Summary Financial Tables
| 30 June 2011 Board Est of Comm Value | Financial Year to 30 June 2011 | 30 June 2010 Board Est of Comm Value | Financial Year to 30 June 2010 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Cash Flows from Operating Activities | ROE | Dividend Yield* | TSR* | Net Gearing | Net Cash Flows from Operating Activities | ROE | Dividend Yield* | TSR* | Net Gearing | |||
| Air NZ** | 904.3 | 344.8 | 5.2% | 5.8% | 10.6% | 14.3% | 864.0 | 250.5 | 5.1% | 6.2% | 26.9% | 0.3% |
| Airways | 117.6 | 24.9 | 10.5% | 5.1% | 5.3% | 29.8% | 117.4 | 17.9 | (1.9%) | 4.5% | 14.5% | 37.5% |
| Animal Control Products | 6.2 | 1.9 | 28.8% | 16.6% | 11.5% | 0.0% | 6.5 | 1.3 | 13.1% | 14.9% | 7.4% | 0.0% |
| AsureQuality | 94.8 | 12.1 | 22.5% | 5.7% | 17.0% | 13.5% | 85.4 | 8.2 | 16.3% | 5.3% | 5.3% | 20.6% |
| Crown Fibre Holdings | 0.0 | (16.3) | (111.2%) | N/A | N/A | 0.0% | 0.0 | (3.2) | (43.2%) | N/A | N/A | 0.0% |
| Genesis | 2,120.0 | 194.2 | (1.1%) | 0.0% | 30.5% | 40.8% | 1,624.0 | 190.0 | 4.9% | 2.6% | 15.6% | 26.4% |
| KiwiRail | (484.0) | 47.6 | 0.3% | 0.0% | N/A | 3.5% | 12,419.0 | 134.1 | 1.6% | 0.0% | N/A | 3.5% |
| Kordia | 112.0 | 39.7 | (16.6%) | 0.0% | (43.7%) | 45.9% | 199.0 | 39.8 | (1.0%) | 0.0% | 19.2% | 47.1% |
| Landcorp | 1,400.0 | 51.8 | 8.9% | 1.3% | 10.3% | 10.4% | 1,270.0 | 18.1 | (0.4%) | 0.7% | (12.4%) | 11.4% |
| Learning Media | 16.5 | (2.4) | 9.7% | 0.7% | 58.1% | 0.0% | 10.5 | 1.5 | 32.4% | 0.0% | 90.9% | 0.0% |
| Meridian | 6,500.0 | 368.7 | 6.1% | 10.4% | 7.2% | 19.0% | 6,700.0 | 451.8 | 3.9% | 5.8% | 28.2% | 23.3% |
| MetService | 49.3 | 4.7 | 23.1% | 3.2% | 15.7% | 48.1% | 43.9 | 5.1 | 20.3% | 2.8% | 28.6% | 40.9% |
| Mighty River Power | 3,719.0 | 294.4 | 4.5% | 2.7% | 11.4% | 24.6% | 3,425.0 | 199.5 | 3.2% | 8.3% | 7.5% | 26.5% |
| NZ Post | 1,024.0 | (607.5) | (4.4%) | 0.2% | (12.8%) | 89.4% | 1,177.0 | 34.8 | 0.2% | 0.5% | 2.5% | 90.1% |
| Public Trust | 36.0 | (0.8) | 2.8% | 0.0% | 4.3% | N/A | 34.5 | (3.3) | 311.2% | 0.0% | N/A | N/A |
| Quotable Value | 33.0 | 0.0 | (9.9%) | 0.0% | (3.9%) | 0.0% | 34.4 | 2.4 | 2.7% | 4.0% | 19.6% | 0.0% |
| Solid Energy | 2,773.0 | 128.9 | 18.1% | 0.7% | (14.7%) | 29.6% | 3,275.6 | 86.1 | 15.5% | 1.9% | 37.3% | 34.4% |
| Transpower | 1,600.0 | 285.4 | 5.3% | 0.0% | 0.0% | 54.1% | 1,600.0 | 312.8 | 4.6% | 0.0% | 28.0% | 52.7% |
| TVNZ | 306.3 | 44.7 | 1.3% | 1.6% | 7.0% | 3.4% | 290.9 | 34.8 | (15.2%) | 0.6% | 59.8% | 18.4% |
