24.1.4 Capital maintenance guidelines
Capital includes equity attributable to the equity holders of the parent. The group maintains its own capital ratio
within the following guidelines:
GROUP
2020 2019
Capital maintenance
OWN
CAPITAL
RATIO
OWN
CAPITAL
RATIO
Total assets 9 065 6 783
Equity 3 401 2 850
Liabilities 5 664 3 933
Total equity and liabilities 9 065 6 783
Calculated rate (%) 38% 42%
Set target band (%) 35%-45% 35%-45%
The own capital ratio is the percentage of equity to total assets. The own capital ratio is at a lower level than the previous
year and is still within the set target band. The policy in respect of the maintenance of capital is in accordance with the
previous financial year.
GROUP
Interest cover
2020
R’m
2019 *
R’m
Earnings before interest, tax, depreciation and amortisation (EBITDA) 618 528
Finance costs 92 82
Calculated interest cover (times) 6,7 6,4
Set target (times) >2,5 >2,5
The interest cover exceeds the minimum set target of 2,5.
* Change in presentation of finance costs and cost of sales. Refer to note 35.
Senwesbel Limited Reg no: 1996/017629/06 SENWESBEL ANNUAL FINANCIAL STATEMENTS 2020 66