Annual Report Fosters Beer

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ANNUAL REPORT 2011

Foster’s has unveiled a new brand identity For its iconic australian beer business

We’re united by the bond only a beer can create and a belief that if a whole lot more people raised a beer in friendship, the world would be a better place.

ABN 49 007 620 886

Foster’s GrouP limited
FiNANCiAl report For the twelve moNth period eNded 30 juNe 2011

THE BEER COMPANY LOVED BY AUSTRALIANS

As a beer company, we’re proud that we bring people together, in unguarded moments, where laughter and real words are shared. BUSINESS & SUSTAINABILITY REVIEW 2011

04

From the ChAirmAN ANd ChieF exeCutive oFFiCer

82 84

13 diSCoNtiNued operAtioNS 14 propertY, plANt ANd equipmeNt

08 09 10

the Next ChApter For CuB exeCutive mANAgemeNt CorporAte goverNANCe StAtemeNt 85 86 88 89

15 AgriCulturAl ASSetS 16 iNtANgiBle ASSetS 17 pAYABleS 18 FiNANCiAl riSk mANAgemeNt oBjeCtiveS ANd poliCieS

18 24 49 59

direCtorS’ report remuNerAtioN report group FiNANCiAl review Five YeAr SummArY

94

19 derivAtive FiNANCiAl iNStrumeNtS

96 Financial statements 97 60 CoNSolidAted iNCome StAtemeNt 61 CoNSolidAted StAtemeNt oF CompreheNSive iNCome 62 63 CoNSolidAted BAlANCe Sheet CoNSolidAted StAtemeNt oF ChANgeS iN equitY 63 CoNSolidAted StAtemeNt oF CASh FlowS notes to the Financial statements 65 1 SummArY oF SigNiFiCANt ACCouNtiNg poliCieS 72 2 reveNue, iNCome ANd expeNSeS 73 74 75 3 mAteriAl itemS 4 iNCome tAx 5 SegmeNt iNFormAtioN 6 eArNiNgS per ShAre 7 divideNdS 8 CASh ANd CASh equivAleNtS 9 reCeivABleS 10 iNveNtorieS 11 iNveStmeNtS ACCouNted For uSiNg the equitY method 81 12 NoN-CurreNt ASSetS ClASSiFied held For SAle 125 121 122 124 115 119 120 114 114 105 107 110 111 112 113 100 98 99

20 BorrowiNgS 21 proviSioNS 22 CoNtriButed equitY 23 reServeS ANd retAiNed eArNiNgS 24 keY mANAgemeNt perSoNNel diSCloSureS 25 emploYee equitY plANS 26 emploYee BeNeFitS 27 remuNerAtioN oF AuditorS 28 CommitmeNtS 29 CoNtiNgeNt liABilitieS 30 NoteS to the CASh Flow StAtemeNt 3 1 relAted pArtY diSCloSureS 32 eveNtS SuBSequeNt to reportiNg dAte 33 CoNtrolled eNtitieS 34 deed oF CroSS guArANtee 35 pAreNt eNtitY FiNANCiAl iNFormAtioN direCtorS’ deClArAtioN iNdepeNdeNt Auditor’S report detAilS oF ShAreholderS, ShAreholdiNgS ANd top 20 ShAreholderS ShAreholder iNFormAtioN

Foster’s Business and Sustainability review 2011 is available at the Foster’s website www.fostersgroup.com

76 77 77 78 80 80

*unless otherwise stated, 2011 and prior years refer to the period ended 30 june 2011 and all dollars are Australian dollars. Foster’s Group Limited Annual Report 2011

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3

25.25
From the chairman and chieF eXecutive oFFicer

Total dividends for the 2011 fiscal year

(cents per share)
overwhelminG suPPort For the demerGer the demerger was approved at the Scheme meeting held on 29 April 2011 with 99.7 per cent of shareholder votes in favour. the transition to separate beer and wine operations occurred with minimal business disruption. manaGement with deeP sector knowledGe and Global eXPerience Foster’s has assembled a talented and experienced leadership team. the team has decades of relevant expertise in the beverage business in Australia and internationally. Several key management appointments have deepened our technical skills and global experience, and reaffirmed the Company’s commitment to investing to drive growth. Financial Foundation laid For the Future in the face of economic uncertainty and unusual weather patterns, it is a credit to the character and hard work of the team at Foster’s that we navigated a difficult market in fiscal 2011 and have emerged in stronger shape. the hard work of the past year is not yet fully reflected in the financial results, but we have the foundation for improved performance in the years ahead. the results of Foster’s continuing operations eBit in 2011 was $816.7 million before material items. the continuing operations net profit after tax but before material items...
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