INTEGRATED ANNUAL REPORT 2021
WHO
DARES,
WINS
Larry Nestadt
Chairman
Our strategic priorities for the year, aside from navigating the COVID-19 pandemic, were to right size the business through asset sales, to implement our ‘back to basics’ operational plan and to restore the investment value in Cell C. A renewed focus on our core strengths have served us well.
Chairman’s report
Brett Levy
Joint CEO
Mark Levy
Joint CEO
Blue Label's resilience stems from our adaptability, innovation, and a strong focus on digital channels.
Joint CEOs' report
Dean Suntup
Financial Director
The Group continues to increase market share and bolster its product and services mix to defend and grow its positions in the market.
Financial Director's reportHighlights
Revenue of R18.8 billion*
Interest-bearing borrowings reduced to R1.7 billion (2020: R2.3 billion)
Increase in gross profit margin from 10.05% to 12.66%
Gross profit of R2.38 billion (2020: R2.12 billion)
Net cash generated from
operating activities of
R1.5 billion
(2020: R1.3 billion)
| * | On inclusion of the gross amount generated on “PINless top-ups”, prepaid electricity, ticketing and gaming, the effective increase equated to 10% from R59.9 billion to R66.0 billion. |
| ** | On exclusion of non-recurring income of R47 million in the current year and extraneous costs of R163 million in the prior year, core headline earnings per share from continuing operations increased by 16% to 81.50 cents per share compared to 70.54 cents per share in the prior year. |
How we create value
In allocating our capital to our strategy’s levers among the various value drivers, we need to consider the trade-offs between the resources available to us. The Framework categorises these resources into six capitals stocks that are affected or transformed by the activities and outputs of an organisation. All our decisions seek to maximise positive outcomes and mitigate negative impacts.
