AUL FY21 Investor Presentation
Gearing Ratio
Gearing analysis and interest
cover
180 Australian
YEARS
Unity
Real Wellbeing
Covenant gearing ratio¹
60%
600
10.0
9.0
50%
500
8.0
40%
400
30%
300
20%
200
10%
0%
H
Debt Capacity ($m)
7.0
6.0
5.0
4.0
3.0
2.0
100
1.0
0
0.0
Dec 16
Jun 17
Dec 17
Jun 18
Bonds Covenant maximum (LHS)
Ratios at 30 June 2021
Dec 18
Jun 19
Debt Capacity to covenant limit ($m) (RHS)
Bonds Gearing Ratio (LHS)
Dec-19
Jun-20
Dec-20
Jun-21
Jun-16
Dec-16
Interest cover ratio 1,2
Jun-17
Dec-17
Jun-18
Interest cover ratio
- Interest cover ratio (excluding AASB16 impact)
Dec-18
Jun-19
Dec-19
Jun-20
Dec-20
Jun-21
.
Covenant gearing ratio 29% based on covenant gearing calculations. The AUL MCI issuance contributes
towards equity in the calculation, increasing debt capacity under the covenant.
Interest cover ratio 3.18 times, including the impact of AASB16 Leasing. Excluding the impact of AASB16 the
interest cover ratio is 4.84 times.
AUL FY21 Investor presentation
1 Comparative information for June 2020 has been restated following adjustments made to prior year financial statements.
2 Interest cover ratio is not a debt covenant and is included for illustrative purposes, the value is calculated on a rolling 12-month basis. 15View entire presentation