PROFIT OR LOSS for the year ended 30 June | ||||||||||||||
Imperial Logistics | Logistics Africa | Market Access | ||||||||||||
R million | 2021 | 2020^ | 2021 | 2020^ | 2021 | 2020^ | ||||||||
Revenue | 52 208 | 46 380 | 15 804 | 15 567 | 15 127 | 11 661 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
– Freight | 24 132 | 21 892 | 11 306 | 11 213 | ||||||||||
– Contract Logistics | 13 186 | 12 378 | 4 498 | 4 354 | ||||||||||
– Market Access | 15 274 | 12 122 | 15 127 | 11 661 | ||||||||||
– Head Office and Eliminations | (384) | (12) | ||||||||||||
Profit from operations before depreciation, impairments and recoupments | 4 986 | 4 098 | 1 997 | 1 710 | 956 | 852 | ||||||||
– Freight | 2 555 | 2 040 | 1 557 | 1 314 | ||||||||||
– Contract Logistics | 1 475 | 1 270 | 440 | 396 | ||||||||||
– Market Access | 935 | 756 | 956 | 852 | ||||||||||
– Head Office and Eliminations | 21 | 32 | ||||||||||||
Operating profit* | 2 336 | 1 459 | 987 | 756 | 806 | 711 | ||||||||
– Freight | 1 183 | 678 | 809 | 671 | ||||||||||
– Contract Logistics | 354 | 144 | 178 | 85 | ||||||||||
– Market Access | 784 | 611 | 806 | 711 | ||||||||||
– Head Office and Eliminations | 15 | 26 | ||||||||||||
Depreciation, amortisation, impairments and recoupments | (3 172) | (3 226) | (1 151) | (1 043) | (304) | (299) | ||||||||
– Freight | (1 618) | (1 686) | (812) | (651) | ||||||||||
– Contract Logistics | (1 226) | (1 232) | (339) | (392) | ||||||||||
– Market Access | (305) | (303) | (304) | (299) | ||||||||||
– Head Office and Eliminations | (23) | (5) | ||||||||||||
Net finance cost | (742) | (762) | (339) | (316) | (159) | (174) | ||||||||
– Freight | (364) | (344) | (229) | (185) | ||||||||||
– Contract Logistics | (217) | (232) | (110) | (131) | ||||||||||
– Market Access | (164) | (195) | (159) | (174) | ||||||||||
– Head Office and Eliminations | 3 | 9 | ||||||||||||
Pre-tax profits* | 1 313 | 504 | 474 | 358 | 414 | 615 | ||||||||
– Freight | 544 | 22 | 495 | 498 | ||||||||||
– Contract Logistics | 20 | (207) | (21) | (140) | ||||||||||
– Market Access | 387 | 494 | 414 | 615 | ||||||||||
– Head Office and Eliminations | 362 | 195 | ||||||||||||
ADDITIONAL SEGMENT INFORMATION | ||||||||||||||
Analysis of revenue by type | ||||||||||||||
– Sale of goods | 15 763 | 12 647 | 797 | 431 | 15 030 | 11 628 | ||||||||
– Rendering of services | 36 445 | 33 733 | 14 781 | 15 022 | 97 | 33 | ||||||||
External revenue | 52 208 | 46 380 | 15 578 | 15 453 | 15 127 | 11 661 | ||||||||
Inter-group revenue | 226 | 114 | ||||||||||||
52 208 | 46 380 | 15 804 | 15 567 | 15 127 | 11 661 | |||||||||
Analysis of depreciation, amortisation, impairments and recoupments | (3 172) | (3 226) | (1 151) | (1 043) | (304) | (299) | ||||||||
Depreciation and amortisation | (2 675) | (2 552) | (1 032) | (1 043) | (152) | (142) | ||||||||
Recoupments and impairments | (93) | (281) | (54) | 55 | (2) | 1 | ||||||||
Amortisation and impairment of intangible assets arising from business combinations | (404) | (393) | (65) | (55) | (150) | (158) | ||||||||
Share of results of associates and joint ventures | 3 | 22 | 3 | 2 | (3) | 4 | ||||||||
Operating margin (%) | 4,5 | 3,1 | 6,2 | 4,9 | 5,3 | 6,1 | ||||||||
Impairment of goodwill | (40) | (223) | (11) | (46) | (29) | (172) | ||||||||
Items excluded from pre-tax profits | (505) | (227) | ||||||||||||
Impairment of goodwill | (40) | (223) | ||||||||||||
Loss on disposal of subsidiaries and businesses | (520) | (23) | ||||||||||||
Profit on disposal of associates | 40 | |||||||||||||
