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SEGMENTAL ANALYSIS

30 June 2010

  All monetary amounts are expressed             Discontinued   Corporate and  
  in millions of Rands   Group   operations1   Investments  
      2010     2009     2010     2009     2010     2009  
  SUMMARISED STATEMENT OF FINANCIAL PERFORMANCE                                    
  Revenue   31 962     32 684     545     2 684     1 054     1 006  
  Earnings before exceptional items and interest   1 775     2 766     5     219     (52)     –  
  Exceptional items   101     8     –     –     97     20  
  Earnings before interest and taxation   1 876     2 774     5     219     45     20  
  Net interest (expense)/income   (193)     (20)     (3)     (37)     (6)     (65)  
  Earnings before taxation   1 683     2 754     2     182     39     (45)  
  Taxation   (470)     (612)     –     12     12     (30)  
  Earnings after taxation   1 213     2 142     2     194     51     (75)  
  Income from equity accounted investments   14     2     –     –     8     –  
  Profit from discontinued operations   2     194     –     –     –     –  
  Non-controlling interest   (131)     (320)     –     –     18     –  
  Earnings attributable to owners of the parent   1 098     2 018     2     194     77     (75)  
  SUMMARISED STATEMENT OF FINANCIAL POSITION                                    
  Non-current assets   5 611     5 769     –     250     884     1 100  
  Current assets2   15 787     17 235     653     2 411     1 990     2 207  
  Goodwill   554     490     –     –     –     –  
  Total assets   21 952     23 494     653     2 661     2 874     3 307  
  Equity   6 203     5 581     270     1 030     (360)     (545)  
  Non-controlling interest   974     1 053     165     342     (23)     (3)  
  Permanent capital   7 177     6 634     435     1 372     (383)     (548)  
  Non-current liabilities   2 383     1 447     –     49     924     601  
  Current liabilities2   12 392     15 413     218     1 240     2 333     3 254  
  Total equity and liabilities   21 952     23 494     653     2 661     2 874     3 307  
  SUMMARISED STATEMENT OF CASH FLOWS                                    
  Cash generated by operations before working capital changes   2 382     3 928     84     276     (141)     (69)  
  Property activities   (47)     (25)     –     –     (47)     (25)  
  Change in working capital   (931)     (1 290)     50     (47)     (168)     (217)  
  Cash generated by operations   1 404     2 613     134     229     (356)     (311)  
  Interest and taxation   (713)     (1 054)     (7)     (37)     8     (212)  
  Operating cash flow   691     1 559     127     192     (348)     (523)  
  FINANCIAL STATISTICS                                    
  Operating margin (%)   5,6     8,5     0,9     8,2     –     –  
  Return on equity (%)   18,6     38,6     0,3     21,9     –     –  

1
 Consists of Johnson Arabia LLC, BRC Arabia FZC and BRC Arabia LLC. Prior year includes PT Petrosea.
2
 Includes assets/liabilities classified as held-for-sale.

