Segment report
for the year ended 30 September 2021
| |
Revenue1 |
Operating income |
Depreciation
and amortisation |
| (R’million) |
|
|
2021 |
2020 |
2021 |
Restated*
2020 |
2021 |
2020 |
|
|
| DOMESTIC OPERATIONS |
|
|
27 620,6 |
26 428,7 |
2 915,0 |
2 564,4 |
708,2 |
634,6 |
|
|
| Grains |
|
|
14 589,5 |
13 920,4 |
1 369,4 |
1 235,7 |
252,2 |
254,3 |
|
|
| Milling and Baking2 |
|
|
10 118,7 |
9 955,2 |
1 016,0 |
1 121,6 |
221,6 |
223,9 |
|
|
| Other Grains3 |
|
|
4 470,8 |
3 965,2 |
353,4 |
114,1 |
30,6 |
30,4 |
|
|
| Consumer Brands |
|
|
11 080,4 |
10 667,9 |
1 131,1 |
940,5 |
267,5 |
261,8 |
|
|
| Groceries |
|
|
5 532,6 |
5 545,8 |
396,5 |
353,7 |
141,0 |
158,2 |
|
|
| Snacks & Treats |
|
|
2 297,7 |
2 140,9 |
233,8 |
170,5 |
50,0 |
44,2 |
|
|
| Beverages |
|
|
1 656,1 |
1 560,1 |
260,5 |
238,4 |
40,4 |
38,9 |
|
|
| Out of Home |
|
|
497,3 |
446,0 |
97,3 |
67,0 |
– |
– |
|
|
| Baby Care5 |
|
|
1 096,7 |
975,1 |
143,0 |
110,9 |
36,1 |
20,5 |
|
|
| Home, Personal Care (HPC) |
|
|
1 950,7 |
1 840,4 |
432,6 |
399,5 |
30,5 |
28,7 |
|
|
| Personal Care |
|
|
643,3 |
661,3 |
46,9 |
78,8 |
22,4 |
19,0 |
|
|
| Home Care |
|
|
1 307,4 |
1 179,1 |
385,7 |
320,7 |
8,1 |
9,7 |
|
|
| Other4 |
|
|
– |
– |
(18,1) |
(11,3) |
158,0 |
89,8 |
|
|
| EXPORTS AND INTERNATIONAL |
|
|
3 588,2 |
3 367,4 |
96,2 |
103,3 |
99,2 |
115,9 |
|
|
| Exports6 |
|
|
1 795,5 |
1 539,7 |
71,3 |
32,8 |
32,5 |
29,0 |
|
|
| International operations – Central Africa (Chococam) |
|
|
1 010,2 |
942,3 |
172,3 |
148,7 |
39,5 |
39,1 |
|
|
| Deciduous Fruit (LAF) |
|
|
1 210,6 |
1 283,0 |
(147,4) |
(78,2) |
27,2 |
47,8 |
|
|
| Other intergroup sales |
|
|
(428,1) |
(397,6) |
– |
– |
– |
– |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total from continuing operations before the following items: |
|
|
31 208,8 |
29 796,1 |
3 011,2 |
2 667,7 |
807,4 |
750,5 |
|
|
| Impact of product recall (refer note 3.1) |
|
|
(254,9) |
|
(646,8) |
|
|
|
|
|
| Impact of the civil unrest (refer note 3.2) |
|
|
– |
|
(85,2) |
|
|
|
|
|
| Restructuring and related costs |
|
|
|
|
(2,4) |
(68,2) |
|
|
|
|
| Davita legal settlement |
|
|
|
|
– |
(66,6) |
|
|
|
|
| Early settlement of lease liability |
|
|
|
|
– |
10,7 |
|
|
|
|
| IFRS 2 charges |
|
|
|
|
(41,3) |
(66,1) |
|
|
|
|
| Total from continuing operations |
|
|
30 953,9 |
29 796,1 |
2 235,5 |
2 477,5 |
807,4 |
750,5 |
|
|
| Discontinued operation – Value Added Meat Products (VAMP) |
|
|
119,9 |
1 178,4 |
19,1 |
(489,6) |
0,2 |
38,8 |
|
|
| Discontinued operations – West Africa |
|
|
– |
9,8 |
– |
(13,5) |
– |
– |
|
|
| Total group |
|
|
31 073,8 |
30 984,3 |
2 254,6 |
1 974,4 |
807,6 |
789,3 |
|
|
| 1 |
Refer to note 2.1 of the financial statements for further information on geographical split. |
| 2 |
Comprises maize milling, wheat milling and baking and sorghum-based products. |
| 3 |
Comprises rice, pasta and oat-based breakfast cereals. |
| 4 |
Includes the corporate office and management expenses relating to international investments. |
| 5 |
In order to bring external segmental reporting in line with internal reporting, Baby Care has been reclassified into the Consumer Brands
segment, from Home, Personal and Baby Care previously. This change does not have a financial impact on the group and better reflects
how management reviews financial information in order to allocate resources and assess performance. Prior year segmental numbers have
been restated to reflect this change. |
| 6 |
The key markets contributing to Exports revenue is Mozambique at 43% (2020: 45%); Zambia at 10% (2020: 10%); Zimbabwe at
9% (2020: 3%); and Nigeria at 2% (2020: 2%). |
| * |
Restated as required in line with the presentation requirements of IAS 1 as part of continuous improvements in terms of IFRS.
