Table:
|  | 2019 | 2018 |  |
| --- | --- | --- | --- |
|  | A$ Million | A$ Million | Variance % |
| Operating revenue | 231.3 | 230.8 | 0.2% |
| EBITDA1 | 53.0 | 59.3 | (10.6%) |
| NPAT | 21.5 | 28.9 | (25.6%) |
| NPATA1 | 31.2 | 38.0 | (17.9%) |
| Basic earnings per share (EPS) (cents) | 10.9 | 14.8 | (26.4%) |
| Basic EPSa1 (cents) | 15.8 | 19.4 | (18.6%) |
Paragraphs:
Review of operations
The Group’s operating performance for the fiscal year compared to last year is as follows:
1. The Directors believe the information additional to IFRS measures included in the report is relevant and useful in measuring the financial performance of the Group. These include: EBITDA, NPATA and EPSa. These measures have been defined in the Chairperson and Chief Executive Officer’s Joint Report on page 2.
In 2019 the business continued to deliver strong results after the record 2018 year. Revenues and EBITDA were in line with guidance. Further details on the Group’s results are outlined in the Chairperson and Chief Executive Officer’s Joint Report on page 2.
On 1 June 2019, Hansen acquired the Sigma Systems business (Sigma) and one month of these results are included in the FY19 result. Also included in the results are the transaction and other restructuring costs related to the acquisition, which we have identified as separately disclosed items in our results.
This acquisition has also resulted in the re-balancing of the Group’s market portfolio which, post the acquisition of Enoro in FY18, was initially weighted towards the Utilities sector. With Sigma’s revenues concentrated in the Communications sector, the Group’s revenue portfolio is now re-balanced to ensure greater diversification across multiple industries, regions and clients.
The Group has generated operating cash flows of $39.7 million, which has been used to retire external debt and fund dividends of $12.6 million during the financial year. With the introduction of a higher level of debt in June 2019 to fund the Sigma acquisition, the Group has, for the first time, used the strength of the Group’s balance sheet to fund 100% of an acquisition. With the Group’s strong cash generation, Hansen is well placed to service and retire the debt over the coming years.
Question:
What was the average basic EPSa for both FYs?
Answer: (15.8 + 19.4)/2  = 17.6