
National customer systems.
distributions
(net)
(1) Free Cash Flow (FCF) is Operating Cash Flow adjusted for strategically significant transformation projects, less stay-in-business (SIB) capex. SIB capex includes operational assets lifecycle replacement costs and technology lifecycle costs. FCF supports APA's operations and the
maintenance of capital assets.
apa
APA FY23 Results Investor Presentation
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