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Tiger Brands Limited

Annual Financial Statements

Summary of ratios and statistics

Summary of ratios and statistics

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(R’million) 2022 2021 2020 2019 2018
Ordinary share performance          
Number of ordinary shares upon which headline earnings per share is based (000)1 162 552 165 735 165 687 165 623 164 714
Headline earnings per ordinary share (cents) 1 702 1 127 940 1 322 1 589
Dividends per ordinary share (cents)2 973 320 434 627 1 080
Dividend cover (times)2 1,7 3,5 2,2 2,1 1,5
Net worth per ordinary share (cents) 9 384 9 383 9 433 9 201 10 448
Profitability and asset management          
Asset turnover (times) 2,7 2,6 2,6 2,4 2,3
Working capital per R1 revenue 20,6 20,3 21,4 22,3 21,6
Operating margin (%) 10,1 7,2 8,3 11,1 11,6
Effective taxation rate (%) 26,0 24,9 32,7 18,1 24,7
Return on equity (%) 18,4 12,7 9,0 13,9 16,7
Return on average net assets (%) 27,7 19,3 21,1 26,1 26,6
Return on invested capital (%)3 16,4
Financing          
Current ratio 1,7 1,9 2,2 2,0 2,0
Net interest cover (times) 46 42 27 79
Net cash to net funding (%) 2 (11) (10) (8) (3)
Total liabilities to total shareholders’ funds (%) 49 41 31 37 31
Cash flow to net liabilities (%) 49 72 73 65 77
Employee statistics          
Number of employees at year end4 10 439 11 093 11 978 11 103 11 678
– permanent 9 670 10 158 11 188 10 543 11 348
– seasonal 769 935 790 560 330
Revenue per employee (R’000) 3 260 2 790 2 488 2 633 2 438
Value added per employee (R’000) 683 653 649 694 670
Operating profit per employee (R’000) 329 202 217 236 277
Economic indicators          
Consumer Price Index (September on September) 7,5% 5,0% 3,0% 4,1% 4,8%
Key closing exchange rates at 30 September vs ZAR          
– USD 17,98 15,10 16,81 15,15 14,17
– GBP 20,01 20,35 21,61 18,66 18,44
– EUR 17,57 17,49 19,66 16,52 16,41
Stock exchange statistics          
Market price per share (cents)          
– year end 16 944 18 727 19 077 21 056 26 502
– highest 19 806 22 634 23 579 26 942 47 450
– lowest 13 594 17 800 15 141 20 505 26 502
Number of transactions 597 229 573 280 913 673 993 320 914 360
Number of shares traded (’000) 208 339 109 634 205 890 179 529 197 471
Value of shares traded (R’million) 32 848 22 359 38 299 44 278 72 584
Number of shares traded as a percentage of total issued shares 128,2 66,2 124,3 108,4 104,0
Dividend yield at year end (%) 5,7 1,7 2,3 5,0 4,1
Earnings yield at year end (%) 10,0 5,9 5,0 6,3 5,9
Price earnings ratio at year end 10 17 20 16 17
Market capitalisation at year end (R’million) 32 163 35 547 36 212 39 968 50 306
Market capitalisation to shareholders’ equity at year end (times) 2,1 2,3 2,3 2,6 2,9
1 Net of treasury and empowerment shares.
2 Based on the sum of the interim dividend paid in the current year and the final dividend declared post year end.
3 ROIC is a calculation used to assess the company’s performance on invested capital. Refer to definitions.
4 Includes employees of international operations.