This Integrated Annual Report aims to document Blue Label Telecoms' (Blue Label) unique sustainable value creation model and to provide a holistic view of our operations. At the same time, the report shares Blue Label's integrated thinking as it implements its strategy across the Group.
This report covers its business segments and financial and operational performance for the financial year ended 31 May 2023.
Ultimately, the report aims to provide stakeholders with a means of assessing Blue Label's ability to create and sustain value over the short (within 12 months), medium (one to three years) and long (three years and beyond) terms.
This report has been compiled in line with the disclosure requirements of the King IV Report on Corporate Governance for South Africa (King IV), the JSE Listings Requirements, and the principles of the International Integrated Reporting Framework.
Blue Label aims to link material information with reference to strategy, governance, performance, remuneration, risk and opportunities and prospects in a manner that enables stakeholders to obtain a view of the commercial, social, and environmental context in which Blue Label operates.
The report also aims to provide a balanced view of material matters Blue Label is dealing with and the manner in which these are managed in accordance with the six capitals, as defined by the International Integrated Reporting Framework.
In order to determine the material content of the report, Blue Label applies a risk-based model that identifies risks, opportunities and stakeholder issues. Material matters are defined as those that substantively affect the ability of Blue Label to create shared value over the short, medium and long term.
The annual financial statements are prepared in accordance with International Financial Reporting Standards (IFRS), the JSE Listings Requirements, and the Companies Act of South Africa, No 71 of 2008, as amended.
In order to enhance the disclosures around our Environmental, Social and Governance (ESG) context, we have started to align our disclosures contained in our integrated report with those recommended by the JSE Sustainability Disclosure Guidelines (SDG), issued by the JSE in June 2022. As we further assess and integrate strategic responses and performance management around our most material ESG risks and opportunities we will evolve and further align with these guidelines, international reporting trends and our stakeholder disclosure requirements.
Blue Label aims to achieve the highest standards for all disclosures included in this integrated annual report to provide meaningful, accurate, complete, transparent and balanced information to stakeholders.
Blue Label's external auditor is independently assuring the annual financial statements. The Board of Directors (the Board) did not deem it necessary to obtain independent external assurance on non-financial information.
The Board acknowledges its responsibility to ensure the integrity of this integrated annual report and is assisted in this regard by the Audit, Risk and Compliance Committee (ARCC).
The Board has applied its collective mind to the preparation and presentation of this integrated annual report and has concluded that it is presented substantially in accordance with the principles of the Integrated Reporting Framework, while noting that the reporting continues to evolve year-on-year.
The Integrated Annual Report was approved by the Board.
LM Nestadt
Chairman
29 September 2023
Blue Label Telecoms Integrated Annual Report 2023
