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Segment report
Segment report
Download pdfFOR THE YEAR ENDED 30 SEPTEMBER 2022
| Revenue1 | Operating income | Depreciation and amortisation |
||||||
| (R’million) | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | ||
| DOMESTIC OPERATIONS | 29 769,5 | 27 620,6 | 2 955,0 | 2 915,0 | 782,7 | 708,2 | ||
|---|---|---|---|---|---|---|---|---|
| Grains | 15 495,6 | 14 589,5 | 1 272,1 | 1 369,4 | 269,3 | 252,2 | ||
| Milling and Baking2 | 10 642,2 | 10 118,7 | 803,0 | 1 016,0 | 233,7 | 221,6 | ||
| Other Grains3 | 4 853,4 | 4 470,8 | 469,1 | 353,4 | 35,6 | 30,6 | ||
| Consumer Brands | 12 415,2 | 11 080,4 | 1 412,8 | 1 131,1 | 302,2 | 267,5 | ||
| Groceries | 6 376,9 | 5 532,6 | 597,4 | 396,5 | 164,2 | 141,0 | ||
| Snacks & Treats | 2 391,8 | 2 297,7 | 262,9 | 233,8 | 63,0 | 50,0 | ||
| Beverages | 1 841,5 | 1 656,1 | 268,9 | 260,5 | 49,5 | 40,4 | ||
| Baby | 1 135,9 | 1 096,7 | 147,2 | 143,0 | 20,0 | 36,1 | ||
| Out of Home | 669,1 | 497,3 | 136,4 | 97,3 | 5,5 | – | ||
| Home and Personal Care | 1 858,7 | 1 950,7 | 307,7 | 432,6 | 39,8 | 30,5 | ||
| Personal Care | 671,8 | 643,3 | 16,1 | 46,9 | 29,4 | 22,4 | ||
| Home Care | 1 186,9 | 1 307,4 | 291,6 | 385,7 | 10,4 | 8,1 | ||
| Other4 | – | – | (37,6) | (18,1) | 171,4 | 158,0 | ||
| EXPORTS AND INTERNATIONAL | 4 261,1 | 3 588,2 | 350,4 | 96,2 | 78,1 | 99,2 | ||
| Exports5 | 2 039,9 | 1 795,5 | 143,3 | 71,3 | 33,9 | 32,5 | ||
| International operation – Central Africa (Chococam) | 1 109,9 | 1 010,2 | 181,3 | 172,3 | 43,6 | 39,5 | ||
| Deciduous Fruit (LAF) | 1 598,3 | 1 210,6 | 25,8 | (147,4) | 0,6 | 27,2 | ||
| Other intergroup sales | (487,0) | (428,1) | – | – | – | – | ||
| Total from continuing operations before the following items: | 34 030,6 | 31 208,8 | 3 305,4 | 3 011,2 | 860,8 | 807,4 | ||
| Impact of product recall (refer note 3.1)6 | (1,7) | (254,9) | 35,8 | (646,8) | ||||
| Impact of the civil unrest (refer note 3.2) | – | – | 137,5 | (85,2) | ||||
| Restructuring and related costs (reversed)/raised | 7,8 | (2,4) | ||||||
| IFRS 2 charges | (55,8) | (41,3) | ||||||
| Total from continuing operations | 34 028,9 | 30 953,9 | 3 430,7 | 2 235,5 | 860,8 | 807,4 | ||
| Discontinued operation – Value Added Meat Products (VAMP) | – | 119,9 | – | 19,1 | – | 0,2 | ||
| Total group | 34 028,9 | 31 073,8 | 3 430,7 | 2 254,6 | 860,8 | 807,6 | ||
| 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 | The key markets contributing to Exports revenue is Mozambique at 44% (2021: 43%); Zambia at 10% (2021: 10%); Zimbabwe at 10% (2021: 9%); and Nigeria at 3% (2021: 2%). |
| 6 | Net of insurance proceeds received on canned vegetable product recall and the costs incurred on the Baby Talc powder recall (refer note 3.1). |
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) | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | ||
| DOMESTIC OPERATIONS | 20 586,6 | 19 330,2 | 5 461,9 | 4 947,6 | 887,5 | 910,3 | ||
|---|---|---|---|---|---|---|---|---|
| Grains | 6 252,4 | 5 641,8 | 1 936,2 | 2 025,0 | 227,6 | 317,9 | ||
| Milling and Baking1 | 4 204,1 | 3 792,0 | 1 090,3 | 1 179,5 | 160,0 | 209,2 | ||
| Other Grains2 | 2 048,3 | 1 849,8 | 845,9 | 845,5 | 67,6 | 108,7 | ||
| Consumer Brands | 10 037,1 | 8 135,9 | 2 610,8 | 2 713,8 | 565,2 | 527,3 | ||
| Groceries | 5 210,7 | 4 112,9 | 1 429,3 | 1 433,4 | 245,3 | 264,4 | ||
| Snacks & Treats | 1 651,1 | 1 577,0 | 502,3 | 480,1 | 97,1 | 106,8 | ||
| Beverages | 1 735,4 | 1 144,7 | 278,5 | 322,0 | 74,4 | 99,7 | ||
| Home, Personal and Baby Care (HPCB) | 1 439,9 | 1 301,3 | 400,7 | 478,3 | 148,4 | 56,4 | ||
| Other3 | 4 297,1 | 5 552,5 | 914,9 | 208,8 | 94,7 | 65,1 | ||
| EXPORTS AND INTERNATIONAL | 3 397,9 | 3 468,1 | 806,8 | 867,7 | 73,5 | 103,4 | ||
| Exports | 1 788,9 | 1 784,3 | 304,4 | 287,1 | 13,2 | 21,7 | ||
| International operations – Central Africa (Chococam) | 969,7 | 792,7 | 393,6 | 445,1 | 56,2 | 66,6 | ||
| Deciduous Fruit (LAF) | 639,3 | 891,1 | 108,8 | 135,5 | 4,1 | 15,1 | ||
| Total | 23 984,5 | 22 798,3 | 6 268,7 | 5 815,3 | 961,0 | 1 013,7 | ||
| 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. |
| (R’million) | 2022 | 2021 |
| Split of non-current assets | ||
| South Africa | 7 280,8 | 7 222,8 |
| Outside South Africa | 1 313,9 | 1 167,1 |
| Total | 8 594,7 | 8 389,9 |
| Reconciliation of total assets: | ||
| Total assets per statement of financial position | 24 018,8 | 22 831,9 |
| Deferred taxation asset | (34,3) | (33,6) |
| 23 984,5 | 22 798,3 |