Senwes Integrated Reports Senwes 2018/2019 Integrated Report (b)

THE PERFORMANCE SENWES GROUP 5-YEAR REVIEW FINANCIAL AND OPERATING RATIOS 2019 R’m 2018 R’m 2017 R’m 2016 R’m 2015 R’m 1 976 1 777 1 545 1 214 4 154 3 484 3 115 3 533 6 130 5 261 4 660 4 747 STATEMENT OF FINANCIAL POSITION Assets Non-current assets 2 218 Current assets 3 842 Total assets 6 060 Equity and liabilities Capital and reserves 2 159 1 970 1 863 1 781 20 19 19 17 2 179 1 989 1 882 1 798 1 088 1 002 1 002 1 007 2 863 2 270 1 776 1 942 6 130 5 261 4 660 4 747 3 031 2 617 2 200 2 161 348 321 309 230 219 1 485 1 425 1 350 1 429 1 463 758 942 741 493 556 2 336 Non-controlling interest 27 Equity 2 363 Non-current liabilities 1 168 Current liabilities 2 529 Total equity and liabilities Interest-bearing liabilities included in current and non-current liabilities 6 060 2 883 INCOME STATEMENT PER SEGMENT Revenue * Financial Services (Senwes Credit, Senwes Asset Finance, Certisure group and Molemi Sele) Input Supply (Senwes Equipment, JD Implemente, Staalmeester, Hinterland group and Bastion Lime group) Market Access (Senwes Grainlink, Tradevantage, Senwes Graanmakelaars, Grainovation and ESC) Normal operating activities Corporate income 2 591 2 688 104 97 101 88 2 687 2 792 2 497 2 253 2 326 147 74 99 96 Income from continuing operations Profit/(loss) Financial Services (Senwes Credit, Senwes Asset Finance, Certisure group and Molemi Sele) 168 Normal operating activities Corporate costs Taxation CASH FLOW STATEMENT Profit before tax Normalised headline earnings per share Net asset value per share Closing market price per share Total dividends for the year Number of ordinary shares (ʼm) Weighted average number in issue Number in issue at year-end Cents per share Earnings Normalised headline earnings Diluted normalised headline earnings Closing market price Total dividends for the year Final dividend proposed Interim dividend paid Percentage Price-book ratio Dividend yield 89 300 412 85 174 210 Times 498 513 275 253 398 Dividend cover (81) (46) (40) (65) 398 432 229 213 333 SHAREHOLDER RETURN (%) (121) (62) (57) (86) 283 311 167 156 247 2 1 1 3 4 (213) (223) (204) (164) (137) 708 813 457 500 575 Dividend yield on average market price Price earnings ratio Return on opening equity Return on average equity Total shareholder return (on opening market price) (dividends & capital growth) Total shareholder return (on average market price) (dividends & capital growth) PRODUCTIVITY Number of employees Change in working capital (193) (128) 33 (17) (327) - - - 1 Return on total assets - EBIT (%) Total finance costs, tax and dividends paid (376) (64) Other operating income - Finance costs paid Tax paid Dividends paid Net cash flow from / (used in) operating activities Net cash (used in)/from investment activities Net cash (used in)/from financing activities Operating profit per employee (R’000) (399) (325) (319) (314) Operating profit as % of income * (213) (223) (204) (164) (137) Effective tax rate (%) (86) (50) (66) (98) (99) (90) (71) (89) (79) 286 165 164 (65) (104) (256) (186) (142) 53 (47) - - (5) 34 (17) (21) 22 (17) 139 Net increase/(decrease) in cash and cash equivalents (1) * Refer to note 32 of the full annual financial statements for more detail regarding the reclassification of income items. 2017 2016 2015 (1,1) 16,5 12,9 (1,8) 15,0 8,0 9,6 5,7 4,7 10,0 7,6 (4,9) 15,8 18,9 1,8 10,2 8,0 (3,8) 11,8 10,8 (3,1) (43,7) (8,2) (7,9) 88,6 7,5 (36,0) 0,6 3,8 (9,2) 80,4 36,6 (54,7) 77,0 12,4 7,7 11,8 5,7 4,6 10,1 8,0 - 5,8 (1,0) (8,7) 7,0 0,5 11,1 20,0 - (10,0) 4,2 4,6 166,18 167,27 168,88 168,88 169,21 166,30 165,58 168,88 168,88 168,88 169,1 SOLVENCY AND LIQUIDITY Equity as % net assets Equity as % of total assets (own capital ratio) Gearing ratio (%) Non-interest-bearing liabilities as % of equity Financing costs paid (R’m) Interest cover - EBITDA (times) Current ratio Quick asset ratio 185,3 98,3 90,6 143,4 3,3 177,5 195,5 108,4 79,3 175,2 12,4 180,9 101,2 74,1 164,0 12,4 1 404,7 1 303,9 1 166,5 1 103,1 1 054,6 8,0 1 100,0 1 100,0 1 040,0 1 050,0 1 150,0 0,5 60,0 54,0 45,0 45,0 50,0 30,0 27,0 25,0 20,0 26,0 30,0 27,0 20,0 25,0 24,0 78,3 169,1 Net asset value Revenue/equity (times) * Cash from operating activities 2018 PERFORMANCE OF ORDINARY SHARES 5 Non-controlling interest Finance charges included in results Total revenue from continuing operations * 43 (115) Profit for the year 2 238 2019 8,4 Interest–bearing liabilities (59) (100) Profit before tax 2 152 Total shareholder interest 30 Input Supply (Senwes Equipment, JD Implemente, Staalmeester, Hinterland group and Bastion Lime group) Market Access (Senwes Grainlink, Tradevantage, Senwes Graanmakelaars, Grainovation and ESC) 160 2 400 FINANCIAL GROWTH (%) Total assets 5-year compounded annual growth % 84,4 89,2 95,2 109,0 5,5 5,2 4,3 3,9 4,7 5,5 5,0 4,3 4,1 4,5 6,2 5,6 9,6 13,2 6,6 2,8 3,4 2,2 2,0 2,9 13,0 5,5 15,7 8,9 8,6 15,0 12,5 15,0 8,7 8,4 14,3 11,0 3,3 (4,8) 11,6 5,5 10,7 3,3 (5,0) 11,2 1,3 1,3 1,2 1,3 1 624 1 613 1 540 1 412 1 482 409 269 264 360 10,1 10,7 8,2 7,7 11,4 22,5 23,6 16,6 17,3 19,9 29 28 27 27 26 45 42 43 46 45 36 38 40 38 121 139 131 115 119 42 33 31 44 (213) (223) (204) (164) (137) 3,1 3,1 2,3 2,5 3,7 1,5 1,5 1,5 1,8 1,8 1,2 1,1 1,2 1,3 1,2 1,1 373 39 34 * Refer to note 32 of the full annual financial statements for more detail regarding the reclassification of income items. 62 SENWES INTEGRATED REPORT 2019 SENWES INTEGRATED REPORT 2019 63

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