Agribel Annual Financial Review | Page 57

AGRIBEL HOLDINGS LTD FINANCIAL REVIEW 2021
GROUP
Interest cover
2021 R ' m
2020 R ' m
Earnings before interest , tax , depreciation and amortisation ( EBITDA )
992
618
Finance costs
104
92
Calculated interest cover ( times )
9.5
6.7
Set target ( times )
> 2,5
> 2,5
The interest cover exceeds the minimum set target of 2,5 .
24.2 Fair value
The following table summarises fair value measurements recognised in the statement of financial position or disclosed in the group ’ s financial statements by class of asset or liability and categorised by level according to the significance of inputs used in making the measurements .
Fair value as at 30 April 2021
Carrying amount
Quoted prices in active markets for identical instruments
Significant other observable inputs
Significant unobser- vable inputs
Total Level 1 Level 2 Level 3 Recurring measurements Notes R ' m R ' m R ' m R ' m Assets Grain commodities 10 116 116 - - Inventory held to satisfy firm sales 12 10 - 10 - Investment in financial assets at fair value through other
comprehensive income
7.1.1
4
-
-
4
Investment in RealFin Collective Investment Scheme
8.2
24
-
24
-
Forward purchase contracts 20.1 203 203 - - Safex futures 20.1 1 1 - -
Investment in Senwes ( Company )
6.1
1 546
1 546
-
-
Total assets
1 904
1 866
34
4
Liabilities Commodity finance
7.2.2
52
52
-
-
Forward purchase contracts
20.2
5
5
-
-
Safex futures
20.2
53
53
-
-
Total liabilities
110
110
-
-
Accounts receivable , loans receivable and loans payable at amortised cost approximate their fair value .
Fair value as at 30 April 2020
Quoted
prices
Carrying amount
in active markets for identical instruments
Significant other observable inputs
Significant unobservable inputs
Total
Level 1
Level 2
Level 3
Recurring measurements
Notes
R ' m
R ' m
R ' m
R ' m
Assets Grain commodities
10
62
62
-
-
Inventory held to satisfy firm sales
12
105
-
105
-
Investment in financial assets at fair value through other
comprehensive income
7.1.1
2
-
-
2
Investment in RealFin Collective Investment Scheme
8.2
31
-
31
-
Forward purchase contracts
20.1
53
53
-
-
Safex futures
20.1
33
33
-
-
Investment in Senwes ( company )
6.1
1 057
1 057
-
-
Total assets
1 343
1 205
136
2
Liabilities
Commodity finance
7.2.2
41
41
-
-
Forward purchase contracts
20.2
69
69
-
-
Foreign exchange contracts
20.2
3
3
-
-
Total liabilities
113
113
-
-
Accounts receivable , loans receivable and loans payable at amortised cost approximate their fair value .
Agribel Holdings Limited Reg nr : 1996 / 017629 / 06 AGRIBEL ANNUAL FINANCIAL REVIEW 2021
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