AUB Group Limited Annual Report 2023

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 JUNE 2023

3 OPERATING SEGMENTS (CONTINUED) UNPAT reconciles to the Profit after income tax attributable to equity holders of the parent (Reported NPAT) within the Statement of Comprehensive Income (SOCI) as follows:

2023 $’000

2022 $’000

Notes

Net Profit after tax attributable to equity holders of the parent

SOCI

65,253

80,836

Add back/(less) (net of NCI and income tax): – Amortisation of broking registers

30,352

11,143

– Adjustments to value of entities (to fair value) on the day they became controlled entities

(29,796)

(41,046)

– Remeasurement of put option liability (net of Interest unwind)

3,620

1,104

– Impairment charge

5,473

7,537

– Movements in contingent consideration, net of impairment charge

39,912

(337)

– (Profit)/Loss on deconsolidation of controlled entity, sale/dilution of associates and portfolios

(25,315)

(5,894)

– Impairment of the Right of Use Asset and Onerous Lease Expense

251

219

– Acquisition related expenses

39,355

20,456 74,018

Underlying Net Profit After Tax

129,105

Represented by: Underlying profit pre tax

180,643

106,086

Tax Expense

(51,538)

(32,068)

Underlying Net Profit After Tax

129,105

74,018

30 June 2023 New Zealand Broking $’000

Australian Broking $’000

Support Services $’000 41,924 2,883 44,807

Agencies $’000

Tysers $’000

Total $’000

Segment Financial Performance

Inter-segment revenue**

5,618

–

–

–

47,542 791,743 839,285

Revenue from external customers Total revenue and other income Share of Net Underlying Profits of Associates accounted for using the equity method before amortisation on broking registers and income tax expense Less: Expenses Total underlying cost to provide services and administrative expenses* Total income

279,517 285,135

137,584 137,584

60,690 60,690

311,069 311,069

41,069

2,855

1,287

(325)

12,480 57,287

57,366

326,204

140,439

61,977

310,744

896,651

(175,097) (21,450)

(88,696)

(37,824) (6,050)

(211,203) (20,042)

(65,955)

(578,775) (47,542)

Inter-segment expenses**

–

–

Interest paid and other borrowing costs

(741)

(58)

(1,196) (2,640)

(992)

(41,686)

(44,673) (45,018) 180,643

Non-controlling interest

(24,165)

(16,635) 35,050

(1,578)

–

Underlying Net Profit Before Tax

104,751

14,267

76,929

(50,354)

* Excludes non-operating expenses, refer to preceding table for reconciliation between statutory profit and underlying profit after tax. ** Management fees and interest on loans are recognised as revenue within the Support services segment, and as an expense within other segments.

AUB GROUP ANNUAL REPORT 2023

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