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Statements

Statement of comprehensive income

For the period ended 30 June 2019

Consolidated

CSIRO

2019

2018

2019

2018

NET COST OF SERVICES

Notes

$'000

$'000

$'000

$'000

Expenses

Employee benefits

1.1A

763,169

699,295

760,029

697,888

Suppliers

1.1B

482,954

443,153

483,718

447,790

Depreciation and amortisation

2.2A

148,019

181,609

147,861

181,455

Finance leases

1,430

1,562

1,403

1,547

Impairment allowance on financial instruments

1.1C

536

1,093

536

684

Write-down and impairment of other assets

1.1D

13

5,910

13

5,910

Losses from asset sales

2,847

15,087

2,847

15,087

Total expenses

1,398,968

1,347,709

1,396,407

1,350,361

Own-Source Income

Own-source revenue

Sale of goods and rendering of services

1.2

410,432

384,554

435,475

405,190

Bank and term deposits interest

1.2

13,501

10,572

10,536

7,944

Rental income

1.2

10,546

11,001

10,546

11,001

Royalties and licence fees

1.2

34,427

43,175

34,427

43,175

Other revenues

1.2

28,961

35,864

25,453

31,832

Sale of investments and intellectual property

1.2

12,094

1,943

11,498

-

Total own-source revenue

509,961

487,109

527,935

499,142

Gains

Gain on recognition of assets

1.2

-

66

-

66

Gain/(loss) on foreign exchange- non-speculative

1.2

117

(828)

238

(746)

Gain/(loss) on revaluation of investment properties

1.2

2,375

(1,413)

2,375

(1,413)

Gain/(loss) on valuation of equity investments

1.2

14,660

-

(1,497)

-

Total gains

17,152

(2,175)

1,116

(2,093)

Total own-source income

527,113

484,934

529,051

497,049

Net cost of services

(871,855)

(862,775)

(867,356)

(853,312)

Revenue from Government

1.2

834,561

793,549

834,561

793,549

Surplus/(deficit)

(37,294)

(69,226)

(32,795)

(59,763)

OTHER COMPREHENSIVE INCOME

Items not subject to subsequent reclassification to net cost of services - change in asset revaluation reserves

1.3A

30,943

110,554

30,943

110,554

Items subject to subsequent reclassification to net cost of services - change in other reserves

1.3B

(15,256)

9,853

(5,982)

5,617

Total other comprehensive income

15,687

120,407

24,961

116,171

Total comprehensive income/(loss)

(21,607)

51,181

(7,834)

56,408

Profit for the year is attributable to:

Non-controlling interest

4,316

-

-

-

CSIRO

(41,610)

(69,226)

(32,795)

(59,763)

Total surplus/(deficit)

(37,294)

(69,226)

(32,795)

(59,763)

Total comprehensive income for the year is attributable to:

Non-controlling interest

4,316

-

-

-

CSIRO

(25,923)

51,181

(7,834)

56,408

Total comprehensive income/(loss)

(21,607)

51,181

(7,834)

56,408

The above Statement should be read in conjunction with the accompanying notes.

Statement of financial position

As at 30 June 2019

Consolidated

CSIRO

2019

2018

2019

2018

Notes

$'000

$'000

$'000

$'000

ASSETS

Financial Assets

Cash and cash equivalents

320,075

321,647

198,829

183,974

Trade and other receivables

2.1A

76,295

84,165

72,486

80,801

Other investments

2.1B

145,805

77,516

125,335

98,714

Total financial assets

542,175

483,328

396,650

363,489

Non-Financial Assets

Land and buildings

2.2A

1,564,162

1,625,607

1,564,162

1,625,607

Heritage and cultural

2.2A

4,463

4,463

4,463

4,463

Plant and equipment

2.2A

563,342

548,632

563,143

548,296

Intangibles

2.2A

16,740

16,573

16,740

16,573

Investment properties

2.2B

52,072

49,697

52,072

49,697

Inventories

1,265

1,440

1,265

1,440

Other non-financial assets

2.2C

50,060

44,295

50,152

44,271

Total non-financial assets

2,252,104

2,290,707

2,251,997

2,290,347

Properties held for sale

59,200

5,200

59,200

5,200

Total assets

2,853,479

2,779,235

2,707,847

2,659,036

LIABILITIES

Payables

Suppliers

2.3A

72,519

83,844

72,695

82,112

Other payables

2.3B

151,602

142,332

145,239

136,361

Total payables

224,121

226,176

217,934

218,473

Interest Bearing Liabilities

Finance leases

2.4A

27,337

31,968

27,337

31,968

Deposits

2.4B

23,310

12,315

27,364

12,336

Total Interest bearing liabilities

50,647

44,283

54,701

44,304

Provisions

Employee provisions

3.1A

238,498

218,956

238,374

218,774

Provision for remediation

41,020

29,815

41,020

29,815

Total provisions

279,518

248,771

279,394

248,589

Total liabilities

554,286

519,230

552,029

511,366

Net assets

2,299,193

2,260,005

2,155,818

2,147,670

EQUITY

Contributed equity

300,954

290,954

300,646

290,646

Asset revaluation reserves

1,523,229

1,492,286

1,523,229

1,492,286

Other reserves

(27)

15,229

-

5,982

Retained surplus

435,198

461,536

331,943

358,756

Non-controlling interest

39,839

-

-

-

Total equity

2,299,193

2,260,005

2,155,818

2,147,670

The above Statement should be read in conjunction with the accompanying notes.

