ion?docID 1800877&query- Home Search Bookshelf SettingsSign O O Page 140 of 981
ID: 2817036 • Letter: I
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ion?docID 1800877&query- Home Search Bookshelf SettingsSign O O Page 140 of 981 HNANCAL ANALYSIS AND FORECASTING 3/ The table below appears on page 2 of the annual report of the Norne group. Key financials (unaudited, in millions of S, excluding earnings per share and dividends): 1996 1997 1998 1999 2000 13 289 20 27331 260 40112 100 789 Sales Net income: Recurring net income Items impacting comparability Total 957 515 91 410 584 105 0.87 698 1266 -287 493 -64 893 1.18 703 979 1.47 0.01-0.08-0.35 0.91 1.00 Recurring net income Items impacting 1.08 0.16 1.01 1.10 1.12 0.50 Total Dividend per share Total assets Cash from operating activities (excluding change in working capital) Capital expenditure Share price at 31 Dec 0.43 0.46 22 552 0.50 33 383 742 276 1873 2228 29 350 65 503 16 137 30 1314 1483 2092 95643085 83 21 29 ate your iews 12:24 AMExplanation / Answer
1996 1997 1998 1999 2000 CAGR Growth Sales 13289 20273 31260 40112 100789 65.95% Total Net income 584 105 703 893 979 13.79% EPS 1.08 0.16 1.01 1.10 1.12 0.91% Dividend per share 0.43 0.46 0.48 0.5 0.5 3.84% Dividend Payout % 40% 288% 48% 45% 45% Assets 16137 22552 29350 33381 65503 41.94% Cash from operating activities 742 276 1873 2228 3010 41.92% Capex 1483 2092 3564 3085 3314 22.27% Share Price 22 21 29 44 83 39.37% Div Yield % 1.95% 2.19% 1.66% 1.14% 0.60% The sales growth has been very robust at ~ 66%. The Net income growth has been more subdued at ~ 14%. The assets, cash from operating activities and growth in share price has been at a similar number of ~ 40% The company has maintained dividend payout at around 40%, but the dividend yield has reduced. In recent years, the capex almost equals cash from operating activities thus reducing burden on the company for financing the capex
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