US$ million |
2022 |
2021 |
2020 |
2019 |
Income statement |
|
|
|
|
|
Sales |
5,809 |
7,296 |
5,265 |
4,609 |
5,746 |
Variable manufacturing and delivery costs |
3,538 |
4,380 |
3,238 |
2,838 |
3,530 |
Fixed costs |
1,788 |
1,832 |
1,777 |
1,673 |
1,771 |
Sundry expenses (income)1 |
51 |
46 |
47 |
41 |
43 |
Operating profit excluding special items |
432 |
1,038 |
203 |
57 |
402 |
Special items – (gains) losses |
52 |
268 |
57 |
95 |
19 |
Operating profit (loss) |
380 |
770 |
146 |
(38) |
383 |
Net finance costs |
49 |
97 |
134 |
88 |
85 |
Profit (loss) before taxation |
331 |
673 |
12 |
(126) |
298 |
Taxation charge |
72 |
137 |
(1) |
9 |
87 |
Profit (loss) for the year |
259 |
536 |
13 |
(135) |
211 |
EBITDA excluding special items |
731 |
1,339 |
532 |
378 |
687 |
Balance sheet |
|
|
|
|
|
Total assets |
5,796 |
6,229 |
6,186 |
5,455 |
5,623 |
Non-current assets |
3,742 |
3,430 |
4,255 |
3,891 |
3,789 |
Current assets |
2,054 |
2,799 |
1,931 |
1,564 |
1,834 |
Current liabilities |
1,316 |
1,524 |
1,309 |
1,123 |
1,214 |
Shareholders' equity |
2,445 |
2,358 |
1,970 |
1,632 |
1,948 |
Net debt |
1,085 |
1,163 |
1,946 |
1,957 |
1,501 |
Gross interest-bearing debt |
1,686 |
1,943 |
2,312 |
2,236 |
1,894 |
Cash |
(601) |
(780) |
(366) |
(279) |
(393) |
Capital employed |
3,530 |
3,521 |
3,916 |
3,589 |
3,449 |
Cash flow |
|
|
|
|
|
Cash generated from operations |
659 |
1 267 |
472 |
323 |
673 |
Decrease (increase) in working capital |
178 |
(270) |
39 |
65 |
(15) |
Finance costs paid |
(121) |
(102) |
(110) |
(108) |
(51) |
Finance income received |
30 |
10 |
8 |
6 |
9 |
Taxation paid |
(56) |
(23) |
(2) |
(26) |
(51) |
Dividends paid |
(85) |
– |
– |
– |
(92) |
Cash generated from operating activities |
605 |
882 |
407 |
260 |
473 |
Net cash generated (utilised) |
210 |
506 |
29 |
(257) |
1 |
Cash effects of financing activities |
(416) |
(43) |
33 |
138 |
56 |
Capital expenditure (gross) |
382 |
368 |
374 |
351 |
471 |
To maintain operations |
170 |
196 |
176 |
126 |
148 |
To expand operations |
212 |
172 |
198 |
225 |
323 |
|
|
|
|
|
|
Exchange rates |
|
|
|
|
|
US$ per one Euro exchange rate – closing |
1.057 |
0.980 |
1.172 |
1.163 |
1.094 |
US$ per one Euro exchange rate – average (financial year) |
1.068 |
1.085 |
1.196 |
1.120 |
1.128 |
ZAR to one US$ exchange rate – closing |
18.930 |
18.154 |
14.966 |
17.131 |
15.156 |
ZAR to one US$ exchange rate – average (financial year) |
18.179 |
15.783 |
14.851 |
16.226 |
14.346 |
|
|
|
|
|
|
US$ million |
2022 |
2021 |
2020 |
2019 |
Statistics |
|
|
|
|
|
Number of ordinary shares (millions)1 |
|
|
|
|
|
In issue at year-end |
558.8 |
565.2 |
561.5 |
546.1 |