Statement of changes in equity – consolidated

For the period ended 30 June 2019

Retained earnings

Asset revaluation reserve

Other reserves

Contributed equity/capital

Non-controlling interest

Total equity

2019

2018

2019

2018

2019

2018

2019

2018

2019

2018

2019

2018

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

Opening balance

461,536

530,762

1,492,286

1,381,732

15,229

5,376

290,954

280,954

-

-

2,260,005

2,198,824

Comprehensive income

Other comprehensive income1

15,272

-

30,943

110,554

(15,256)

9,853

-

-

-

-

30,959

120,407

Surplus/(deficit) for the period

(41,610)

(69,226)

-

-

-

-

-

-

4,316

-

(37,294)

(69,226)

Total comprehensive income/(loss)

(26,338)

(69,226)

30,943

110,554

(15,256)

9,853

-

-

4,316

-

(6,335)

51,181

Other movements

-

-

-

-

-

-

-

-

-

-

-

Contributions by owners

Equity injection

-

-

-

-

-

-

10,000

10,000

35,523

-

45,523

10,000

Contributions by owners – other

-

-

-

-

-

-

-

-

-

-

-

-

Closing balance

435,198

461,536

1,523,229

1,492,286

(27)

15,229

300,954

290,954

39,839

-

2,299,193

2,260,005

The above Statement should be read in conjunction with the accompanying notes.

1. Refer to Note 1.3.

Accounting Policy

Equity Injections

Amounts that are designated as equity injections for a year are recognised directly in contributed equity in that year.

Non-controlling interests

Non-controlling interests refer to equity in a subsidiary that is not attributable (directly or indirectly) to CSIRO as parent. CSIRO holds a non-controlling interest in the CSIRO Innovation Fund.

Statement of changes in equity – CSIRO

For the period ended 30 June 2019

Retained earnings

Asset revaluation reserve

Other reserves

Contributed equity/capital

Non-controlling interest

Total equity

2019

2018

2019

2018

2019

2018

2019

2018

2019

2018

2019

2018

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

$'000

Opening balance

358,756

418,519

1,492,286

1,381,732

5,982

365

290,646

280,646

-

-

2,147,670

2,081,262

Comprehensive income

Other comprehensive income1

5,982

-

30,943

110,554

(5,982)

5,617

-

-

-

-

30,943

116,171

Surplus/(deficit) for the period

(32,795)

(59,763)

-

-

-

-

-

-

-

-

(32,795)

(59,763)

Total comprehensive income/(loss)

(26,813)

(59,763)

30,943

110,554

(5,982)

5,617

-

-

-

-

(1,852)

56,408

Contributions by owners

Equity injection

-

-

-

-

-

-

10,000

10,000

-

-

10,000

10,000

Contributions by owners – other

-

-

-

-

-

-

-

-

-

-

-

-

Closing balance

331,943

358,756

1,523,229

1,492,286

-

5,982

300,646

290,646

-

-

2,155,818

2,147,670

The above Statement should be read in conjunction with the accompanying notes.

1. Refer to Note 1.3

Cash flow statement

For the period ended 30 June 2019

Consolidated

CSIRO

2019

2018

2019

2018

$'000

$'000

$'000

$'000

OPERATING ACTIVITIES

Cash received

Receipts from Government

832,641

793,549

832,641

793,549

Sale of goods and rendering of services

545,055

502,153

557,414

524,053

Interest

13,841

9,833

10,967

7,468

Net GST received

17,900

14,947

19,031

17,073

Deposits

9,329

7,138

13,362

3,992

Total cash received

1,418,766

1,327,620

1,433,415

1,346,135

Cash used

Employees

742,886

697,537

739,716

696,223

Suppliers

552,049

486,039

552,034

497,370

Finance costs

1,430

1,562

1,403

1,547

Total cash used

1,296,365

1,185,138

1,293,153

1,195,140

Net cash from operating activities

122,401

142,482

140,262

150,995

INVESTING ACTIVITIES

Cash received

Proceeds from sales of property, plant and equipment

967

5,090

988

5,074

Proceeds from sales of equity investments and intellectual property

6,147

5,391

425

-

Total cash received

7,114

10,481

1,413

5,074

Cash used

Purchase of property, plant and equipment

119,647

116,631

119,647

116,510

Equity investments

52,250

18,696

12,492

10,800

Other selling costs

82

69

50

69

Total cash used

171,979

135,396

132,189

127,379

Net cash used in investing activities

(164,865)

(124,915)

(130,776)

(122,305)

FINANCING ACTIVITIES

Cash received

Contributed equity

45,523

10,000

10,000

10,000

Total cash received

45,523

10,000

10,000

10,000

Cash used

Finance leases

4,631

5,787

4,631

5,787

Total cash used

4,631

5,787

4,631

5,787

Net cash from financing activities

40,892

4,213

5,369

4,213

Net increase (decrease) in cash held

(1,572)

21,780

14,855

32,903

Cash and cash equivalents at the beginning of the reporting period

321,647

299,867

183,974

151,071

Cash and cash equivalents at the end of the reporting period

320,075

321,647

198,829

183,974

The above Statement should be read in conjunction with the accompanying notes.