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  Comparable key ratios  
     
     
 
  12 months ended 31 December    
    2007     2006 2005
RATIOS          
Profitability and asset management          
Return on net assets (%)   23     28 34
Return on ordinary shareholders’ equity          
– Attributable earnings (%)   15     14 21
– Headline earnings (%)   15     13 19
Return on invested capital (%)   19     18 14
Return on capital employed (%)   24     22 16
Operating margin (%)   14     14 14
Solvency and liquidity          
Net financing cost cover (times) – EBIT   7     4 6
Net financing cost cover (times) – EBITDA   10     6 8
Current ratio (times)   3     2 2
Net debt to equity (%)   5     5 1,5
Net debt to earnings before interest, tax, depreciation and          
amortisation (times)   0,2     0,3 3,3
Number of years to repay interest-bearing debt   1     4 3
 

Key ratios for 2005 and 2006 have been restated to mirror the 2007 organisational configuration i.e. Eyesizwe Coal has been 100% consolidated; a 20% interest in Sishen Iron Ore Company has been equity accounted; all non-recurring accounting entries relating to the creation of Exxaro have been eliminated, and the impairment of the carrying value of the KZN Sands assets in 2006 has been excluded.