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  • Supplementary financial information
 
 
  Definitions  
     
     
 
Attributable cash flow per ordinary share Cash flow from operating activities after adjusting for minority participation therein, divided by the weighted average number of ordinary shares in issue during the year.
Capital employed Total shareholders’ financial asset investments. equity plus net debt minus non-current fi nancial asset investments.
Cash and cash equivalents Comprise cash on hand and current accounts in bank, net of bank overdrafts, together with any highly liquid investments readily convertible to known amounts of cash and not subject to significant risk of changes in value.
Current ratio Current assets divided by current liabilities.
Dividend cover Headline earnings per ordinary share divided by dividends per ordinary share.
Dividend yield Dividends per ordinary share divided by the closing share price at the JSE Limited.
Earnings per ordinary share    
– Attributable earnings    basis Earnings attributable to ordinary shareholders divided by the weighted average number of ordinary shares in issue during the year.
    Headline earnings    basis
Earnings attributable to ordinary shareholders adjusted for profits and losses on items of a capital nature recognising the taxation and minority impacts on these adjustments, divided by the weighted average number of ordinary shares in issue during the year.
Financing cost cover    
  • EBIT
Net operating profit (before interest and tax) divided by net financing costs.
  • EBITDA
  •  
    Net operating profit (before interest, tax, depreciation, amortisation, impairment charges and net deficit/surplus on sale of investments and assets) divided by net financing costs.
    Headline earnings yield Headline earnings per ordinary share divided by the closing share price at the JSE Limited.
    Invested capital Total shareholders’ equity, interest-bearing debt, non-current provisions and net deferred taxation less cash and cash equivalents.
    Net assets Total assets less current and non-current liabilities less minority interest which equates to ordinary shareholders’ equity.
    Net debt to equity ratio Interest-bearing debt less cash and cash equivalents as percentage of total shareholders’ equity.
    Net equity per ordinary share Ordinary shareholders’ equity divided by Ordinary shareholders’ equity divided by the number of ordinary shares in issue at the year-end.
    Number of years to repay interest-bearing debt Interest-bearing debt divided by cash flow from operating activities before dividends paid.
    Operating margin Net operating profit as a percentage of revenue.
    Operating profit per employee Net operating profit divided by the average number of employees during the year.
    Return on capital employed Net operating profit plus income from non-equity accounted investments plus income from investments in associates as a percentage of average capital employed.
    Return on ordinary shareholders’ equity    
    Attributable earnings Attributable earnings to ordinary shareholders as a percentage of average ordinary shareholders’ equity.
      – Headline earnings
    Headline earnings attributable to ordinary shareholders as a percentage of average ordinary shareholders’ equity.
    Return on invested capital Net operating profit plus income from non-equity accounted investments plus income from investments in associates as a percentage of the average invested capital.
    Return on net assets Net operating profit plus income from non-equity accounted investments plus income from investments in associates as a percentage of the average net assets.
    Revenue per employee Revenue divided by the average number of employees during the year.
    Total asset turnover Revenue divided by average total assets.
    Weighted average number of shares in issue
    The number of shares in issue at the beginning of the year, increased by shares issued during the year, weighted on a time basis for the period in which they have participated in the income of the group. In the case of shares issued pursuant to a share capitalisation award in lieu of dividends, the participation of such shares is deemed to be from the date of issue.