Investor Presentaiton
Group underlying financial performance
Downer
Group Underlying performance
($m)
FY23
FY222
Change
Underlying segment performance
($m)
FY23
FY222 Change
Total revenue³
12,619.7 11,970.4
5.4%
Transport
288.9
269.4
7.2%
EBITDA
Depreciation and amortisation
633.4
(310.0)
689.9
(307.4)
(8.2%)
Utilities
(10.3)
59.9 (>100%)
(0.8%)
Facilities
162.1
162.1
EBITA4
323.4
Amortisation of acquired intangibles
(26.2)
(34.8)
382.5 (15.5%)
24.7%
Urban Services Businesses
440.7
491.4
(10.3%)
Mining
8.1
(100%)
EBIT
297.2
347.7 (14.5%)
Hospitality
(16.5)
100%
Net interest expense
(88.0)
(85.4) (3.0%)
Non-core businesses
(8.4)
100%
Profit before tax
209.2
262.3 (20.2%)
Corporate
(117.3)
(100.5)
(16.7%)
Tax expense
(53.4)
(73.0)
26.8%
Underlying EBITA4
323.4
382.5
(15.5%)
Net profit after tax
155.8
189.3
NPATA4
174.2
213.7
EBITA margin
2.6%
Effective tax rate
ROFE
Dividend declared (cps)
25.5%
10.1%
13.0
(17.7%)
(18.5%)
3.2% (0.6pp)
27.8% (2.3pp)
10.8% (0.7pp)
Items outside of underlying EBITA
Statutory EBITA (loss)/profit4
Underlying NPATA4
Statutory NPAT (loss)/profit
(550.7)
(41.2)
(>100%)
(227.3)
341.3 (>100%)
174.2
213.7 (18.5%)
(385.7)
140.4
(>100%)
24.0
(11.0)
1 The underlying result is a non-IFRS measure that is used by Management to assess the performance of the business. Non-IFRS measures have not been subject to audit or review. Refer slide 32 for reconciliation to statutory results
2 FY22 results have been restated to reflect the impact of historical misreporting of revenue and contract assets in one of Downer's maintenance contracts in its Australian Utilities business ($16.7m, $11.6m after-tax)
3 Total revenue is a non-statutory disclosure and includes revenue from joint ventures, other alliances and other income
4 Downer calculates EBITA and NPATA by adjusting EBIT and NPAT to add back acquired intangible assets amortisation expense. Group FY23: $26.2m, $18.4m after-tax. (FY22: $34.8m, $24.4m after-tax)
Downer FY23 Results | 30View entire presentation