| Home | | |
|
| | Annual Financial Statements 2014 | | | Sustainability Report 2014 | | | Search |
 |
 |
About this report
 |
Imperial Holdings Limited
is a JSE-listed, South African-based
international group of companies
active in three major areas
of mobility:
|
Imperial employs around 52 000 people who generate revenues in excess of R100 billion in Africa, Europe, South America, Australia and the United States through five major divisions which operate under separate management structures to enable decentralised entrepreneurial creativity within the group’s clearlydefined strategic, capital, budgetary and governance principles.
Imperial strives for focused value creation and leadership in its chosen markets by allocating capital and resources to those organic and acquisitive growth opportunities that will enhance and be enhanced by the group’s existing assets and capabilities.
Some of Imperial’s strategic choices will be deliberate – the result of prior research and analysis, while others will be emergent – the result of unplanned or unexpected external developments. In both cases strictly defined capital allocation principles will be applied.
 |
“This report features three major aspects of Imperial’s progress in 2014: record revenue and operating profit; increasing contribution from non-vehicle and foreign-based operations; greater clarity on the strategic, structural and leadership direction of the group.
The urgency of our focus on daily priorities is balanced always by a long term perspective. Ten or more years from now our decisions must be judged as sound by all who have been touched by Imperial. To this end, detail on our stakeholder universe, and our general response to the issues we believe to be of concern to them, is included in this report and in the separate 2014 Imperial Sustainable Development Report. During the coming year we intend to enhance our understanding of and response to stakeholders, based on the findings of formal research into their expectations and requirements.
The ultimate objective of our endeavour is clear – to be leaders in our selected areas of mobility in pursuit of sustainable value for all Imperial stakeholders.”
MARK J LAMBERTI
Group CEO
We are pleased to present Imperial’s Integrated Annual Report for the 12 months to 30 June 2014.
|
This report seeks to explain the group’s strategic focus areas and future direction, and provide greater clarity on its business model and approach. It is our fourth Integrated Annual Report and the first report under the leadership of the new CEO Mark Lamberti. The report was compiled in a challenging business environment, which focused us as a management team on what is material in this context. As outlined on pages 12 to 14, we concentrate only on the relevant areas for stakeholders and for the group. We defined materiality based on input from stakeholder engagement at a group and divisional level, as well as senior management and board discussions. The group’s main stakeholders are outlined on pages 12 to 14. How the group operates is outlined on pages 06 to 11. Scope and boundary Imperial is listed on the Johannesburg Stock Exchange (JSE) under share code IPL. Imperial’s businesses, situated in Africa, Europe, the United Kingdom, Australia, South America and the United States of America are included in this report, as outlined on pages 06 to 11 and 50 to 95. The report includes summarised consolidated annual financial statements on pages 138 to 163, which were extracted from the audited consolidated annual financial statements.
The complete audited consolidated annual financial statements comply with International Financial Reporting Standards (IFRS), JSE Listings Requirements and the South African Companies Act, 2008 (the Act). The Integrated Reporting Framework published by the International Integrated Reporting Council in December 2013 was also considered, as well as the King III Report on Corporate Governance (King III) for South African reports. The group has documented its assessment of the 75 King III principles in a register, as well as a response table to the relevant GRI indicators on the group website at www.imperial.co.za. The separate sustainable development report can also be found on the group’s website. This report expands on the sustainable development issues relevant to the group from a broader stakeholder perspective, and aims to focus more this year on what is meaningful to the group and its stakeholders. The report includes disclosures from the G4 Sustainability Reporting Guidelines. The group is moving towards full compliance with these newly-introduced guidelines in the short to medium term. Approvals The audit committee is responsible for the content of this report and recommended the report to the board for its approval. Our independent auditor, Deloitte & Touche, issued an unmodified audit opinion on the consolidated annual financial statements and on the summarised consolidated annual financial statements for the year ended 30 June 2014, as set out on pages 138 to 163. The audit was conducted in accordance with International Standards on Auditing. The unmodified audit opinion on the group’s consolidated annual financial statements is incorporated in the group’s consolidated annual financial statements. Any reference to future financial performance in the report has not been reviewed or reported on by the group’s auditors. Non-financial data is not yet subject to external audit, although it is the objective of the group to move towards external assurance of this data within a three-year time horizon. |