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| Currently viewing: Five-year review | Next: Overview |
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Five-year review
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| Financial information |
December
2006 |
December
2005*# |
March
2005* |
March
2004* |
March
2003 |
| Income statement – extracts (Rm) |
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| Revenue |
51 595 |
27 212 |
28 994 |
23 871 |
19 405 |
| EBITDA |
22 413 |
11 231 |
12 000 |
9 055 |
6 126 |
| Profit from operations |
16 094 |
8 478 |
8 998 |
6 679 |
4 242 |
| Net finance costs |
(1 427) |
(373) |
(270) |
(604) |
(833) |
| Income tax expense |
(2 591) |
(1 411) |
(1 494) |
(1 101) |
(687) |
| Minority interests |
(1 489) |
(838) |
(895) |
(612) |
(289) |
| Attributable earnings |
10 610 |
5 866 |
6 357 |
4 371 |
2 434 |
| Basic headline earnings |
10 628 |
5 984 |
6 339 |
4 370 |
2 483 |
| Balance sheet – extracts (Rm) |
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| Property, plant and equipment |
30 647 |
20 676 |
15 787 |
10 904 |
9 374 |
| Goodwill |
27 017 |
2 650 |
33 |
33 |
19 |
| Intangible assets |
13 088 |
4 057 |
1 846 |
1 784 |
2 263 |
| Investments and loans |
2 925 |
2 367 |
667 |
560 |
734 |
| Deferred taxation |
2 605 |
1 386 |
818 |
356 |
173 |
| Bank balances, deposits and cash |
10 091 |
7 560 |
6 429 |
5 336 |
2 128 |
| Other current assets |
10 544 |
6 116 |
4 150 |
3 307 |
3 186 |
| Total assets |
96 917 |
44 812 |
29 730 |
22 280 |
17 877 |
| Ordinary shareholders’ interest |
38 696 |
19 716 |
16 083 |
10 128 |
6 784 |
| Minority interests |
4 033 |
3 380 |
2 333 |
1 418 |
882 |
| Interest-bearing liabilities |
32 979 |
8 605 |
3 240 |
4 149 |
4 835 |
| Non-interest-bearing liabilities |
18 431 |
12 258 |
7 378 |
5 919 |
4 569 |
| Deferred taxation |
2 778 |
853 |
696 |
666 |
807 |
| Total liabilities |
54 188 |
21 716 |
11 314 |
10 734 |
10 211 |
| Total equity and liabilities |
96 917 |
44 812 |
29 730 |
22 280 |
17 877 |
| Cash flow statement – extracts (Rm) |
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| Net cash flow from operations |
22 934 |
11 367 |
12 303 |
10 027 |
6 813 |
| Cash inflows from operating activities |
17 622 |
9 159 |
9 501 |
8 597 |
5 393 |
| Cash outflows for investing activities |
(38 606) |
(12 920) |
(7 551) |
(4 898) |
(4 391) |
| Cash inflows from financing activities |
18 993 |
5 357 |
222 |
233 |
187 |
| Cash and cash equivalents |
9 008 |
7 164 |
5 772 |
5 231 |
1 931 |
| Dividends paid |
(1 083) |
(1 081) |
(680) |
-- |
-- |
| Capital expenditure |
9 796 |
6 732 |
7 576 |
5 048 |
3 918 |
| Performance per ordinary share |
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| Basic headline earnings (cents) |
606,5 |
359,8 |
382,0 |
263,7 |
150,6 |
| Adjusted headline earnings (cents) |
584,7 |
338,2 |
366,0 |
253,1 |
143,3 |
| Attributable earnings (cents) |
605,4 |
352,7 |
383,0 |
253,1 |
147,6 |
| Dividends (cents) |
65 |
65 |
41 |
-- |
-- |
| Net asset value – book value (rand)(1) |
20,80 |
11,84 |
9,67 |
6,11 |
4,11 |
| Returns and profitability ratios |
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| Return on assets (%)(2)*** |
22,7 |
30,33 |
34,6 |
33,3 |
24,6 |
| Return on average shareholders’ funds (%)(3)*** |
36,4 |
44,57 |
48,4 |
51,7 |
41,7 |
| EBITDA margin (%) |
43,4 |
41,3 |
41,4 |
37,9 |
31,6 |
| Enterprise value/EBITDA multiple (times)(4)*** |
8,3 |
7,2 |
6,0 |
6,1 |
3,8 |
| Effective taxation rate (%) |
17,6 |
17,4 |
17,1 |
18,1 |
20,1 |
| Solvency and liquidity ratios |
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| Gearing (%)(5) |
53,6 |
4,5 |
(17,3) |
(10,3) |
35,4 |
| Interest cover (times)(6) |
4,9 |
10,7 |
15,3 |
8,9 |
4,4 |
| Dividend cover (times)(7) |
5,2 |
5,2 |
5,6 |
6,2 |
n/a |
| Net debt to EBITDA(8)*** |
1,0 |
0,1 |
(0,3) |
(0,1) |
0,4 |
| Operating cash flow/revenue (%) |
44,5 |
41,8 |
42,4 |
42,0 |
35,1 |
| Share performance |
