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New Zealand Economic and Financial Overview 2012

Performance of Government Enterprises

The following tables show the Government's financial interest in SOEs and Crown Entities.

Except for those entities listed below, all SOEs and significant Crown Entities have a balance date of 30 June, and the information reported in these tables is for the period ended 30 June 2011.

Table 25 - Performance of Government Enterprises
  Balance date Information reported to

State-Owned Enterprises

   
Asure New Zealand Limited 30 September 30 June 2011

Crown Entities

   
School boards of trustees 31 December 31 December 2010
Tertiary education institutions 31 December 30 June 2011
Table 26 - Performance of Government Enterprises (continued)
  30 June 2011 30 June 2010
  Revenue (excl gains) Expenses (excl  losses) Operating balance Distributions to Crown Revenue (excl gains) Expenses (excl losses) Operating balance Distributions to Crown
  (dollar amounts in millions)

State-owned enterprises

               
Airways Corporation of New Zealand Limited 152 147 5 6 145 146 (1) 5
AsureQuality Limited 148 141 8 5 136 133 4 5
Electricity Corporation of New Zealand Limited - - - - - - - -
Genesis Power Limited 1,777 1,742 53 - 1,875 1,834 69 39
Landcorp Farming Limited 3 189 117 18 7 163 (6) 10
Meridian Energy Limited 2,056 1,805 303 684 2,064 1,787 184 353
Meteorological Service of New Zealand Limited 38 35 3 2 37 34 2 1
Mighty River Power Limited 1,153 1,002 128 95 1,097 1,003 80 286
New Zealand Post Limited 1,824 1,860 (36) 11 1,639 1,662 1 6
New Zealand Railways Corporation 1,016 845 34 - 1,106 914 173 -
Solid Energy New Zealand Limited 833 776 87 20 690 646 68 54
Timberlands West Coast Limited - - - - - - - -
Transpower New Zealand Limited 737 568 78 - 735 541 65 -
Kordia Group Limited 294 308 (15) - 258 257 (1) -
Animal Control Products Limited 7 6 2 1 6 6 1 1
Learning Media Limited 23 23 1 - 24 22 2 -
Quotable Value New Zealand 46 50 (3) - 46 47 1 1
AMI Insurance Limited 157 177 (20) - - - - -
Total State-owned enterprises 10,264 9,674 746 842 9,865 9,195 642 761
Air New Zealand Limited 4,374 4,132 31 76 4,083 3,991 96 70
Total State-owned enterprises and Air New Zealand Limited 14,638 13,806 777 918 13,948 13,186 738 831
Intra-segmental eliminations (392) (357) (450) - (369) (374) (103) -
Total per statement of segments 14,246 13,449 327 918 13,579 12,812 635 831

Crown Entities

               
Accident Compensation Corporation 5,643 4,047 3,548 - 5,281 3,931 2,500 -
Crown Research Institutes 684 667 18 1 688 693 (12) 1
District Health Boards (including the Crown Health Funding Agency) 11,717 11,727 (8) - 11,255 11,359 (91) -
Earthquake Commission 4,624 11,817 (7,083) - 434 107 363 -
Housing New Zealand Corporation 1,283 948 275 71 998 1,670 (691) 132
Museum of New Zealand Te Papa 45 59 (12) - 47 60 (12) -
New Zealand Fire Service Commission 330 324 2 - 313 303 9 -
New Zealand Transport Agency 1,918 1,965 (46) - 1,995 1,980 15 -
Public Trust 88 95 1 - 91 96 5 -
Schools 6,334 6,309 20 - 6,190 6,166 19 -
Tertiary Education Commission 2,799 2,792 7 10 2,858 2,842 16 14
TEIs - - 168 - - - 208 -
Television New Zealand 377 366 - 5 357 385 (26) 1
Other Crown entities 2,997 2,850 136 7 3,081 2,919 173 9
Total Crown entities 38,839 43,966 (2,974) 94 33,588 32,511 2,476 157
Intra-segmental eliminations (803) (638) (169) - (942) (844) (103) -
Total per statement of segments 38,036 43,328 (3,143) 94 32,646 31,667 2,373 157
Total financial interest in SOEs, Crown entities and Air New Zealand Limited 52,282 56,777 (2,816) 1,012 46,225 44,479 3,008 988
Table 27 - Performance of Government Enterprises (continued)
  30 June 2011 30 June 2010
  Purchase of PPE Total PPE Total assets Borrowings Total Liabilities Equity Equity
  (dollar amounts in millions)

