Freightways Limited (NZX:FRE) Annual Report 2022



The latest annual report of Freightways Limited (FRE) was published on 30 Jun 2022. An annual report is a document that public corporations must provide annually to shareholders that describes their operations and financial conditions. Typically, an annual report will contain sections such as General corporate information, Operating and Financial highlights, Letter to shareholders from the CEO, Financial statements etc.

Key Statistics - FRE Annual Results

Amounts in NZD

Total Revenue
873.09M
Gross Profit
276.07M
EBIT
122.69M
Net Tangible Assets
-145.29M
Net Income
70.09M
Capital Expenditures
-23.02M

FRE Income Statement 2022 Annual Report

As per the latest Income Statement of FRE, the Net revenue increased by $72.56M (9%) compared to the previous period. The operating income in 2022 increased by $1.46M (1%). The net income as per the annual report was 70.09M which increased by $22.24M (46%) compared to previous year.

Income Statement Report (2022/2021)

20222021
Total Revenue873.09M800.53M
Gross Profit276.07M264.55M
Operating Income122.69M121.23M
Income Before Tax98.7M75.52M
Net Income70.09M47.85M

Balance Sheet - FRE 2022 Annual Report

Read further: FRE Balance Sheet Detailed Analysis

The latest balance sheet from annual result of Freightways Limited showed the company increased the cash on balance sheet by $4.20M (21%). The Net tangible assets of FRE on the balance sheet were at -145.29M which is $8.14M (5%) more than previous annual report. The total stockholder equity also increased by $18.43M (5%) compared to previous reporting period.

Balance Sheet Statement Report (2022/2021)

20222021
Cash24.14M19.94M
Total Assets1.09B 1.04B
Long Term Debt176.21M164.49M
Total Liabilities731.97M 703.13M
Total Shareholder Equity356.38M337.95M
Net Tangible Assets-145.29M-153.43M

Cash Flow Statement - FRE 2022 Annual Report

The 2022 annual cash flow statement of Freightways Limited showed that the net income increased by $22.24M (46%) compared to previous reporting period. Also the capital expenditure of FRE decreased by $-10.66M (-86%).

As of 2022, the total cash from investing activities was -37.78M and total cash from financing activities was -82.11M.

Cash Flow Statement Report (2022/2021)

20222021
Net Income70.09M47.85M
Capital Expenditures-23.02M-12.36M
Dividends Paid-59.68M-25.66M
Total Cash From From Investing Activities-37.78M-12.68M
Total Cash From From Financing Activities-82.11M-117.21M

Freightways Limited Annual Report History

Income Statement

Income Statement history of Freightways Limited (NZX:FRE)

30 Jun 202230 Jun 202130 Jun 202030 Jun 2019
Total Revenue873.09M800.53M630.94M615.69M
Cost Of Revenue597.02M535.99M421.46M416.44M
Gross Profit276.07M264.55M209.48M199.25M
Research Development----
Selling General Administrative87.49M78.71M64.81M87.03M
Non Recurring----
Other Operating Expenses----
Total Operating Expenses750.4M679.3M536.62M520.98M
Operating Income122.69M121.23M94.32M94.71M
Total Other Income Expense Net-23.99M-45.71M-28.02M-7.21M
Ebit122.69M121.23M94.32M94.71M
Interest Expense-20.29M-22.67M-18.42M-9.62M
Income Before Tax98.7M75.52M66.3M87.5M
Income Tax Expense28.52M27.59M18.93M24.12M
Minority Interest235k148k114k124k
Net Income From Continuing Ops70.18M47.93M47.38M63.38M
Discontinued Operations----
Extraordinary Items----
Effect Of Accounting Charges----
Other Items----
Net Income70.09M47.85M47.33M63.37M
Net Income Applicable To Common Shares70.09M47.85M47.33M63.37M

Balance Sheet Statement

Balance Sheet Statement history of Freightways Limited (NZX:FRE)

30 Jun 202230 Jun 202130 Jun 202030 Jun 2019
Cash24.14M19.94M16.69M15.99M
Net Receivables128.4M103.95M100.77M87.81M
Inventory8.67M7.44M6.02M5.01M
Other Current Assets788k---
Total Current Assets162.18M131.32M123.47M108.8M
Long Term Investments12.6M7.51M7.84M-
Property Plant Equipment405.2M404.19M412.79M106.71M
Good Will306.12M295.5M301.28M212.74M
Intangible Assets195.55M195.88M197.68M152.41M
Other Assets6.94M6.83M7.35M3.98M
Total Assets1.09B1.04B1.05B584.65M
Accounts Payable48.42M44.97M44.56M34.17M
Other Current Liab121.45M61.59M57.9M40.79M
Long Term Debt176.21M164.49M216.48M172.41M
Other Liab48.18M94.84M77.27M45.17M
Minority Interest235k148k114k124k
Total Current Liabilities232.19M163.24M159.45M92.93M
Total Liab731.97M703.13M733.64M310.64M
Common Stock184.35M182.57M180.63M126.44M
Retained Earnings173.94M163.52M142.75M157.23M
Treasury Stock-1.91M-8.14M-6.71M-9.78M
Other Stockholder Equity-1.91M-8.14M-6.71M-9.78M
Total Stockholder Equity356.38M337.95M316.67M273.89M
Net Tangible Assets-145.29M-153.43M-182.3M-91.27M

Cash Flow Statement

Cash Flow Statement history of Freightways Limited (NZX:FRE)

30 Jun 202230 Jun 202130 Jun 202030 Jun 2019
Net Income70.09M47.85M47.33M63.37M
Depreciation62.24M59.88M46.65M14.59M
Change To Netincome-2.45M16.98M29.48M-231k
Change To Account Receivables-20.91M-5.1M-5.1M-7.77M
Change To Liabilities15.43M17.15M-2.46M
Change To Inventory-2.5M-1.41M-1.41M-139k
Total Cash From Operating Activities123.68M133.22M127.17M76.01M
Capital Expenditures-23.02M-12.36M-18.32M-16.84M
Investments256k3.35M-6.27M2.48M
Other Cashflows From Investing Activities2k-213k-226k-470k
Total Cashflows From Investing Activities-37.78M-12.68M-124.25M-29.93M
Dividends Paid-59.68M-25.66M-47.4M-47M
Net Borrowings-24.2M-92.3M20.85M9.42M
Total Cash From Financing Activities-82.11M-117.21M-2.48M-36.83M
Effect Of Exchange Rate400k-87k264k-672k
Change In Cash4.2M3.25M700k8.58M
Issuance Of Stock1.78M799k24.13M748k