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Content
Highlights Accounting policies
Letter to shareholders Income statements
Board and governance structure Balance sheets
Group overview Cash flow statements
Building and developing people Notes to the cash flow statements
Corporate governance Statement of changes in equity
Value added statement Notes to the annual financial statements
Segmental analysis Principal subsidiaries
Five-year financial review Share ownership analysis
Summary of statistics Shareholders' diary
Definitions Corporate administration and information
Directors' responsibility Notice of annual general meeting
Report of the independent auditors Currency conversion table
Secretaries' certification Proxy form
Statutory information  

SUMMARY OF STATISTICS
2003 2002 2001 2000* 1999

SHARES
Number of ordinary shares on which
earnings per share is based (million)
188,3 187,0 191,7 203,7 200,4
Net worth per share (cents) - tangible only 450 380 464 454 336
Net worth per share (cents) - including intangibles 612 572 470 454 336
Headline earnings per share (cents) 183,5 229,5 174,8 139,6 136,8
Pro forma headline earnings per share (cents) 183,5 229,5 174,8 139,6 107,7
Basic earnings per share (cents) 156,9 198,1 173,3 179,2 179,2
Dividends per share (cents)
- normal for the year 120,0 118,0 91,0 76,0 58,0
- special ­ ­ ­ 250,0
Dividend cover (times) 1,5 1,9 1,9 1,8 2,4
Cash flow per share (cents) 417,7 187,9 187,9 179,9 241,4
Ordinary shares in issue (million) 206,0 204,4 204,1 204,0 200,5
Number of transactions - JSE 11 308 12 765 9 245 9 735 9 150
Number of shares traded (million) 76,4 76,4 67,0 79,0 122,8
Value of shares traded (R million) 1 380,4 1 438,2 969,2 691,2 987,6
Number of shares traded as a percentage of issued shares 37,1 37,4 32,9 39,0 61,2
Market price per share (cents)
- year-end 1 710 1 860 1 615 1 125 800
- highest 2 230 2 220 1 850 1 230 1 000
- lowest 1 560 1 610 980 540 490
Earnings yield (%) at year-end 10,7 12,3 10,8 12,4 17,1
Dividend yield (%) at year-end 7,0 6,3 5,6 6,8 7,3
Price: Earnings ratio (times) 9,3 8,1 9,2 8,1 5,8
Market capitalisation (R million) 3 523 3 802 3 295 2 295 1 604
JSE actuaries electronics sector index at year-end
(adjusted base 1999 = 2 346)
3 852 3 887 3 727 2 937 2 346

OTHER
Number of employees 4 918 4 318 4 148 3 716 6 775
Revenue per employee (R000) 1 241 1 173 1 020 899 674
Operating profit per employee (R000) 124 109 91 74 44
Wealth created per employee (R000) 335 312 297 296 239
Employment cost per employee (R000) 142 130 118 109 119

PROFITABILITY, ASSET MANAGEMENT,
LIQUIDITY AND LEVERAGE
EBITDA as a percentage of turnover (%) 11,7 11,1 10,1 9,2 8,0
Operating margin (%) 10,0 9,3 9,0 8,2 6,5
Net asset turn (times) 6,8 5,9 5,2 4,8 7,5
Return on ordinary shareholders' funds (%) 31,0 44,1 37,3 26,1 34,0
Return on net operating assets (%) 63,5 70,0 57,4 50,2 62,3
Return on net operating assets excluding
investments in associates (%)
78,4 71,5 57,7 48,0 61,7
Taxation as a percentage of profit before taxation
(excluding abnormal items)
34,4 34,9 33,2 34,3 37,6
Total liabilities to total shareholders' funds (%) 179,8 177,4 145,2 118,0 192,9
Net borrowings/(cash) to total
shareholders' funds (%)
32,8 47,5 3,4 (7,1) (104,7)
Current ratio 1,6 1,6 1,5 1,4 1,3
Interest cover (times) 12,1 25,5 34,3 9,6 N/A
* Only the 2000 and 2001 statistics have been restated to take account of the change of accounting policies adopted on 1 October 2001 of depreciating all properties and accounting for dividends in the period that the declaration takes place.

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Copyright - Reunert - 2003