Investor Presentaiton
Reconciliation of underlying to statutory results
Downer
Amortisation of
Reconciliation of underlying to statutory
results ($m)
EBITA¹
Net interest
expense
Tax expense²
NPATA¹
acquired
intangibles
(post-tax)
NPAT
Underlying³ results
323.4
(88.0)
(61.2)
174.2
(18.4)
155.8
Fair value on Downer Contingent Share Options
(DCSO)4
10.0
10.0
10.0
Divestments and exit costs
20.8
(18.6)
2.2
2.2
Portfolio restructure costs
(25.4)
7.6
(17.8)
(17.8)
Regulatory reviews and shareholder class action
related costs
(6.5)
1.9
(4.6)
(4.6)
Impairment and other asset write-downs
(549.6)
18.3
(531.3)
(531.3)
Total items outside underlying result
Statutory results
(550.7)
9.2
(541.5)
(541.5)
(227.3)
(88.0)
(52.0)
(367.3)
(18.4)
(385.7)
1 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)
2 Tax of $61.2m is calculated by adjusting underlying tax of $53.4m with $7.8m tax on amortisation of acquired intangible assets
3 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
4 The fair value of the Downer Contingent Share Options (DCSO) have decreased primarily driven by the movement in Downer's share price from $5.05 at 30 June 2022 to $4.11 at 30 June 2023
Downer FY23 Results | 32View entire presentation