Webjet Limited And Controlled Entities Webjet Limited ABN 68 002 013 612 Annual report for the financial year ended 30 June 2015 Webjet Limited And Controlled entities Contents Corporate information ............................................................................................................................................. 2 Directors’ report ....................................................................................................................................................... 3 Corporate governance statement .......................................................................................................................... 12 Auditors’ Independence Declaration ..................................................................................................................... 16 Directors’ Declaration ............................................................................................................................................ 17 Consolidated income statement for the financial year ended 30 June 2015 ......................................................... 18 Consolidated statement of comprehensive income for the year ended 30 June 2015 .......................................... 19 Consolidated balance sheet for the year ended 30 June 2015 ............................................................................. 20 Consolidated statement of changes in equity for the year ended 30 June 2015 ................................................... 21 Consolidated statement of cash flows for the year ended 30 June 2015 .............................................................. 22 Notes to the financial statements for the year ended 30 June 2015...................................................................... 23 1. General information ................................................................................................................................... 23 2. Application of new and revised Accounting Standards .............................................................................. 23 3. Significant accounting policies ................................................................................................................... 24 4. Critical accounting judgements and key sources of estimation uncertainty ............................................... 32 5. Segment information .................................................................................................................................. 33 6. Revenue .................................................................................................................................................... 34 7. Investment Income..................................................................................................................................... 34 8. Other gains and losses .............................................................................................................................. 34 9. Income taxes ............................................................................................................................................. 35 10. Profit for the year ....................................................................................................................................... 38 11. Trade Receivables ..................................................................................................................................... 38 12. Other financial assets ................................................................................................................................ 39 13. Other assets .............................................................................................................................................. 39 14. Property, Plant and Equipment .................................................................................................................. 40 15. Intangible assets ........................................................................................................................................ 41 16. Trade and other payables .......................................................................................................................... 43 17. Borrowings ................................................................................................................................................. 43 18. Provisions .................................................................................................................................................. 44 19. Other liabilities ........................................................................................................................................... 44 20. Issued capital ............................................................................................................................................. 45 21. Reserves .................................................................................................................................................... 46 22. Retained earnings ...................................................................................................................................... 46 23. Earnings per share..................................................................................................................................... 47 24. Dividends ................................................................................................................................................... 47 25. Contingent liabilities ................................................................................................................................... 48 26. Commitments ............................................................................................................................................. 48 27. Subsidiaries ............................................................................................................................................... 49 28. Deed of guarantee ..................................................................................................................................... 49 29. Investment in associates ............................................................................................................................ 52 30. Cash and cash equivalents ........................................................................................................................ 52 31. Financial instruments ................................................................................................................................. 53 32. Share based payments .............................................................................................................................. 57 33. Related party transactions ......................................................................................................................... 58 34. Business combinations .............................................................................................................................. 58 35. Events after reporting date ......................................................................................................................... 60 36. Parent entity information ............................................................................................................................ 60 37. Auditors’ remuneration ............................................................................................................................... 60 Independent Auditors’ Report ............................................................................................................................... 61 Additional securities exchange information as at 30 June 2015 ............................................................................ 63 1 Webjet Limited And Controlled entities Corporate information Registered Office Share Registry Level 2 Computershare Investor Services Pty Ltd 509 St Kilda Road Level 5 Melbourne Vic 3004 115 Grenfell Street Phone: (03) 9820 9214 Adelaide SA 5000 Email: [email protected] Phone: (08) 8236 2300 Principal Administrative Office Company Secretary Level 2 Michael Sheehy 509 St Kilda Road Level 2 Melbourne Vic 3004 509 St Kilda Road Melbourne Vic 3004 Solicitors Auditors Minter Ellison BDO Audit (SA) Pty Ltd 525 Collins Street Level 7, BDO Centre Melbourne Vic 3001 420 King William Street Adelaide SA 5000 Principal bankers Internet Address National Australia Bank www.webjet.com.au Level 30, 500 Bourke Street Melbourne Vic 3000 HSBC Level 10, 333 Collins Street Melbourne Vic 3000 2 Webjet Limited And Controlled entities Directors’ report The directors of Webjet Limited submit herewith the annual financial report of the company and controlled entities (the Consolidated Entity) for the financial year ended 30 June 2015. In order to comply with the provisions of the Corporations Act 2001, the directors report as follows: Information about the directors The names and particulars of the directors of the company during or since the end of the financial year are: David Clarke (Non-Executive Chairman) Held senior management positions with the Jetset travel Consolidated Entity from 1977 to 1995. He is regarded as pioneering the introduction of wholesale packaging through distribution access in Australia and overseas, the development of an integrated franchise structure and one of the highest ranking travel brands in Australia in the 1990s.