|
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
Group's 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
Accounting Standards 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 Accounting Standards.
(a) Headline earnings, earnings and core headline earnings per share
|
|
| Attributable earnings |
|
Cents per share |
|
|
| 2025
R'000 |
| 2024
R'000 |
| 2025 |
| 2024 |
| Headline earnings per share |
|
|
|
|
|
|
| |
| Basic |
| 4 096 406 |
| 657 699 |
| 455.96 |
| 73.64 |
| Diluted |
| 4 096 406 |
| 657 699 |
| 453.86 |
| 73.17 |
| Core |
| 4 147 296 |
| 679 488 |
| 461.63 |
| 76.08 |
| Earnings attributable to ordinary equity holders |
|
|
|
|
|
|
| |
| Basic |
| 2 484 243 |
| 647 386 |
| 276.52 |
| 72.49 |
| Diluted |
| 2 484 243 |
| 647 386 |
| 275.24 |
| 72.03 |
(b) Weighted average number of shares
| Weighted average number of shares |
| 2025
R'000 |
| 2024
R'000 |
| Weighted average number of ordinary shares |
| 898 408 |
| 893 117 |
| Adjusted for conditional shares |
| 4 154 |
| 5 693 |
| Weighted average number of ordinary shares for diluted earnings1 |
| 902 562 |
| 898 810 |
| 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
|
|
| Profit
before tax
and non-
controlling
interest
R'000 |
Tax
R'000 |
Non-
controlling
interest
R'000 |
Headline
earnings
R'000 |
| 2025 |
|
|
|
| |
| Profit attributable to equity holders of the parent |
| 2 624 525 |
(143 805) |
3 523 |
2 484 243 |
| Net loss on disposal of property, plant and equipment |
| 1 998 |
(424) |
(747) |
827 |
| Impairment of property, plant and equipment |
| 22 150 |
(5 981) |
— |
16 169 |
| Net loss on disposal of property, plant and equipment in associate/joint venture2 |
| 17 755 |
— |
— |
17 755 |
| Net loss on sale of joint venture |
| 7 902 |
683 |
(1 631) |
6 954 |
| Reversal of impairment of investment in associate |
| (1 555 042) |
— |
— |
(1 555 042) |
| Impairment of property, plant and equipment in associate2 |
| 804 387 |
— |
— |
804 387 |
| Impairment of intangible assets in associate2 |
| 1 638 571 |
— |
— |
1 638 571 |
| Impairment of leased assets in associate2 |
| 682 542 |
— |
— |
682 542 |
| Headline earnings |
|
|
|
| 4 096 406 |
| 2024 |
|
|
|
| |
| Profit attributable to equity holders of the parent |
| 857 540 |
(197 955) |
(12 199) |
647 386 |
| Net loss on disposal of property, plant and equipment |
| 966 |
(261) |
34 |
739 |
| Impairment of property, plant and equipment |
| 12 417 |
(3 353) |
— |
9 064 |
| Impairment of intangible assets |
| 1 500 |
(405) |
— |
1 095 |
| Net profit on disposal of property, plant and equipment in associate/joint venture |
| (585) |
— |
— |
(585) |
| Headline earnings |
|
|
|
| 657 699 |
| 2 |
With reference to note 2.2.1, during the current year all of the previously unrecognised Group's share of cumulative losses in Cell C
of R1.6 billion were recognised, which included these capital items. |
|
| |
The Group's share of accumulated losses not guaranteed |
|
| |
Group's share
of accumulated
losses in
Cell C from
1 June 2019 to
31 May 2024
R'000 |
Recognised
up to
31 May 2024
R'000 |
Recognised
during the
current year
R'000 |
| Group's share of accumulated losses |
|
(2 935 324) |
(1 328 767) |
(1 606 557) |
| Capital items included in the Group's share of accumulated losses: |
|
4 199 336 |
1 056 062 |
3 143 274 |
| Net loss on disposal of property, plant and equipment |
|
23 809 |
6 035 |
17 774 |
| Net impairment loss on property, plant and equipment |
|
1 134 516 |
330 129 |
804 387 |
| Net impairment loss on intangibles assets |
|
2 154 580 |
516 009 |
1 638 571 |
| Net impairment loss on leased assets |
|
886 431 |
203 889 |
682 542 |
|
| |
|
|
(d) Analysis of core headline earnings
|
|
| 2025
R'000 |
| 2024
R'000 |
| Reconciliation between net profit and core headline earnings for the year: |
|
|
| |
| Net profit for the year |
| 2 484 243 |
| 647 386 |
| Amortisation of intangibles raised through business combinations net of tax and non-controlling interest |
| 50 890 |
| 21 791 |
| Core net profit for the year |
| 2 535 133 |
| 669 177 |
| Headline earnings adjustments |
| 1 612 163 |
| 10 311 |
| Core headline earnings |
| 4 147 296 |
| 679 488 |
|