Impairment of associates and loans advanced to associates | (11) | (2) | ||||||||||||
Impairment of equity investments | 1 | (26) | ||||||||||||
Net gain on termination of leases | 65 | 7 |
PROFIT OR LOSS for the year ended 30 June | ||||||||||||||
Logistics International | Businesses held for sale~ | Head Office and Eliminations |
||||||||||||
R million | 2021 | 2020^ | 2021 | 2020^ | 2021 | 2020^ | ||||||||
Revenue | 21 158 | 18 114 | 503 | 1 050 | (384) | (12) | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
– Freight | 12 826 | 10 679 | ||||||||||||
– Contract Logistics | 8 332 | 7 435 | 356 | 589 | ||||||||||
– Market Access | 147 | 461 | ||||||||||||
– Head Office and Eliminations | (384) | (12) | ||||||||||||
Profit from operations before depreciation, impairments and recoupments | 1 990 | 1 456 | 22 | 48 | 21 | 32 | ||||||||
– Freight | 998 | 726 | ||||||||||||
– Contract Logistics | 992 | 730 | 43 | 144 | ||||||||||
– Market Access | (21) | (96) | ||||||||||||
– Head Office and Eliminations | 21 | 32 | ||||||||||||
Operating profit* | 542 | (13) | (14) | (21) | 15 | 26 | ||||||||
– Freight | 374 | 7 | ||||||||||||
– Contract Logistics | 168 | (20) | 8 | 79 | ||||||||||
– Market Access | (22) | (100) | ||||||||||||
– Head Office and Eliminations | 15 | 26 | ||||||||||||
Depreciation, amortisation, impairments and recoupments | (1 657) | (1 811) | (37) | (68) | (23) | (5) | ||||||||
– Freight | (806) | (1 035) | ||||||||||||
– Contract Logistics | (851) | (776) | (36) | (64) | ||||||||||
– Market Access | (1) | (4) | ||||||||||||
– Head Office and Eliminations | (23) | (5) | ||||||||||||
Net finance cost | (188) | (175) | (59) | (106) | 3 | 9 | ||||||||
– Freight | (135) | (159) | ||||||||||||
– Contract Logistics | (53) | (16) | (54) | (85) | ||||||||||
– Market Access | (5) | (21) | ||||||||||||
– Head Office and Eliminations | 3 | 9 | ||||||||||||
Pre-tax profits* | 143 | (543) | (80) | (121) | 362 | 195 | ||||||||
– Freight | 49 | (476) | ||||||||||||
– Contract Logistics | 94 | (67) | (53) | |||||||||||
– Market Access | (27) | (121) | ||||||||||||
– Head Office and Eliminations | 362 | 195 | ||||||||||||
ADDITIONAL SEGMENT INFORMATION | ||||||||||||||
Analysis of revenue by type | ||||||||||||||
– Sale of goods | 85 | 138 | 148 | 449 | (297) | 1 | ||||||||
– Rendering of services | 21 009 | 17 972 | 355 | 601 | 203 | 105 | ||||||||
External revenue | 21 094 | 18 110 | 503 | 1 050 | (94) | 106 | ||||||||
Inter-group revenue | 64 | 4 | (290) | (118) | ||||||||||
21 158 | 18 114 | 503 | 1 050 | (384) | (12) | |||||||||
Analysis of depreciation, amortisation, impairments and recoupments | (1 657) | (1 811) | (37) | (68) | (23) | (5) | ||||||||
Depreciation and amortisation | (1 447) | (1 292) | (37) | (69) | (7) | (6) | ||||||||
Recoupments and impairments | (21) | (338) | 1 | (16) | ||||||||||
Amortisation and impairment of intangible assets arising from business combinations | (189) | (181) | 1 | |||||||||||
Share of results of associates and joint ventures | 3 | 16 | ||||||||||||
Operating margin (%) | 2,6 | (0,1 ) | ||||||||||||
Impairment of goodwill | (5) | |||||||||||||
Items excluded from pre-tax profits | ||||||||||||||
Impairment of goodwill | ||||||||||||||
Loss on disposal of subsidiaries and businesses | ||||||||||||||
Profit on disposal of associates | ||||||||||||||
Impairment of associates and loans advanced to associates | ||||||||||||||
Impairment of equity investments | ||||||||||||||
Net gain on termination of leases |
* | Refer to glossary of terms. |
^ | Restated to align to the new segmentation and transfers of businesses cross segments. |
