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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 2012-13, 2013-14 and 2014-15.

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 2014-15 experimental estimates for ANZSIC Subdivision 64 Auxiliary finance and insurance services are sales and service income (4.4%), total income (3.9%), wages and salaries (3.5%), total expenses (4.3%), employment (3.8%), operating profit before tax (6.6%), earnings before interest, tax, depreciation and amortisation (8%) and industry value added (4.2%).

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
2012-13		147	11 470	38 574	48 127	36 810	11 291	7 423	21 052
2013-14		148	12 682	42 112	53 586	39 612	13 993	8 157	23 278
2014-15		158	12 986	46 430	59 640	41 531	18 066	10 564	26 055
(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(a)	Fringe benefits tax	Payroll tax	Total labour costs(a)
		$m	$m	$m	$m	$m	$m	$m
Financial and insurance services
2012-13		11 470	889	46	12 405	67	439	12 911
2013-14		12 682	1 016	^54	13 751	68	479	14 298
2014-15		12 986	1 072	50	14 108	^97	531	14 735
^ estimate has a relative standard error of 10% to less than 25% and should be used with caution
(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
2012-13		38 574	^50	^39	^5	^44	-27	^2 467	15 122	21 052
2013-14		42 112	*19	np	np	36	*19	3 006	15 902	23 278
2014-15		46 430	**31	^71	*100	*172	-43	^3 452	17 082	26 055
^ 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 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
			2012-13	2013-14	2014-15
Employment at end of June(a)		'000	147	148	158
Income
	Sales and service income(b)	$m	38 574	42 112	46 430
	Funding from government for operational costs	$m	^50	*19	**31
	Interest income	$m	5 371	5 462	^5 404
	Other income	$m	4 131	^5 994	^7 775
	Total income	$m	48 127	53 586	59 640
Expenses
	Selected labour costs(c)	$m	12 405	13 751	14 108
	Purchases of goods and materials(d)	$m	^2 467	3 006	^3 452
	Interest expenses	$m	4 949	4 747	^4 862
	Depreciation and amortisation	$m	687	^872	^816
	Other expenses	$m	16 346	17 272	18 466
	Less
	Capital work done for own use	$m	^44	36	*172
	Total expenses	$m	36 810	39 612	41 531
Change in inventories		$m	-27	*19	-43
Earnings before interest tax depreciation and amortisation(e)		$m	7 423	8 157	10 564
Operating profit before tax(e)		$m	11 291	13 993	18 066
Economic values
	Gross fixed capital formation	$m	1 088	^1 251	897
	Capital expenditure(f)	$m	^2 366	^2 050	^1 622
	Disposals of assets	$m	**530	**379	*245
	Net capital expenditure	$m	*1 836	*1 671	^1 377
	Industry value added(e)	$m	21 052	23 278	26 055
Industry ratios
	Profit margin	%	29.3	33.2	38.9
	Interest coverage	times	1.5	1.7	2.2
	Investment rate (value added)	%	11.2	8.8	6.2
	Wages and salaries to sales and service income	%	29.7	30.1	28.0
	Wages and salaries per employee(g)	$'000	83.4	90.2	87.8
	Sales and service income per person employed(h)	$'000	262.6	284	294.5
	Industry value added per person employed(h)	$'000	143.3	157	165.3
Percentage of businesses that
	Made a profit	%	79.4	82.1	85.7
	Broke even	%	4.3	1.1	1.3
	Made a loss	%	16.3	16.8	13.0
^ 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.