to ensure transformation.
We believe that the land issue is vital to the
industry in terms of its sustainability. The stability of the producer
and the stability of the industry are of cardinal importance to us.
Our continued financing of land transactions can be viewed as our
conviction that a positive and sustained solution to the land issue
will be found.
Visit www.senwes.co
NationinConversation to watch
all the Nation in Conversation
episodes.
NATION IN CONVERSATION LOOKING AHEAD
The Senwes-initiated Nation in Conversation platform launched
three years ago made a significant impact this year by bringing
together all the major stakeholders, including the Minister of
Agriculture, during filming at Nampo. We are geared to manage the effects of the drought over the short
term by optimising the management of stock levels which, by all
accounts, are projected to be below the 10 million ton level in
South Africa. We remain on the lookout for strategic partnerships,
new markets and new commodities so as to diversify our portfolio
and be less reliant on the dynamics of our current areas of business.
A serious problem faced by our country is the unreliability of
power supply. As an emergency measure we have had to install
generators at our silos and retail outlets to ensure continuous
workflow when Eskom is unable to deliver. In addition, as a Group,
we have implemented key power and water saving measures and
we continue to monitor our green footprint.
ACKNOWLEDGEMENT
On behalf of the Board, I would like to thank all our stakeholders
across the spectrum of the value chain for contributing to
our success. Without the efforts of our staff, suppliers, clients,
customers, business partners and government, Senwes would not
be the successful agri-business that it is.
A special thank you to my fellow Board members and the Exco
team for your support and guidance of the company. I would also
like to take this opportunity to wish Ruwayda Redfearn a fond
farewell from the Board. We will miss her positive contributions
and we wish her all the best with her future endeavours. We
welcome Andrew Waller from Grindrod to the Board and we are
looking forward to his contributions. A special welcome to Joe
Maswanganyi, who has been appointed as Executive Director:
Strategy, Sustainability & Corporate Services on the Board of
Senwes.
RESULTS As always we honour and recognise our Heavenly Father for the
blessings bestowed upon us.
Normalised headline earnings of the Group increased by 77% to
175 cents per share due to the good grain year and a consequent
rise in the silo operations income. The profit after tax is R247
million (2014: R251 million). The Bunge Senwes business model
was established to address national commodity surpluses and
shortages. The performance of the joint venture was poor and
Senwes decided to exit the investment by the end of the financial
year. Even though the market conditions for capital goods were
difficult this year, the Mechanisation division managed to deliver
the second highest profit in its history. Danie Minnaar
Chairman: Senwes Limited
Klerksdorp
30 June 2015
Senwes INTEGRATED REPORT 2015
11