2016 | 2015 | 2014 | 2013 | 2012 | 2011 | ||
---|---|---|---|---|---|---|---|
IN US DOLLAR (US$’000) | |||||||
Revenue | 6 454 782 | 6 443 536 | 5 688 054 | 5 246 667 | 5 033 394 | 4 302 972 | |
Continuing operations | 6 401 171 | 6 421 646 | 5 464 474 | 5 063 855 | 4 940 164 | 4 293 955 | |
Acquisitions | 53 611 | 21 890 | 223 580 | 182 812 | 93 230 | 9 017 | |
Operating profit before interest, taxation depreciation and amortisation (“EBITDA”) | 162 110 | 206 393 | 175 265 | 185 538 | 190 191 | 142 181 | |
Operating profit before goodwill and intangible adjustment/impairment | 110 606 | 157 758 | 127 530 | 141 373 | 150 644 | 104 976 | |
WestconGroup* | 62 212 | 100 207 | 67 447 | 98 200 | 120 360 | 91 277 | |
Logicalis | 56 430 | 74 165 | 67 523 | 54 697 | 42 609 | 31 340 | |
Consulting* | 1 245 | 2 362 | 1 041 | 2 081 | 3 331 | (764) | |
Corporate and other holdings | (13 378) | (19 590) | (13 210) | (14 314) | (17 502) | (15 886) | |
Head office foreign exchange gain/(loss) | 4 097 | 614 | 4 729 | 709 | 1 846 | (991) | |
Profit before taxation | 88 434 | 140 162 | 101 796 | 127 247 | 137 971 | 78 178 | |
Profit after taxation | 48 478 | 88 628 | 64 300 | 85 084 | 89 069 | 45 940 | |
Attributable profit | 39 949 | 73 772 | 55 780 | 78 077 | 80 846 | 41 893 | |
Headline profit | 40 016 | 73 674 | 62 083 | 78 071 | 80 188 | 44 020 | |
Capital distribution and dividends to shareholders | (22 200) | (33 286) | (31 594) | (32 394) | (36 383) | (21 713) | |
Non-current assets | 766 142 | 701 809 | 673 650 | 661 324 | 574 970 | 515 590 | |
Current assets | 2 616 800 | 2 572 773 | 2 318 374 | 2 028 740 | 1 823 437 | 1 481 342 | |
Equity attributable to equity holders of the parent | 830 366 | 870 850 | 871 617 | 865 433 | 823 369 | 727 702 | |
Non-controlling interests | 39 054 | 41 599 | 52 868 | 51 578 | 56 059 | 42 677 | |
Non-current liabilities | 112 645 | 103 710 | 94 131 | 84 324 | 66 083 | 91 102 | |
Current liabilities | 2 400 877 | 2 258 423 | 1 973 408 | 1 688 729 | 1 452 896 | 1 135 451 | |
Net cash inflow/(outflow) from operating activities | 68 018 | 115 400 | (34 434) | 241 664 | 32 942 | (100 897) | |
Net cash outflow from investing activities | (119 289) | (51 477) | (59 127) | (119 405) | (55 476) | (46 000) | |
Net cash outflow from financing activities | (33 407) | (36 025) | (16 358) | (46 058) | (64 067) | (15 036) | |
Cash net of short-term borrowings | (132 685) | (22 101) | (41 770) | 73 316 | 1 813 | 83 219 | |
Cash net of short and long-term borrowings | (205 398) | (87 124) | (86 740) | 47 621 | (20 454) | 48 120 | |
IN US CENTS | |||||||
Headline earnings per share | 19 | 37 | 32 | 41 | 43 | 24 | |
Underlying‡ earnings per share | 32 | 42 | 36 | 43 | 48 | 38 | |
Basic earnings per share | 19 | 37 | 28 | 41 | 43 | 23 | |
Net asset value per share | 397 | 428 | 442 | 448 | 439 | 392 | |
Tangible net asset value per share | 115 | 159 | 170 | 175 | 197 | 178 | |
Distribution per share (US cents) | 17 | 17 | 17 | 17 | 16 | 13 |
2016 | 2015 | 2014 | 2013 | 2012 | 2011 | ||
---|---|---|---|---|---|---|---|
RATIOS | |||||||
Return on capital employed | 12.1% | 16.8% | 13.6% | 15.5% | 17.6% | 13.3% | |
Return on invested capital | 6.5% | 10.8% | 9.4% | 11.5% | 13.3% | 12.6% | |
Return on average shareholders’ equity | 7.8% | 9.5% | 8.1% | 9.8% | 11.5% | 10.0% | |
Net debt-to-equity ratio | 0.25:1 | 0.10:1 | 0.10:1 | (0.06):1 | 0.02:1 | (0.07):1 | |
Current ratio | 1.1:1 | 1.1:1 | 1.2:1 | 1.2:1 | 1.3:1 | 1.3:1 | |
EBITDA margin | 2.5% | 3.2% | 3.1% | 3.5% | 3.8% | 3.3% | |
Operating profit margin | 1.7% | 2.4% | 2.2% | 2.7% | 3.0% | 2.4% | |
Interest cover | 5.9 | 9.4 | 7.0 | 6.9 | 8.7 | 8.8 | |
Percentage change in SA Consumer Price Index | 7.0 | 3.9 | 5.9 | 5.9 | 6.1 | 3.7 | |
STOCK EXCHANGE PERFORMANCE | |||||||