| All Commercial Priority | 20,328.0 | 1,216.8 | 2.7% | 4.3% | 4.5% | 37.8% | 33,177.1 | 1,782.2 | 2.6% | 4.2% | 19.3% | 38.7% |
Crown Research Institutions |
||||||||||||
| AgResearch | 195.1 | 16.9 | 3.3% | 0.0% | 0.1% | 0.0% | 194.9 | 20.0 | (4.5%) | 0.0% | (0.1%) | 1.7% |
| ESR | 35.5 | 7.3 | 9.5% | 0.0% | 9.9% | 0.0% | 32.3 | 8.2 | (1.6%) | 0.3% | (0.9%) | 0.0% |
| GNS | 23.4 | 9.3 | 8.1% | 0.4% | 7.3% | 2.7% | 21.9 | 7.9 | 5.0% | 1.1% | 8.7% | 16.3% |
| Industrial Research | 39.2 | 5.6 | 6.1% | 0.0% | 2.4% | 0.0% | 38.3 | 10.1 | 0.5% | 0.0% | 14.4% | 0.0% |
| Landcare Research | 27.0 | 6.2 | 8.6% | 2.6% | (3.3%) | 0.0% | 28.6 | 4.8 | (7.6%) | 1.7% | 6.1% | 0.0% |
| NIWA | 89.0 | 12.1 | 1.4% | 0.0% | 4.7% | 12.7% | 85.0 | 23.9 | 5.2% | 0.0% | 1.2% | 3.7% |
| Plant and Food Research | 68.2 | 12.3 | 1.3% | 0.0% | 1.2% | 0.0% | 67.5 | 6.9 | (8.2%) | 0.0% | (7.9%) | 0.0% |
| Scion | 25.9 | 3.2 | 7.3% | 0.0% | (3.3%) | 0.0% | 26.8 | 3.4 | (3.9%) | 4.2% | 6.6% | 0.0% |
| CRIs subtotal | 503.4 | 72.8 | 4.0% | 0.2% | 1.8% | 0.0% | 495.3 | 85.3 | (2.5%) | 0.4% | 0.9% | 0.0% |
| Health Benefits | 0.0 | 2.1 | 150.5% | N/A | N/A | 0.0% | 0.0 | 0.0 | N/A | N/A | N/A | N/A |
| NZ Lotteries Commission | 0.0 | 203.6 | 515.8% | N/A | N/A | 0.0% | 0.0 | 165.4 | 406.0% | N/A | N/A | 0.0% |
| NZVIF | 0.0 | (1.2) | 0.1% | N/A | N/A | 0.0% | 0.0 | (1.4) | (6.3%) | N/A | N/A | 0.0% |
| REANNZ | 0.0 | (9.3) | (15.2%) | N/A | N/A | 0.0% | 0.0 | (3.9) | (38.0%) | N/A | N/A | 0.0% |
| Radio NZ | 0.0 | 3.5 | (0.5%) | N/A | N/A | 0.0% | 0.0 | 3.3 | (1.0%) | N/A | N/A | 0.0% |
| Christchurch Airport** | 174.0 | 9.4 | 3.7% | 1.2% | (1.9%) | 28.9% | 179.5 | 8.8 | (0.0%) | 1.4% | (1.5%) | 22.0% |
| Dunedin Airport** | 13.9 | 1.3 | 2.6% | 1.0% | 2.6% | 1.0% | 13.6 | 1.2 | (0.2%) | 0.0% | N/A | 42.0% |
| Hawke's Bay Airport** | 7.5 | 0.5 | 7.1% | 0.0% | 7.3% | 0.0% | 7.0 | 0.4 | 1.9% | 0.0% | N/A | 0.0% |
| Invercargill Airport** | 3.1 | 0.1 | 6.7% | 0.0% | 7.0% | 50.7% | 2.9 | 0.4 | (10.2%) | 0.0% | (9.7%) | 51.6% |
| Other subtotal | 198.5 | 210.1 | 53.5% | N/A | N/A | 0.0% | 203.0 | 174.2 | N/A | N/A | N/A | 0.0% |
| All Companies (excl CFIs)*** | 21,029.8 | 1,499.7 | 3.3% | 5.0% | 5.2% | 36.9% | 33,875.4 | 2,041.7 | 3.0% | 5.0% | 19.6% | 37.8% |
* Excludes KiwiRail
