Annual Integrated Report




Underground Mining + Oil & Gas + Power & Water

Glossary of terms

AGM Annual General Meeting     IT Information Technology
ATON ATON GmbH     JSE Limited Johannesburg Stock Exchange
BBBEE Broad-based Black Economic Empowerment     JV Joint Venture
BCC Bombela Concessions Company     King IV™ King IV Report on Corporate Governance™ for South Africa, 2016
BCJV Bombela Civils Joint Venture     KLE Karratha Life Extension project
Board The Board of Murray & Roberts Holdings Limited     KPI Key Performance Indicator
BOC Bombela Operating Company     KPA Key Performance Area
Brownfield Existing, developed infrastructure on which expansion or redevelopment occurs     LNG Liquefied Natural Gas
CA California     LTI Long-term incentives
CEO Chief executive officer     LTI Lost-time injury
CFO Chief financial officer     LTIFR Lost Time Injury Frequency Rate
CAGR Compound Annual Growth Rate     LTCSIP Long-Term Cash Settled Incentive Plan
CAPEX Capital Expenditure     MAP/CRM Major Accident Prevention Critical Risk Management
Cementation AG Cementation Above Ground     M&A Mergers & Acquisitions
Company Murray & Roberts Holdings Limited     MRG Murray & Roberts Ghana Limited
CPSP Clough Phantom Share Plan     MRML Murray & Roberts Mozambique Limitada
CSI Corporate social investment     MRPE Murray & Roberts Power & Energy
Companies Act Act 71 of 2008 (as amended)     MRW Murray & Roberts Water
CTFE Coal Tar Filtration East     Mtpa Million Metric Tonnes Per Annum
Dubai Airport Dubai International Airport Concourse 2     Near Orders Tenders where the Group is the preferred bidder and final award is subject to financial/commercial close
EBIT Earnings Before Interest and Tax     NPI Non-process Infrastructure
EBITDA Earnings Before Interest, Tax, Depreciation and Amortisation     OHP Ore Handling Plant
EE Employment Equity     OMS Opportunity Management System
Enercore Enercore Projects Limited     O&M Operations & Maintenance
EPC Engineering, Procurement and Construction     Order Book Confirmed and signed project orders
EPCM Engineering, Procurement, Construction and Management     Order Book Pipeline Tenders, budgets, feasibilities and prequalifications the Group is currently working on (excluding Near Orders). It also includes opportunities which are being tracked and are expected to come to the market in the next 36 months
EPS Earnings Per Share     PNG Papua New Guinea
EU European Union     PPE Property, Plant and Equipment
FCF Free Cash Flow     PPP Public Private Partnership
FD Financial director     RAP Reconciliation Action Plan
FIDIC Fédération Internationale Des Ingénieurs-Conseils     REIPPP Renewable Energy Independent Power Producer Procurement
FSP Forfeitable Share Plan     ROE Return on Equity
FY2017 For the year ended 30 June 2017     ROICE Return on Invested Capital Employed
FY2018 For the year ended 30 June 2018     RONA Return on Net Assets
FY2019 For the year ended 30 June 2019     SA South Africa
FY2020 For the year ended 30 June 2020     SADC Southern African Development Community
GCR Mongolia Joint venture between Clough, RUC Cementation Mining and Gobi Infrastructure Partners     Share Option Scheme Murray & Roberts Holdings Limited Employee Share Incentive Scheme
GPMOF Gorgon Pioneer Materials Offloading Facility     SMEIPP Structural, Mechanical, Electrical, Instrumentation, Platework & Piping
Greenfield New, undeveloped property where there is no need to work within the constraints of existing buildings or infrastructure     SPV Special Purpose Vehicle
GRI Global Reporting Initiative     STI Short-term incentives
Group Murray & Roberts Holdings and its subsidiaries     TFCE Total Fixed Cost of Employment
HEPS Headline Earnings per Share     TNT Terra Nova Technologies
HDSA Historically Disadvantaged South Africans     TRCR Total Recordable Case Rate
HUC Hook-up and commissioning     TRIR Total Recordable Incident Rate
HSE Health, Safety and Environment     TSR Total Shareholder Return
IFRS International Financial Reporting Standards     USA United States of America
Independent Board Independent Board constituted to respond to the offer by ATON     VFL Visible Felt Leadership
IPP Independent Power Producers     Vulindlela Letsema Vulindlela Black Executives Trust
IRBA Independent Regulatory Board for Auditors     WACC Weighted Average Cost of Capital