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  ANNUAL REPORT 2007  
FIVE-YEAR financial review    
 
 
 
  2007       
Rm       
2006 
Rm 
2005*
Rm 
2004**  
Rm     
2003**  
Rm    
CONSOLIDATED BALANCE SHEETS          
ASSETS          
Property, plant and equipment 565,7        455,4  328,4  196,2     213,7    
Intangible assets 13,0        11,9  7,9  —     —    
Goodwill 372,8        326,8  329,0  324,8     306,9    
Investments and loans 727,9        148,8  116,2  109,9     20,8    
RCCF accounts receivable —        1 403,8  1 028,2  528,5*** 1 220,0    
Deferred taxation assets 37,9        59,1  37,5  56,2     33,1    
Cash and cash equivalents 530,6        969,3  784,4  451,3     484,8    
Other current assets 2 595,9        2 274,3  1 565,8  1 420,6     1 358,5    
Total assets 4 843,8        5 649,4  4 197,4  3 087,5     3 637,8    
EQUITY AND LIABILITIES          
Ordinary and preference equity holders of Reunert 2 469,0        1 680,9  1 561,7  983,1     1 156,5    
Minority interest 14,4        38,2  43,0  39,7     121,2    
Total equity 2 483,4        1 719,1  1 604,7  1 022,8     1 277,7    
Deferred taxation liabilities 115,8        141,6  81,7  44,3     63,8    
Long-term borrowings 278,8        115,0  111,7  —     —    
RCCF short-term borrowings —        1 187,9  866,8  314,1*** 900,7    
Current liabilities 1 965,8        2 485,8  1 532,5  1 706,3     1 395,6    
Total equity and liabilities 4 843,8        5 649,4  4 197,4  3 087,5     3 637,8    
CONSOLIDATED INCOME STATEMENTS          
Revenue 9 574,4        8 236,4  7 012,0  6 247,3     6 103,9    
Operating profit 1 318,7        1 272,7  917,3  700,5     607,7    
Net interest and dividends received 54,8        64,9  50,1  65,1     45,2    
Profit before abnormal items 1 373,5        1 337,6  967,4  765,6     652,9    
Abnormal items (447,6)       1,6  3,9  6,0     —    
Profit before taxation 925,9        1 339,2  971,3  771,6     652,9    
Taxation (427,4)       (500,5) (326,5) (309,0)    (224,4)   
Profit after taxation 498,5        838,7  644,8  462,6     428,5    
Share of associate companies’ profits/(losses) 148,4        95,2  79,2  66,8     (82,6)   
Profit for the year 646,9        933,9  724,0  529,4     345,9    
Profit for the year attributable to:          
Minority interest 7,6        11,1  10,7  51,0     50,5    
Equity holders of Reunert 639,3        922,8  713,3  478,4     295,4    
  646,9        933,9  724,0  529,4     345,9    
Headline earnings attributable to equity holders of Reunert 481,3        918,6  708,1  526,9     345,6    
CONSOLIDATED CASH FLOW STATEMENTS          
EBITDA 1 393,0        1 335,9  967,2  811,9     712,3    
Changes in working capital (439,0)       (252,8) (101,3) 113,0     210,5    
Cash generated from operations excluding changes in RCCF receivables 954,0        1 083,1  865,9  924,9     922,8    
Net interest and dividends received 200,8        120,9  119,3  65,1     45,2    
Taxation paid (568,6)       (347,4) (364,9) (313,5)    (178,7)   
Ordinary dividends paid (879,3)       (464,2) (308,3) (268,1)    (258,4)   
Share buy back —        —  —  (476,6)    —    
Other (net) 23,7        (4,3) 29,3  (5,8)    (2,8)   
Net cash flows from operating activities excluding changes in          
RCCF receivables (269,4)       388,1  341,3  (74,0)    528,1   
Net cash flows from investing activities 1 008,6        (185,7) (48,5) (250,1)    (102,8)  
Net cash flows from financing activities 274,5        27,0  156,1  18,7     (17,5)  
Net cash generated/(utilised) (before RCCF receivables) 1 013,7        229,4  448,9  (305,4)    407,8   
(Increase)/decrease in RCCF receivables (300,7)**** (375,6) (499,7) 691,5*** (269,8)  
Net cash generated/(utilised) 713,0        (146,2) (50,8) 386,1     138,0   
*   The 2005 information has been restated to take account of the effect of adopting SAICA Circular 9/2006 and IFRS on 1 October 2004.
**   The 2003 and 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 RCCF debtors book.
****   Increase in RCCF receivables up to the date of transfer.
     
 
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