Freightways Limited (NZX:FRE) Annual Report 2021



The latest annual report of Freightways Limited (FRE) was published on 30 Jun 2021. 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
800.53M
Gross Profit
264.55M
EBIT
122.94M
Net Tangible Assets
-153.43M
Net Income
49.55M
Capital Expenditures
-12.36M

FRE Income Statement 2021 Annual Report

As per the latest Income Statement of FRE, the Net revenue increased by $169.59M (27%) compared to the previous period. The operating income in 2021 increased by $28.62M (30%). The net income as per the annual report was 49.55M which increased by $2.22M (5%) compared to previous year.

Income Statement Report (2021/2020)

20212020
Total Revenue800.53M630.94M
Gross Profit264.55M209.48M
Operating Income122.94M94.32M
Income Before Tax77.22M66.3M
Net Income49.55M47.33M

Balance Sheet - FRE 2021 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 $3.25M (20%). The Net tangible assets of FRE on the balance sheet were at -153.43M which is $28.87M (16%) more than previous annual report. The total stockholder equity also increased by $24.41M (8%) compared to previous reporting period.

Balance Sheet Statement Report (2021/2020)

20212020
Cash19.94M16.69M
Total Assets1.04B 1.05B
Long Term Debt163.7M216.48M
Total Liabilities703.13M 733.64M
Total Shareholder Equity341.07M316.67M
Net Tangible Assets-153.43M-182.3M

Cash Flow Statement - FRE 2021 Annual Report

The 2021 annual cash flow statement of Freightways Limited showed that the net income increased by $2.22M (5%) compared to previous reporting period. Also the capital expenditure of FRE increased by $5.96M (33%).

As of 2021, the total cash from investing activities was -14.46M and total cash from financing activities was -117.21M.

Cash Flow Statement Report (2021/2020)

20212020
Net Income49.55M47.33M
Capital Expenditures-12.36M-18.32M
Dividends Paid-25.66M-47.4M
Total Cash From From Investing Activities-14.46M-124.25M
Total Cash From From Financing Activities-117.21M-2.48M

Freightways Limited Annual Report History

Income Statement

Income Statement history of Freightways Limited (NZX:FRE)

30 Jun 202130 Jun 202030 Jun 201930 Jun 2018
Total Revenue800.53M630.94M615.69M580.89M
Cost Of Revenue535.99M421.46M416.44M388.97M
Gross Profit264.55M209.48M199.25M191.91M
Research Development----
Selling General Administrative76.92M64.81M87.03M84.18M
Non Recurring----
Other Operating Expenses----
Total Operating Expenses677.6M536.62M520.98M489.11M
Operating Income122.94M94.32M94.71M91.78M
Total Other Income Expense Net-45.71M-28.02M-7.21M-7.11M
Ebit122.94M94.32M94.71M91.78M
Interest Expense-22.67M-18.42M-9.62M-9.73M
Income Before Tax77.22M66.3M87.5M84.67M
Income Tax Expense27.59M18.93M24.12M22.5M
Minority Interest148k114k124k124k
Net Income From Continuing Ops49.63M47.38M63.38M62.16M
Discontinued Operations----
Extraordinary Items----
Effect Of Accounting Charges----
Other Items----
Net Income49.55M47.33M63.37M62.16M
Net Income Applicable To Common Shares49.55M47.33M63.37M62.16M

Balance Sheet Statement

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

30 Jun 202130 Jun 202030 Jun 201930 Jun 2018
Cash19.94M16.69M15.99M7.41M
Net Receivables103.95M100.77M87.81M82.15M
Inventory7.44M6.02M5.01M4.8M
Total Current Assets131.32M123.47M108.8M94.36M
Long Term Investments7.51M7.84M--
Property Plant Equipment404.19M412.79M106.71M103.1M
Good Will295.5M301.28M212.74M208.18M
Intangible Assets199M197.68M152.41M150.24M
Other Assets6.83M7.35M3.98M4.8M
Total Assets1.04B1.05B584.65M560.69M
Accounts Payable102.94M87.66M34.17M37.07M
Other Current Liab29.22M35.94M40.79M36.1M
Long Term Debt163.7M216.48M172.41M166.92M
Other Liab95.63M77.27M45.17M45.7M
Minority Interest148k114k124k-
Total Current Liabilities163.24M159.45M92.93M89.56M
Total Liab703.13M733.64M310.64M302.46M
Common Stock182.57M180.63M126.44M125.26M
Retained Earnings166.64M142.75M157.23M140.86M
Treasury Stock-8.14M-6.71M-9.78M-7.9M
Other Stockholder Equity-8.14M-6.71M-9.78M-7.9M
Total Stockholder Equity341.07M316.67M273.89M258.22M
Net Tangible Assets-153.43M-182.3M-91.27M-100.2M

Cash Flow Statement

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

30 Jun 202130 Jun 202030 Jun 201930 Jun 2018
Net Income49.55M47.33M63.37M62.16M
Depreciation59.8M46.65M14.59M13.73M
Change To Netincome20.77M29.48M-231k428k
Change To Liabilities--2.46M849k
Total Cash From Operating Activities135.01M127.17M76.01M75.71M
Capital Expenditures-12.36M-18.32M-16.84M-14.06M
Investments3.35M-6.27M2.48M464k
Other Cashflows From Investing Activities-213k-226k-470k-218k
Total Cashflows From Investing Activities-14.46M-124.25M-29.93M-24.86M
Dividends Paid-25.66M-47.4M-47M-45.37M
Net Borrowings-92.3M20.85M9.42M-7.63M
Other Cashflows From Financing Activities-44k-53k-53k-53k
Total Cash From Financing Activities-117.21M-2.48M-36.83M-52.3M
Effect Of Exchange Rate-87k264k-672k444k
Change In Cash3.25M700k8.58M-1.01M
Issuance Of Stock799k24.13M748k704k