Imperial

Primary segmental information – Continuing operations

	Imperial Logistics					Logistics South Africa					Logistics African Regions					Logistics International
Profit or loss for the year ended 30 June	2019  Rm		2018  Rm			2019  Rm		2018  Rm			2019  Rm		2018  Rm			2019  Rm		2018  Rm
Revenue	49 720		48 565			13 374		13 376			12 105		10 461			24 540		23 200
– South Africa	13 075		13 266			13 374		13 376
– Rest of Africa	12 105		11 033								12 105		10 461
– International	24 540		24 266													24 540		23 200
Operating profit	2 501		2 868			950		987			787		726			775		1 084
– South Africa	939		963			950		987
– Rest of Africa	787		777								787		726
– International	775		1 128													775		1 084
Depreciation, amortisation, impairments and recoupments	(1 461)		(1 408)			(472)		(441)			(289)		(288)			(702)		(643)
– South Africa	(470)		(457)			(472)		(441)
– Rest of Africa	(289)		(297)								(289)		(288)
– International	(702)		(654)													(702)		(643)
Net finance cost	(415)		(569)			(177)		(196)			(156)		(223)			(169)		(221)
– South Africa	(90)		(125)			(177)		(196)
– Rest of Africa	(156)		(232)								(156)		(223)
– International	(169)		(212)													(169)		(221)
Pre-tax profits*	1 709		1 974			727		820			447		292			446		702
– South Africa	816		895			727		820
– Rest of Africa	447		332								447		292
– International	446		747													446		702
Additional segment information
Analysis of revenue by type
– Sale of goods	10 830		9 210			490		535			10 211		8 664			124
– Rendering of services	38 890		39 355			12 866		12 754			1 790		1 733			24 405		23 186
External revenue	49 720		48 565			13 356		13 289			12 001		10 397			24 529		23 186
Inter-group revenue						18		87			104		64			11		14
Revenue	49 720		48 565			13 374		13 376			12 105		10 461			24 540		23 200
Analysis of depreciation, amortisation, impairments and recoupments	(1 461)		(1 408)			(472)		(441)			(289)		(288)			(702)		(643)
Depreciation and amortisation	(1 083)		(1 054)			(459)		(468)			(88)		(80)			(526)		(491)
Recoupments and impairments	22		61			40		73			(23)		(22)			(7)		25
Amortisation of intangible assets arising from business combinations	(400)		(415)			(53)		(46)			(178)		(186)			(169)		(177)
Goodwill impaired	1 139		26			148		26			427					564
Share of results of associates (included in pre-tax profits)	46		56			6		7			21		14			19		29
Items excluded from pre-tax profits	(1 148)		(175)			(156)		(20)			(478)		(65)			(500)		(45)
Impairment of goodwill	(1 139)		(26)			(148)		(26)			(427)					(564)
Profit (loss) on disposal of subsidiaries, businesses and associates	64		(149)					6					(65)			64		(45)
Impairment of associates and loans advanced to associates	(73)					(8)					(51)
Operating margin (%)	5,0		5,9			7,1		7,4			6,5		6,9			3,2		4,7

*Refer to glossary of terms.

	Businesses held for sale					Head office and eliminations
Profit or loss for the year ended 30 June	2019  Rm		2018  Rm			2019  Rm		2018  Rm
Revenue			1 717			(299)		(189)
– South Africa			79			(299)		(189)
– Rest of Africa			572
– International			1 066
Operating profit			111			(11)		(40)
– South Africa			2			(11)		(26)
– Rest of Africa			51
– International			58					(14)
Depreciation, amortisation, impairments and recoupments			(21)			2		(15)
– South Africa			(1)			2		(15)
– Rest of Africa			(9)
– International			(11)
Net finance cost			(22)			87		93
– South Africa						87		71
– Rest of Africa			(9)
– International			(13)					22
Pre-tax profits*			80			89		80
– South Africa			2			89		73
– Rest of Africa			40
– International			38					7
Additional segment information
Analysis of revenue by type
– Sale of goods						5		11
– Rendering of services			1 665			(171)		17
External revenue			1 665			(166)		28
Inter-group revenue			52			(133)		(217)
Revenue			1 717			(299)		189
Analysis of depreciation, amortisation, impairments and recoupments			(21)			2		(15)
Depreciation and amortisation			(15)			(10)
Recoupments and impairments						12		(15)
Amortisation of intangible assets arising from business combinations			(6)
Goodwill impaired
Share of results of associates (included in pre-tax profits)								6
Items excluded from pre-tax profits						(14)		(45)
Impairment of goodwill
Profit (loss) on disposal of subsidiaries, businesses and associates								(45)
Impairment of associates and loans advanced to associates						(14)
Operating margin (%)

*Refer to glossary of terms.

