OVERVIEW
ABOUT OUR INTEGRATED REPORT
OUR APPROACH TO REPORTING
Purpose and Target Audience
The primary purpose of Senwes’ integrated report is to demon-
strate to the providers of financial capital and potential investors,
how Senwes creates value over time. The report also provides
stakeholders with a balanced, accurate and transparent assess-
ment on whether the company can deliver on its brand promise.
Scope and Essence
The report extends beyond financial reporting and includes non-
financial information attributable to, or associated with, our key
stakeholders, who have a significant impact on the group’s 1 ability
to create value.
The group’s ability to create value for stakeholders over the short,
medium and long term is illustrated through the value creating
business model, strategies, risk assessments, opportunities, per-
formance and governance, and forms the essence of the 2019
Senwes integrated report.
Reporting Period and Boundaries
The Senwes integrated report is compiled and published annually
and this report focuses on the activities and operations of the
group for the period 1 May 2018 to 30 April 2019.
The group refers to Senwes, its subsidiaries, joint ventures and associate.
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KEY CONCEPTS
Defining Value
Value is the instance where the consequence of our suc-
cessful resource application has a positive impact on a
stakeholder.
Defining materiality
Materiality is the actions or issues of substantial importance
that affect the group’s ability to create value over the short,
medium and long term.
Defining short, medium and long term
Short term is less than 12 months, medium term is one to
three years and long term is beyond three years.
Defining the capitals
Capitals are the fundamental stocks of value which the or-
ganisation depends on for its success and which increases,
decreases or are transformed through the activities and out-
puts of the group. The capitals are categorised as: financial,
manufacturing, intellectual, human, social and relationship
as well as natural capital.
Defining integrated thinking
Integrated thinking is the process where the relationships
between the various operating units and the capitals are
actively considered in decision-making and actions to add
value over the short, medium and long term.
GUIDELINES AND REQUIREMENTS
Reporting Frameworks
This report pertains to the activities of the 2018/2019
financial year and is guided by the principles and guide-
lines set out by the International Integrated Reporting
Framework, the International Financial Reporting Stan-
dards (IFRS), the Companies Act of South Africa, No 71
of 2008 (as amended), the King Code of Governance
Principles for South Africa, 2016 (King IV™) and the De-
partment of Trade and Industry’s Codes for Broad-based
Black Economic Empowerment.
Combined Assurance
The group’s external auditor, Ernst & Young Inc. (EY), has
conducted an independent audit of the group’s consoli-
dated annual financial statements. The rest of the report,
consisting of non-financial information, has not been
subjected to an independent audit or review and has
been compiled, based on internal records and informa-
tion in the public domain under supervision of CF Kruger,
CA (SA), Chief Financial Officer.
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SENWES INTEGRATED REPORT 2019
BOARD RESPONSIBILITY
STATEMENT
The Senwes board of directors acknow
ledges its responsibility to ensure the
integrity of the information presented in
this integrated report. According to the
board and executive committee, the in-
formation presented in this integrated
report provides a fair and balanced view
of the group’s performance and matters
considered to be material in the value
creation process of Senwes.
Photo taken at Senwes Head Office.
FORWARD-LOOKING STATEMENTS
This report may include forward-looking statements, which relate
to Senwes’ future performance and prospects. These statements
represent the group’s judgements and expectations, but by its
nature, involve risk and uncertainty as they relate to events and
depend on circumstances that may or may not occur in the fu-
ture.
The group does not undertake to update or revise any of these
forward-looking statements publicly, whether to reflect new in-
formation, future events or otherwise. The forward-looking state-
ments have not been audited, reviewed or reported on by EY.
Danie Minnaar
Chairman
Francois Strydom
Chief Executive Officer
27 June 2019
Klerksdorp
SENWES INTEGRATED REPORT 2019
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