Mandarin Oriental International Limited - Mandarin Oriental Hotel ...
Mandarin Oriental International Limited - Mandarin Oriental Hotel ...
Mandarin Oriental International Limited - Mandarin Oriental Hotel ...
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FIVE YEAR SUMMARY<br />
Consolidated Profit and Loss Account<br />
2001 2002 2003 2004 2005<br />
US$m US$m US$m US$m US$m<br />
Revenue 227.9 233.7 218.1 336.8 399.2<br />
Operating profit 23.7 37.7 29.8 43.4 60.4<br />
Net financing charges (26.4) (24.9) (23.8) (27.5) (22.4)<br />
Share of results of associates and joint ventures 6.6 7.6 (0.9) 12.6 8.7<br />
Gains on disposal of associates – – – – 52.3<br />
Profit before tax 3.9 20.4 5.1 28.5 99.0<br />
Tax (3.7) (5.3) (8.0) (4.8) (24.8)<br />
Profit/(Loss) for the year 0.2 15.1 (2.9) 23.7 74.2<br />
Profit attributable to shareholders 0.6 15.3 (1.8) 28.5 77.2<br />
Loss attributable to minority interests (0.4) (0.2) (1.1) (4.8) (3.0)<br />
0.2 15.1 (2.9) 23.7 74.2<br />
Earnings per share (US¢) 0.07 1.80 (0.21) 3.35 8.14<br />
Dividends per share (US¢) 0.50 – – 1.00 1.50<br />
Consolidated Balance Sheet<br />
Intangible assets 211.0 209.6 219.7 219.4 215.5<br />
Tangible assets 458.4 512.3 687.1 752.1 684.0<br />
Associates and joint ventures 219.0 272.9 243.3 258.6 205.0<br />
Other investments 23.5 26.3 18.2 6.4 5.1<br />
Loan receivable – – – – 12.0<br />
Pension assets 14.6 5.4 19.2 22.9 22.8<br />
Deferred tax assets 2.9 4.1 4.9 7.8 9.9<br />
Other non-current assets – – – – 5.5<br />
Net current assets/(liabilities) 69.6 37.6 35.8 (32.3) 202.1<br />
Long-term borrowings (448.1) (483.0) (584.9) (497.1) (471.6)<br />
Deferred tax liabilities (6.9) (6.8) (26.0) (38.2) (49.8)<br />
Pension liabilities (0.9) (1.5) (1.7) (1.7) (1.7)<br />
Other non-current liabilities (4.6) (5.4) (4.1) (6.0) –<br />
Net operating assets 538.5 571.5 611.5 691.9 838.8<br />
Share capital 42.6 42.6 42.6 42.6 48.3<br />
Share premium 88.7 88.7 88.7 89.0 158.8<br />
Revenue and other reserves 402.6 430.6 469.0 552.1 628.0<br />
Shareholders’ fund 533.9 561.9 600.3 683.7 835.1<br />
Minority interests 4.6 9.6 11.2 8.2 3.7<br />
Capital employed 538.5 571.5 611.5 691.9 838.8<br />
Net assets value per share (US$) 0.63 0.66 0.70 0.80 0.87<br />
Consolidated Cash Flow Statement<br />
Cash flows from operating activities 13.7 33.5 28.3 47.1 72.6<br />
Cash flows from investing activities (38.7) (76.1) (84.7) (28.4) 43.3<br />
Net cash flow before financing activities (25.0) (42.6) (56.4) 18.7 115.9<br />
Cash flow per share from operating activities (US¢) 1.60 3.93 3.32 5.53 7.65<br />
Figures prior to 2005 have been restated to reflect certain prior period adjustments made on deferred taxation.<br />
ANNUAL REPORT 2005 73