State-owned enterprises

             
Airways Corporation of New Zealand Limited 11 106 137 32 93 44 45
AsureQuality Limited 5 30 67 7 32 35 32
Electricity Corporation of New Zealand Limited - - 1 - - 1 2
Genesis Power Limited 876 3,090 3,677 1,288 1,965 1,712 1,446
Landcorp Farming Limited 59 1,217 1,661 283 306 1,355 1,237
Meridian Energy Limited 252 7,721 8,452 1,879 3,521 4,931 5,070
Meteorological Service of New Zealand Limited 8 25 37 15 23 14 13
Mighty River Power Limited 174 4,750 5,350 1,383 2,443 2,907 2,680
New Zealand Post Limited 47 348 14,661 13,734 14,014 647 685
New Zealand Railways Corporation 653 13,284 13,570 621 932 12,638 12,393
Solid Energy New Zealand Limited 116 649 1,127 235 608 519 444
Timberlands West Coast Limited - - - - - - 6
Transpower New Zealand Limited 471 3,376 4,198 2,259 2,637 1,561 1,482
Kordia Group Limited 15 109 234 84 153 81 96
Animal Control Products Limited - 3 8 - 2 6 5
Learning Media Limited - 1 15 - 9 6 6
Quotable Value New Zealand - 1 28 1 8 20 22
AMI Insurance Limited 2 36 2,256 - 2,040 216 -
Total State-owned enterprises 2,689 34,746 55,479 21,821 28,786 26,693 25,664
Air New Zealand Limited 723 2,540 4,458 1,428 3,431 1,027 1,473
Total State-owned enterprises and Air NewZealand Limited 3,412 37,286 59,937 23,249 32,217 27,720 27,137
Intra-segmental eliminations (822) (461) (577) (150) (97) (480) (257)
Total per statement of segments 2,590 36,825 59,360 23,099 32,120 27,240 26,880

Crown Entities

             
Accident Compensation Corporation 28 63 21,804 9 28,511 (6,707) (10,252)
Crown Research Institutes 54 510 737 34 235 502 485
District Health Boards (including the Crown Health Funding Agency) 614 4,645 7,717 3,568 5,584 2,133 2,115
Earthquake Commission 11 22 9,453 - 10,610 (1,157) 5,935
Housing New Zealand Corporation 271 15,018 15,568 1,990 3,957 11,611 11,516
Museum of New Zealand Te Papa 9 1,140 1,168 - 10 1,158 1,122
New Zealand Fire Service Commission 47 546 595 10 98 497 494
New Zealand Transport Agency 1,348 25,146 25,516 110 489 25,027 24,954
Public Trust 4 9 908 874 886 22 20
Schools 51 1,305 2,551 126 810 1,741 1,728
Tertiary Education Commission - 3 75 20 55 20 24
TEIs - - 7,968 - - 7,968 7,740
Television New Zealand 7 136 264 11 80 184 190
Other Crown entities 24 322 1,429 41 620 809 657
Total Crown entities 2,468 48,865 95,753 6,793 51,945 43,808 46,728
Intra-segmental eliminations (6) (385) (2,095) (1,670) (1,717) (378) (236)
Total per statement of segments 2,462 48,480 93,658 5,123 50,228 43,430 46,492
Total financial interest in SOEs, Crown entities and Air New Zealand Limited 5,052 85,305 153,018 28,222 82,348 70,670 73,372

Source: the Treasury

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