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)

2022 2021
Total Revenue 873.09M 800.53M
Gross Profit 276.07M 264.55M
Operating Income 122.69M 121.23M
Income Before Tax 98.7M 75.52M
Net Income 70.09M 47.85M

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)

2022 2021
Cash 24.14M 19.94M
Total Assets 1.09B 1.04B
Long Term Debt 176.21M 164.49M
Total Liabilities 731.97M 703.13M
Total Shareholder Equity 356.38M 337.95M
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)

2022 2021
Net Income 70.09M 47.85M
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 2022 30 Jun 2021 30 Jun 2020 30 Jun 2019
Total Revenue 873.09M 800.53M 630.94M 615.69M
Cost Of Revenue 597.02M 535.99M 421.46M 416.44M
Gross Profit 276.07M 264.55M 209.48M 199.25M
Research Development - - - -
Selling General Administrative 87.49M 78.71M 64.81M 87.03M
Non Recurring - - - -
Other Operating Expenses - - - -
Total Operating Expenses 750.4M 679.3M 536.62M 520.98M
Operating Income 122.69M 121.23M 94.32M 94.71M
Total Other Income Expense Net -23.99M -45.71M -28.02M -7.21M
Ebit 122.69M 121.23M 94.32M 94.71M
Interest Expense -20.29M -22.67M -18.42M -9.62M
Income Before Tax 98.7M 75.52M 66.3M 87.5M
Income Tax Expense 28.52M 27.59M 18.93M 24.12M
Minority Interest 235k 148k 114k 124k
Net Income From Continuing Ops 70.18M 47.93M 47.38M 63.38M
Discontinued Operations - - - -
Extraordinary Items - - - -
Effect Of Accounting Charges - - - -
Other Items - - - -
Net Income 70.09M 47.85M 47.33M 63.37M
Net Income Applicable To Common Shares 70.09M 47.85M 47.33M 63.37M

Balance Sheet Statement

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

30 Jun 2022 30 Jun 2021 30 Jun 2020 30 Jun 2019
Cash 24.14M 19.94M 16.69M 15.99M
Net Receivables 128.4M 103.95M 100.77M 87.81M
Inventory 8.67M 7.44M 6.02M 5.01M
Other Current Assets 788k - - -
Total Current Assets 162.18M 131.32M 123.47M 108.8M
Long Term Investments 12.6M 7.51M 7.84M -
Property Plant Equipment 405.2M 404.19M 412.79M 106.71M
Good Will 306.12M 295.5M 301.28M 212.74M
Intangible Assets 195.55M 195.88M 197.68M 152.41M
Other Assets 6.94M 6.83M 7.35M 3.98M
Total Assets 1.09B 1.04B 1.05B 584.65M
Accounts Payable 48.42M 44.97M 44.56M 34.17M
Other Current Liab 121.45M 61.59M 57.9M 40.79M
Long Term Debt 176.21M 164.49M 216.48M 172.41M
Other Liab 48.18M 94.84M 77.27M 45.17M
Minority Interest 235k 148k 114k 124k
Total Current Liabilities 232.19M 163.24M 159.45M 92.93M
Total Liab 731.97M 703.13M 733.64M 310.64M
Common Stock 184.35M 182.57M 180.63M 126.44M
Retained Earnings 173.94M 163.52M 142.75M 157.23M
Treasury Stock -1.91M -8.14M -6.71M -9.78M
Other Stockholder Equity -1.91M -8.14M -6.71M -9.78M
Total Stockholder Equity 356.38M 337.95M 316.67M 273.89M
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 2022 30 Jun 2021 30 Jun 2020 30 Jun 2019
Net Income 70.09M 47.85M 47.33M 63.37M
Depreciation 62.24M 59.88M 46.65M 14.59M
Change To Netincome -2.45M 16.98M 29.48M -231k
Change To Account Receivables -20.91M -5.1M -5.1M -7.77M
Change To Liabilities 15.43M 17.15M - 2.46M
Change To Inventory -2.5M -1.41M -1.41M -139k
Total Cash From Operating Activities 123.68M 133.22M 127.17M 76.01M
Capital Expenditures -23.02M -12.36M -18.32M -16.84M
Investments 256k 3.35M -6.27M 2.48M
Other Cashflows From Investing Activities 2k -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 -92.3M 20.85M 9.42M
Total Cash From Financing Activities -82.11M -117.21M -2.48M -36.83M
Effect Of Exchange Rate 400k -87k 264k -672k
Change In Cash 4.2M 3.25M 700k 8.58M
Issuance Of Stock 1.78M 799k 24.13M 748k