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New Zealand Economic and Financial Overview 2014

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 2013.

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

State-Owned Enterprises

   
Asure New Zealand Limited 30 September 30 June 2013

Crown Entities

   
New Zealand Symphony Orchestra 31 December 30 June 2013
School boards of trustees 31 December 31 December 2013
Tertiary education institutions 31 December 30 June 2013
Table 26 - Performance of Government Enterprises
  30 June 2013 30 June 2012
(dollar amounts in millions) Revenue
(excl gains)

Expenses
(excl losses)

Operating
balance

Distributions
to Crown
Revenue
(excl gains)
Expenses
(excl losses)
Operating
balance
Distributions
to Crown

State-Owned Enterprises

               
Airways Corporation of New Zealand Limited 183 161 22 2 164 154 9 5
AsureQuality Limited 160 151 10 8 154 148 7 7
Genesis Energy Limited 2,007 1,993 100 57 2,233 2,163 90
Landcorp Farming Limited 195 190 (18) 20 3 181 (9) 28
Meridian Energy Limited 2,714 2,614 295 100 2,577 2,530 75 141
Meteorological Service of New Zealand Limited 42 39 3 1 42 40 1 1
Mighty River Power Limited 1,372 1,345 115 112 1,499 1,309 70 121
New Zealand Post Limited 2,212 2,171 121 14 1,836 1,785 170 12
KiwiRail Holdings Limited 912 971 (45) 890 3,173 (1,812)
Solid Energy New Zealand Limited 634 972 (334) 983 1,063 (40) 30
Transpower New Zealand Limited 917 693 264 363 795 581 85 110
Kordia Group Limited 309 306 4 2 398 386 12 1
Animal Control Products Limited 4 4 1 6 5 1 1
Learning Media Limited 19 19 (1) 27 28 (1)
Quotable Value New Zealand 43 44 1 6 46 44 3
AMI Insurance Limited 262 422 (25)
New Zealand Railways Corporation 1 (1)
Total State-owned enterprises 11,723 11,674 536 686 11,915 14,012 (1,364) 457
Air New Zealand Limited 4,650 4,404 344 71 4,508 4,286 208 49
Total State-owned enterprises and Air New Zealand Limited 16,373 16,078 880 757 16,423 18,298 (1,156) 506
Intra-segmental eliminations (437) (326) (266) (392) (674) (267)
Total per statement of segments 15,936 15,752 614 757 16,031 17,624 (1,423) 506

Crown Entities

               
Accident Compensation Corporation 5,687 4,246 4,929 5,649 4,124 (474)
Crown Asset Management 27 10 77 1 1
Crown Fibre Holdings Limited 11 109 (98) 3 24 (21)
Crown Research Institutes 782 759 21 705 675 21 2
District Health Boards (including the Crown Health Funding Agency) 12,725 12,457 267 12,161 12,199 (25)
Earthquake Commission 160 (16) 175 729 1,112 (436)
Housing New Zealand Corporation 1,125 974 178 77 1,096 907 120 68
Museum of New Zealand Te Papa 53 59 (6) 54 60 (7)
New Zealand Fire Service Commission 355 327 29 339 317 21
New Zealand Lotteries Commission 901 698 202 904 712 190
New Zealand Transport Agency 2,056 2,003 57 1,995 1,955 38
Public Trust 78 82 10 87 89 8
Schools 6,640 6,597 36 6,608 6,562 38
Southern Response Earthquake Services 61 1 52 5 243 (164)
Tertiary Education Commission 2,759 2,749 6 6 2,763 2,725 37 36
TEIs 169 134
Television New Zealand 361 342 14 11 382 363 8 14
Other Crown entities 1,692 1,689 24 4 1,705 1,708 18 5
Total Crown entities 35,473 33,086 6,142 98 35,185 33,776 (493) 125
Intra-segmental eliminations (409) (225) (265) (714) (556) (148)
Total per statement of segments 35,064 32,861 5,877 98 34,471 33,220 (641) 125
Total financial interest in SOEs, Crown entities and Air New Zealand Limited 51,000 48,613 6,491 855 50,502 50,844 (2,064) 631
Table 27 - Performance of Government Enterprises (continued)
  30 June 2013 30 June 2012
(dollar amounts in millions) Purchase
of PPE
Total PPE Total assets Borrowings Total Liabilities Equity Equity