(Refer to note 21.2). |
All segments operate on an arm’s length basis in relation to inter-segment pricing.
| |
Total assets |
Accounts payable,
accruals and taxation |
Capital expenditure |
| (R’million) |
|
|
2021 |
2020# |
2021 |
2020# |
2021 |
2020 |
|
|
| DOMESTIC OPERATIONS |
|
|
19 330,2 |
17 992,3 |
4 947,6 |
3 821,1 |
910,3 |
772,5 |
|
|
| Grains |
|
|
5 641,8 |
5 486,4 |
2 025,0 |
1 356,2 |
317,9 |
277,3 |
|
|
| Milling and Baking1 |
|
|
3 792,0 |
3 841,2 |
1 179,5 |
1 000,7 |
209,2 |
180,6 |
|
|
| Other Grains2 |
|
|
1 849,8 |
1 645,2 |
845,5 |
355,5 |
108,7 |
96,7 |
|
|
| Consumer Brands |
|
|
8 135,9 |
8 357,5 |
2 713,8 |
2 095,0 |
527,3 |
355,2 |
|
|
| Groceries |
|
|
4 112,9 |
4 389,5 |
1 433,4 |
1 068,6 |
264,4 |
174,1 |
|
|
| Snacks & Treats |
|
|
1 577,0 |
1 357,3 |
480,1 |
455,8 |
106,8 |
83,5 |
|
|
| Beverages |
|
|
1 144,7 |
1 485,1 |
322,0 |
180,2 |
99,7 |
69,5 |
|
|
| Home, Personal Care and Baby (HPCB) |
|
|
1 301,3 |
1 125,6 |
478,3 |
390,4 |
56,4 |
28,1 |
|
|
| Other3 |
|
|
5 552,5 |
4 148,4 |
208,8 |
369,9 |
65,1 |
140,0 |
|
|
| EXPORTS AND INTERNATIONAL |
|
|
3 501,8 |
3 483,3 |
867,7 |
789,1 |
103,4 |
121,0 |
|
|
| Exports |
|
|
1 784,3 |
1 642,1 |
287,1 |
212,8 |
21,7 |
25,8 |
|
|
| International operations – Central Africa (Chococam) |
|
|
792,7 |
845,9 |
445,1 |
433,6 |
66,6 |
36,2 |
|
|
| Deciduous Fruit (LAF) |
|
|
891,1 |
995,3 |
135,5 |
142,7 |
15,1 |
59,0 |
|
|
| Assets classified as held for sale4 |
|
|
– |
419,2 |
|
|
– |
43,6 |
|
|
| Total |
|
|
22 798,3 |
21 894,8 |
5 815,3 |
4 610,2 |
1 013,7 |
937,1 |
|
|
| 1 |
Comprises maize milling, wheat milling and baking and sorghum-based products. |
| 2 |
Comprises rice, pasta and oat-based breakfast cereals. |
| 3 |
Includes the corporate office. |
| 4 |
Refer to note 36 for detail on assets classified as held for sale. |
| # |
Restated as the group reclassified customer rebates as part of continuous improvements in terms of IFRS 15. (Refer note 21.1). |
| (R’million) |
2021 |
2020 |
| Split of non-current assets |
|
|
| South Africa |
7 222,8 |
6 923,0 |
| Outside South Africa |
1 167,1 |
1 079,9 |
| Total |
8 389,9 |
8 002,9 |
| Reconciliation of total assets |
|
|
| Total assets per statement of financial position |
22 831,9 |
21 917,2 |
| Deferred taxation asset |
(33,6) |
(22,4) |
| |
22 798,3 |
21 894,8 |