	Imperial Logistics					Logistics South Africa					Logistics African Regions					Logistics International
Financial position at 30 June	2019  Rm		2018  Rm			2019  Rm		2018  Rm			2019  Rm		2018  Rm			2019  Rm		2018  Rm
Assets
Goodwill and intangible assets	6 719		8 575			213		860			2 077		2 601			4 413		5 105
Property, plant and equipment	2 647		3 042			934		1 333			348		387			1 266		1 433
Transport fleet	5 452		5 358			2 523		2 475			93		156			2 836		2 760
Investments in associates (excluding loans advanced to associates)	467		510			37		70			302		296			128		176
Investments	47		30			27		29								5		5
Inventories	2 349		2 194			427		417			1 720		1 623			198		154
Trade, other receivables and contract assets	10 126		9 774			2 373		4 026			1 983		2 047			4 080		3 744
Operating assets~	27 807		29 483			6 534		9 210			6 523		7 110			12 926		13 377
– South Africa	8 358		8 996			6 534		9 210
– Rest of Africa	6 523		7 110								6 523		7 110
– International	12 926		13 377													12 926		13 377
Liabilities
Retirement benefit obligations	1 343		1 216													1 343		1 216
Trade and other payables and provisions	11 728		10 087			2 498		3 650			2 521		2 464			3 726		3 680
Other financial liabilities (excluding the put option liability)	124		194			58		24			6		157			30		2
Operating liabilities~	13 195		11 497			2 556		3 674			2 527		2 621			5 099		4 898
– South Africa	5 569		3 978			2 556		3 674
– Rest of Africa	2 527		2 621								2 527		2 621
– International	5 099		4 898													5 099		4 898
Net working capital*~	747		1 881			302		793			1 182		1 206			552		218
– South Africa	(987)		457			302		793
– Rest of Africa	1 182		1 206								1 182		1 206
– International	552		218													552		218
Net debt~	5 766		5 721			1 491		2 241			836		635			3 633		3 117
– South Africa	1 297		1 969			1 491		2 241
– Rest of Africa	836		635								836		635
– International	3 633		3 117													3 633		3 117
Net capital expenditure^~	(1 094)		(517)			(569)		(388)			(16)		216			(413)		(373)
– South Africa	(665)		(360)			(569)		(388)
– Rest of Africa	(16)		216								(16)		216
– International	(413)		(373)													(413)		(373)

*	Net working capital on the consolidated statement of financial position include working capital of the CPG discontinued operation that will be recovered or settled through the ordinary course of business and not through sale. This working capital has been excluded from the working capital of Logistics South Africa.
^	2018 has been adjusted to exclude Motus.
~	Refer to glossary of terms.

	CPG net working capital*					Head office and eliminations
Financial position at 30 June	2019  Rm		2018  Rm			2019  Rm		2018  Rm
Assets
Goodwill and intangible assets						16		9
Property, plant and equipment						99		(111)
Transport fleet								(33)
Investments in associates (excluding loans advanced to associates)								(32)
Investments						15		(4)
Inventories	4
Trade, other receivables and contract assets	1 690							(43)
Operating assets~	1 694					130		(214)
– South Africa	1 694					130		(214)
– Rest of Africa
– International
Liabilities
Retirement benefit obligations
Trade and other payables and provisions	2 780					203		293
Other financial liabilities (excluding the put option liability)						30		11
Operating liabilities~	2 780					233		304
– South Africa	2 780					233		304
– Rest of Africa
– International
Net working capital*~	(1 086)					(203)		(336)
– South Africa	(1 086)					(203)		(336)
– Rest of Africa
– International
Net debt~						(194)		(272)
– South Africa						(194)		(272)
– Rest of Africa
– International
Net capital expenditure^~	(89)		(9)			(7)		37
– South Africa	(89)		(9)			(7)		37
– Rest of Africa
– International

*	Net working capital on the consolidated statement of financial position include working capital of the CPG discontinued operation that will be recovered or settled through the ordinary course of business and not through sale. This working capital has been excluded from the working capital of Logistics South Africa.
^	2018 has been adjusted to exclude Motus.
~	Refer to glossary of terms.

Secondary segmental information – Continuing operations

	Freight management					Contract logistics					Distributorships
Profit or loss	2019  Rm		2018  Rm			2019  Rm		2018  Rm			2019  Rm		2018  Rm
Revenue	24 877		22 997			14 603		15 041			10 539		8 999
– South Africa	7 917		7 494			4 938		5 320			519		562
– Rest of Africa	1 195		1 261			890		763			10 020		8 437
– International	15 765		14 242			8 775		8 958
Operating profit	1 342		1 488			484		671			686		638
– South Africa	637		618			363		373			(50)		(4)
– Rest of Africa	45		70			6		14			736		642
– International	660		800			115		284
Operating margin	5,4		6,5			3,3		4,5			6,5		7,1
– South Africa	8,0		8,2			7,4		7,0			(9,6)		(0,7)
– Rest of Africa	3,8		5,6			0,7		1,8			7,3		7,6
– International	4,2		5,6			1,3		3,2
Pre-tax profits~	956		1 090			298		457			366		267
– South Africa	530		552			264		280			(67)		(12)
– Rest of Africa	37		48			(23)		(35)			433		279
– International	389		490			57		212
Working capital	733		699			(24)		307			1 327		1 199
Invested capital (closing)	8 689		10 087			2 873		3 010			3 048		3 255
Net capex	639		476			391		14			57		67

~ Refer to glossary of terms.

	Head office and eliminations					Businesses held for sale					Total Logistics
Profit or loss	2019  Rm		2018  Rm			2019  Rm		2018  Rm			2019  Rm		2018  Rm
Revenue	(299)		(189)					1 717			49 720		48 565
– South Africa	(299)		(189)					79			13 075		13 266
– Rest of Africa								572			12 105		11 033
– International								1 066			24 540		24 266
Operating profit	(11)		(40)					111			2 501		2 868
– South Africa	(11)		(26)					2			939		963
– Rest of Africa								51			787		777
– International			(14)					58			775		1 128
Operating margin	3,7		21,2					6,5			5,0		5,9
– South Africa	3,7		13,8					2,5			7,2		7,3
– Rest of Africa								8,9			6,5		6,9
– International								5,4			3,2		4,7
Pre-tax profits~	89		80					80			1 709		1 974
– South Africa	89		73					2			816		895
– Rest of Africa								40			447		332
– International			7					38			446		747
Working capital	(203)		(336)					12			1 833		1 881
Invested capital (closing)	(197)		(93)					23			14 413		16 282
Net capex	7		(37)					(3)			1 094		517

~ Refer to glossary of terms.