FOR 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 |