Public Domain 2005: SRN: Table C

June Return 2005 Public Domain

Southern

Boards Overview, Table C
Expenditure and Financial Performance measures


	Description	Units	1997-98	1998-99	1999-00	2000-01	2001-02	2002-03	2003-04	2004-05

	TOTAL EXPENDITURE
1	Total operating expenditure - water service	£m	56.439	56.634	56.179	48.698	53.940	58.968	61.438	61.080
2	Total capital expenditure (excl. adopted and nil cost assets) - water service	£m	55.787	54.833	42.718	48.590	53.826	57.140	54.507	48.529
3	Total operating expenditure - sewerage service	£m	85.877	85.108	87.704	76.580	88.069	103.959	110.410	109.485
4	Total capital expenditure (excl. adopted and nil cost assets) - sewerage service	£m	229.180	284.749	290.599	241.193	188.544	164.660	136.419	117.000
	CURRENT COST ACCOUNTS - PROFIT & LOSS
5	Turnover	£m	410.700	433.749	465.115	416.071	423.935	431.070	448.313	467.549
6	Current cost operating costs (including CCD and IRC)	£m	-272.900	-282.913	-280.862	-269.247	-300.719	-314.594	-337.080	-343.861
7	Current cost operating profit	£m	144.300	158.721	192.349	151.185	126.813	127.584	118.396	128.143
	CAPITAL BASE & POST TAX RETURN
8	Capital Value Yr End (outturn)	£m	1,573.732	1,851.829	2,122.806	2,092.950	2,066.014	2,191.837	2,335.482	2,390.705
9	Total net debt	£m	562.400	739.124	916.218	1,026.514	1,202.601	1,257.269	1,968.385	2,047.276
10	Post-tax Return on Capital	%	9.87	9.30	9.78	7.38	5.22	5.12	4.22	5.01
	KEY FINANCIAL INDICATORS
11	Interest Cover	ratio	5.50	4.67	4.43	3.40	2.78	2.05	1.86	1.79
12	Gearing (D/D+Equity)	ratio	0.43	0.47	0.49	0.59	0.60	0.61	0.65	0.66
13	Cash Interest Cover I (EBITDA)	ratio	3.15	8.68	5.40	5.00	4.66	2.81	2.69	3.41
14	Cash Interest Cover II (EBIDA)	ratio	2.20	7.26	4.86	4.24	3.90	2.65	2.37	3.22

The line 8 Capital Value Yr End (outturn) value for 2004-05 has been recalculated from 1997-98 to outturn prices using year end RPI for 2004-05 divided by year end RPI for 1997-98. This results in values which are consistent with those published in RD 07/05. The method of indexation applied to values for previous years is unchanged. They are calculated using RPI financial year end for 2004-05 divided by financial year average for 1997-98.