Navitas Limited, Income Statement

All numbers are in million AUD, unless and other wise stated.
Parameters
Net Sales or Revenues
Cost of Goods Sold
Gross Income
Depreciation, Depletion & Amortization
Selling, General & Admin Expenses
Other Operating Expense
Operating Expenses - Total
Earnings Before Interest And Taxes (EBIT)
Interest Expense On Debt
Pretax Income
IncomeTaxes
Minority Interest
Equity In Earnings
Net Income Before Extra Items/Preferred Di
Extr Items & Gain(Loss) Sale of Assets
Net Income Before Preferred Dividends
Preferred Dividend Requirements
Net Income Available to Common

FY-14
878.2
878.2
25.3
731.0
30.4
786.8
91.4
8.5
82.9
32.1
(0.8)
51.6
51.6
51.6

FY-13
731.7
140.4
591.3
16.4
459.3
(0.2)
475.5
115.8
9.8
106.1
31.0
0.5
74.6
74.6
74.6

Sources: All financial informations are taken from Navitas Annual Report

FY-12
688.1
132.8
555.3
15.1
428.8
(0.6)
443.2
112.1
8.0
104.1
30.5
0.5
###
73.1
###
73.1
###
73.1

FY-11
641.8
641.8
11.0
519.2
2.8
533.0
108.8
3.6
105.2
28.0
(0.2)
77.4
77.4
77.4

Navitas Limited, Income Statement (Common Size)

Parameters
Net Sales or Revenues
Cost of Goods Sold
Gross Income
Depreciation, Depletion & Amortization
Selling, General & Admin Expenses
Other Operating Expense
Operating Expenses - Total
Earnings Before Interest And Taxes (EBIT)
Interest Expense On Debt
Pretax Income
IncomeTaxes
Minority Interest
Equity In Earnings
Net Income Before Extra Items/Preferred Div
Extr Items & Gain(Loss) Sale of Assets
Net Income Before Preferred Dividends
Preferred Dividend Requirements
Net Income Available to Common

FY-14 FY-13 FY-12 FY-11

100.0% 100.0% 100.0% 100.0%
0.0% 19.2% 19.3%
0.0%
100.0% 80.8% 80.7% 100.0%
2.9%
2.2%
2.2%
1.7%
83.2% 62.8% 62.3% 80.9%
3.5%
0.0% -0.1%
0.4%
89.6% 65.0% 64.4% 83.0%
10.4% 15.8% 16.3% 17.0%
1.0%
1.3%
1.2%
0.6%
9.4% 14.5% 15.1% 16.4%
3.7%
4.2%
4.4%
4.4%
-0.1%
0.1%
0.1%
0.0%
0.0%
0.0%
0.0%
0.0%
5.9% 10.2% 10.6% 12.1%
0.0%
0.0%
0.0%
0.0%
5.9% 10.2% 10.6% 12.1%
0.0%
0.0%
0.0%
0.0%
5.9% 10.2% 10.6% 12.1%

Navitas Limited, Balance Sheet

All numbers are in million AUD, unless and other wise stated.
ASSETS
Current Assets
Cash And ST Investments
Receivables (Net)
Total Inventories
Other Current Assets
Current Assets - Total
Non-Current Assets
Property Plant & Equipment - Net
Deferred Tax Assets
Intangible Assets
Total Non-Current Assets
Total Assets

FY-14

FY-13

FY-12

FY-11

71.9
111.8
18.5
202.2

56.3
96.2
18.3
170.9

19.2
87.6
14.8
121.6

36.3
72.6

74.4
34.6
420.2
529.1
731.3

73.7
28.3
449.2
551.2
722.1

66.1
16.9
438.3
521.2
642.8

61.4
17.9
448.7
528.0
653.8

102.6
258.4
12.6
8.5
382.2

81.9
222.7
14.1
7.3
326.1

72.7
179.9
4.1
6.1
262.8

84.6
169.5
5.6
6.5
266.2

137.5
137.5
519.6

160.3
160.3
486.3

146.4
146.4
409.2

148.4
148.4
414.6

Shareholders' Equity
Minority Interest
Cashflow Hedge reserve
Common Equity
Foreign Currency Translation Reserve
Retained Earnings
Total Shareholders' Equity

(2.9)
(1.6)
197.9
0.4
18.0
211.7

(1.4)
195.4
1.8
40.0
235.7

(0.9)
195.2
1.3
38.0
233.6

(1.5)
###
194.9
0.7
45.1
239.2

Total Liabilities & Shareholders' Equity

Check

731.3
1

722.1
1

642.8
1

653.8
1

LIABILITIES & SHAREHOLDERS' EQUITY

Current Liabilities
Accounts Payable
Deferred Revenue
Income Taxes Payable
Other Current Liabilities
Current Liabilities - Total
Non-Current Liabilities
Long Term Debt
Total Non-Current Liabilites
Total Liabilities

###
16.9
125.8

Navitas Limited, Balance Sheet, CommonSize

ASSETS
Current Assets
Cash And ST Investments
Receivables (Net)
Total Inventories
Other Current Assets
Current Assets - Total
Non-Current Assets
Property Plant & Equipment - Net
Deferred Tax Assets
Intangible Assets
Total Non-Current Assets
Total Assets

