ANNUAL FINANCIAL STATEMENTS 2024

for the year ended 30 September 2024

Summary of ratios and statistics

  2024 2023 2022 2021 2020
Ordinary share performance          
Number of ordinary shares upon which headline earnings per share is based ('000)2 155 922 156 390 162 552 165 735 165 687
Headline earnings per ordinary share (cents) 1 810 1 735 1 702 1 127 940
Dividends per ordinary share (cents)1 1 034 991 973 320 434
Dividend cover (times)1 1,8 1,8 1,7 3,5 2,2
Net worth per ordinary share (cents) 11 590 10 321 9 384 9 383 9 433
Profitability and asset management          
Asset turnover (times) 2,5 2,6 2,7 2,6 2,6
Working capital per R1 revenue 19,5 22,6 20,6 20,3 21,4
Operating margin (%) 8,3 8,3 10,1 7,2 8,3
Effective taxation rate (%) 21,3 23,0 26,0 24,9 32,7
Return on equity (%)4 15,7 15,7 18,4 12,7 9,0
Return on average net assets (%) 21,3 21,7 27,5 19,3 21,1
Return on invested capital (%)4 14,9 14,7 16,4
Financing          
Current ratio 1,8 1,9 1,6 2,0 2,2
Net interest cover (times) 11 13 46 42 27
Net debt/(cash) to net funding (%) (2) 7 2 (11) (10)
Total liabilities to total shareholders’ funds (%) 42 46 49 41 31
Cash flow to net liabilities (%) 61 45 49 72 73
Employee statistics          
Number of employees at year end3 9 720 10 323 10 439 11 093 11 978
– permanent 8 785 9 296 9 670 10 158 11 188
– seasonal 935 1 027 769 935 790
Revenue per employee (R’000) 3 875 3 622 3 260 2 790 2 488
Value added per employee (R’000) 756 669 683 653 649
Operating profit per employee (R’000) 323 302 329 202 217
Economic indicators          
Consumer Price Index (September on September) 3,8% 5,4% 7,5% 5,0% 3,0%
Key closing exchange rates at 30 September vs ZAR          
– USD 17,22 18,83 17,98 15,10 16,81
– GBP 23,05 23,01 20,01 20,35 21,61
– EUR 19,24 19,93 17,57 17,49 19,66
Stock exchange statistics          
Market price per share (cents)          
– year end 23 300 15 345 16 944 18 727 19 077
– highest 24 541 22 501 19 806 22 634 23 579
– lowest 14 233 15 034 13 594 17 800 15 141
Number of transactions 502 178 554 271 597 229 573 280 913 673
Number of shares traded (000) 89 751 114 473 208 339 109 634 205 890
Value of shares traded (Rm) 17 858 21 096 32 848 22 359 38 299
Number of shares traded as a percentage of total issued shares 49,8 63,5 128,2 66,2 124,3
Dividend yield at year end (%) 4,4 6,5 5,7 1,7 2,3
Earnings yield at year end (%) 7,7 11,1 10,0 5,9 5,0
Price earnings ratio at year end 13 9 10 17 20
Market capitalisation at year end (Rm) 42 016 27 671 32 163 35 547 36 212
Market capitalisation to shareholders’ equity at year end (times) 2,4 1,7 2,1 2,3 2,3

1  Based on the sum of the interim dividend paid in the current year and the final dividend declared post-year end
2  Net of treasury and empowerment shares
3  Includes employees of international operations
4   Return on invested capital (ROIC) is a calculation used to assess the company's performance on invested capital. Return on equity (ROE) is a calculation used to assess the company's performance on its equity. Refer to definitions.