OMNIA HOLDINGS ANNUAL REPORT 2011 - FIVE-YEAR FINANCIAL REVIEW

Five-year financial review

for the year ended 31 March 2011

2011
Rm

2010
Rm

2009
Rm

2008
Rm

2007
Rm

Income statements

Revenue

9 368

8 827

11 111

7 340

5 537

Operating profit

687

279

877

584

422

Finance costs, net

(83)

(173)

(164)

(112)

(58)

Income from associates*

(2)

–

Profit before taxation

602

109

718

472

364

Taxation

(151)

(51)

(227)

(159)

(118)

Profit for the year

451

491

313

246

Non-controlling interest

(3)

(2)

–

Profit attributable to owners of Omnia

Holdings Limited

448

491

317

246

Impairment of property, plant and equipment^#

–

Impairment of intangible assets⁺

–

Loss/(profit) on disposal of property, plant

and equipment

(4)

–

(1)

Profit on businesses contributed to associate

–

(20)

–

Headline earnings

447

494

319

245

Ordinary dividends paid during the year

Prior year final

–

(40)

(51)

(40)

(38)

Current year interim

–

(45)

(36)

(30)

–

(40)

(96)

(76)

(68)

Balance sheets

Capital and reserves attributable to owners

of Omnia Holdings Limited

3 338

1 973

2 139

1 583

1 248

Non-controlling interest

(2)

Non-current liabilities

281

805

671

288

Deferred income tax liabilities

130

118

104

Current liabilities

2 554

2 331

2 831

2 466

1 757

Equity and liabilities

6 304

5 187

5 757

4 439

3 123

Non-current fixed assets and investments

2 032

1 398

1 155

995

760

Non-current intangible assets

523

537

517

436

Deferred income tax assets

Current assets

3 743

3 243

4 071

2 919

1 924

Assets

6 304

5 187

5 757

4 439

3 123

Net debt

342

404

952

451

265

Cash flows

Cash generated from operations

820

524

1 053

689

496

Financial costs and taxation

(174)

(284)

(452)

(252)

(162)

Movement in working capital

(755)

805

(744)

(138)

(60)

Cash (utilised by)/available from operating

activities

(109)

1 045

(143)

299

274

Dividends paid

–

(40)

(96)

(76)

(68)

Net cash (out flow)/in flow from operating

activities

(109)

1 005

(239)

223

206

Net cash out flow from investing activities

(783)

(466)

(257)

(413)

(175)

Net cash in flow from financing activities

852

180

389

323

Net (decrease)/increase in cash and cash

equivalents

(40)

719

(107)

133

Interest in Zambian associate (ETC Bio-Energy Limited) and South African associate (Nalco Africa (Pty) Limited) equity accounted for.

Property, plant and equipment in Zimbabwe.

Distribution contracts.

2011
Rm

2010
Rm

2009
Rm

2008
Rm

2007
Rm

Statistical information

Earnings, dividends and issued shares

Basic earnings per share (cents)

768,2

116,4

1 056,7

685,3

534,6

Headline earnings per share (cents)

766,5

76,9

1 063,0

691,8

532,6

Dividends per share for the year (cents)*

–

250,0

200,0

160,0

Interim dividend per share (cents)

–

100,0

83,0

70,0

Dividend cover

–

4,4

3,6

3,5

Net asset value per share (cents)

5 035

4 240

4 816

3 572

2 844

Number of shares in issue at year-end (‘000)

66 307

46 491

44 370

44 263

43 943

Number of shares held by share incentive

scheme and not included above ('000)

943

759

807

914

1 234

Number of employees

2 830

2 668

2 498

2 388

1 926

Profitability, liquidity and leverage

Operating profit as a percentage of revenue

7,3%

3,2%

7,9%

8,0%

7,6%

Effective tax rate (including secondary tax

on companies)

25,1%

46,8%

31,6%

33,6%

32,5%

Return on average equity

16,4%

2,7%

31,1%

24,3%

21,6%

Net debt to equity percentage

10,2%

20,5%

44,5%

28,5%

21,2%

Current ratio

1,5

1,4

1,2

1,1

Net debt EBITDA cover

0,4

0,9

0,6

0,5

EBITDA finance cost cover

10,3

2,7

6,3

6,0

8,7

Share performance

Market value per share (cents)

– at year-end

7 324

6 289

5 200

7 100

6 600

– highest

7 750

6 360

8 398

8 400

6 700

– lowest

5 550

4 901

4 000

6 255

4 170

Value of shares traded (‘000)

2 047 702

953 664

1 457 948

1 392 093

1 127 461

Volume of shares traded (‘000)

18 540

16 493

22 324

19 178

20 896

Share volumes traded as a percentage of total

issued shares

27,6%

34,9%

49,4%

42,5%

46,3%

Definitions

Earnings per share – profit attributable to ordinary shareholders divided by the weighted average number of ordinary shares in issue during the year, excluding shares held by the share incentive scheme.

Headline earnings per share – profit attributable to ordinary shareholders adjusted in terms of IAS 33 divided by the weighted average number of ordinary shares in issue during the year, excluding shares held by the share incentive scheme.

Dividend cover – earnings per share divided by the dividend per share for the year.

Net asset value per share – ordinary shareholders’ equity and minority interest divided by number of shares in issue at year-end, excluding shares held by the share incentive scheme.

Number of shares in issue at year-end – shares issued less shares held by the share incentive scheme.

Return on average equity – profit attributable to ordinary shareholders expressed as a percentage of the average opening and closing ordinary shareholders’ equity.

Net debt:equity percentage – debt expressed as a percentage of all ordinary shareholders’ equity plus minority interest.

Net debt:interest-bearing debt net of cash resources.

Current ratio – current assets divided by current liabilities.

10.

EBITDA – operating profit before finance cost, tax, depreciation, amortisation and share-based payment expense.

11.

Net debt EBITDA cover – net debt divided by EBITDA.

12.

EBITDA finance cost cover – EBITDA divided by finance cost.

Includes a capitalisation award of 150 cents as a nal dividend for the 2009 year. Shareholders could elect to receive a cash dividend of 145 cents instead of the capitalisation award.

Segmental information

2011
Rm

2010
Rm

2009
Rm

2008
Rm

2007
Rm

Chemicals