NOTES TO THE FINANCIAL STATEMENTS
1 . SEGMENTAL INFORMATION 1.1
SENWES ANNUAL FINANCIAL STATEMENTS 2022
During the current financial year , management has assessed and adjusted the composition of the operating segments . The processing , conditioning and markets segment will be reported separately from the current financial year . Consequently , the comparative figures were reclassified to accommodate the change .
For management and control purposes , the group is divided into business units based on their products , services and clients and consists of the following reportable segments :
Financial Services and Advice ( Agri Credit Solutions , Certisure Group , SS Wealth Planning , KLK Credit , Raddix Group and Molemi Sele Management )
Credit extension to agricultural producers and grain buyers . Agri Credit Solutions also renders agricultural services to its growing client base . Certisure and Raddix Group includes commission received on short-term , crop and life insurance premiums and administration fees . SS Wealth Planning facilitates wealth creation by means of a wide range of wealth planning and related services for clients . Molemi Sele holds investments in an agricultural company and a cell captive .
Input Supply ( Senwes Equipment , JD Implemente , Staalmeester , Senwes Equip Holdings , Hinterland Group , Falcon , KLK Landbou Group ( Retail and Fuel ), Agrinet and Protek )
Processing , Conditioning and Markets ( Senwes Seed , Carpe Diem Raisins Group , KLK Feedlot , Abattoirs and Auctioneering , Africum Mills , Botselo Mills , SA Dorper , Bastion Lime Group and NviroTek Laboratories )
Sales at retail outlets ( including fuel stations ), direct sales of farming input requirements , car dealership sales , the importation , manufacturing and sale of mechanisation goods and spare parts , as well as the servicing of such farming and other mechanisation equipment . Wholesale supply of agricultural , fuel and industrial retail products to agricultural retail outlets . Buying , repackaging , distribution and selling of pesticides and fertiliser for the household and retail market .
Market Access
Income received from the handling and storage of agricultural produce , the transportation of grain commodities as well as ( Senwes Grainlink , Grainovation and the processing of seed . Commission earned on marketing of grain and revenue from the sale of grain . Electronic issuing ESC ) and trading of silo certificates .
Corporate ( Senwes Share Incentive Scheme Trust , Thobo Trust , Senwes Capital and RealFin Collective Investment Scheme )
Processing of seed and buying , processing and packaging of raisins . The feedlots aids in getting animals market-ready while the abattoirs and auctioneering sites handle the slaughtering and selling of lamb and beef carcasses . The mills produce a wide range of maize products and a specialised beer powder . SA Dorper handles the processing and exporting of Dorper skins and cattle hides . The Bastion Group specialises in the production and marketing of high quality lime and gypsum products for agricultural and industrial purposes . NviroTek Laboratories is an independent and accredited testing laboratory group with an analytical focus on chemistry , microbiology , hygiene monitoring , chromatography and biological analysis .
Head office services , information technology , human resources , planning and property development , central administration , fleet management , secretarial services , legal services , corporate marketing , risk management , internal audit , strategic development , group finance , market intelligence , corporate finance , business engineering and treasury and governance .
Income tax is managed on a group basis and is not allocated to operating segments . Services rendered between related parties as reflected in operating segments are on an arm ’ s length basis in a manner similar to transactions with third parties . The group executive committee monitors the operational results of its business units separately for the purpose of making decisions about resource allocation and performance assessment . Segmental performance is evaluated , based on operating profit or loss , and is measured consistently against operating profit or loss in the consolidated financial statements .
Reimagine Agriculture
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