FY-14

FY-13

FY-12

FY-11

9.8%
15.3%
2.5%
27.7%

7.8%
13.3%
2.5%
23.7%

3.0%
13.6%
2.3%
18.9%

10.2% 10.2%
4.7%
3.9%
57.5% 62.2%
72.3% 76.3%
100.0% 100.0%

10.3%
2.6%
68.2%
81.1%
100.0%

5.6%
11.1%
2.6%
19.2%
0.0%
9.4%
2.7%
68.6%
80.8%
100.0%

19.7%
49.7%
2.4%
1.6%
73.5%

LIABILITIES & SHAREHOLDERS' EQUITY

Current Liabilities
Accounts Payable
Deferred Revenue
Income Taxes Payable
Other Current Liabilities
Current Liabilities - Total
Non-Current Liabilities
Long Term Debt
Total Non-Current Liabilites
Total Liabilities

16.8%
45.8%
2.9%
1.5%
67.0%

17.8%
44.0%
1.0%
1.5%
64.2%

20.4%
40.9%
1.4%
1.6%
64.2%

26.5% 33.0%
26.5% 33.0%
100.0% 100.0%

35.8%
35.8%
100.0%

35.8%
35.8%
100.0%

Shareholders' Equity
Common Equity
Foreign Currency Translation Reserve
Retained Earnings
Total Shareholders' Equity

93.5% 82.9%
0.2%
0.8%
8.5%
17.0%
100.0% 100.0%

83.6%
0.6%
16.3%
100.0%

81.5%
0.3%
18.9%
100.0%

Naviatas Limited, Financial Ratios

PROFITABILTY RATIOS
Return On Assets
Return on Equity
Gross Profit Margin
Operating Profit Margin
Pretax Margin
Net Margin

FY-14
7%
24%
100%
10%
9%
6%

FY-13
10%
32%
81%
16%
14%
10%

FY-12
11%
31%
81%
16%
15%
11%

FY-11
12%
32%
100%
17%
16%
12%

FY-14
1.20
8.56
7.85
46.48
42.65

FY-13
1.01
8.94
7.60
48.00
40.85

FY-12
1.07
9.46
7.85
46.47
38.57

FY-11
0.98
7.59
8.84
41.28
48.09

LEVERAGE RATIOS
Total Debt to Common Equity
LT Debt to Common Equity
Total Debt to Total Assets
Common Equity to Total Assets
Interest Coverage Ratio
Financial Leverage

FY-14

FY-13

FY-12

FY-11

2.45

2.06

1.75

1.73

0.65

0.68

0.63

0.62

0.71

0.67

0.64

0.63

ASSET UTILIZATION RATI

Asset Turnover
Payable Turnover
Receivable Turnover
Days of sales of
outstanding
Number of days payables

0.29

0.33

0.36

0.37

10.77

11.86

14.04

30.15

5.32

4.51

4.39

4.40

LIQUIDITY RATIOS
Quick Ratio
Current Ratio
Cash Ratio

FY-14

FY-13

FY-12

FY-11

0.48

0.47

0.41

0.41

0.53

0.52

0.46

0.47

0.19

0.17

0.07

0.14

MARKET MULTIPLE RATIOS

Price to Earning per share ratio
Price to CashFlow per share Ratio
Price to Book Value per share Ratio

FY-14

FY-13

FY-12

FY-11

57.36

30.55

22.51

22.63

24.26

26.44

18.35

15.35

12.48

9.13

6.95

6.28

Source: Thomson Reuters

Naviatas Limited, Financial Ratios

All ratios are calculted for the year 2014
PROFITABILTY RATIOS
Return On Assets
Return on Equity
Gross Profit Margin
Operating Profit Margin
Pretax Margin
Net Margin

Source: Thomson Reuters

NVT
7.1%
24.4%
100.0%
10.4%
9.4%
5.9%

AKG
8.2%
21.0%
26.2%
16.1%
13.5%
11.5%

Market Comparable Ratios

Price to Earning per share ratio
Price to CashFlow per share Ratio
Price to Book Value per share Ratio

NVT
57.36
24.26
12.48

AKG
13.60
19.40
2.40

FY-14
Return On Assets
Return on Equity

FY-13

FY-12

FY-11

7.1%

10.3%

11.4%

11.8%

Net Income

24.4%

31.6%

31.3%

32.4%

Total Common Equity

Return on Total Equity

Navitas: Annual Return Trend

250

Return On Assets

31.6%

32.4%

31.3%

200

24.4%
150
7.1%

10.3%

FY-14

11.4%

FY-13

11.8%
100

FY-12

50

FY-11

Sales
EBIT
NI
Operating Profit Margin

FY-14

FY-13

FY-12

FY-11

878.219

731.734

688.146

641.826

91.385
51.584
10%

115.82
74.575
16%

112.104
73.149
16%

108.827
77.392
17%

FY-14

Navitas:Profit Margin Analysis

1000

18%

900

16%

500.0

800

14%

400.0

700

12%

600

10%

500

8%

400

6%

300

4%

200
100
0

FY-14

FY-13

FY-12

FY-11

Sales
EBIT
NI
Operating Profit
Margin

300.0
200.0
100.0
0.0

2%

-100.0

0%

-200.0
-300.0

FY-14

FY-14

FY-13

FY-12

FY-11

51.584

74.575

73.149

77.392

197.868

195.375

195.175

194.851

24%

32%

31%

32%

Navitas: Return Analysis

250

35%
30%

200

25%
150

20%

Net Income

100

15%

Total Common
Equity

10%
50
0

5%
FY-14

FY-13

FY-12

FY-14
Total Current Assets
Total Current Liabilities
Total Working Capital

0%

FY-11

202.2
382.2
-179.9

FY-13

FY-12

170.9
326.1
-155.2

121.6
262.8
-141.2

FY-11
125.8
266.2
-140.3

Navitas: Annual Net Working Capital

500.0
400.0
300.0
200.0

Total Current
Assets
Total Current
Liabilities

100.0
0.0
-100.0
-200.0
-300.0

FY-14

FY-13

FY-12

FY-11