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APPENDIX EXPERIMENTAL ESTIMATES FOR AUXILIARY FINANCE AND INSURANCE SERVICES


OVERVIEW

1 This appendix contains experimental estimates for ANZSIC Subdivision 64 Auxiliary finance and insurance services for 2011-12, 2012-13 and 2013-14.

2 The reference period, scope, coverage and survey design for the experimental estimates in this appendix are the same as those found throughout this publication. Further details can be found in the Explanatory Notes.

3 The methodology for creating these experimental estimates is the same as for other industries in this publication. See Technical Note: Estimation Methodology for detailed information.

4 The data quality of this time series is susceptible to sampling and non-sampling errors, as per Technical Note: Data Quality. The relative standard errors for the 2013-14 experimental estimates for ANZSIC Subdivision 64 Auxiliary finance and insurance services are sales and service income (4.3%), total income (3.4%), wages and salaries (3.2%), total expenses (4.2%), employment (2.7%), operating profit before tax (5.5%), earnings before interest, tax, depreciation and amortisation (6.4%) and industry value added (3.5%).

5 The estimates in this appendix are considered experimental are subject to evaluation and therefore should be used with caution.

Key data, Auxiliary finance and insurance services
		Employment at end of June(a)	Wages and salaries(b)	Sales and service income(c)	Total income	Total expenses	Operating profit before tax(d)	EBITDA(d)(e)	Industry value added(d)
		'000	$m	$m	$m	$m	$m	$m	$m
Financial and insurance services
2011-12		157	12 107	39 749	47 498	39 264	^8 330	6 970	21 430
2012-13		147	11 470	38 574	48 127	36 810	11 291	7 423	21 060
2013-14		148	12 590	42 246	54 228	39 636	14 616	8 283	23 299
^ estimate has a relative standard error of 10% to less than 25% and should be used with caution
(a) Includes working proprietors and partners of unincorporated businesses.
(b) Includes capitalised wages and salaries, salary sacrificed earnings and remuneration in the form of share based payments and stock options; excludes the drawings of working proprietors.
(c) Includes rent, leasing and hiring income.
(d) See paragraph 5 of Technical Note: Data Quality.
(e) Earnings before interest tax depreciation and amortisation.

Labour costs, Auxiliary finance and insurance services
		Wages and salaries(a)	Employer contributions into superannuation	Workers' compensation premiums/costs	Selected labour costs	Fringe benefits tax	Payroll tax	Total labour costs
		$m	$m	$m	$m	$m	$m	$m
Financial and insurance services
2011-12		12 107	969	**106	13 182	*119	491	13 792
2012-13		11 470	889	46	12 405	67	439	12 911
2013-14		12 590	1 008	^53	13 650	68	482	14 200
^ estimate has a relative standard error of 10% to less than 25% and should be used with caution
* estimate has a relative standard error of 25% to 50% and should be used with caution
** estimate has a relative standard error of greater than 50% and is considered too unreliable for general use
(a) Includes capitalised wages and salaries, salary sacrificed earnings and remuneration in the form of share based payments and stock options; excludes the drawings of working proprietors.

Industry value added, Auxiliary finance and insurance services
			PLUS					LESS
				Capital work done for own use
		Sales and service income(a)	Funding from government for operational costs	Capitalised wages and salaries	Capitalised purchases	Total	Change in inventories	Purchases of goods and materials(b)	Other intermediate input expenses	Industry value added(c)
		$m	$m	$m	$m	$m	$m	$m	$m	$m
Financial and insurance services
2011-12		39 749	*156	44	8	52	^96	^2 293	16 330	21 430
2012-13		38 574	^50	^39	^5	^44	-27	^2 467	15 114	21 060
2013-14		42 246	*19	np	np	36	*25	2 919	16 107	23 299
^ estimate has a relative standard error of 10% to less than 25% and should be used with caution
* estimate has a relative standard error of 25% to 50% and should be used with caution
np not available for publication but included in totals where applicable, unless otherwise indicated
(a) Includes rent, leasing and hiring income.
(b) Includes capitalised purchases.
(c) See paragraph 5 of Technical Note: Data Quality.

Industry performance, Auxiliary finance and insurance services
			2011-12	2012-13	2013-14
Employment at end of June(a)		'000	157	147	148
Income
	Sales and service income(b)	$m	39 749	38 574	42 246
	Funding from government for operational costs	$m	*156	^50	*19
	Interest income	$m	5 563	5 371	5 464
	Other income	$m	**2 029	4 131	^6 499
	Total income	$m	47 498	48 127	54 228
Expenses
	Selected labour costs(c)	$m	13 182	12 405	13 650
	Purchases of goods and materials(d)	$m	^2 293	^2 467	2 919
	Interest expenses	$m	5 449	4 949	4 747
	Depreciation and amortisation	$m	784	687	^883
	Other expenses	$m	17 607	16 346	17 473
	Less
	Capital work done for own use	$m	52	^44	36
	Total expenses	$m	39 264	36 810	39 636
Change in inventories		$m	^96	-27	*25
Earnings before interest tax depreciation and amortisation(e)		$m	6 970	7 423	8 283
Operating profit before tax(e)		$m	^8 330	11 291	14 616
Economic values
	Gross fixed capital formation	$m	^860	1 088	^1 248
	Capital expenditure(f)	$m	1 485	^2 366	^2 047
	Disposals of assets	$m	^581	**530	**379
	Net capital expenditure	$m	^904	*1 836	*1 669
	Industry value added(e)	$m	21 430	21 060	23 299
Industry ratios
	Profit margin	%	21	29.3	34.6
	Interest coverage	times	1.3	1.5	1.7
	Investment rate (value added)	%	6.9	11.2	8.8
	Wages and salaries to sales and service income	%	30.5	29.7	29.8
	Wages and salaries per employee(g)	$'000	82.5	83.4	89.5
	Sales and service income per person employed(h)	$'000	252.9	262.6	284.7
	Industry value added per person employed(h)	$'000	136.3	143.4	157
Percentage of businesses that
	Made a profit	%	81.4	79.4	82.7
	Broke even	%	2.2	4.3	0.6
	Made a loss	%	16.4	16.3	16.7
^ estimate has a relative standard error of 10% to less than 25% and should be used with caution
* estimate has a relative standard error of 25% to 50% and should be used with caution
** estimate has a relative standard error greater than 50% and is considered too unreliable for general use
np not available for publication but included in totals where applicable, unless otherwise indicated
(a) Includes working proprietors and partners of unincorporated businesses.
(b) Includes rent, leasing and hiring income.
(c) Includes capitalised wages and salaries, salary sacrificed earnings and remuneration in the form of share based payments and stock options; excludes the drawings of working proprietors.
(d) Includes capitalised purchases.
(e) See paragraph 5 of Technical Note: Data Quality.
(f) Includes capital work done for own use.
(g) Employee estimates used in this ratio exclude working proprietors and partners of unincorporated businesses.
(h) Calculated using estimates of employment which include working proprietors and partners of unincorporated businesses.