** Numbers are expressed in proportion to the Crown's ownership interest in the company
*** Incomplete information for some metrics
| Financial Position | Financial Performance | Cash Flows | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | Total Liabilities | Interest Bearing Obligations | Total Equity | Total Revenue | EBITDAF | NPAT | Net Cash Flows from Operating Activities | Purchase of Fixed Assets | Dividends Paid | Net Increase/Decrease in Cash | |
| Air NZ** | 3,628.2 | 2,515.7 | 928.3 | 1,112.5 | 3,212.0 | 400.3 | 59.5 | 344.8 | 589.8 | 51.1 | (153.6) |
| Airways | 137.4 | 93.0 | 30.0 | 44.4 | 152.5 | 23.1 | 4.7 | 24.9 | 13.4 | 6.0 | 2.4 |
| Animal Control Products | 7.6 | 1.9 | 0.2 | 5.7 | 7.1 | 2.4 | 1.6 | 1.9 | 0.1 | 1.1 | 0.6 |
| AsureQuality | 67.8 | 32.6 | 6.3 | 35.2 | 116.9 | 14.5 | 7.6 | 12.1 | 3.0 | 5.1 | 0.6 |
| Crown Fibre Holdings | 15.9 | 3.5 | 0.0 | 12.4 | 0.7 | (18.4) | (18.5) | (16.3) | 0.2 | 0.0 | (6.6) |
| Genesis | 3,676.8 | 1,964.8 | 1,217.7 | 1,712.0 | 1,834.5 | 292.7 | (16.6) | 194.2 | 864.8 | 0.0 | (4.4) |
| KiwiRail | 13,570.2 | 931.9 | 536.9 | 12,638.3 | 1,012.0 | 445.0 | 34.1 | 47.6 | 653.2 | 0.0 | 49.1 |
| Kordia | 238.6 | 157.0 | 79.4 | 81.6 | 294.5 | 52.0 | (14.7) | 39.7 | 15.1 | 0.0 | 1.6 |
| Landcorp | 1,663.0 | 311.3 | 157.2 | 1,351.6 | 229.7 | 76.4 | 114.6 | 51.8 | 57.8 | 18.0 | (0.3) |
| Learning Media | 15.1 | 9.1 | 0.0 | 6.0 | 23.5 | 1.2 | 0.6 | (2.4) | 0.2 | 0.1 | (2.5) |
| Meridian | 8,460.0 | 3,528.7 | 1,609.1 | 4,931.3 | 2,053.0 | 659.9 | 303.1 | 368.7 | 248.1 | 683.6 | 313.8 |
| MetService | 37.3 | 22.9 | 15.0 | 14.3 | 39.2 | 9.9 | 3.1 | 4.7 | 7.7 | 1.5 | 1.1 |
| Mighty River Power | 5,376.6 | 2,470.0 | 985.5 | 2,906.5 | 1,163.9 | 443.1 | 127.1 | 294.4 | 174.1 | 95.0 | 20.8 |
| NZ Post | 14,682.0 | 13,887.6 | 11,177.3 | 794.4 | 1,295.9 | 38.1 | (35.6) | (607.5) | 36.8 | 2.5 | 40.8 |
| Public Trust | 907.7 | 886.0 | 863.9 | 21.7 | 61.5 | (3.4) | 0.6 | (0.8) | 3.5 | 0.0 | (0.8) |
| Quotable Value | 28.1 | 8.0 | 0.5 | 20.1 | 46.0 | 0.7 | (2.1) | 0.0 | 0.2 | 0.0 | (1.2) |
| Solid Energy | 1,131.5 | 612.1 | 231.8 | 519.4 | 831.3 | 199.7 | 87.2 | 128.9 | 115.4 | 20.0 | 39.2 |
| Transpower | 4,170.6 | 2,637.1 | 1,810.0 | 1,533.5 | 731.4 | 452.2 | 78.5 | 285.4 | 663.7 | 0.0 | (21.4) |
| TVNZ | 228.7 | 74.4 | 10.0 | 154.3 | 377.8 | 53.6 | 2.1 | 44.7 | 8.8 | 4.9 | 3.3 |
| All Commercial Priority | 58,042.9 | 30,147.7 | 19,659.2 | 27,895.2 | 13,483.2 | 3,142.7 | 736.6 | 1,216.8 | 3,455.8 | 888.9 | 282.8 |
