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Qantas Airways Ltd
Forecast Financial Statements
2012
Revenues Revenue Growth
Passenger 4% 12,494.0
Freight 2% 784.0
Tours & Travel -
Contract Work Revenue -
Other 4% 2,446.0
Total Revenue 15,724.0
Expenses % Revenues
Manpower 24.0% 3,774.0
Selling & Marketing 4.0% 635.0
Aircraft - Variable 18.5% 2,980.0
Fuel & Oil 26.0% 4,220.0
Property 2.5% 429.0
Computer & Communication 3.0% 437.0
Depreciation & Amortisation 9.0% 1,384.0
Non Cancellable Operating Leases 3.5% 549.0
Tour & Travel 0.0% -
Capacity Hire, Insurance & Other 0.0% -
Insurance & Other 5.0% 1,061.0
Ineffective Hedges - Open 165.0
Ineffective Hedges - Closed -
Capacity Hire 2.0% 266.0
97.5% 15,900.0
Net Operating Profit From Ordinary Activities (176.0)
Inter-Company investment Profits 2.0
Unusual Items -
Net Operating Profit Before Tax (174.0)
Tax on Operating Profit 30% (52.2)
Net Operating Profit After Tax (121.8)
Interest Expense
Net Expense 3% 176.0
Tax Shelter (52.8)
Business Analysis and Valuation Asia Pacific 2nd Edition Palepu Solutions Manual
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Interest Expense After Tax 123.2
Net Profit (245.0)
Operating Assets and Liabilities
Current Assets
Cash 3,398.0
Receivables 1,111.0
Inventories 376.0
Held for Sale 73.0
Other 414.0
Total Current Assets 0.36 5,372.0
Current Liabilities
Accounts Payable 1,876.0
Provisions 570.0
Current Tax -
Revenue in Advance 3,172.0
Deferred Lease Benefits -
Other 12.0
Total Current Liaibilities 0.35 5,630.0
Net Current Assets (258.0)
Non Current Assets
Property Plant & Equipment 1.00 14,139.0
Receivables 472.0
Investments 457.0
Intvestments Other -
Intangibles 610.0
Future Income Tax -
Other 23.0
0.10 1,562.0
Total Non Current Assets 15,701.0
Non Current Liabilities
Provisions 737.0
Deferred Tax 644.0
Deferred Lease Benefits -
Revenue in Advance 1,136.0
Other -
0.16 2,517.0
Net Operating Assets 12,926.0
Financing Activities
Net Receivables under Swaps - Current Assets (88.0)
Net Receivables under Swaps - Non Current Assets (17.0)
Net Payables under Hedges - Current Liabilities 369.0
Net Payables under Hedges - Non Current Liabilities 224.0
Borrowings - Current 1,119.0
Borrowings - Non Current 5,430.0
Net Financial Obligations 7,037.0
Net Assets 5,889.0
Equity
PUC 4,687.0
New PUC
Reserves 36.0
Retained Profit 1,162.0
Current Profit
Dividend 25%
Minority Interests 4.0
Total Shareholders Funds 5,889.0
Opening CSE 6,151.0
Clean Surplus Profit (256.0)
Dividends (6.0)
Closing CSE 5,889.0
Leverage 1.19
2013 2014 2015 2016 2017
12,993.8 13,513.5 14,054.1 14,616.2 15,200.9
799.7 815.7 832.0 848.6 865.6
- - - - -
- - - - -
2,543.8 2,645.6 2,751.4 2,861.5 2,975.9
16,337.3 16,974.8 17,637.5 18,326.3 19,042.4
3,920.9 4,073.9 4,233.0 4,398.3 4,570.2 0.240
653.5 679.0 705.5 733.1 761.7 0.040
3,022.4 3,140.3 3,262.9 3,390.4 3,522.8 0.190
4,247.7 4,413.4 4,585.7 4,764.8 4,951.0 0.268
408.4 424.4 440.9 458.2 476.1 0.027
490.1 509.2 529.1 549.8 571.3 0.028
1,470.4 1,527.7 1,587.4 1,649.4 1,713.8 0.088
571.8 594.1 617.3 641.4 666.5 0.035
- - - - - 0.000
- - - - - 0.000
