Morgans Queensland Conference
2018 Full-Year Balance Sheet
Cardno®
FY2016
FY2017
FY2018
1.
$'000's
$'000's
$'000's
Cash and cash equivalents
Trade and other receivables
Inventories
Other current assets
Total current assets
PPE
Intangible assets
105,613
80,028
71,127
191,053
218,749
212,158
Continued focus on WIP conversion to debtors then
debtors collection, has resulted in a decrease in WIP
and trade and other receivables.
115,305
96,882
73,773
26,328
13,696
15,066
2.
438,299
409,355
372,124
Small strategic bolt on acquisitions during the year
resulting in increase in intangible assets.
47,310
322,604
35,593
295,873
Deferred tax assets
118,580
142,127
Other financial assets
3,770
1,323
49,336
313,017
102,333 3
236
2
3.
Decrease in deferred tax assets a result of the
reduction in the US federal corporate income tax rate
from 35% to 21%.
Total non-current assets
492,264
474,916
464,922
4.
Total assets
930,563
884,271
837,046
Decrease in payables reflects timing of significant
creditor payments.
Trade and other payables
125,115
144,327
120,840 4
Loans and borrowings
2,795
615
2,165
5.
Other current liabilities
87,279
87,117
80,786
Business is in compliance with all covenants with
significant head room.
Total current liabilities
215,189
232,059
203,791
Trade and other payables
3,015
Loans and borrowings
152,425
94,708
88,900
Other non-current liabilities
5,852
12,227
8,132
Non-current liabilities
Total liabilities
Net assets
Net Debt/EBITDA (lending covenant <= 3.0x)
Interest Cover Ratio* (lending covenant >= 3.0x)
Net Asset Value (lending covenant >= $446.7M)
29 Cardno: Morgans Queensland Conference
158,277
106,935
100,047
373,466
338,994
303,838
557,097
545,277
533,208
1.5x
3.5X
557,097
0.4x
5.6x
545,277
5
0.3x
16.3x
* Interest Cover Ratio is the ratio of EBITDA to Net Interest Expense for the
prior 12 months.
533,208View entire presentation