Crown Research Institutions |
|||||||||||
| AgResearch | 257.6 | 62.5 | 10.0 | 195.1 | 157.7 | 19.0 | 6.2 | 16.9 | 4.8 | 0.0 | 2.8 |
| ESR | 53.5 | 18.0 | 0.1 | 35.5 | 51.5 | 8.2 | 3.2 | 7.3 | 3.5 | 0.0 | 0.6 |
| GNS | 47.8 | 24.4 | 3.9 | 23.4 | 72.1 | 7.6 | 1.8 | 9.3 | 5.5 | 0.1 | 2.5 |
| Industrial Research | 52.2 | 13.0 | 0.0 | 39.2 | 62.6 | 5.0 | 2.3 | 5.6 | 5.5 | 0.0 | 0.6 |
| Landcare Research | 50.9 | 23.9 | 4.1 | 27.0 | 63.4 | 7.2 | 2.3 | 6.2 | 4.1 | 0.7 | 1.1 |
| NIWA | 139.8 | 49.6 | 14.8 | 90.2 | 117.8 | 16.7 | 1.3 | 12.1 | 22.0 | 0.0 | (0.9) |
| Plant and Food Research | 99.0 | 30.8 | 0.3 | 68.2 | 113.2 | 9.2 | 0.9 | 12.3 | 10.0 | 0.0 | 3.4 |
| Scion | 37.7 | 11.8 | 0.0 | 25.9 | 43.1 | 5.1 | 1.8 | 3.2 | 2.7 | 0.0 | 0.2 |
| CRIs subtotal | 738.5 | 234.0 | 33.2 | 504.6 | 681.3 | 78.0 | 19.8 | 72.8 | 58.2 | 0.8 | 10.2 |
| Health Benefits | 2.6 | 1.4 | 0.0 | 1.2 | 5.7 | 0.9 | 0.9 | 2.1 | 0.0 | 0.0 | 0.0 |
| NZ Lotteries Commission | 157.5 | 122.6 | 0.0 | 34.9 | 885.1 | 190.2 | 183.3 | 203.6 | 3.6 | 174.2 | 24.6 |
| NZVIF | 79.3 | 0.4 | 0.0 | 78.9 | 2.3 | (1.7) | 0.0 | (1.2) | 0.0 | 0.0 | 1.6 |
| REANNZ | 31.7 | 5.4 | 0.0 | 26.3 | 8.9 | 2.2 | (3.0) | (9.3) | 2.6 | 0.0 | (4.3) |
| Radio NZ | 59.5 | 10.3 | 0.0 | 49.2 | 38.2 | 3.2 | (0.3) | 3.5 | 1.4 | 0.0 | 0.1 |
| Christchurch Airport** | 241.1 | 90.9 | 61.5 | 150.3 | 24.3 | 14.2 | 5.4 | 9.4 | 27.6 | 2.1 | 0.1 |
| Dunedin Airport** | 28.2 | 14.4 | 0.2 | 13.9 | 4.3 | 2.1 | 0.4 | 1.3 | 0.4 | 0.1 | (0.0) |
| Hawke's Bay Airport** | 8.9 | 1.3 | 0.0 | 7.5 | 1.3 | 0.7 | 0.5 | 0.5 | 2.4 | 0.0 | 0.5 |
| Invercargill Airport** | 6.8 | 3.8 | 3.2 | 3.1 | 1.3 | 0.3 | 0.2 | 0.1 | 0.2 | 0.0 | (0.2) |
| Other subtotal | 615.6 | 250.4 | 64.9 | 365.3 | 971.4 | 211.9 | 187.5 | 210.1 | 38.2 | 176.5 | 22.3 |
| All Companies (excl CFIs)* | 59,397.1 | 30,632.1 | 19,757.2 | 28,765.0 | 15,135.9 | 3,432.6 | 943.9 | 1,499.7 | 3,552.2 | 1,066.2 | 315.3 |
* Incomplete information for some metrics
** Numbers are expressed in proportion to the Crown's ownership interest in the company
| 2011 | 2010 | 2011 | 2010 | 2011 | 2010 | 2011 | 2010 | 2011 | 2010 | 2011 | 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | Total Revenue | EBITDAF | EBITDAF | NPAT | NPAT | Adjusted ROE | Adjusted ROE | Dividend for the Financial Year (not cash flow)* | Dividend for the Financial Year (not cash flow) | Total FTEs | Total FTEs | |
