|
Five year review
 Group statement of financial position
| |
|
2010 |
|
2009 |
|
2008 |
|
2007 |
|
2006 |
|
| |
|
R’m |
|
R’m |
|
R’m |
|
R’m |
|
R’m |
|
| |
Group statement of financial position |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |
Non-current assets |
3,182 |
|
2,110 |
|
2,397 |
|
1,875 |
|
1,819 |
|
| |
Current assets |
1,613 |
|
2,561 |
|
3,264 |
|
2,427 |
|
1,558 |
|
| |
Total assets |
4,795 |
|
4,671 |
|
5,661 |
|
4,302 |
|
3,377 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |
Non-current liabilities |
816 |
|
666 |
|
554 |
|
721 |
|
401 |
|
| |
Current liabilities |
497 |
|
849 |
|
2,462 |
|
553 |
|
500 |
|
| |
Total liabilities |
1,313 |
|
1,515 |
|
3,016 |
|
1,274 |
|
901 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |
Net assets |
3,482 |
|
3,156 |
|
2,645 |
|
3,028 |
|
2,476 |
|
|
Group statement of comprehensive income
| |
|
2010 |
|
2009 |
|
2008 |
|
2007 |
|
2006 |
|
| |
|
R’m |
|
R’m |
|
R’m |
|
R’m |
|
R’m |
|
| |
Group statement of comprehensive income |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |
Revenue |
3,465 |
|
10,159 |
|
3,869 |
|
2,950 |
|
2,574 |
|
| |
Operating profit |
345 |
|
2,747 |
|
1,102 |
|
351 |
|
5 |
|
| |
Earnings before interest and tax (EBIT) |
(7) |
|
2,750 |
|
1,100 |
|
351 |
|
5 |
|
| |
Net finance income |
28 |
|
199 |
|
(18) |
|
187 |
|
28 |
|
| |
Net foreign exchange profits/(losses) |
28 |
|
(294) |
|
(44) |
|
19 |
|
12 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |
Profit/(Loss) before tax from continuing operations |
49 |
|
2,656 |
|
1,038 |
|
558 |
|
45 |
|
| |
Income tax expense |
(107) |
|
(793) |
|
(258) |
|
23 |
|
(1) |
|
| |
Profit/(Loss) after tax from continuing operations |
(58) |
|
1,863 |
|
780 |
|
581 |
|
44 |
|
| |
Profit/(Loss) after tax from discontinued operations |
- |
|
56 |
|
60 |
|
- |
|
- |
|
| |
Total group profit/(loss] |
(58) |
|
1,919 |
|
840 |
|
581 |
|
44 |
|
|
Group cash flow statement
| |
|
2010 |
|
2009 |
|
2008 |
|
2007 |
|
2006 |
|
| |
|
R’m |
|
R’m |
|
R’m |
|
R’m |
|
R’m |
|
| |
Group cash flow statement |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |
Cash flows from operations |
986 |
|
1,085 |
|
994 |
|
451 |
|
132 |
|
| |
Capital expenditure |
824 |
|
489 |
|
360 |
|
150 |
|
104 |
|
| |
Free cash inflow |
155 |
|
631 |
|
640 |
|
219 |
|
58 |
|
|
Key drivers
| |
|
2010 |
|
2009 |
|
2008 |
|
2007 |
|
2006 |
|
| |
|
R’m |
|
R’m |
|
R’m |
|
R’m |
|
R’m |
|
| |
Key drivers |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |
Average exchange rate R/US$ |
7.84 |
|
8.71 |
|
7.09 |
|
7.02 |
|
6.37 |
|
| |
P205 CFR sales price ($/ton) |
583 |
|
1,505 |
|
607 |
|
462 |
|
440 |
|
| |
P205 CFR sales price (R/ton) |
5,567 |
|
13,112 |
|
4,337 |
|
3,275 |
|
2,806 |
|
| |
Sulphur FOB purchase price ($/ton) |
40 |
|
499 |
|
104 |
