Seven year review    
     
     
   
    2008    2007  2006  2005* 2004** 2003** 2002**  
      Rm    Rm  Rm  Rm  Rm    Rm    Rm     
CONDENSED BALANCE SHEETS                      
ASSETS                      
Property, plant and equipment     569,6    565,7  455,4  328,4  196,2   213,7   157,1    
Intangible assets     21,7    13,0  11,9  7,9  —   —   —    
Goodwill     415,3    372,8  326,8  329,0  324,8   306,9   360,0    
Investments and loans     865,3    727,9  148,8  116,2  109,9   20,8   151,6    
RCCF accounts receivable     1 957,0    —  1 403,8  1 028,2  528,5†  1 220,0   953,9    
Deferred taxation assets     32,0    37,9  59,1  37,5  56,2   33,1   25,9    
Cash and cash equivalents     794,6    530,6  969,3  784,4  451,3   484,8   283,5    
RCCF bank balances and cash     82,0    —  —  —  —   —   —    
Other current assets#     2 938,1    2 631,2  2 284,7  1 570,9  1 422,9   1 367,9   1 401,5    
Total assets     7 675,6    4 879,1  5 659,8  4 202,5  3 089,8   3 647,2   3 333,5    
EQUITY AND LIABILITIES                      
Ordinary and preference equity holders                      
of Reunert     3 675,4    2 469,0  1 680,9  1 561,7  983,1   1 156,5   1 071,1    
Minority interest     20,7    14,4  38,2  43,0  39,7   121,2   103,5    
Total equity     3 696,1    2 483,4  1 719,1  1 604,7  1 022,8   1 277,7   1 174,6    
Deferred taxation liabilities     208,2    115,8  141,6  81,7  44,3   63,8   45,9    
Long-term borrowings     12,8    278,8  115,0  111,7  —   —   —    
RCCF long-term borrowings     699,9    —  —  —  —   —   —    
RCCF short-term borrowings     1 164,4    —  1 187,9  866,8  314,1†  900,7   838,0    
Current liabilities#     1 894,2    2 001,1  2 496,2  1 537,6  1 708,6   1 405,0   1 275,0    
Total equity and liabilities     7 675,6    4 879,1  5 659,8  4 202,5  3 089,8   3 647,2   3 333,5    
CONDENSED INCOME STATEMENTS                      
Revenue     10 921,1    9 574,4  8 236,4  7 012,0  6 247,3   6 103,9   5 062,9    
Operating profit     1 572,6    1 318,7  1 272,7  917,3  700,5   607,7   472,1    
Net interest and dividends received     60,3    54,8  64,9  50,1  65,1  45,2   36,5    
Profit before abnormal items     1 632,9    1 373,5  1 337,6  967,4  765,6   652,9   508,6    
Abnormal items     1,5    (447,6) 1,6  3,9  6,0   —   (18,7)   
Profit before taxation     1 634,4    925,9  1 339,2  971,3  771,6   652,9   489,9    
Taxation     (486,8)   (427,4) (500,5) (326,5) (309,0) (224,4)  (177,3)   
Profit after taxation     1 147,6    498,5  838,7  644,8  462,6   428,5   312,6    
Share of associate companies’ profits/(losses)     16,1    148,4  95,2  79,2  66,8   (82,6)  89,6    
Profit for the year     1 163,7    646,9  933,9  724,0  529,4   345,9   402,2    
Profit for the year attributable to:                      
Minority interest     7,1    7,6  11,1  10,7  51,0   50,5   31,6    
Equity holders of Reunert     1 156,6    639,3  922,8  713,3  478,4   295,4   370,6    
      1 163,7    646,9  933,9  724,0  529,4   345,9   402,2    
Headline earnings attributable to equity                      
holders of Reunert     1 159,8    481,3  918,6  708,1  526,9   345,6   429,3    
CONDENSED CASH FLOW STATEMENTS                      
EBITDA     1 659,2    1 393,0  1 335,9  967,2  811,9   712,3   559,7    
Changes in working capital     (295,2)   (439,0) (252,8) (101,3) 113,0   210,5   (157,2)   
Cash generated from operations excluding                      
changes in RCCF receivables     1 364,0    954,0  1 083,1  865,9  924,9   922,8   402,5    
Net interest and dividends received     147,2    200,8  120,9  119,3  65,1   45,2  144,9    
Taxation paid     (410,8)   (568,6) (347,4) (364,9) (313,5)  (178,7)  (209,0)   
Dividends paid     (569,0)   (879,3) (464,2) (308,3) (268,1)  (258,4)  (201,0)   
Share buy back     —    —  —  —  (476,6)  —   —    
Other (net)     19,4    23,7  (4,3) 29,3  (5,8)  (2,8)  12,5    
Net cash flows from operating activities excluding changes
in RCCF receivables
    550,8    (269,4) 388,1  341,3  (74,0)  528,1   149,9    
Net cash flows from investing activities     (921,3)   1 008,6  (185,7) (48,5) (250,1)  (102,8)  (466,3)   
Net cash flows from financing activities     (380,3)   274,5  27,0  156,1  18,7   (17,5)  2,2    
Net cash (utilised)/generated (before RCCF receivables)     (750,8)   1 013,7  229,4  448,9  (305,4)  407,8   (314,2)   
(Increase)/decrease in RCCF receivables     (32,5)°   (300,7)° (375,6) (499,7) 691,5†   (269,8)  (208,8)   
Net cash (utilised)/generated     (783,3)   713,0  (146,2) (50,8) 386,1   138,0   (523,0)   
*   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 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 RCCF debtors book.
° Increase in RCCF receivables while it was a consolidated subsidiary (refer to note 34).
#   In the prior years inventory items were shown net of advance payments received from customers. These utilised advanced payments are now disclosed
in current liabilities.
 
 
  | Back to top