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Financial Highlights

 2015201420132012
Consolidated Income Statement
(US$’000)
Revenue6,510,0517,619,3096,584,9626,051,748
Gross profit1,139,5751,311,0061,363,3071,610,795
EBITDA(1)541,664565,891661,359785,339
Core net profit(2)221,406221,320318,352404,274
Net profit attributable to owners of the Company(16,718)113,553311,286409,641
Weighted average number of shares (million shares)12,76012,83812,83812,430
Core net profit(2) per share (US$ cents)1.741.722.483.25
Earnings per share (US$ cents)(0.13)0.882.423.30

Consolidated Statement of Financial Position
(US$ ‘000)
Total assets14,595,58914,666,62114,148,20413,286,134
Total current assets2,614,0602,794,3742,538,5262,421,811
Total current liabilities2,328,5982,500,5661,884,1101,302,206
Total non-current liabilities3,518,8253,347,7343,460,7213,365,724
Non-controlling interests88,47389,81882,81891,575
Equity attributable to owners of the Company8,659,6938,728,5038,720,5558,526,629

Ratios
Gross profit margin 17.5%17.2%20.7%26.6%
EBITDA(1) margin8.3%7.4%10.0%13.0%
Core net profit(2) margin3.4%2.9%4.8%6.7%
Net profit(3) margin(0.3%)1.5%4.7%6.8%
Return on equity(4)2.6%2.5%3.7%4.7%
Return on assets(5)1.5%1.5%2.3%3.0%
Current ratio (times)1.121.121.351.86
Adjusted net debt to equity(6) (times)0.220.190.130.07
Receivable turnover(7) (days)28242419
Inventory turnover(8) (days)54475665

Other Information
Average CPO market price – FOB Belawan (US$ per tonne)574768797959

Remarks :

  1. EBITDA = earnings before tax, non-controlling interests, interest on borrowings, depreciation and amortisation, changes in fair value of biological assets, foreign exchange gain or loss and exceptional items. The comparative EBITDA for 2014, 2013 and 2012 have been recalculated to include share of results of associated companies and joint ventures, net of tax to conform with current year’s presentation
  2. Core net profit = net profit attributable to owners of the Company before accounting for the effect of net gain or loss from changes in fair value of biological assets, foreign exchange gain or loss and exceptional items (net of non-controlling interests)
  3. Net profit/(loss) = net profit/(loss) attributable to owners of the Company
  4. Return on equity = core net profit attributable to owners of the Company / equity attributable to owners of the Company
  5. Return on assets = core net profit attributable to owners of the Company / total assets
  6. Adjusted net debt to equity = (total borrowings – cash and cash equivalents – short-term investments – liquid working capital) / equity attributable to owners of the Company
  7. Receivable turnover = average trade receivables / revenue * 365
  8. Inventory turnover = average inventory / cost of sales * 365