APA Group (APA)
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Major Owner of Gas Pipelines across Australia
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As at 24/01/2012 : see details at www.apa.com.au
| 22/12/2011 |
Half-yearly Performance & Estimates - APA
| Year-end June | FY11A | 1H12A | FY12A | 1H13A | FY13A | FY14E | FY15E |
|---|---|---|---|---|---|---|---|
| Sales, $m | 1,50 | 503.8 | 1,9 | 581.5 | 1,205 | 1,310 | 1,417 |
| EBITDA, $m | 485.5 | 287.0 | 530.4 | 312.6 | 651.6 | 724.3 | 810.6 |
| EBIT, $m | 385.1 | 230.8 | 420.0 | 248.8 | 521.1 | 583.0 | 654.6 |
| Report NPAT, $m | 109.3 | 76.5 | 140.4 | 95.6 | 176.0 | ||
| Adj. NPAT, $m | 176.0 | 183.4 | 223.5 | ||||
| Reported EPS, ¢ | 20.00 | 12.00 | 22.00 | 14.00 | 23.00 | ||
| Adjusted EPS, ¢ | 23.00 | 22.00 | 27.35 | ||||
| EPS %FY/Growth | 55% | 10% | 61% | 5% | -4% | 24% | |
| Dividend, ¢ | 34.4 | 17.0 | 35.0 | 17.0 | 35.5 | 36.00 | 37.00 |
| Franking, % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| EBITDA Margin | 46% | 0 | 53% | 54% | 54% | 55.3% | 57.2% |
| NPAT Margin | 10% | 0 | 14% | 16% | 15% | 14.0% | 15.8% |
| ROE, % | 9% | 0 | 11% | 4 | 9% | ||
| EBIT/Interest | 1.6 | 0.0 | 1.8 | 1.94 | 1.83 | ||
| Net Debt / Equity | 1.68 | 0 | 1.6 | 1.86 | 1.69 | ||
| CashFlow/Sh, ¢ | 52.6 | 24.7 | 52.5 | 20.2 | 48.5 | 45.3 | 53.0 |
| Y/E Shares, m | 634.2 | 639.4 | 644.5 | 827.4 | 835.8 |
| Notes |
| Data sourced from IRESS Market Technology Limited. EPS Growth compared with the pcp is shown in most columns, except 1H11A and 1H12A which show the first half % of full year EPS. In a handful of cases, unadjusted share splits may give strange changes in ratios. |
Half-year Performance & Estimates - APA
| Year-end June | 1H11A | FY11A | 1H12A | FY12A | 1H13A | FY13E | FY14E |
|---|---|---|---|---|---|---|---|
| Sales, $m | 520.6 | 1,50 | 503.8 | 1,9 | 581.5 | 1,187 | 1,304 |
| EBITDA, $m | 252.2 | 485.5 | 287.0 | 530.4 | 312.6 | 672.8 | 729.0 |
| EBIT, $m | 207.3 | 385.1 | 230.8 | 420.0 | 248.8 | 539.7 | 572.0 |
| Report NPAT, $m | 63.4 | 109.3 | 76.5 | 140.4 | 95.6 | ||
| Adj. NPAT, $m | 95.6 | 184.0 | 178.3 | ||||
| Reported EPS, ¢ | 12.00 | 20.00 | 12.00 | 22.00 | 14.00 | ||
| Adjusted EPS, ¢ | 14.00 | 23.75 | 21.25 | ||||
| EPS %FY/Growth | 60% | 55% | 10% | 17% | 8% | -11% | |
| Dividend, ¢ | 16.5 | 34.4 | 17.0 | 35.0 | 17.0 | 35.50 | 36.00 |
| Franking, % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| EBITDA Margin | 48% | 46% | 0 | 53% | 54% | 56.7% | 55.9% |
| NPAT Margin | 11% | 10% | 0 | 14% | 16% | 15.5% | 13.7% |
| ROE, % | 10% | 9% | 0 | 11% | 4% | ||
| EBIT/Interest | 1.6 | 1.6 | 0.0 | 1.8 | 1.94 | ||
| Net Debt / Equity | 2.09 | 1.68 | 0 | 1.6 | 1.86 | ||
| CashFlow/Sh, ¢ | 31.0 | 52.6 | 24.7 | 52.5 | 20.2 | 40.5 | 47.3 |
| Y/E Shares, m | 551.7 | 634.2 | 639.4 | 644.5 | 827.4 |
| Notes |
| EPS Growth compared with the pcp is shown in most columns, except 1H10A and 1H11A which show the first half % of full year EPS. |
Company Overview
Profile
APA Group
Rating: ♣
Category: Best Stock ; Large
Action:
Website: www.apa.com.au
| ASX code: | APA |
| Closing Price, 30/12/2013: | $ 6.060 |
| Market Capitalisation: | $ 5,40 million |
| 52 Week High: | $ 6.97 |
| 52 Week Low: | $ 5.39 |
| Sector: | Gas Utilities |
| Index: | S&P/ASX 100 Index |
Summary of Fundamentals
| Year-end June | FY12A | FY13A | FY14E | FY15E |
|---|---|---|---|---|
| NPAT, $m | 140.4 | 176.0 | 183.5 | 225.7 |
| Reported EPS, ¢ | 22.00 | 23.00 | ||
| Adjusted EPS, ¢ | 23.10 | 22.00 | 27.00 | |
| EPS Growth, % | 10% | 5% | -5% | 23% |
| P/E Ratio, x | 27.55 | 26.23 | 27.55 | 22.44 |
| Dividend, ¢ | 35.0 | 35.5 | 36.05 | 37.00 |
| Franking, % | 0% | 0% | 0% | 0% |
| Div. Yield, % | 5.78 | 5.86 | 5.95 | 6.11 |
Notes
| Our Adjusted EPS is used for the last year and forward estimates and as basis for EPS Growth and P/E Ratio. We currently use Reported data for all historic NPAT, for the prior year EPS and as base for last year EPS growth. |
| Data & Chart sourced from IRESS Market Technology Ltd. |
One Year Chart
As at 30 December 2013
Other Highlights
| Sector: | Gas Utilities |
| Return on Equity, FY13 : | 9% |
| Net Debt to Equity, FY13 : | 169 % |
| EBIT / Interest Cover, FY13 : | 1.83 x |
| Gicscode: | 55102010 |
| First Listed: | 13-Jun-00 |
Business Activities
APA Group (APA) owns Australia’s largest natural gas distribution and storage infrastructure network, constituting mainly gas transmission and distribution. It has long-term growth prospects despite being regulated in parts.
Glossary:
| ♠ | "A Core Stock" - reliable long-term yield & growth |
| ♥ | "We like it" - a seasoned performer, growth & yield |
| ♦ | "A tough scout" - creating a potential breakthrough |
| ♣ | "A steady performer" - giving reliable yield or growth |
| Best Stocks | Portfolio of selected attractive investments |
| Potential | Stocks that may have good improvement prospects |
| Speculative | More risky usually smaller stocks with spec. upside |
| Midcaps | In RR Midcap Index, $ 70m to 1,500m market cap. |
| Large Stocks | Larger Stocks upwards of $ 1,500m market cap |