Segmental information – continued operations
for the six months ended 31 December 2020

PROFIT OR LOSS FOR THE SIX MONTHS ENDED 31 DECEMBER

	Freight		Contract Logistics		Market Access		Head Office and Eliminations		Businesses held-for-sale		Total Logistics: Continuing		Discontinuing: CPG and Shipping
R million	Dec  2020	Dec  2019	Dec  2020	Dec  2019	Dec  2020	Dec  2019	Dec  2020	Dec  2019	Dec  2020	Dec  2019	Dec  2020	Dec  2019	Dec  2020	Dec  2019
Revenue	12 178	10 119	6 604	6 897	7 415	5 480	(192)	(25)	355	484	26 360	22 955	272	3 113
– Logistics Africa	5 752	5 310	2 325	2 951			(192)	(25)			7 885	8 236		671
– Market Access					7 415	5 480			147	213	7 562	5 693
– Logistics International	6 426	4 809	4 279	3 946					208	271	10 913	9 026	272	2 442
EBITDA	1 225	1 232	836	778	500	566	1	5	(11)	13	2 551	2 594	57	(20)
– Logistics Africa	710	712	272	346			1	5			983	1 063		(381)
– Market Access					500	566			(21)	(51)	479	515
– Logistics International	515	520	564	432					10	64	1 089	1 016	57	361
Operating profit	592	733	237	241	422	506	(2)	1	(48)	(18)	1 201	1 463	21	(232)
– Logistics Africa	358	464	115	163			(2)	1			471	628		(405)
– Market Access					422	506			(22)	(53)	400	453
– Logistics International	234	269	122	78					(26)	35	330	382	21	173
Depreciation, amortisation, impairments and recoupments	(719)	(587)	(618)	(541)	(158)	(128)	(3)	(2)	(37)	(32)	(1 535)	(1 290)	(36)	(212)
– Logistics Africa	(345)	(255)	(175)	(184)			(3)	(2)			(523)	(441)		(24)
– Market Access					(158)	(128)			(1)	(2)	(159)	(130)
– Logistics International	(374)	(332)	(443)	(357)					(36)	(30)	(853)	(719)	(36)	(188)
Net finance cost	(154)	(47)	(122)	(132)	(75)	(76)	(6)	(3)	(38)	(54)	(395)	(312)	(4)	(142)
– Logistics Africa	(109)	(19)	(62)	(85)			(6)	(3)			(177)	(107)		(116)
– Market Access					(75)	(76)			(5)	(12)	(80)	(88)
– Logistics International	(45)	(28)	(60)	(47)					(33)	(42)	(138)	(117)	(4)	(26)
Pre-tax profits^	335	613	85	105	237	356	354	(9)	(89)	(65)	922	1 000	18	(370)
– Logistics Africa	243	461	27	76			354	(9)			624	528		(521)
– Market Access					237	356			(27)	(65)	210	291
– Logistics International	92	152	58	29					(62)		88	181	18	151
Additional segment information
Analysis of depreciation, amortisation, impairments and recoupments	(719)	(587)	(618)	(541)	(158)	(128)	(3)	(2)	(37)	(32)	(1 535)	(1 290)	(36)	(212)
Depreciation and amortisation	(647)	(511)	(605)	(548)	(79)	(60)	(3)	(3)	(37)	(32)	(1 371)	(1 154)	(36)	(211)
Recoupments and impairments	25	29	6	10				(1)			31	38		(1)
Amortisation and impairment of intangible assets arising on business combinations	(97)	(105)	(19)	(3)	(79)	(68)		2			(195)	(174)
Associate income included in pre- tax profits	(1)	(4)	2		7	9		(1)			8	4	1	4
Operating margin (%)	4,9	7,2	3,6	3,5	5,7	9,2	1,0	(4,0)			4,6	6,4	7,7	(7,4)

^{^} Refer to glossary of terms.