542.8 |
Basic weighted average number of shares in issue during the year |
563.6 |
563.3 |
549.7 |
545.5 |
542.0 |
Per share information (US cents) |
|
|
|
|
|
Basic earnings (loss) |
46 |
95 |
2 |
(25) |
39 |
Diluted earnings (loss) |
44 |
90 |
2 |
(25) |
39 |
Headline earnings (loss) |
50 |
130 |
5 |
(19) |
42 |
Diluted headline earnings (loss) |
47 |
122 |
5 |
(19) |
42 |
EPS excluding special items (US cents) |
52 |
138 |
15 |
(5) |
44 |
Net asset value |
438 |
417 |
351 |
299 |
359 |
Profitability ratios (%) |
|
|
|
|
|
Operating profit (loss) to sales |
6.5 |
10.6 |
2.8 |
(0.8) |
6.7 |
Operating profit excluding special items to sales |
7.4 |
14.2 |
3.9 |
1.2 |
7.0 |
EBITDA excluding special items to sales |
12.6 |
18.4 |
10.1 |
8.2 |
12.0 |
Operating profit excluding special items to capital
employed (ROCE) |
12.3 |
27.9 |
5.4 |
1.6 |
11.5 |
Net debt to EBITDA excluding special items |
1.5 |
0.9 |
3.7 |
5.2 |
2.2 |
Interest cover |
11.4 |
15.6 |
5.5 |
4.7 |
9.3 |
Return on average equity (ROE) |
10.8 |
24.8 |
0.7 |
(7.5) |
10.0 |
Debt ratios (%) |
|
|
|
|
|
Net debt to total capitalisation |
30.7 |
33.0 |
49.7 |
54.5 |
43.5 |
Efficiency ratios |
|
|
|
|
|
Asset turnover (times) |
1.0 |
1.2 |
0.9 |
0.8 |
1.0 |
Inventory turnover ratio |
6.3 |
7.6 |
5.6 |
6.3 |
7.0 |
Liquidity ratios |
|
|
|
|
|
Current asset ratio |
1.6 |
1.8 |
1.5 |
1.4 |
1.5 |
Trade accounts receivable days outstanding (including receivables securitised) |
37 |
44 |
47 |
44 |
46 |
Cash interest cover (times) |
11.2 |
12.9 |
4.5 |
3.7 |
7.6 |
Other non-financial information2 |
|
|
|
|
|
Sales volumes |
6,282 |
7,937 |
7,339 |
6,788 |
7,622 |
Number of full-time equivalent employees |
12,329 |
12,495 |
12,492 |
12,805 |
12,821 |
Lost-time injury frequency rate (including contract employees) |
0.24 |
0.30 |
0.38 |
0.35 |
0.54 |
Energy |
|
|
|
|
|
Energy intensity (GJ/adt) |
26.20 |
22.10 |
22.30 |
23.70 |
22.10 |
Renewable and clean energy to total energy (%) |
57.90 |
55.00 |
54.90 |
54.80 |
53.50 |
Water |
|
|
|
|
|
Specific process water extracted (m3/adt) |
44.80 |
35.00 |
35.60 |
37.90 |
35.20 |
Waste |
|
|
|
|
|
Specific total landfill (kg/adt) |
73,600 |
51,100 |
52,100 |
60,000 |
6,100 |
Emissions |
|
|
|
|
|
Specific Scope 1 emissions (ton CO2 eq/adt) |
0.70 |
0.61 |
0.68 |
0.71 |
0.66 |
Absolute Scope 1 (ton CO2e) |
3,474,491 |
4,078,569 |
4,268,701 |
4,078,268 |
4,420,758 |
Specific Scope 2 emissions (ton CO2 eq/adt) |
0.25 |
0.20 |
0.18 |
0.21 |
0.23 |
Absolute Scope 2 (ton CO2e) |
1,234,513 |
1,332,807 |
1,160,564 |
1,206,691 |
1,553,109 |
Refer to share statistics section for other market and share-related information.