| Air NZ** | 3,212.0 | 3,034.7 | 400.3 | 328.9 | 59.5 | 61.1 | 5.0% | 5.2% | 55.5 | 48.8 | 8,037 | 7,874 |
| Airways | 152.5 | 145.2 | 23.1 | 22.4 | 4.7 | (0.9) | 10.4% | (1.9%) | 6.0 | 5.0 | 732 | 713 |
| Animal Control Products | 7.1 | 6.2 | 2.4 | 1.7 | 1.6 | 0.7 | 40.9% | 18.7% | 1.1 | 1.0 | 11 | 12 |
| AsureQuality | 116.9 | 138.3 | 14.5 | 13.1 | 7.6 | 5.1 | 28.4% | 20.6% | 6.1 | 3.5 | 1,597 | 1,317 |
| Crown Fibre Holdings | 0.7 | 0.4 | (18.4) | (4.5) | (18.5) | (4.5) | (111.2%) | (43.2%) | 0.0 | 0.0 | 14 | 7 |
| Genesis | 1,834.5 | 1,895.3 | 292.7 | 248.8 | (16.6) | 69.3 | (0.7%) | 7.1% | 0.0 | 28.7 | 976 | 961 |
| KiwiRail | 1,012.0 | 1,105.4 | 445.0 | 532.9 | 34.1 | 194.5 | 1.9% | 13.6% | 0.0 | 0.0 | 4,190 | 4,075 |
| Kordia | 294.5 | 258.4 | 52.0 | 53.4 | (14.7) | (1.0) | (16.3%) | (1.0%) | 0.0 | 0.0 | 905 | 806 |
| Landcorp | 229.7 | 171.7 | 76.4 | 35.8 | 114.6 | (5.8) | 26.3% | 3.9% | 0.0 | 0.0 | 599 | 584 |
| Learning Media | 23.5 | 24.2 | 1.2 | 2.4 | 0.6 | 1.5 | 9.7% | 32.4% | 0.0 | 0.0 | 126 | 109 |
| Meridian | 2,053.0 | 2,061.9 | 659.9 | 641.7 | 303.1 | 184.0 | 25.7% | 15.9% | 684.6 | 158.1 | 800 | 804 |
| MetService | 39.2 | 38.0 | 9.9 | 9.3 | 3.1 | 2.4 | 23.1% | 20.5% | 1.5 | 1.1 | 216 | 217 |
| Mighty River Power | 1,163.9 | 1,104.6 | 443.1 | 327.8 | 127.1 | 84.6 | 16.1% | 8.0% | 110.4 | 86.5 | 784 | 727 |
| NZ Post | 1,295.9 | 1,204.2 | 38.1 | 110.4 | (35.6) | 1.3 | (4.9%) | (3.4%) | 10.6 | 6.4 | 8,059 | 8,710 |
| Public Trust | 61.5 | 62.6 | (3.4) | (3.1) | 0.6 | 4.8 | N/A | N/A | 0.0 | 0.0 | 450 | 470 |
| Quotable Value | 46.0 | 45.6 | 0.7 | 1.2 | (2.1) | 0.6 | (10.0%) | 2.7% | 0.0 | 0.6 | 352 | 346 |
| Solid Energy | 831.3 | 693.4 | 199.7 | 167.6 | 87.2 | 67.8 | 18.8% | 16.0% | 50.0 | 30.0 | 1,428 | 1,223 |
| Transpower | 731.4 | 730.3 | 452.2 | 465.7 | 78.5 | 65.0 | 8.5% | 10.0% | 0.0 | 0.0 | 689 | 657 |
| TVNZ | 377.8 | 355.1 | 53.6 | 3.6 | 2.1 | (26.0) | 2.3% | (14.3%) | 4.9 | 0.0 | 941 | 980 |
| All Commercial Priority | 13,483.2 | 13,075.4 | 3,142.7 | 2,958.9 | 736.6 | 704.7 | 8.4% | 8.8% | 930.6 | 369.6 | 30,906 | 30,592 |
Crown Research Institutions |
||||||||||||
| AgResearch | 157.7 | 155.5 | 19.0 | 16.6 | 6.2 | (8.6) | 5.5% | (9.0%) | 0.0 | 0.0 | 780 | 824 |
| ESR | 51.5 | 53.5 | 8.2 | 9.1 | 3.2 | (0.5) | 9.5% | (1.6%) | 0.0 | 0.0 | 325 | 349 |
| GNS | 72.1 | 65.1 | 7.6 | 7.1 | 1.8 | 1.0 | 8.2% | 5.0% | 0.2 | 0.0 | 370 | 369 |