Segmental information – continued operations

as at 31 December 2020

FINANCIAL POSITION AT 31 DECEMBER

	Imperial			Logistics Africa			Market Access			Logistics – International
	December		June	December		June	December		June	December		June
R million	2020	2019	2020	2020	2019	2020	2020	2019	2020	2020	2019	2020
Assets
Goodwill and intangible assets	6 322	6 743	7 084	269	196	296	2 481	2 179	2 948	3 473	4 363	3 824
Property, plant and equipment	3 004	2 630	3 326	1 435	1 004	1 509	289	334	342	1 186	1 194	1 374
Transport fleet	3 308	5 644	5 186	2 999	3 037	3 146				309	2 607	2 040
Right-of-use assets	4 576	4 714	5 422	1 397	1 476	1 732	296	233	314	2 883	2 941	3 376
Investments in associates (excluding loans advanced to associates)	230	452	160	15	285	14	122	37	44	93	125	102
Investments	106	33	92	25	25	22				36	31	11
Inventories	2 546	2 408	2 676	324	207	285	2 091	2 026	2 208	132	176	183
Trade, other receivables and contract assets	7 474	9 203	7 934	2 768	3 118	2 473	2 121	2 270	1 943	2 729	3 554	3 534
Operating assets^	27 566	31 827	31 880	9 232	9 348	9 477	7 400	7 079	7 799	10 841	14 991	14 444
– South Africa	9 325	9 757	9 637	9 232	9 348	9 477
– Rest of Africa	7 400	7 079	7 799				7 400	7 079	7 799
– International	10 841	15 119	14 444							10 841	15 119	14 444
Liabilities
Retirement benefit obligations	1 012	1 314	1 109							1 012	1 314	1 109
Trade, other payables and provisions	9 014	9 488	10  066	3 081	2 775	3 295	2 407	2 572	2 462	3 491	2 985	4 112
Other financial liabilities	612	188	769	26	27	13	516	116	649	29	26	49
Operating liabilities^	10 638	10 990	11 944	3 107	2 802	3 308	2 923	2 688	3 111	4 532	4 325	5 270
– South Africa	3 183	3 977	3 563	3 107	2 802	3 308
– Rest of Africa	2 923	2 688	3 111				2 923	2 688	3 111
– International	4 532	4 325	5 270							4 532	4 325	5 270
Net working capital*^	1 006	2 123	544	11	550	(537)	1 805	1 724	1 689	(630)	745	(395)
– South Africa	(169)	(346)	(750)	11	550	(537)
– Rest of Africa	1 805	1 724	1 689				1 805	1 724	1 689
– International	(630)	745	(395)							(630)	745	(395)
Net debt	5 509	7 353	8 391	2 498	2 702	2 705	1 497	1 154	1 302	1 485	3 656	4 460
– South Africa	2 527	2 543	2 629	2 498	2 702	2 705
– Rest of Africa	1 497	1 154	1 302				1 497	1 154	1 302
– International	1 485	3 656	4 460							1 485	3 656	4 460
Lease obligations	5 185	5 159	6 080	1 638	1 656	1 981	333	262	348	3 213	3 080	3 751
– South Africa	1 639	1 817	1 981	1 638	1 656	1 981
– Rest of Africa	333	262	348				333	262	348
– International	3 213	3 080	3 751							3 213	3 080	3 751
Net capital expenditure^	(301)	(815)	(1 482)	(51)	(453)	(786)	(26)	(65)	(79)	(108)	(94)	(280)
– South Africa	(135)	(472)	(766)	(51)	(453)	(786)
– Rest of Africa	(26)	(65)	(79)				(26)	(65)	(79)
– International	(140)	(278)	(637)							(108)	(94)	(280)

	CPG			Shipping			Eliminations
	December		June	December		June	December		June
R million	2020	2019	2020	2020	2019	2020	2020	2019	2020
Assets
Goodwill and intangible assets							99	5	16
Property, plant and equipment							94	98	101
Transport fleet
Right-of-use assets		63						1
Investments in associates (excluding loans advanced to associates)								5
Investments							45	(23)	59
Inventories							(1)	(1)
Trade, other receivables and contract assets		379					(144)	(118)	(16)
Operating assets^		442					93	(33)	160
– South Africa		442					93	(33)	160
– Rest of Africa
– International
Liabilities
Retirement benefit obligations
Trade, other payables and provisions		1 152					35	4	197
Other financial liabilities							41	19	58
Operating liabilities^		1 152					76	23	255
– South Africa		1 152					76	23	255
– Rest of Africa
– International
Net working capital*^		(773)					(180)	(123)	(213)
– South Africa		(773)					(180)	(123)	(213)
– Rest of Africa
– International
Net debt							29	(159)	(76)
– South Africa							29	(159)	(76)
– Rest of Africa
– International
Lease obligations		161					1
– South Africa		161					1
– Rest of Africa
– International
Net capital expenditure^		(8)	24	(32)	(184)	(357)	(84)	(11)	(4)
– South Africa		(8)	24				(84)	(11)	(4)
– Rest of Africa
– International				(32)	(184)	(357)

*	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.
^	Refer to glossary of terms.