Financial Performance

Brickworks Limited and controlled entities

A.B.N. 17 000 028 526

FIVE YEAR SUMMARY

      2012   2013   2014   2015   2016   %
      $000   $000   $000   $000   $000   Growth
                           
Total revenue     556,911   606,509   670,268   723,611   750,985   4%
                           
Building Products revenue     547,590   568,654   636,895   700,871   748,128   7%
                           
Earnings before interest and tax (excl significant items)                          
Building products     28,538   32,802   45,081   56,364   75,381   34%
Property     16,438   49,206   61,013   61,735   72,105   17%
Waste management     2,571   413   1,414   2,649   1,346   (49%)
Investments     1,081   493   262   280   442   58%
Associates     66,619   59,509   44,382   54,574   59,117   8%
Head office and other expenses     (6,796)   (7,384)   (8,945)   (9,699)   (12,479)   (29%)
                           
Total EBIT (excl significant items)     108,451   135,039   143,207   165,903   195,912   18%
                           
Borrowing costs     (25,215)   (18,800)   (18,073)   (19,482)   (14,080)   28%
Income tax     (4,366)   (16,191)   (23,845)   (26,122)   (34,753)   (33%)
                           
Net profit after income tax (excl significant items)     78,870   100,048   101,289   120,299   147,079   22%
                           
Significant items                          
Washington H Soul Pattinson & Co.     756   (18,483)   4,973   (25,140)   129    
Write down of assets to recoverable value                          
- Property, plant & equipment     (4,169)   (8,608)   (2,581)   -   (14,523)    
- Building products inventory     (4,192)   -   -   -   -    
Costs related to JV and business acquisition     (1,947)   729   -   (577)   (206)    
Costs on closure of manufacturing factility and site relocation costs     (6,927)   (3,130)   (379)   -   (5,201)    
Costs on start up of manufacturing facilities     (4,147)   (593)   -   (4,333)   (1,025)    
Impairment of goodwill and timber access rights     (31,627)   -   -   (16,761)   (47,258)    
Legal and advisory costs - Perpetual matter     (1,273)   (465)   (2,841)   (1,504)   (2,828)    
Restructuring activites     -   (970)   (578)   (1,236)   (2,929)    
Other significant items     (2,612)   (2,040)   -   -   (315)    
Tax on significant items     7,580   5,424   1,914   2,822   8,109    
Tax benefit arising from WHSP carrying value     12,992   13,253   958   4,520   (2,842)    
                           
Total significant items     (35,566)   (14,883)   1,466   (42,209)   (68,889)    
                           
Net profit after income tax (incl significant items)     43,304   85,165   102,755   78,090   78,190   0%
                           
                           
Basic earnings per share (cents)     29.3   57.6   69.4   52.6   52.6   (0%)
                           
Underlying earnings per share (cents)     53.4   67.7   68.4   81.1   98.9   22%
                           
Dividends                          
Total dividends per share (cents)     40.5   40.5   42.0   45.0   48.0    
                           
Ratios                          
Net tangible assets per share     $9.44   $9.82   $10.32   $10.59   $10.96   3%
                           
Return on shareholders equity     2.6%   5.0%   5.7%   4.3%   4.3%   (1%)
                           
Underlying return on shareholders equity     4.7%   5.8%   5.6%   6.6%   8.0%   21%
                           
Interest cover ratio     5.2   6.6   7.3   9.7   14.4   48%
                           
Net debt to capital employed     14.7%   15.7%   14.5%   14.2%   12.8%   (10%)