| Industrial Research | 62.6 | 63.0 | 5.0 | 7.0 | 2.3 | 0.2 | 6.1% | 0.5% | 0.0 | 0.0 | 330 | 324 |
| Landcare Research | 63.4 | 61.6 | 7.2 | 6.4 | 2.3 | (2.0) | 9.7% | (7.7%) | 0.7 | 0.5 | 415 | 417 |
| NIWA | 117.8 | 127.7 | 16.7 | 24.8 | 1.3 | 4.5 | 1.4% | 5.2% | 0.0 | 0.0 | 643 | 700 |
| Plant and Food Research | 113.2 | 117.5 | 9.2 | 13.1 | 0.9 | (5.8) | 1.3% | (8.3%) | 0.0 | 0.0 | 810 | 820 |
| Scion | 43.1 | 43.2 | 5.1 | 5.3 | 1.8 | (1.0) | 6.2% | (4.2%) | 0.0 | 1.1 | 313 | 321 |
| CRIs subtotal | 681.3 | 687.2 | 78.0 | 89.4 | 19.8 | (12.2) | 4.7% | (3.2%) | 1.0 | 1.6 | 3,986 | 4,124 |
| Health Benefits | 5.7 | N/A | 0.9 | N/A | 0.9 | N/A | 180.3% | N/A | 0.0 | N/A | 14 | N/A |
| NZ Lotteries Commission | 885.1 | 750.4 | 190.2 | 163.8 | 183.3 | 159.0 | 530.5% | 423.4% | 0.0 | 0.0 | 115 | 115 |
| NZVIF | 2.3 | 2.3 | (1.7) | (1.9) | 0.0 | (4.3) | (0.5%) | (1.0%) | 0.0 | 0.0 | 7 | 7 |
| REANNZ | 8.9 | 6.4 | 2.2 | (1.6) | (3.0) | (6.3) | (15.2%) | (38.0%) | 0.0 | 0.0 | 14 | 12 |
| Radio NZ | 38.2 | 38.2 | 3.2 | 3.4 | (0.3) | (0.5) | (1.2%) | (2.3%) | 0.0 | 0.0 | 269 | 277 |
| Christchurch Airport** | 24.3 | 23.9 | 14.2 | 15.7 | 5.4 | (0.1) | 8.3% | (0.1%) | 2.1 | 2.6 | 48 | 45 |
| Dunedin Airport** | 4.3 | 4.1 | 2.1 | 1.9 | 0.4 | (0.0) | 3.5% | (0.2%) | 0.1 | 0.0 | 11 | 12 |
| Hawke's Bay Airport** | 1.3 | 1.2 | 0.7 | 0.5 | 0.5 | 0.1 | 7.1% | 2.3% | 0.0 | 0.0 | 1 | 1 |
| Invercargill Airport** | 1.3 | 1.3 | 0.3 | 0.2 | 0.2 | (0.3) | 4.4% | (6.6%) | 0.0 | 0.0 | 3 | 3 |
| Other subtotal | 971.4 | 828.0 | 211.9 | 182.0 | 187.5 | 147.7 | 79.4% | 66.4% | 2.3 | 2.6 | 482 | 470 |
| All Companies (excl CFIs)*** | 15,135.9 | 14,590.5 | 3,432.6 | 3,230.4 | 943.9 | 840.2 | 9.8% | 9.6% | 933.9 | 373.8 | 35,374 | 35,186 |
* Includes Meridian one-off special dividend of $521 million due to sale of Tekapo A and B Stations
** Numbers are expressed in proportion to the Crown's ownership interest in the company *** Incomplete information for some metrics
The financial data in the 2011 APR are sourced from COMU's new financial database which collects financial information directly from COMU-monitored entities. There are some differences for individual entities' data between the 2011 APR and 2010 APR (which relied upon a different data-set). These differences arise primarily from definitional changes to line items agreed with individual entities, along with minor historical errors identified when migrating the data to the new database.