816.9 848.7 881.9 916.3 952.1 0.067
0.010
326.7 339.5 352.7 366.5 380.8
15,928.8 16,550.4 17,196.5 17,868.2 18,566.3
408.4 424.4 440.9 458.2 476.1
2.0 2.0 2.0 2.0 2.0
0 0 0 0 0
410.4 426.4 442.9 460.2 478.1
123.1 127.9 132.9 138.0 143.4
287.3 298.5 310.1 322.1 334.6
211.1 285.8 301.8 318.4 335.8
(63.3) (85.7) (90.5) (95.5) (100.7)
147.8 200.1 211.2 222.9 235.1
139.5 98.4 98.8 99.2 99.6
5,881.4 6,110.9 6,349.5 6,597.5 6,855.3
5,718.0 5,941.2 6,173.1 6,414.2 6,664.8
163.4 169.7 176.4 183.3 190.4
16,337.3 16,974.8 17,637.5 18,326.3 19,042.4
1,633.7 1,697.5 1,763.7 1,832.6 1,904.2
17,971.0 18,672.3 19,401.2 20,158.9 20,946.6
2,614.0 2,716.0 2,822.0 2,932.2 3,046.8
15,520.4 16,126.0 16,755.6 17,410.0 18,090.3
9,526.8 10,058.6 10,614.0 11,194.0 11,799.6
5,993.6 6,067.4 6,141.6 6,216.0 6,290.6
4,687.0 4,687.0 4,687.0 4,687.0 4,687.0
36.0 36.0 36.0 36.0 36.0
1,162.0 1,266.6 1,340.4 1,414.6 1,489.0
139.5 98.4 98.8 99.2 99.6
(34.9) (24.6) (24.7) (24.8) (24.9)
4.0 4.0 4.0 4.0 4.0
5,993.6 6,067.4 6,141.6 6,216.0 6,290.6
5,889.0 5,993.6 6,067.4 6,141.6 6,216.0
139.5 98.4 98.8 99.2 99.6
(34.9) (24.6) (24.7) (24.8) (24.9)
5,993.6 6,067.4 6,141.6 6,216.0 6,290.6
1.59 1.66 1.73 1.80 1.88
Business Analysis and Valuation Asia Pacific 2nd Edition Palepu Solutions Manual
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Business Analysis and Valuation Asia Pacific 2nd Edition Palepu Solutions Manual

  • 1. Qantas Airways Ltd Forecast Financial Statements 2012 Revenues Revenue Growth Passenger 4% 12,494.0 Freight 2% 784.0 Tours & Travel - Contract Work Revenue - Other 4% 2,446.0 Total Revenue 15,724.0 Expenses % Revenues Manpower 24.0% 3,774.0 Selling & Marketing 4.0% 635.0 Aircraft - Variable 18.5% 2,980.0 Fuel & Oil 26.0% 4,220.0 Property 2.5% 429.0 Computer & Communication 3.0% 437.0 Depreciation & Amortisation 9.0% 1,384.0 Non Cancellable Operating Leases 3.5% 549.0 Tour & Travel 0.0% - Capacity Hire, Insurance & Other 0.0% - Insurance & Other 5.0% 1,061.0 Ineffective Hedges - Open 165.0 Ineffective Hedges - Closed - Capacity Hire 2.0% 266.0 97.5% 15,900.0 Net Operating Profit From Ordinary Activities (176.0) Inter-Company investment Profits 2.0 Unusual Items - Net Operating Profit Before Tax (174.0) Tax on Operating Profit 30% (52.2) Net Operating Profit After Tax (121.8) Interest Expense Net Expense 3% 176.0 Tax Shelter (52.8) Business Analysis and Valuation Asia Pacific 2nd Edition Palepu Solutions Manual Full Download: https://alibabadownload.com/product/business-analysis-and-valuation-asia-pacific-2nd-edition-palepu-solution This sample only, Download all chapters at: AlibabaDownload.com
  • 2. Interest Expense After Tax 123.2 Net Profit (245.0) Operating Assets and Liabilities Current Assets Cash 3,398.0 Receivables 1,111.0 Inventories 376.0 Held for Sale 73.0 Other 414.0 Total Current Assets 0.36 5,372.0 Current Liabilities Accounts Payable 1,876.0 Provisions 570.0 Current Tax - Revenue in Advance 3,172.0 Deferred Lease Benefits - Other 12.0 Total Current Liaibilities 0.35 5,630.0 Net Current Assets (258.0) Non Current Assets Property Plant & Equipment 1.00 14,139.0 Receivables 472.0 Investments 457.0 Intvestments Other - Intangibles 610.0 Future Income Tax - Other 23.0 0.10 1,562.0 Total Non Current Assets 15,701.0 Non Current Liabilities Provisions 737.0 Deferred Tax 644.0 Deferred Lease Benefits - Revenue in Advance 1,136.0 Other - 0.16 2,517.0 Net Operating Assets 12,926.0 Financing Activities Net Receivables under Swaps - Current Assets (88.0)
