APA Group (APA) 2003年年度报告「ASX」.pdf

1、Annual Report 2003AustralianPipeline TrustARSN 091 678 778 AUSTRALIAN PIPELINE TRUST ANNUAL FINANCIAL REPORT 2002-2003“Our goal is clear Australian Pipeline Trustwill continue to berecognised as the leadingtransporter of natural gasin Australia while at thesame time exploringfurther ventures that ha

2、vethe potential to provide asound return to ourunitholders.”Jim McDonald,Managing DirectorAustralian Pipeline LimitedcontentsCorporate Highlights1Chairmans Report2Managing Directors Report4Key Issues6The Management Team8Glossary of Terms,Directory and Financial Calendar56Annual Financial Report 2003

3、Corporate Governance9Directors Report13Statement of Financial Performance22Statement of Financial Position23Statement of Cash Flows24Notes to the Financial Statements 25Directors Declaration52Independent Audit Report53Additional Stock Exchange Information54Unitholder Information55Photos:1.Road West

4、of Alice Springs,NT.2.Murrumbidgee River,Wagga Wagga,NSW.3.CanolaCrop Fields,Young,ACT.Year endedYear endedYear endedCategory30 June 200330 June 200230 June 2001$m$m$mPipeline Revenue189.2180.4173.8Other Pipeline Revenue68.061.161.5Other Revenue14.713.914.0Total Revenue271.9 255.4 249.3EBITDA137.813

5、2.2127.5EBIT113.7105.9103.6Pre-tax Profit65.159.153.3Income Tax Expense(23.8)(21.7)(22.3)Operating Profit after Tax and Minorities41.037.130.7Earnings per Unit16.8c15.2c12.6cNet Tangible Asset Backing per Unit(after capital distributions)$1.79$1.76$1.82Operating Cash Flow per Unit excluding interest

6、 56.4c53.2c59.1cInterest Cover Ratio2.42.42.1Gearing Ratio(%)63.363.461.9Key operating achievementsGConstruction of looping stage 6 on the Roma to BrisbanePipeline(Qld)to satisfy growing customer demandcommissioned in October 2002.GAgreeing to innovative interruptible and firm haulagecontracts with