BILLABONG INTERNATIONAL LTD Completed as part of the requirements for ‘Corporate Finance’‚ 25765 Contents 1.0 Introduction 1 2.0 Executive Summary 1 3.0 Capital Structure 2 3.1 Types of Funding Utilised by Billabong 3 3.2 Recent trend in the level of leverage 3 3.3 Capital expenditure and financing: 5 3.4 Capital Structure of Similar Firms 6 3.5 Company Characteristics and Leverage policy 7 3.5.1 Taxes 8 3.5.2 Trade off Model 8 3.5.3 Pecking Order of Financing Choices 9 3.5.4 Signalling
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Risk Management Policy Billabongs’ activities are exposed to a variety of financial risks‚ these include; market risk (including foreign exchange risk and cash flowinterest rate risk)‚ credit risk and liquidity risk. To minimize potential adverse effects on the financial performance of Billabong‚ the overall risk management program focuses on theunpredictability of financial markets (Billabong Annual Report‚ 2011). The framework is based around the following risk activities: * Risk Identification:
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Financial statement overview Compnet International is a US-based Company that manufactures automobiles parts and various technical parts used in computers and computerized devices. Having established a cash reserve‚ Compnet seeks to ensure financial stability by increasing the company’s financial liquidity in meeting the day-to-day financial obligation. This means that the company shall put aside a portion of its liquid finances either in short term investments or in bank accounts and
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Table of Contents Table of Contents 2 Chapter 1: Company Profile – Billabong International Ltd 3 1.1 Overview of Billabong 3 1.2 Financial Analysis 3 Chapter 2: Identification and evaluation of Billabong’s global strategy 4 - 7 2.1 4 P’s 4 - 5 2.1.1 Product 4 2.1.2 Promotion 4 2.1.3 Price 5 2.1.4 Place 5 2.2 SWOT Analysis 6 2.3 Current Target Market 7 2.4 Reasons for Billabong’s international expansion 7 Chapter 3: Identification and evaluation of the external environment
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Billabong’s Recent Nose Dive Billabong is a popular Australian company whose business includes surf‚ skate‚ snow‚ sports apparel‚ accessories‚ and hardware. The company started in 1973 in Gold Coast‚ Queensland‚ Australia and through their four decades of business they have established brands such as Element‚ Von Zipper‚ Honolua Surf Company‚ Kustom‚ Palmers Surf‚ Xcel‚ Tigerlily‚ Sector 9‚ DaKine‚ and RVCA brand names. In 2008‚ the company witnessed peaking numbers with profits of $158 million
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FIRM As per the judicial obligation‚ Billabong International Limited appointed Pricewaterhouse Coopers as their audit firm. PWC is a London based multinational company known for its Professional Services. As an audit firm for Billabong‚ Pricewaterhouse reviews the company’s accounting statements and determines the company’s financial position. The lead auditor for Billabong is Steven Bosiljevac. Steven Bosiljevac is a partner at Pricewaterhouse Coopers. (Billabong Financial Report‚ 2013: 43)
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Billabong was founded in the Gold Coast‚ Queensland‚ Australia in 1973 by Gordon Merchant. At first‚ he designed and created the board shorts at his home and then sold them to local surf shops. Surfers soon realized the durability of Merchant’s board shorts that was the result of his triple-stitching technique. Merchant understood that his company needed to expand to achieve success‚ so Billabong started to sponsor contests—these contests increased the public’s awareness of Merchant’s products and
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Billabong is Australia’s largest surfware manufacturer which generates a revenue of $680 million. In 2000 Billabong was listen among Australia 200 largest companies. Billabong started to expand in 1983 in order to gain international market and creating a global identity. In year 1985 and 1987 it expanded its business in NewZeland and France respectively. Billabong last CEO was Launa Inman. And current CEO is Neil Fisk. Now it has retail stores and manufacturers in East Asia. Billabong also sells
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Executive Summary I decided to do the internship for the BAS Supervision and Management program in my own employment site. Florida International University (FIU) is an American public research university in Greater Miami‚ Florida‚ in the United States‚ with its main campus in University Park in Miami-Dade County. It is classified as a research university with high research activity by the Carnegie Foundation and a first-tier research university by the Florida Legislature. Founded in 1965‚ FIU is
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faced by Billabong’s management. Billabong is currently facing a number of difficulties that are both internal and external. One of the biggest problems currently faced by Billabong management is the lack of support from institutional shareholders. 2. Describe the factors that have led to Billabong’s current success/decline. One of the main factors is 3. Explain why changes were made to Billabong’s management structure Changes were made to the billabong management structure because of
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