|
Core headline
Core headline earnings per share are calculated by adding back to headline earnings, the amortisation of intangible assets net of deferred taxation and non-controlling interests as a consequence of the
purchase price allocations completed in terms of IFRS 3(R) - Business Combinations.
Use of adjusted measures
The measures listed below are presented as management believes it to be relevant to the understanding of the Groups financial performance. These measures are used for internal performance analysis and provide additional useful information on underlying trends to equity holders. These measures are not defined terms under IFRS and may therefore not be comparable with similarly titled measures reported by other entities. It is not intended to be a substitute for, or superior to, measures as required by IFRS.
(a) Headline earnings, earnings and core headline earnings per share
|
|
| Total |
| Continuing operations |
Discontinued operations |
|
| Attributable earnings |
Cents per share |
| Attributable earnings |
Cents per share |
Attributable earnings |
Cents per share |
|
| 2021
R'000 |
2020
R'000 |
2021 |
2020 |
| 2021
R'000 |
2020
R'000 |
2021 |
2020 |
2021
R'000 |
2020
R'000 |
2021 |
2020 |
| Headline earnings per share |
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Basic |
| 756 917 |
521 313 |
86.16 |
58.16 |
| 731 936 |
436 747 |
83.32 |
48.73 |
24 981 |
84 566 |
2.84 |
9.43 |
| Diluted |
| 756 917 |
521 313 |
83.26 |
57.44 |
| 731 936 |
436 747 |
80.51 |
47.83 |
24 981 |
84 566 |
2.75 |
9.43 |
| Core |
| 787 580 |
562 132 |
89.65 |
62.71 |
| 762 599 |
469 113 |
86.81 |
52.33 |
24 981 |
93 019 |
2.84 |
10.38 |
| Earnings attributable to ordinary equity holders |
|
|
|
|
|
|
|
|
|
|
|
|
| – |
| Basic |
| 830 607 |
124 481 |
94.55 |
13.89 |
| 805 286 |
226 786 |
91.67 |
25.30 |
25 321 |
(102 305) |
2.88 |
(11.41) |
| Diluted |
| 830 607 |
124 481 |
91.36 |
13.89 |
| 805 286 |
226 786 |
88.58 |
24.84 |
25 321 |
(102 305) |
2.79 |
(11.41) |
(b) Weighted average number of shares
| Weighted average number of shares |
|
2021
'000 |
2020
'000 |
| Weighted average number of ordinary shares |
| 878 463 |
896 409 |
| Adjusted for forfeitable shares |
| 31 334 |
16 683 |
| Weighted average number of ordinary shares for diluted earnings1 |
| 909 797 |
913 092 |
| 1 |
The same weighted average number of shares for basic earnings per share is used for core headline earnings per share. |
(c) Analysis of headline earnings
|
|
| Total |
| Continuing operations |
| Discontinued operations |
|
| Profit/(loss)
before tax
and non-
controlling
interest R'000 |
Tax
R'000 |
Non-
controlling
interest
R'000 |
Headline
earnings
R'000 |
| Profit/(loss)
before tax
and non-
controlling
interest
R'000 |
Tax
R'000 |
Non-
controlling
interest
R'000 |
Headline
earnings
R'000 |
| Profit/(loss)
before tax
and non-
controlling
interest
R'000 |
Tax
R'000 |
Non-
controlling
interest
R'000 |
Headline
earnings
R'000 |
| 2021 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Profit attributable to equity holders of
the parent |
| 1 136 968 |
(258 952) |
(47 409) |
830 607 |
| 1 102 111 |
(249 416) |
(47 409) |
805 286 |
| 34 857 |
(9 536) |
– |
25 321 |
| Profit on disposal of property, plant and equipment |
| (1 016) |
284 |
– |
(732) |
| (544) |
152 |
– |
(392) |
| (472) |
132 |
– |
(340) |
| Impairment of property, plant and equipment |
| 5 559 |
(1 557) |
– |
4 002 |
| 5 559 |
(1 557) |
– |
4 002 |
| – |
– |
– |
– |
| Impairment of intangible assets |
| 754 |
(211) |
– |
543 |
| 754 |
(211) |
– |
543 |
| – |
– |
– |
– |
| Profit on disposal of joint venture |
| (26 955) |
– |
– |
(26 955) |
| (26 955) |
– |
– |
(26 955) |
| – |
– |
– |
– |
| Loss on disposal of joint venture |
| 1 990 |
– |
– |
1 990 |
| 1 990 |
– |
– |
1 990 |
| – |
– |
– |
– |
| FCTR recycled on the disposal of investment in joint venture |
| (52 538) |
– |
– |
(52 538) |
| (52 538) |
– |
– |
(52 538) |
| – |
– |
– |
– |
| Headline earnings |
|
|
|
| 756 917 |
|
|
|
| 731 936 |
|
|
|
| 24 981 |
| 2020 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Profit/(loss) attributable to equity holders of the parent |
| 518 349 |
(299 242) |
(94 626) |
124 481 |
| 500 835 |
(219 752) |
(54 297) |
226 786 |
| 17 514 |
(79 490) |
(40 329) |
(102 305) |
| Profit on disposal of property, plant and equipment and intangible assets |
| (13 460) |
3 769 |
280 |
(9 411) |
| (12 589) |
3 525 |
183 |
(8 881) |
| (871) |
244 |
97 |
(530) |
| Impairment of property, plant and equipment |
| 65 701 |
(2 044) |
– |
63 657 |
| 7 303 |
(2 044) |
– |
5 259 |
| 58 398 |
– |
– |
58 398 |
| Impairment of leased assets |
| 30 712 |
– |
– |
30 712 |
| – |
– |
– |
– |
| 30 712 |
– |
– |
30 712 |
| Profit on disposal of subsidiary |
| (528) |
– |
– |
(528) |
| – |
– |
– |
– |
| (528) |
– |
– |
(528) |
| Impairment of disposal groups |
| 53 232 |
– |
– |
53 232 |
| – |
– |
– |
– |
| 53 232 |
– |
– |
53 232 |
| Impairment of goodwill |
| 259 170 |
– |
– |
259 170 |
| 213 583 |
– |
– |
213 583 |
| 45 587 |
– |
– |
45 587 |
| Headline earnings |
|
|
|
| 521 313 |
|
|
|
| 436 747 |
|
|
|
| 84 566 |
(d) Analysis of core headline earnings
|
|
| Total |
Continuing
operations |
Discontinued
operations |
|
| 2021
R'000 |
2020
R'000 |
2021
R'000 |
2020
R'000 |
2021
R'000 |
2020
R'000 |
| Reconciliation between net profit for the period and core headline earnings for the period: |
|
|
|
|
|
| |
| Net profit/(loss) for the period |
| 830 607 |
124 481 |
805 286 |
226 786 |
25 321 |
(102 305) |
| Amortisation of intangibles raised through business combinations net of tax and non-controlling interest |
| 30 663 |
40 819 |
30 663 |
32 366 |
– |
8 453 |
| Core net profit/(loss) for the period |
| 861 270 |
165 300 |
835 949 |
259 152 |
25 321 |
(93 852) |
| Headline earnings adjustments |
| (73 690) |
396 832 |
(73 350) |
209 961 |
(340) |
186 871 |
| Core headline earnings |
| 787 580 |
562 132 |
762 599 |
469 113 |
24 981 |
93 019 |
|