12/11/2021 - 14:25

JobKeeper disclosures flood ASX

12/11/2021 - 14:25

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ASX-listed companies have detailed roughly $2 billion in JobKeeper payments spanning the last two financial years, with only a handful making voluntary repayments.

JobKeeper disclosures flood ASX
Photo: Attila Csaszar

ASX-listed companies have detailed roughly $2 billion in JobKeeper payments spanning the last two financial years, with only a handful making voluntary repayments.  

Qantas Airways confirmed its receipt of $856 million in employee subsidy payments over FY20 and FY21, while Regional Express Holdings collected roughly $29.3 million under the scheme over the period.

Crown Resorts collected one the largest amounts announced to the market today, pocketing  $291 million over the last two financial years for approximately 10,348 staff.

The automotive sector had some of the largest recipients.

National car retailer Eagers Automotive collected roughly $131 million while Peter Warren Automotive received $27.9 million for 1446 staff and 4WD accessories company ARB Corporation was paid about $18.3 million for 960 staff.

Personal transport technology company A2B Australia received some $22.5 million for 716 staff.

Pathology company Australian Clinical Labs was paid approximately $58 million for 3,011 staff.

Among WA companies, Seven West Media, Monadelphous, MMA Offshore and SRG Global received large JobKeeper payments.

Seven West, which owns the Seven TV network and ‘The West Australian’, was paid a total of $47 million over two years.

Engineering and construction contractor Monadelphous was paid $11 million in respect of 700 staff.

Marine services contractor MMA Offshore was paid the same amount, but in respect of just under 400 staff.

SRG Global was paid $8.7 million in respect of about 380 staff.

The JobKeeper payments have become politically contentious because eligibility was based on projected falls in revenue.

In practice, many companies that received JobKeeper performed better than expected, with either a small decline or an increase in revenue because of improved trading conditions.

Despite this, most recipients have chosen to keep the payments.

A small number of companies, including Perth-based Wesfarmers, disclosed today they have repaid some or all of their JobKeeper income.

Wesfarmers said one of its subsidiaries – Sydney-based training company Trimevac – had applied for and received JobKeeper payments totalling $492,000.

These payments were voluntarily repaid in full in August 2020.

Perth-based miner Iluka Resources received $13.9 million for 732 staff and has paid it back in full.

Local stockbroker Euroz Hartleys was paid $2 million over two years, of which $297,00 has been repaid.

Premier investments pocketed $86.9 million for 4,545 staff and has repaid $15.6 million.

Among national companies, construction giant CIMIC Group, which owns CPB Contractors, has paid back the full $20.5 million it received.

Online employment business SEEK has paid back the $9.6 million it received in the year to June 2021 but has retained the $8.1 million it was paid in the prior year.

Recycling company SIMS has paid back $7.5 million out of a total of $14 million.

Most recipients, including those detailed below, have not paid back their JobKeeper payments.

Perth-based survey company Veris was paid $8.2 million in respect of 500 staff while construction contractor Decmil was paid $7.5 million.

Land developer Peet was paid $5.1 million in respect of 210 staff while its competitor Cedar Woods properties was paid $1.6 million in respect of 85 staff.

Decmil Group disclosed at the end of October that it received $2.6 million covering 387 staff in the year to June 2020, followed by $4.9 million covering 384 staff in the year to June 2021.

Schaffer Corporation took $906,000 for 101 staff in the year to June 2020, followed by $1.4 million covering 99 staff in the following financial year. 

Among the miners, Altura Mining received $630,000 in the year to June 2020 for 70 staff, followed by $706,500 in the year to June 2021 for 101 staff.

Pilbara Minerals received $573,000 covering 96 staff in the year to June 2020, followed by $1.4 million in the year to June 2021.

Kerry Stokes-backed Beach Energy pocketed around $7.5 million for some 447 staff.

Buru Energy disclosed on October 26 that it received $959,700 covering 33 staff in the year to June 2020. None of this was repaid.

Fleetwood pocketed $2 million covering 235 staff in the year to June 2020 and $2.9 million covering 161 staff in the year to June 2021.

Among national companies, Tabcorp Holdings received some $12.1 million for about 539 staff.

Fellow gambling company Aristocrat Leisure collected $16.1 million to support 840 staff in FY20 but did not receive further payments in FY21. 

In retail, jeweller Michael Hill International received $23.6 million regarding 1,212 staff.

Footwear company Accent Group was paid $44.9 million for 2,650 staff.

Health club Viva Leisure was paid some $6.2 million in respect of 342 staff.

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