101
CIMIC Group Limited Annual Report 2016 |
Financial Report
Notes continued
for the 12 months to 31 December 2016
2. REVENUE
Note
12 months to
December 2016
$m
12 months to
December 2015
$m
Construction contracting services
7,439.3
9,365.2
Mining contracting services and mineral processing
2,609.2
2,912.8
Property development revenue
323.5
875.7
Other revenue
474.7
119.3
Revenue from external customers
10,846.7
13,273.0
Dividends / distributions
6.9
7.8
Total revenue
31
10,853.6
13,280.8
3. EXPENSES
Note
12 months to
December 2016
$m
12 months to
December 2015
$m
Materials
(1,666.8)
(1,804.0)
Subcontractors
(3,641.6)
(4,470.7)
Plant costs
(901.2)
(954.1)
Personnel costs
(2,432.0)
(3,059.4)
Depreciation and impairment of property, plant and equipment
1
14
(304.9)
(496.6)
Amortisation of intangibles
15
(32.5)
(47.2)
Impairment of intangibles
15
(10.0)
(2.7)
Net gain / (loss) on sale of equity accounted investments
26
70.1
-
Net gain / (loss) on acquisition of controlled entities
29
46.6
-
Net gain / (loss) on disposal of controlled entities
-
25.4
Net gain / (loss) on sale of assets
(1.4)
(14.6)
Property development - cost of goods sold
2
(471.3)
(916.5)
Foreign exchange gains / (losses)
(1.3)
(1.4)
Operating lease payments - plant and equipment
(230.5)
(220.9)
Operating lease payments - other
(157.1)
(130.8)
Design, engineering and technical consulting fees
(53.3)
(44.5)
Gain on fair value of option to acquire shares
26
75.0
-
Other expenses
(339.0)
(289.4)
Total expenses
(10,051.2)
(12,427.4)
1
Plant and equipment depreciation includes impairments during the period of $nil (31 December 2015: $50.0 million) that arose due to a
decline in the recoverable amount of marine fleet that was idle in the Construction segment.
2
Property development – cost of goods sold includes write-downs of $nil (31 December 2015: $8.2 million).
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