ASX50 financial reporting insights: January-June 2016

ASX50 financial reporting insights: January-June 2016

This report analyses the financial reports of the ASX50 through the reporting season 1 January to 30 June 2016.

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The report provides review and analysis of key trends, with a focus on:

  • considering the financial performance of the ASX50 group of companies as an indicator of the economy in general
  • analysing trends by industry sector, with specific focus on the contribution of mining companies and the 'Big 4' banks; and
  • comparing and analysing earnings reported under statutory and non-statutory (underlying) measures.

All amounts are in Australian dollars, unless otherwise stated.

Key findings

  • Impairment charges have more than doubled since 2015. These charges are the most widespread and the largest in total since the start of this report, including the global financial crisis. Impairment charges for ASX50 totalled $38 billion for the 12 months, an increase of 134 percent from 2015. Impairment charges have been triggered by low commodity prices, significantly impacting major mining and resource businesses.
  • Over 75 percent of the ASX50 are reporting alternative measures of financial performance in addition to annual statutory profit. Pre-tax alternative profit results exceeded annual statutory profits by 61 percent ($35 billion). The main item excluded in arriving at alternative profit measures is impairment charges.
  • Compared to 2015, the ASX50 impairments have led to a 43 percent or $44 billion overall decrease in annual statutory profit before tax (PBT) for the 12 months to June 2016.

ASX50 financial reporting insights

Analysis of the financial results of the top 50 companies listed on the Australian Securities Exchange (ASX).

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