~ | Business held for sale incorporate Pharmed and South American Shipping businesses. |
FINANCIAL POSITION at 30 June | |||||||||||||||||||
Imperial Logistics | Logistics Africa | Market Access | Logistics International | ||||||||||||||||
R million | 2021 | 2020^ | 2021 | 2020^ | 2021 | 2020^ | 2021 | 2020^ | |||||||||||
Assets | |||||||||||||||||||
Goodwill and intangible assets | 6 121 | 7 084 | 243 | 297 | 2 301 | 2 947 | 3 288 | 3 824 | |||||||||||
Property, plant and equipment | 2 937 | 3 326 | 1 460 | 1 509 | 310 | 342 | 1 100 | 1 374 | |||||||||||
Transport fleet | 3 132 | 5 186 | 2 872 | 3 146 | 260 | 2 040 | |||||||||||||
Right-of-use assets | 4 297 | 5 422 | 1 143 | 1 732 | 278 | 314 | 2 875 | 3 376 | |||||||||||
Investments in associates (excluding loans advanced to associates) | 182 | 160 | 55 | 14 | 108 | 44 | 19 | 102 | |||||||||||
Investments | 155 | 92 | 25 | 22 | 9 | 11 | |||||||||||||
Inventories | 2 473 | 2 676 | 270 | 285 | 2 092 | 2 208 | 111 | 183 | |||||||||||
Trade, other receivables and contract assets | 8 079 | 7 934 | 2 650 | 2 473 | 2 303 | 1 943 | 3 181 | 3 534 | |||||||||||
Operating assets~ | 27 376 | 31 880 | 8 718 | 9 478 | 7 392 | 7 798 | 10 843 | 14 444 | |||||||||||
– South Africa | 9 141 | 9 638 | 8 718 | 9 478 | |||||||||||||||
– Rest of Africa | 7 392 | 7 798 | 7 392 | 7 798 | |||||||||||||||
– International | 10 843 | 14 444 | 10 843 | 14 444 | |||||||||||||||
Liabilities | |||||||||||||||||||
Retirement benefit obligations | 899 | 1 109 | 899 | 1 109 | |||||||||||||||
Trade and other payables and provisions | 9 765 | 10 066 | 3 187 | 3 295 | 2 669 | 2 462 | 3 775 | 4 112 | |||||||||||
Other financial liabilities | 397 | 769 | 13 | 13 | 365 | 649 | 49 | ||||||||||||
Operating liabilities~ | 11 061 | 11 944 | 3 200 | 3 308 | 3 034 | 3 111 | 4 674 | 5 270 | |||||||||||
– South Africa | 3 353 | 3 563 | 3 200 | 3 308 | |||||||||||||||
– Rest of Africa | 3 034 | 3 111 | 3 034 | 3 111 | |||||||||||||||
– International | 4 674 | 5 270 | 4 674 | 5 270 | |||||||||||||||
Net working capital*~ | 787 | 544 | (267) | (537) | 1 726 | 1 689 | (483) | (395) | |||||||||||
– South Africa | (456) | (750) | (267) | (537) | |||||||||||||||
– Rest of Africa | 1 726 | 1 689 | 1 726 | 1 689 | |||||||||||||||
– International | (483) | (395) | (483) | (395) | |||||||||||||||
Net debt | 4 038 | 8 391 | 2 159 | 2 684 | 1 196 | 1 302 | 424 | 4 460 | |||||||||||
– South Africa | 2 418 | 2 629 | 2 159 | 2 684 | |||||||||||||||
– Rest of Africa | 1 196 | 1 302 | 1 196 | 1 302 | |||||||||||||||
– International | 424 | 4 460 | 424 | 4 460 | |||||||||||||||
Lease obligations | 4 866 | 6 080 | 1 365 | 1 981 | 304 | 348 | 3 195 | 3 751 | |||||||||||
– South Africa | 1 367 | 1 981 | 1 365 | 1 981 | |||||||||||||||
– Rest of Africa | 304 | 348 | 304 | 348 | |||||||||||||||
– International | 3 195 | 3 751 | 3 195 | 3 751 | |||||||||||||||
Net capital expenditure~ | (733) | (1 482) | (151) | (784) | (89) | (81) | (212) | (280) | |||||||||||
– South Africa | (400) | (764) | (151) | (784) | |||||||||||||||
– Rest of Africa | (89) | (81) | (89) | (81) | |||||||||||||||
– International | (244) | (637) | (212) | (280) | |||||||||||||||
Items excluded from total assets to arrive at operating assets | 2 953 | 10 646 | |||||||||||||||||
Loans to associates | 19 | 38 | |||||||||||||||||
Other non-current financial assets | 182 | 179 | |||||||||||||||||
Deferred tax assets | 1 384 | 1 510 | |||||||||||||||||
Tax in advance | 133 | 221 | |||||||||||||||||
Cash resources | 1 235 | 3 374 | |||||||||||||||||
