| |
|
IFRS COMPLIANT |
|
|
|
| |
2011
Rm |
20101
Rm |
2009
Rm |
2008
Rm |
2007
Rm |
2006
Rm |
2005
Rm |
2004
Rm |
2003
Rm |
2002
Rm |
Income statement |
|
|
|
|
|
|
|
|
|
|
| Revenue |
43 040 |
35 512 |
50 869 |
45 046 |
34 229 |
30 159 |
18 958 |
10 572 |
9 949 |
8 208 |
| Operating profit before capital items |
5 424 |
4 864 |
5 153 |
4 662 |
3 059 |
2 715 |
1 944 |
1 190 |
1 050 |
740 |
| Capital items |
(64) |
(55) |
49 |
(193) |
(57) |
(88) |
(10) |
(53) |
(47) |
(5) |
| Operating profit |
5 360 |
4 809 |
5 202 |
4 469 |
3 002 |
2 627 |
1 934 |
1 137 |
1 003 |
735 |
| Net finance cost |
(1 162) |
(986) |
(1 000) |
(704) |
(454) |
(292) |
(193) |
(80) |
(126) |
(81) |
| Share of profit of associate companies |
55 |
36 |
6 |
37 |
67 |
61 |
58 |
115 |
91 |
56 |
| Profit before taxation |
4 253 |
3 859 |
4 208 |
3 802 |
2 615 |
2 396 |
1 799 |
1 172 |
968 |
710 |
| Taxation |
(435) |
(369) |
(581) |
(366) |
(325) |
(383) |
(213) |
(145) |
(98) |
(53) |
| Profit from discontinued operations |
1 526 |
263 |
– |
– |
684 |
– |
– |
– |
– |
– |
| Profit for the year |
5 344 |
3 753 |
3 627 |
3 436 |
2 974 |
2 013 |
1 586 |
1 027 |
870 |
657 |
| Attributable to: |
|
|
|
|
|
|
|
|
|
|
| Owners of the parent |
5 136 |
3 541 |
3 379 |
3 310 |
2 970 |
1 949 |
1 545 |
1 023 |
873 |
659 |
| Non-controlling interests |
208 |
212 |
248 |
126 |
4 |
64 |
41 |
4 |
(3) |
(2) |
| Profit for the year |
5 344 |
3 753 |
3 627 |
3 436 |
2 974 |
2 013 |
1 586 |
1 027 |
870 |
657 |
Statement of cash flows |
|
|
|
|
|
|
|
|
|
|
| Operating profit before working capital changes |
6 943 |
6 074 |
5 871 |
5 387 |
3 929 |
3 352 |
2 401 |
1 442 |
1 253 |
895 |
| Net changes in working capital |
259 |
(376) |
(1 937) |
98 |
(475) |
134 |
(977) |
97 |
(355) |
60 |
| Cash generated from operations |
7 202 |
5 698 |
3 934 |
5 485 |
3 454 |
3 486 |
1 424 |
1 539 |
898 |
955 |
Performance indicators |
|
|
|
|
|
|
|
|
|
|
Profitability |
|
|
|
|
|
|
|
|
|
|
| Return on total assets2 |
6.9% |
8.7% |
9.2% |
9.9% |
8.8% |
9.6% |
10.2% |
10.3% |
11.6% |
10.3% |
| Gross margin |
38.9% |
40.8% |
34.8% |
32.9% |
31.2% |
31.5% |
31.6% |
41.4% |
38.8% |
37.3% |
| Operating margin |
12.6% |
13.7% |
10.1% |
10.3% |
8.9% |
9.0% |
10.3% |
11.3% |
10.6% |
9.0% |
Employee statistics |
|
|
|
|
|
|
|
|
|
|
| Number of employees |
48 840 |
35 010 |
41 400 |
43 300 |
43 400 |
50 000 |
41 500 |
26 600 |
20 400 |
22 600 |
| Paid to employees (Rm) |
8 176 |
6 867 |
8 533 |
7 224 |
6 148 |
5 558 |
2 708 |
859 |
799 |
829 |
|
| |
| 1 The 2010 figures have been re-presented to reflect the discontinued operations |
| 2 Operating profit before capital items ÷ average total assets |
| |
Headline earnings per share |
|
Net asset value per share |
| Cents per share: 2002 to 2011 |
|
Cents per share: 2002 to 2011 |
 |
|
 |
|
| |
| * 2011 figures exclude the discontinued operations and 2010 figures have been re-presented to reflect the discontinued operations. |
| |
|
IFRS COMPLIANT |
|
|
|
| |
2011
Rm |
2010
Rm |
2009
Rm |
2008
Rm |
2007
Rm |
2006
Rm |
2005
Rm |
2004
Rm |
2003
Rm |
2002
Rm |
Statement of financial position |
|
|
|
|
|
|
|
|
|
|
| Goodwill and intangible assets |
35 930 |
17 675 |
18 875 |