|
58 |
|
65 |
|
| |
Sulphur CFR purchase price ($/ton) |
68 |
|
540 |
|
175 |
|
83 |
|
85 |
|
| |
Sulphur CFR purchase price (R/ton) |
604 |
|
4,401 |
|
1,263 |
|
606 |
|
573 |
|
| |
Ammonia CFR purchase price ($/ton) |
310 |
|
704 |
|
324 |
|
341 |
|
320 |
|
| |
Rock FOB sales price ($/ton) |
110 |
|
188 |
|
72 |
|
58 |
|
59 |
|
| |
Rock FOB sales price (R/ton) |
897 |
|
1,737 |
|
513 |
|
404 |
|
376 |
|
| |
Granular FOB sales price ($/ton) |
416 |
|
1,076 |
|
544 |
|
307 |
|
283 |
|
| |
Granular FOB sales price (R/ton) |
3,260 |
|
9,375 |
|
3,855 |
|
2,154 |
|
1,801 |
|
| |
P205 - Production volume (‘000 tons) |
622 |
|
659 |
|
692 |
|
529 |
|
626 |
|
| |
P205 - Sales volume (‘000 tons) |
459 |
|
565 |
|
557 |
|
498 |
|
581 |
|
| |
Granular - Production volume (‘000 tons) |
307 |
|
163 |
|
261 |
|
137 |
|
190 |
|
| |
Granular - Sales volume (‘000 tons) |
292 |
|
149 |
|
261 |
|
164 |
|
177 |
|
| |
Rock - Production volume (‘000 tons) |
2,190 |
|
2,415 |
|
2,382 |
|
2,670 |
|
2,528 |
|
| |
Rock - Sales volume (‘000 tons) |
2,243 |
|
2,529 |
|
2,911 |
|
2,520 |
|
2,606 |
|
|
Trends
| |
|
2010 |
|
2009 |
|
2008 |
|
2007 |
|
2006 |
|
| |
Trends |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |
Profitability |
|
|
|
|
|
|
|
|
|
|
| |
Operating income to revenue (%) |
9.96 |
|
27.03 |
|
28.47 |
|
11.90 |
|
0.19 |
|
| |
Pre-tax margin (%) |
1.41 |
|
26.14 |
|
26.83 |
|
18.91 |
|
1.75 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |
Asset management |
|
|
|
|
|
|
|
|
|
|
| |
Return on assets (%) |
(1.21) |
|
41.09 |
|
14.84 |
|
13.50 |
|
1.30 |
|
| |
Return on equity (%) |
(1.67) |
|
60.81 |
|
31.75 |
|
19.18 |
|
1.78 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |
Solvency and liquidity |
|
|
|
|
|
|
|
|
|
|
| |
Current ratio (times) |
3.25 |
|
3.02 |
|
1.33 |
|
4.39 |
|
3.12 |
|
| |
Debt to equity ratio (%) |
0.00 |
|
0.00 |
|
0.00 |
|
0.00 |
|
0.00 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |
Productivity |
|
|
|
|
|
|
|
|
|
|
| |
Number of employees at year end 1 |
1,753 |
|
1,723 |
|
1,805 |
|
1,799 |
|
1,783 |
|
| |
Average revenue per employee (R’000) |
1,977 |
|
5,896 |
|
2,143 |
|
1,640 |
|
1,444 |
|
| |
P205 - Production volume (‘000 tons) |
622 |
|
659 |
|
692 |
|
529 |
|
626 |
|
| |
Granular - Production volume (‘000 tons) |
307 |
|
163 |
|
261 |
|
137 |
|
190 |
|
| |
Rock - Production volume (‘000 tons) |
2,190 |
|
2,415 |
|
2,382 |
|
2,670 |
|
2,528 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |
Major cost items (R’million) |
|
|
|
|
|
|
|
|
|
|
| |
Staff costs 1 |
604 |
|
526 |
|
446 |
|
362 |
|
401 |
|
| |
Repairs and maintenance |
376 |
|
376 |
|
294 |
|
297 |
|
258 |
|
| |
Depreciation |
172 |
|
163 |
|
123 |
|
109 |
|
96 |
|
| |
Capex |
825 |
|
489 |
|
360 |
|
150 |
|
104 |
|
1 Zirconia excluded from 2009
|
|