Assets of disposal groups | 598 | ||||||||||||||||||
Assets of discontinued operations | 4 726 | ||||||||||||||||||
Items excluded from total liabilities to arrive at operating liabilities | 11 509 | 22 310 | |||||||||||||||||
Interest bearing borrowings | 5 273 | 11 765 | |||||||||||||||||
Lease obligations | 4 866 | 6 080 | |||||||||||||||||
Deferred tax liabilities | 609 | 901 | |||||||||||||||||
Put liability | 515 | 646 | |||||||||||||||||
Current tax liabilities | 246 | 375 | |||||||||||||||||
Liabilities associated with disposal groups | 356 | ||||||||||||||||||
Liabilities associated with discontinued operations | 2 187 |
FINANCIAL POSITION at 30 June | ||||||||||||||
CPG | European shipping division |
Head Office and Eliminations |
||||||||||||
R million | 2021 | 2020^ | 2021 | 2020^ | 2021 | 2020^ | ||||||||
Assets | ||||||||||||||
Goodwill and intangible assets | 289 | 16 | ||||||||||||
Property, plant and equipment | 67 | 101 | ||||||||||||
Transport fleet | ||||||||||||||
Right-of-use assets | 1 | |||||||||||||
Investments in associates (excluding loans advanced to associates) | ||||||||||||||
Investments | 121 | 59 | ||||||||||||
Inventories | ||||||||||||||
Trade, other receivables and contract assets | (55) | (16) | ||||||||||||
Operating assets~ | 423 | 160 | ||||||||||||
– South Africa | 423 | 160 | ||||||||||||
– Rest of Africa | ||||||||||||||
– International | ||||||||||||||
Liabilities | ||||||||||||||
Retirement benefit obligations | ||||||||||||||
Trade and other payables and provisions | 134 | 197 | ||||||||||||
Other financial liabilities | 19 | 58 | ||||||||||||
Operating liabilities~ | 153 | 255 | ||||||||||||
– South Africa | 153 | 255 | ||||||||||||
– Rest of Africa | ||||||||||||||
– International | ||||||||||||||
Net working capital*~ | (189) | (213) | ||||||||||||
– South Africa | (189) | (213) | ||||||||||||
– Rest of Africa | ||||||||||||||
– International | ||||||||||||||
Net debt | 259 | (55) | ||||||||||||
– South Africa | 259 | (55) | ||||||||||||
– Rest of Africa | ||||||||||||||
– International | ||||||||||||||
Lease obligations | 2 | |||||||||||||
– South Africa | 2 | |||||||||||||
– Rest of Africa | ||||||||||||||
– International | ||||||||||||||
Net capital expenditure~ | 24 | (32) | (357) | (249) | (4) | |||||||||
– South Africa | 24 | (249) | (4) | |||||||||||
– Rest of Africa | ||||||||||||||
– International | (32) | (357) | ||||||||||||
Items excluded from total assets to arrive at operating assets | ||||||||||||||
Loans to associates | ||||||||||||||
Other non-current financial assets | ||||||||||||||
Deferred tax assets | ||||||||||||||
Tax in advance | ||||||||||||||
Cash resources | ||||||||||||||
Assets of disposal groups | ||||||||||||||
Assets of discontinued operations | ||||||||||||||
Items excluded from total liabilities to arrive at operating liabilities | ||||||||||||||
Interest bearing borrowings | ||||||||||||||
Lease obligations | ||||||||||||||
Deferred tax liabilities | ||||||||||||||
Put liability | ||||||||||||||
Current tax liabilities | ||||||||||||||
Liabilities associated with disposal groups | ||||||||||||||
Liabilities associated with discontinued operations |
* | Net working capital relating to the CPG discontinued operation that was recovered or settled through the ordinary course of business and not through sale was shown separately in the prior year reported segment but combined in the Logistics Africa segment in the current year. |
^ | Restated to align to the new segmentation and transfers of businesses cross segments. |
~ | Refer to glossary of terms |