  • 3. Net Receivables under Swaps - Non Current Assets (17.0) Net Payables under Hedges - Current Liabilities 369.0 Net Payables under Hedges - Non Current Liabilities 224.0 Borrowings - Current 1,119.0 Borrowings - Non Current 5,430.0 Net Financial Obligations 7,037.0 Net Assets 5,889.0 Equity PUC 4,687.0 New PUC Reserves 36.0 Retained Profit 1,162.0 Current Profit Dividend 25% Minority Interests 4.0 Total Shareholders Funds 5,889.0 Opening CSE 6,151.0 Clean Surplus Profit (256.0) Dividends (6.0) Closing CSE 5,889.0 Leverage 1.19
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  • 52. 2013 2014 2015 2016 2017 12,993.8 13,513.5 14,054.1 14,616.2 15,200.9 799.7 815.7 832.0 848.6 865.6 - - - - - - - - - - 2,543.8 2,645.6 2,751.4 2,861.5 2,975.9 16,337.3 16,974.8 17,637.5 18,326.3 19,042.4 3,920.9 4,073.9 4,233.0 4,398.3 4,570.2 0.240 653.5 679.0 705.5 733.1 761.7 0.040 3,022.4 3,140.3 3,262.9 3,390.4 3,522.8 0.190 4,247.7 4,413.4 4,585.7 4,764.8 4,951.0 0.268 408.4 424.4 440.9 458.2 476.1 0.027 490.1 509.2 529.1 549.8 571.3 0.028 1,470.4 1,527.7 1,587.4 1,649.4 1,713.8 0.088 571.8 594.1 617.3 641.4 666.5 0.035 - - - - - 0.000 - - - - - 0.000 816.9 848.7 881.9 916.3 952.1 0.067 0.010 326.7 339.5 352.7 366.5 380.8 15,928.8 16,550.4 17,196.5 17,868.2 18,566.3 408.4 424.4 440.9 458.2 476.1 2.0 2.0 2.0 2.0 2.0 0 0 0 0 0 410.4 426.4 442.9 460.2 478.1 123.1 127.9 132.9 138.0 143.4 287.3 298.5 310.1 322.1 334.6 211.1 285.8 301.8 318.4 335.8 (63.3) (85.7) (90.5) (95.5) (100.7)
  • 53. 147.8 200.1 211.2 222.9 235.1 139.5 98.4 98.8 99.2 99.6 5,881.4 6,110.9 6,349.5 6,597.5 6,855.3 5,718.0 5,941.2 6,173.1 6,414.2 6,664.8 163.4 169.7 176.4 183.3 190.4 16,337.3 16,974.8 17,637.5 18,326.3 19,042.4 1,633.7 1,697.5 1,763.7 1,832.6 1,904.2 17,971.0 18,672.3 19,401.2 20,158.9 20,946.6 2,614.0 2,716.0 2,822.0 2,932.2 3,046.8 15,520.4 16,126.0 16,755.6 17,410.0 18,090.3
  • 54. 9,526.8 10,058.6 10,614.0 11,194.0 11,799.6 5,993.6 6,067.4 6,141.6 6,216.0 6,290.6 4,687.0 4,687.0 4,687.0 4,687.0 4,687.0 36.0 36.0 36.0 36.0 36.0 1,162.0 1,266.6 1,340.4 1,414.6 1,489.0 139.5 98.4 98.8 99.2 99.6 (34.9) (24.6) (24.7) (24.8) (24.9) 4.0 4.0 4.0 4.0 4.0 5,993.6 6,067.4 6,141.6 6,216.0 6,290.6 5,889.0 5,993.6 6,067.4 6,141.6 6,216.0 139.5 98.4 98.8 99.2 99.6 (34.9) (24.6) (24.7) (24.8) (24.9) 5,993.6 6,067.4 6,141.6 6,216.0 6,290.6 1.59 1.66 1.73 1.80 1.88
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  • 153. Business Analysis and Valuation Asia Pacific 2nd Edition Palepu Solutions Manual Full Download: https://alibabadownload.com/product/business-analysis-and-valuation-asia-pacific-2nd-edition-palepu-solution This sample only, Download all chapters at: AlibabaDownload.com