18 Woodside Petroleum Ltd|Annual Report 2018

FINANCIAL

SUMMARY

Net profit after tax

increased 28% to

million

$1,364

Free cash flow

increased 83% to

million

$1,524

Earnings per share

to 148 cents20%

1. 2017 amounts have been restated for the retrospective application of AASB 15. Refer to Note

E.10(b) in the Financial Statements for further details.

2. These are non-IFRS measures that are unaudited but derived from audited Financial

Statements. These measures are presented to provide further insight into Woodside’s

performance. Refer to footnote 2 on page 152 for calculation methodology on EBITDA.

3. NPAT adjusted for the impact of foreign exchange options associated with the equity raising

($5 million), ﬁnance costs associated with the early redemption of the bond ($20 million) and

the reclassiﬁcation of two LNG vessels from oil and gas properties to non-current assets held

for sale ($27 million). No adjustments were made to the calculation of 2017 underlying NPAT.

4. Excludes exploration capitalised, includes restoration and rehabilitation spend.

5. Item excludes prior period expenditure written o and permit amortisation, includes

evaluation expense.

Key metrics

$ million 2018 20171

Operating revenue 5,240 3,975

EBITDA23,814 2,918

EBIT22,278 1,714

NPAT 1,364 1,069

Underlying NPAT2,3 1,416 1,069

Net cash from operating activities 3,296 2,400

Investment expenditure 1,935 1,563

Capital investment expenditure2,4 1,646 1,263

Exploration expenditure2,5 289 300

Free cash ﬂow21,524 832

Dividends paid 909 826

Key ratios

Return on equity % 7.8 7.1

ROACE % 9.3 7.4

Earnings (US cps) 148 123

Gearing % 12 24

Eective income tax rate

%32 34

Sales volumes

Gas (MMboe) 75.4 68.8

Liquids (MMboe) 13.8 15.3

Operating revenue

increased 32% to

million

$5,240

Dividend per share

2015 2016 2017 2018

 Full-year

dividend (cps)

Average annual

dated Brent

($/boe)

109

144