New Zealand Refining : Interim Report 2021

Consolidated Income Statement

2

Consolidated Statement of Comprehensive Income

3

Consolidated Balance Sheet

4

Consolidated Statement of Changes in Equity

6

Consolidated Statement of Cash Flows

8

Basis of Preparation

9

Notes to the Interim Financial Statements

11

Directory

30

GROUP

GROUP

30 JUNE

30 JUNE

2021

2020

NOTE

$000

$000

INCOME

Revenue

4

115,271

116,154

Other income

4

159

2,964

TOTAL INCOME

4,5

115,430

119,118

EXPENSES

Purchase of process materials and utilities

35,555

43,737

Materials and contractor payments

8,216

11,478

Wages, salaries and benefits

12

16,133

30,903

Administration and other costs

14,022

17,618

TOTAL EXPENSES

73,926

103,736

EARNINGS BEFORE DEPRECIATION, IMPAIRMENT,

FINANCE COSTS AND INCOME TAX

41,504

15,382

Depreciation and disposal costs

41,781

47,300

Impairment of assets

3

-

218,903

TOTAL DEPRECIATION, DISPOSALS AND IMPAIRMENT

41,781

266,203

NET LOSS BEFORE FINANCE COSTS

(277)

(250,821)

FINANCE COSTS

Finance income

(47)

(146)

Finance costs

5,469

6,552

NET FINANCE COSTS

5,422

6,406

NET LOSS BEFORE INCOME TAX

(5,699)

(257,227)

Income tax

(785)

(70,879)

NET LOSS AFTER INCOME TAX

(4,914)

(186,348)

ATTRIBUTABLE TO:

Owners of the Parent

(4,914)

(186,348)

EARNINGS PER SHARE FOR PROFIT ATTRIBUTABLE TO THE

SHAREHOLDERS OF THE NEW ZEALAND REFINING COMPANY

LIMITED

CENTS

CENTS

Basic earnings per share

(1.57)

(59.60)

Diluted earnings per share

(1.56)

(59.50)

GROUP

GROUP

30 JUNE

30 JUNE

2021

2020

NOTE

$000

$000

NET LOSS AFTER INCOME TAX

(4,914)

(186,348)

OTHER COMPREHENSIVE INCOME

Items that will not be reclassified to the Income

Statement

Defined benefit plan and medical scheme actuarial

15,615

gain/(loss)

12

(19,927)

Deferred tax on defined benefit plan and medical scheme

(4,372)

5,580

Total items that will not be reclassified to the Income

Statement

11,243

(14,347)

Items that may be subsequently reclassified to the

Income Statement

9,433

Movement in cash flow hedge reserve

(1,327)

Deferred tax on movement in cash flow hedge reserve

(2,641)

372

Total items that may be subsequently reclassified to the

Income Statement

6,792

(955)

TOTAL OTHER COMPREHENSIVE INCOME/(LOSS), AFTER

INCOME TAX

18,035

(15,302)

TOTAL COMPREHENSIVE INCOME/(LOSS) FOR THE

PERIOD, AFTER INCOME TAX

13,121

(201,650)

ATTRIBUTABLE TO:

Owners of the Parent

13,121

(201,650)