State-Owned Enterprises

             
Airways Corporation of New Zealand Limited 24 114 149 32 81 68 47
AsureQuality Limited 4 27 74 12 36 38 35
Genesis Energy Limited 162 3,192 3,750 1,064 1,801 1,949 1,801
Landcorp Farming Limited 64 1,217 1,685 354 367 1,318 1,332
Meridian Energy Limited 251 6,769 7,725 1,377 3,037 4,688 4,825
Meteorological Service of New Zealand Limited 2 24 40 15 23 17 14
Mighty River Power Limited 201 5,141 5,802 1,394 2,620 3,182 3,017
New Zealand Post Limited 18 186 16,108 14,795 15,165 943 813
KiwiRail Holdings Limited 482 1,412 1,629 224 422 1,207 3,460
Solid Energy New Zealand Limited 55 476 859 412 767 92 423
Transpower New Zealand Limited 687 4,451 5,471 3,652 4,033 1,438 1,536
Kordia Group Limited 20 87 219 60 126 93 91
Animal Control Products Limited 3 6 1 5 6
Learning Media Limited 1 6 3 3 5
Quotable Value New Zealand 1 25 7 18 23
AMI Insurance Limited
New Zealand Railways Corporation 3,273 3,273 3,273
Total State-owned enterprises 1,970 26,374 46,821 23,391 28,489 18,332 17,428
Air New Zealand Limited 311 2,941 5,679 1,641 3,798 1,881 1,584
Total State-owned enterprises and Air New Zealand Limited 2,281 29,315 52,500 25,032 32,287 20,213 19,012
Intra-segmental eliminations (812) (1,289) (193) (222) (1,067) (410)
Total per statement of segments 2,281 28,503 51,211 24,839 32,065 19,146 18,602

Crown Entities

             
Accident Compensation Corporation 124 39 28,618 185 30,872 (2,254) (7,182)
Crown Asset Management 17 124 7 117 98
Crown Fibre Holdings Limited 71 143 245 5 240 157
Crown Research Institutes 52 499 813 3 259 554 526
District Health Boards (including the Crown Health Funding Agency) 682 5,397 7,041 2,268 4,276 2,765 2,335
Earthquake Commission 7 21 5,454 6,871 (1,417) (1,593)
Housing New Zealand Corporation 183 16,370 17,240 1,976 3,913 13,327 11,979
Museum of New Zealand Te Papa 9 1,174 1,201 8 1,193 1,193
New Zealand Fire Service Commission 34 568 650 8 93 557 511
New Zealand Lotteries Commission 8 20 154 125 29 28
New Zealand Transport Agency 1,074 26,182 26,621 100 506 26,115 25,883
Public Trust 2 8 639 584 600 39 30
Schools 39 1,368 2,670 108 786 1,884 1,824
Southern Response Earthquake Services 1 1 1,756 1,751 5 (47)
Tertiary Education Commission 1 3 51 18 29 22 22
TEIs 8,060 8,060 7,914
Television New Zealand 4 103 245 1 59 186 183
Other Crown entities 22 184 1,104 29 411 693 777
Total Crown entities 2,330 52,080 102,686 5,280 50,571 52,115 44,638
Intra-segmental eliminations (16) (257) (282) (29) (59) 65 (416)
Total per statement of segments 2,314 51,823 102,404 5,251 50,512 52,180 44,222
Total financial interest in SOEs, Crown entities and Air New Zealand Limited 4,595 80,326 153,615 30,090 82,577 71,326 62,824

Source: The Treasury

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