Bradken Limited Annual Report 2015 - page 48

13 l BRADKEN LIMITED ANNUAL REPORT 2015
DIRECTORS’ REPORT
Bradken Limited
Directors' report (continued)
30 June 2015
C. Remuneration report (continued)
Relationship between remuneration and Bradken Limited's performance
2011
2012
2013
2014
2015
189,422
220,402
183,604
143,004
109,700
196,059
220,402
214,016
173,289
136,119
67,561
100,533
66,937
21,480
(241,295)
87,082
100,533
96,054
55,079
33,900
47.6
60.5
39.6
12.7
(141.1)
59,821
68,747
64,311
44,199
-
88.5% 68.4% 96.1% 205.8% 0.0%
7.96
5.19
4.31
3.80
1.435
11% -35% -17% -12% -62%
3.2% 1.7% 1.2% 2.5% 4.3%
Dividend payout ratio (%)
The graphs below illustrate two of the key links between key management personnel remuneration and Bradken Limited’s
performance.
The first two graphs illustrate the link between Bradken Limited’s net profit before tax and EBITDA, both unadjusted and
underlying, compared to payments made under the STI plan. In the 2011 year STI payouts were calculated against underlying
NPAT and underlying EBITDA.
* Profit before tax is profit from continuing operations before income tax expense.
** STI % of target reflects the percentage of the target STI pool that was paid out to executives.
The last graph illustrates the operation of the long-term incentive plan by comparing Bradken Limited's TSR performance to the
median TSR of the ASX Small Industrials Index (see page 14 below) over the last five years.
Dividends shown above and the payout ratio calculated is in respect to profit earned for the year.
BKN Y/E Share Price ($'s)
Increase/(decrease) in share price (%)
The following table shows key performance indicators for the group over the last five years:
Profit / (Loss) for the year attributable to
owners of Bradken Limited ($’000)
Dividends ($’000)
Total KMP incentives as percentage of
underlying profit/ (loss) for the year (%)
Underlying EBITDA ($'000)
Underlying profit / (loss) for the year attributable to
owners of Bradken Limited ($’000)
Basic earnings / (loss) per share (cents)
Unadjusted EBITDA ($'000)
NPAT ($M)
STI ($K)
STI & NPAT Comparative Analysis
250
150
50
-50
-150
-250
1,250
750
250
-250
-750
-1,250
2009 2010 2011 2012 2013 2014 2015
Statutory NPAT Underlying NPAT STI
STI ($K)
STI ($K)
STI & EBITDA Comparative Analysis
250
200
150
100
50
0
800
600
400
200
0
2009 2010 2011 2012 2013 2014 2015
Statutory EBITDA Underlying EBITDA STI
Annualised Median TSR
(%)
75
50
25
0
-25
-50
-75
-100
2009 2010 2011 2012 2013 2014 2015
ASX Small Industrials Median Bradken Limited
Note: 2012 was the last partial vesting year as indicated at the 50th percentile.
For full vesting to occur, the 75th percentile must be achieved.
1...,38,39,40,41,42,43,44,45,46,47 49,50,51,52,53,54,55,56,57,58,...131
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