Total number of shares traded (’000) | 149 707 | 79 850 | 54 038 | 79 044 | 60 176 | 104 059 | |
Total number of shares traded as a percentage of total shares | 72.3% | 40.0% | 27.5% | 41.4% | 32.4% | 56.6% | |
Total value of shares traded (R’million) | 8 901 | 4 335 | 2 888 | 3 832 | 2 337 | 3 494 | |
Prices (cents) | |||||||
Closing | 4 648 | 6 005 | 4 701 | 4 871 | 4 500 | 3 576 | |
High | 8 088 | 6 290 | 6 138 | 5 768 | 4 510 | 3 848 | |
Low | 3 820 | 4 601 | 4 270 | 4 199 | 3 252 | 2 720 | |
Market capitalisation (R’million) | 9 735 | 12 227 | 9 268 | 9 405 | 8 448 | 6 637 | |
P/E ratio (underlying earnings) | 11 | 13 | 13 | 13 | 13 | 13 | |
SHARES ISSUED | |||||||
Issued (million) | 209 | 204 | 197 | 193 | 188 | 186 | |
Weighted average (million) | 206 | 199 | 197 | 191 | 186 | 184 | |
EMPLOYEES | |||||||
Number of employees at the end of the year | 8 681 | 8 248 | 7 627 | 6 586 | 5 611 | 4 836 | |
Average number of employees | 8 465 | 7 938 | 7 107 | 6 099 | 5 224 | 4 481 | |
Operating profit per average employee (US$’000) | 13 | 20 | 18 | 23 | 29 | 23 | |
Gross assets per employee (US$’000) | 390 | 397 | 392 | 408 | 427 | 413 | |
EXCHANGE RATES | |||||||
Rand/US$ statement of comprehensive income translation rate | 13.7 | 11.0 | 10.1 | 8.4 | 7.3 | 7.2 | |
Rand/US$ statement of financial position translation rate | 16.2 | 11.7 | 10.7 | 8.8 | 7.5 | 7.0 |
Notes:
–Tangible net asset value per share is calculated using net asset value exclusive of intangible assets, goodwill and capitalised development costs and the number of shares in issue at the end of the financial period.
–Return on capital employed is calculated using operating profit before intangible and goodwill adjustment/impairment and the average of opening and closing capital employed. Capital employed is calculated using total shareholder funds plus all long-term liabilities including amounts due to vendors of a long-term nature but excluding deferred tax liabilities and liability for share-based payments.
–Return on invested capital is calculated using net operating profit after tax and average invested capital. Net operating profit after tax is calculated using operating profit before intangible and goodwill adjustment/impairment to which amortisation of acquired intangible assets is added back, and is tax effected at the normalised effective tax rate. Invested capital is calculated using total shareholder funds plus long-term liabilities and short-term interest-bearing liabilities less cash and cash equivalents.
–Return on average shareholders’ equity is calculated using underlying‡ earnings and the average of opening and closing equity attributable to the equity holders of the parent.
–Debt, for the purposes of the debt-to-equity ratio, includes all long-term liabilities including the short-term portion of long-term debt but excluding deferred tax liabilities, amounts due to vendor and liability for share-based payments. Net debt includes cash and cash equivalents.
–Ratios referring to operating profit use operating profit before goodwill and intangible adjustment/impairment.
–Interest cover is calculated using EBITDA over finance cost.
–The SA Consumer Price Index is sourced from Statistics South Africa.
–Detailed segmental information is set out in Note 32 of the consolidated annual financial statements.
‡Excluding impairments of goodwill and intangible assets, profit or loss on sale of investments and assets, amortisation of acquired intangible assets, unrealised foreign exchange movements, acquisition-related adjustments, fair value movements on acquisition-related financial instruments, restructuring costs and the taxation effect on all of the aforementioned.
*The results of Intact have been included in WestconGroup from FY15 and in the Consulting division in preceding periods.