21 227 |
10 247 |
7 893 |
4 000 |
504 |
327 |
415 |
| Property, plant and equipment, investment properties and biological assets |
29 696 |
14 853 |
11 277 |
11 288 |
7 999 |
5 652 |
4 909 |
2 787 |
2 202 |
2 316 |
| Other non-current assets |
9 123 |
5 264 |
5 942 |
5 127 |
3 923 |
3 872 |
1 883 |
1 491 |
1 206 |
1 252 |
| Current assets |
26 170 |
19 389 |
18 661 |
19 274 |
15 365 |
14 535 |
13 780 |
8 778 |
5 749 |
4 654 |
| Total assets |
100 919 |
57 181 |
54 755 |
56 916 |
37 534 |
31 952 |
24 572 |
13 560 |
9 484 |
8 637 |
| Total equity |
40 830 |
27 061 |
24 924 |
24 784 |
17 358 |
12 767 |
9 714 |
6 490 |
4 944 |
4 412 |
| Interest-bearing debt |
30 499 |
18 348 |
17 882 |
16 686 |
11 053 |
10 716 |
6 353 |
3 697 |
2 063 |
1 639 |
| Interest-free liabilities |
29 590 |
11 772 |
11 949 |
15 446 |
9 123 |
8 469 |
8 505 |
3 373 |
2 477 |
2 586 |
| Total equity and liabilities |
100 919 |
57 181 |
54 755 |
56 916 |
37 534 |
31 952 |
24 572 |
13 560 |
9 484 |
8 637 |
Performance indicators |
|
|
|
|
|
|
|
|
|
|
Debt leverage |
|
|
|
|
|
|
|
|
|
|
| Gearing ratio (%)3 |
46% |
34% |
35% |
38% |
24% |
30% |
21% |
0% |
15% |
24% |
| Debt coverage (times)4 |
0.2 |
0.3 |
0.2 |
0.3 |
0.3 |
0.3 |
0.2 |
0.4 |
0.3 |
0.4 |
| Borrowing cost cover (times)5 |
4.7 |
4.8 |
5.2 |
6.6 |
6.7 |
9.3 |
10.1 |
14.9 |
8.3 |
9.1 |
Shareholders’ returns |
|
|
|
|
|
|
|
|
|
|
| Earnings per share (cents) |
342.9 |
249.5 |
254.7 |
249.8 |
241.9 |
165.6 |
137.0 |
95.8 |
90.8 |
76.2 |
| Headline earnings per share (cents) |
258.9 |
252.7 |
251.5 |
263.5 |
200.1 |
172.5 |
138.0 |
110.3 |
102.5 |
90.8 |
| Distribution per share (cents) |
65.0 |
63.0 |
60.0 |
60.0 |
50.0 |
37.5 |
30.0 |
22.0 |
18.0 |
15.0 |
| Distribution cover (times) |
5.3 |
4.0 |
4.2 |
4.2 |
4.8 |
4.4 |
4.6 |
4.4 |
5.0 |
5.1 |
| Net asset value per share (cents) |
2 056.4 |
1 656.6 |
1 642.2 |
1 637.0 |
1 292.4 |
965.5 |
723.9 |
574.8 |
523.2 |
483.4 |
| Annual (decrease)/increase in revenue |
21% |
(30%)6 |
13% |
32% |
13% |
59% |
79% |
6% |
21% |
42% |
| EBITDA to revenue |
15% |
16% |
12% |
12% |
11% |
11% |
12% |
14% |
13% |
11% |
| Employee cost to revenue |
19% |
19% |
17% |
16% |
18% |
18% |
14% |
8% |
8% |
10% |
| Depreciation and amortisation to revenue |
3% |
3% |
2% |
2% |
2% |
2% |
2% |
2% |
2% |
2% |
| Effective tax rate |
10% |
10% |
14% |
10% |
12% |
16% |
12% |
12% |
10% |
7% |
Share statistics |
|
|
|
|
|
|
|
|
|
|
| Shares in issue (net of treasury shares) (million) |
1 641 |
1 408 |
1 280 |
1 269 |
1 256 |
1 141 |
1 131 |
1 123 |
942 |
907 |
| Weighted average shares in issue (million) |
1 454 |
1 387 |
1 283 |
1 281 |
1 188 |
1 133 |
1 128 |
1 067 |
961 |
865 |
|
| |
| 3 Net interest-bearing debt ÷ closing equity |
| 4 Cash generated from operations ÷ total borrowings |
| 5 Operating profit before capital items ÷ net finance cost |
| 6 The decrease is due to the 2010 figures being re-presented to reflect the discontinued operations |
| |
Revenue |
|
Distribution to shareholders |
| Rm: 2002 to 2011 |
|
Cents per share: 2002 to 2011 |
 |
|
 |
|
| |
| * 2011 figures exclude the discontinued operations and 2010 figures have been re-presented to reflect the discontinued operations. |