Contents
FIVE-YEAR FINANCIAL REVIEW
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Financial highlights
Group @ a glance
Letter to shareholders
Board of directors
Management discussion ►
Building and developing people
Environmental issues
Corporate governance
Segmental analysis
Five-year financial review
Summary of statistics
Definitions
Value added statement
Annual financial statements
Notice of annual general meeting - PDF 106kb
 
  2006 
Rm 
2005*
Rm 
2004**
Rm   
2003**
Rm   
2002**
Rm   
CONSOLIDATED BALANCE SHEETS          
ASSETS          
Property, plant and equipment 455,4  328,4  196,2    213,7    157,1   
Intangible assets 11,9  7,9       
Goodwill 326,8  329,0  324,8    306,9    360,0   
Investments and loans 148,8  116,2  109,9    20,8    151,6   
RC&C Finance Company (RCCF) accounts receivable*** 1 403,8  1 028,2  528,5    1 220,0    953,9   
Deferred taxation assets 59,1  37,5  56,2    33,1    25,9   
Cash and cash equivalents 969,3  784,4  451,3    484,8    283,5   
Other current assets 2 274,3  1 565,8  1 420,6    1 358,5    1 372,7   
Total assets 5 649,4  4 197,4  3 087,5    3 637,8    3 304,7   
EQUITY AND LIABILITIES          
Ordinary and preference equity holders of Reunert Ltd 1 680,9  1 561,7  983,1    1 156,5    1 071,1   
Minority interest 38,2  43,0  39,7    121,2    103,5   
Total equity 1 719,1  1 604,7  1 022,8    1 277,7    1 174,6   
Deferred taxation liabilities 141,6  81,7  44,3    63,8    45,9   
Long-term borrowings 115,0  111,7  —    —    —   
RCCF short-term borrowings*** 1 187,9  866,8  314,1    900,7    838,0   
Current liabilities 2 485,8  1 532,5  1 706,3    1 395,6    1 246,2   
Total equity and liabilities 5 649,4  4 197,4  3 087,5    3 637,8    3 304,7   
CONSOLIDATED INCOME STATEMENTS          
Revenue 8 236,4  7 012,0  6 247,3    6 103,9    5 062,9   
Operating profit 1 272,7  917,3  700,5    607,7    472,1   
Net interest and dividends received 64,9  50,1  65,1    45,2    36,5   
Profit before abnormal items 1337,6  967,4  765,6    652,9    508,6   
Abnormal items 1,6  3,9  6,0    —    (18,7)  
Profit before taxation 1 339,2  971,3  771,6    652,9    489,9   
Taxation (500,5) (326,5) (309,0)   (224,4)   (177,3)  
Profit after taxation 838,7  644,8  462,6    428,5    312,6   
Share of associate company’s profits/(losses) 95,2  79,2  66,8    (82,6)   89,6   
Profit for the period 933,9  724,0  529,4    345,9    402,2   
Profit for the period attributable to:          
Minority interest 11,1  10,7  51,0    50,5    31,6   
Equity holders of Reunert Ltd 922,8  713,3  478,4    295,4    370,6   
  933,9  724,0  529,4    345,9    402,2   
Headline earnings attributable to equity holders
of Reunert Limited
918,6  708,1  526,9    345,6    429,3   
Headline earnings per share (cents) 524,6  408,4  277,5    183,5    229,5   
Basic earnings per share (cents) 527,0  411,4  251,9    156,9    198,1   
CONSOLIDATED CASH FLOW STATEMENTS          
EBITDA 1 335,9  967,2  811,9    712,3    559,7   
Changes in working capital (252,8) (101,3) 113,0    210,5    (157,2)  
Cash generated from operations 1 083,1  865,9  924,9    922,8    402,5   
Net interest and dividends received 120,9  119,3  65,1    45,2    144,9   
Taxation paid (347,4) (364,9) (313,5)   (178,7)   (209,0)  
Ordinary dividends paid (464,2) (308,3) (268,1)   (258,4)   (201,0)  
Share buyback —  —  (476,6)   —    —   
Acquisition of assets, businesses and investments
and other
(162,5) 7,5  (237,2)   (123,1)   (451,6)  
Net long-term borrowings (repaid)/raised (0,5) 129,4  —    —    —   
Net cash generated/(utilised)
(before RCCF receivables)
229,4  448,9  (305,4)   407,8    (314,2)  
(Increase)/decrease in RCCF receivables*** (375,6) (499,7) 691,5    (269,8)   (208,8)  
Net cash (utilised)/generated (146,2) (50,8) 386,1    138,0    (523,0)  
 
*  
The 2005 information has been restated to take account of the effect of adopting IFRS on 1 October 2004 and SAICA Circular 9/2006.
**  
The 2002 to 2004 information has not been restated to take account of the effect of adopting IFRS and is therefore still in terms of SA GAAP.
***  
In December 2003 R1 255,5 million was received on the sale of the RC&C Finance Company debtors book.
   
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