SEGMENTAL RESULTS
MARKET ACCESS
A smaller and later harvest resulted in smaller silo services fees of R168m whilst R90m was created with more effective management of grain inventory , even after taking into account the cost to correct lower quality commodities .
R ’ m |
300 250 200 150 |
300 |
( 19 ) |
90 |
( 16 ) ( 1 ) |
186 |
50 |
|
|
|
|
|
|
- |
Results 2019 |
Lower recoupment of costs |
Lower grain volumes received |
Increased efficiencies in grain management stock |
Loyalty scheme expense |
Other Results 2020 |
INPUT SUPPLY
Input Supply ’ s results improved by R117m for the year . The main contributor was the inclusion of KLK ’ s profit for the period of 8 months . The Hinterland Group ’ s operational results also continued its upward trend even with the Covid-19 influence on fuel and retail sales . The gross profit margin of Senwes Equipment remained under pressure as margins were decreased to stimulate sales .
|
210 |
|
|
|
|
|
R ’ m |
180 150 120 90 |
123 |
15 |
( 13 ) |
( 7 ) |
148 |
|
60 |
|
|
|
|
|
0 |
Results 2019 |
Inclusion of KLK profit |
Increased wholesale net profit margins |
Margins lost due to lower equipment sales |
Other Results 2020 |
FINANCIAL SERVICES
Senwes Credit experienced a very profitable 2020 financial year , with a 29 % increase in profit since 2019 . The main reason for this increase is the increase in gross profit of R17m due to a higher debtor ’ s book . The Certisure Group also increased its result by 27,9 % due to an increase in credit life insurance , crop insurance and funeral cover income .
|
210
180
|
168 |
4 |
17 |
( 2 ) |
14 201 |
150 |
|
|
|
|
|
120 |
|
|
|
|
|
90 |
|
|
|
|
|
R ’ m
60
30 |
|
|
|
|
|
|
0 |
Results 2019 |
Higher Certisure margins |
Higher credit margin due to late harvest and settlements of debt |
Loyalty scheme expense |
Other |
Results 2020 |
76 ROOTED IN AGRICULTURE