Unaudited interim results

Primary segmental information (IFRS 8 – Operating Segments) – continuing operations

for the six months ended 31 December 2019

PROFIT OR LOSS

	Imperial Logistics		South Africa		African Regions		International		Head office and eliminations
	2019	2018*	2019	2018*	2019	2018*	2019	2018*	2019	2018*
Revenue	25 397	25 221	7 640	6 737	6 359	6 339	11 435	12 412	(37)	(267)
– South Africa	7 603	6 470	7 640	6 737					(37)	(267)
– Rest of Africa	6 359	6 339			6 359	6 339
– International	11 435	12 412					11 435	12 412
Operating profit	1 636	1 500	579	534	511	479	545	486	1	1
– South Africa	580	535	579	534					1	1
– Rest of Africa	511	479			511	479
– International	545	486					545	486
Depreciation, amortisation, impairments and recoupments	(1 478)	(1 460)	(398)	(396)	(173)	(179)	(905)	(887)	(2)	2
– South Africa	(400)	(394)	(398)	(396)					(2)	2
– Rest of Africa	(173)	(179)			(173)	(179)
– International	(905)	(887)					(905)	(887)
Net finance cost	(338)	(298)	(105)	(138)	(94)	(94)	(137)	(148)	(2)	82
– South Africa	(107)	(56)	(105)	(138)					(2)	82
– Rest of Africa	(94)	(94)			(94)	(94)
– International	(137)	(148)					(137)	(148)
Pre-tax profits**	1 151	1 012	475	380	347	285	328	257	1	90
– South Africa	476	470	475	380					1	90
– Rest of Africa	347	285			347	285
– International	328	257					328	257
ADDITIONAL SEGMENT INFORMATION
Analysis of revenue by type
– Sale of goods	5 982	5 492	198	261	5 673	5 227	110		1	4
– Rendering of services	19 415	19 729	7 437	6 450	643	1 049	11 323	12 410	12	(180)
External revenue	25 397	25 221	7 635	6 711	6 316	6 276	11 433	12 410	13	(176)
Inter-group revenue			5	26	43	63	2	2	(50)	(91)
Revenue	25 397	25 221	7 640	6 737	6 359	6 339	11 435	12 412	(37)	(267)
Analysis of depreciation, amortisation, impairments and recoupments	(1 478)	(1 460)	(398)	(396)	(173)	(179)	(905)	(887)	(2)	2
Depreciation and amortisation	(1 342)	(1 283)	(423)	(394)	(92)	(89)	(824)	(795)	(3)	(5)
Recoupments and impairments	38	19	38	20	(3)	(1)	4	(7)	(1)	7
Amortisation of intangible assets arising from business combinations	(174)	(196)	(13)	(22)	(78)	(89)	(85)	(85)	2
Share of results of associates (included in pre-tax profits)	8	32	1	3	9	15	(1)	14	(1)
Operating margin (%)	6,4	5,9	7,6	7,9	8,0	7,6	4,8	3,9

*	Restated for the adoption of IFRS 16 – Leases and for the representation of CPG as a discontinued operation.
**	Refer to glossary of terms.

 

FINANCIAL POSITION

	Imperial Logistics			South Africa			African Regions			International			CPG			Head office and eliminations
	December		June	December		June	December		June	December		June	December		June	December		June
	2019	2018*	2019*	2019	2018*	2019*	2019	2018*	2019*	2019	2018*	2019*	2019	2018*	2019*	2019	2018*	2019*
Assets
Goodwill and intangible assets	6 743	8 554	6 719	196	548	213	2 178	2 647	2 077	4 363	5 064	4 413		276		6	19	16
Property, plant and equipment	2 630	3 192	2 647	965	1 165	934	376	363	348	1 192	1 406	1 266		171		97	87	99
Transport fleet	5 787	5 777	5 452	2 962	2 543	2 523	75	153	93	2 750	2 929	2 836		152
Right-of-use assets	4 714	5 895	4 780	1 318	1 111	1 044	397	407	361	2 935	3 554	3 317	63	823	58	1
Investments in associates (excluding loans advanced to associates)	452	491	467	10	39	37	317	319	302	125	133	128
Investments	33	59	47	28	29	27				5	5	5					25	15
Inventories	2 408	2 464	2 349	334	363	427	1 899	1 896	1 720	176	203	198		2	4	(1)
Trade, other receivables and contract assets	9 188	10 841	10 068	2 911	2 427	2 364	2 359	2 272	1 977	3 451	4 082	4 037	379	2 059	1 690	88	1
Operating assets^	31 955	37 273	32 529	8 724	8 225	7 569	7 601	8 057	6 878	14 997	17 376	16 200	442	3 483	1 752	191	132	130
– South Africa	9 357	11 840	9 451	8 724	8 225	7 569							442	3 483	1 752	191	132	130
– Rest of Africa	7 601	8 057	6 878				7 601	8 057	6 878
– International	14 997	17 376	16 200							14 997	17 376	16 200
Liabilities
Retirement benefit obligations	1 314	1 251	1 343							1 314	1 251	1 343
Trade and other payables and provisions	9 508	10 813	11 063	2 532	2 293	2 494	2 674	2 607	2 521	2 940	3 829	3 729	1 152	1 813	2 116	210	271	203
Other financial liabilities	188	83	124	27	58	58	116	14	6	26	8	30				19	3	30
Operating liabilities^	11 010	12 147	12 530	2 559	2 351	2 552	2 790	2 621	2 527	4 280	5 088	5 102	1 152	1 813	2 116	229	274	233
– South Africa	3 940	4 438	4 901	2 559	2 351	2 552							1 152	1 813	2 116	229	274	233
– Rest of Africa	2 790	2 621	2 527				2 790	2 621	2 527
– International	4 280	5 088	5 102							4 280	5 088	5 102
Net working capital~^	2 088	2 492	1 354	713	497	297	1 584	1 561	1 176	687	456	506	(773)	248	(422)	(123)	(270)	(203)
– South Africa	(183)	475	(328)	713	497	297							(773)	248	(422)	(123)	(270)	(203)
– Rest of Africa	1 584	1 561	1 176				1 584	1 561	1 176
– International	687	456	506							687	456	506
Net debt – excluding lease obligations	7 401	6 209	5 745	2 571	2 048	1 469	1 288	1 161	836	3 679	3 296	3 634				(137)	(296)	(194)
– South Africa	2 434	1 752	1 275	2 571	2 048	1 469										(137)	(296)	(194)
– Rest of Africa	1 288	1 161	836				1 288	1 161	836
– International	3 679	3 296	3 634							3 679	3 296	3 634
Lease obligations	5 159	6 425	5 969	1 519	1 305	1 260	436	447	403	3 043	3 720	3 450	161	953	856
– South Africa	1 680	2 258	2 116	1 519	1 305	1 260							161	953	856
– Rest of Africa	436	447	403				436	447	403
– International	3 043	3 720	3 450							3 043	3 720	3 450
Net capital expenditure^	(815)	(700)	(1 094)	(463)	(404)	(569)	(55)	(26)	(16)	(278)	(240)	(413)	(8)	(31)	(89)	(11)	1	(7)
– South Africa	(482)	(434)	(665)	(463)	(404)	(569)							(8)	(31)	(89)	(11)	1	(7)
– Rest of Africa	(55)	(26)	(16)				(55)	(26)	(16)
– International	(278)	(240)	(413)							(278)	(240)	(413)

*	Restated for IFRS 16 – Leases.
~	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 South Africa.
^	Refer to glossary of terms.