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| Number of ordinary shares in issue (million) |
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| – at year-end |
1 860,3 |
1 665,3 |
1 662,5 |
1 658,8 |
1 652,1 |
| – weighted average during the year |
1 752,3 |
1 663,2 |
1 659,7 |
1 654,4 |
1 646,9 |
| Closing price (cents per share) |
8 530 |
6 215 |
4 400 |
3 296 |
1 198 |
| Market capitalisation (Rm) |
158 684 |
103 498 |
73 150 |
54 674 |
19 792 |
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| Operational information |
2006
December |
2005
December |
2005
March |
2004
March |
2003
March |
| South africa |
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| Mobile penetration (%) |
74 |
62 |
44 |
36 |
39 |
| Market share (%) |
36 |
35 |
38 |
38 |
38 |
| Subscribers (million) |
12 |
10 |
8 |
6 |
5 |
| ARPU (rand) |
164 |
169 |
184 |
203 |
206 |
| EBITDA margin (%) |
34 |
32 |
34 |
30 |
28 |
| Capex/sales (%) |
9 |
15 |
10 |
7 |
8 |
| Nigeria |
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| Mobile penetration (%) |
19 |
13 |
7 |
3 |
1 |
| Market share (%) |
46 |
47 |
47 |
48 |
59 |
| Subscribers (million) |
12 |
8 |
6 |
2 |
1 |
| ARPU (US$) |
18 |
22 |
40 |
51 |
57 |
| EBITDA margin (%) |
57 |
52 |
52 |
51 |
39 |
| Capex/sales (%) |
24 |
43 |
59 |
49 |
48 |
| Ghana** |
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| Mobile penetration (%) |
22 |
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| Market share (%) |
52 |
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| Subscribers (000) |
2 585 |
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| ARPU (US$) |
17 |
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| EBITDA margin (%) |
52 |
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| Capex/sales (%) |
28 |
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| Sudan** |
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| Mobile penetration (%) |
12 |
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| Market share (%) |
25 |
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| Subscribers (000) |
1 066 |
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| ARPU (US$) |
16 |
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| EBITDA margin (%) |
17 |
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| Capex/sales (%) |
74 |
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| Iran |
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| Mobile penetration (%) |
20 |
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| Market share (%) |
1 |
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| Subscribers (000) |
154 |
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| ARPU (US$) |
9 |
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| EBITDA margin (%) |
(75) |
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| Capex/sales (%) |
1 003 |
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| Definitions |
| (1) |
Ordinary shareholders’ interest divided by the number of ordinary shares in issue at year-end |
| (2) |
Profit after taxation as a percentage of the average of the opening and closing balances of total assets |
| (3) |
Headline earnings as a percentage of the average of the opening and closing balances of ordinary
shareholders’ interest |
| (4) |
Market capitalisation less net debt (interest-bearing liabilities less bank balances, deposits and cash)
divided by EBITDA |
| (5) |
Net debt as a percentage of total equity |
| (6) |
Profit from operations divided by finance costs |
| (7) |
Headline earnings divided by total dividend |
| (8) |
Interest-bearing liabilities less cash, divided by EBITDA |
| (9) |
Subscribers based on 90-day activity from March 2005 onwards |
| (10) |
ARPU based on 90-day activity for December 2006 |
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*
**
***
# |
restated to comply with IFRS
included from date of acquisition
annualised
nine months to 31 December 2005 ended |
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