                              Construction  
      Construction     Engineering     Products  
      SADC3     SADC     SADC  
      2010     2009     2010     2009     2010     2009  
  SUMMARISED STATEMENT OF FINANCIAL PERFORMANCE                                    
  Revenue   7 991     9 114     1 884     2 692     7 053     6 167  
  Earnings before exceptional items and interest   (37)     524     112     447     611     675  
  Exceptional items   4     –     –     –     –     (12)  
  Earnings before interest and taxation   (33)     524     112     447     611     663  
  Net interest (expense)/income   61     197     26     71     (265)     (193)  
  Earnings before taxation   28     721     138     518     346     470  
  Taxation   (134)     (203)     (80)     (110)     (82)     (109)  
  Earnings after taxation   (106)     518     58     408     264     361  
  Income from equity accounted investments   3     1     –     –     –     –  
  Profit from discontinued operations   –     –     –     –     2     (67)  
  Non-controlling interest   (1)     (4)     20     (42)     (31)     (24)  
  Earnings attributable to owners of the parent   (104)     515     78     366     235     270  
  SUMMARISED STATEMENT OF FINANCIAL POSITION                                    
  Non-current assets   761     927     532     424     1 419     1 306  
  Current assets2   3 422     3 115     701     1 076     2 091     2 252  
  Goodwill   44     44     52     52     76     62  
  Total assets   4 227     4 086     1 285     1 552     3 586     3 620  
  Equity   741     438     211     (24)     2 450     2 533  
  Non-controlling interest   2     1     –     20     69     24  
  Permanent capital   743     439     211     (4)     2 519     2 557  
  Non-current liabilities   401     211     447     (33)     138     73  
  Current liabilities2   3 083     3 436     627     1 589     929     990  
  Total equity and liabilities   4 227     4 086     1 285     1 552     3 586     3 620  
  SUMMARISED STATEMENT OF CASH FLOWS                                    
  Cash generated by operations before working capital changes   149     805     139     494     668     781  
  Property activities   –     –     –     –     –     –  
  Change in working capital   (1 003)     (675)     (272)     (64)     365     (727)  
  Cash generated by operations   (854)     130     (133)     430     1 033     54  
  Interest and taxation   (208)     (22)     12     (109)     (314)     (342)  
  Operating cash flow   (1 062)     108     (121)     321     719     (288)  
  FINANCIAL STATISTICS                                    
  Operating margin (%)   –     5,7     5,9     16,6     8,7     10,9  
  Return on equity (%)   –     150,5     83,4     132,6     9,4     14,2  

      Middle East   Cementation Group   Clough  
      2010     2009     2010     2009     2010     2009  
  SUMMARISED STATEMENT OF FINANCIAL PERFORMANCE                                    
  Revenue   2 882     3 558     5 345     5 962     5 753     4 185  
  Earnings before exceptional items and interest   300     350     447     428     394     342  
  Exceptional items   –     –     –     –     –     –  
  Earnings before interest and taxation   300     350     447     428     394     342  
  Net interest (expense)/income   11     18     (7)     (17)     (13)     (31)  
  Earnings before taxation   311     368     440     411     381     311  
  Taxation   (1)     –     (136)     (141)     (49)     (19)  
  Earnings after taxation   310     368     304     270     332     292  
  Income from equity accounted investments   –     –     –     –     3     1  
  Profit from discontinued operations   –     182     –     –     –     79  
  Non-controlling interest   –     (68)     –     (33)     (137)     (149)  
  Earnings attributable to owners of the parent   310     482     304     237     198     223  
  SUMMARISED STATEMENT OF FINANCIAL POSITION                                    
  Non-current assets   11     15     698     693     1 306     1 054  
  Current assets2   3 434     3 158     1 567     1 310     1 929     1 706  
  Goodwill   –     –     35     35     347     297  
  Total assets   3 445     3 173     2 300     2 038     3 582     3 057  
  Equity   455     520     890     885     1 546     744  
  Non-controlling interest   –     –     4     79     757     590  
  Permanent capital   455     520     894     964     2 303     1 334  
  Non-current liabilities   90     131     201     59     182     356  
  Current liabilities2   2 900     2 522     1 205     1 015     1 097     1 367  
  Total equity and liabilities   3 445     3 173     2 300     2 038     3 582     3 057  
  SUMMARISED STATEMENT OF CASH FLOWS                                    
  Cash generated by operations before working capital changes   313     417     705     717     465     507  
  Property activities   –     –     –     –     –     –  
  Change in working capital   (161)     852     (95)     57     353     (469)  
  Cash generated by operations   152     1 269     610     774     818     38  
  Interest and taxation   15     18     (112)     (230)     (108)     (120)  
  Operating cash flow   167     1 287     498     544     710     (82)  
  FINANCIAL STATISTICS                                    
  Operating margin (%)   10,4     9,8     8,4     7,2     6,9     8,2  
  Return on equity (%)   63,6     53,6     34,3     28,7     17,3     27,7  

3 If the operating loss from Gautrain of R619 million were to be excluded, Construction SADC would have an operating margin of 7,2% and return on equity of 57% in the 2010 financial year.

 
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