| 11.5 | Land and buildings and plant and machinery having a book value of R1 158,0 million (2014: R1 323,3 million), are
mortgaged/pledged as security for long-term loans of R397,4 million (2014: R721,8 million) included in note 31.1 and capitalised finance leases of R5,2 million (2014: R7,0 million) as per note 31.3.
The fair value of property, plant and equipment is not materially different from the cost. |
|
Freehold land and buildings |
Leasehold land and buildings |
Plant, vehicles and equipment |
Capitalised leased assets |
Total | ||||
| 11.6 | Movement of the group property, plant and equipment | ||||||||
| 2015 | |||||||||
| Net balance at the beginning of the year | 1 165,4 | 520,7 | 4 170,5 | 11,0 | 5 867,6 | ||||
| Additions | 98,2 | 16,2 | 766,7 | 0,5 | 881,6 | ||||
| 1 263,6 | 536,9 | 4 937,2 | 11,5 | 6 749,2 | |||||
| Disposals | (3,6) | – | (60,5) | (1,3) | (65,4) | ||||
| Depreciation | (48,7) | (15,3) | (595,3) | (2,8) | (662,1) | ||||
| Impairment | – | – | (1 410,9) | – | (1 410,9) | ||||
| Exchange rate translation difference | – | 38,4 | (6,8) | (1,2) | 30,4 | ||||
| Net balance at the end of the year | 1 211,3 | 560,0 | 2 863,7 | 6,2 | 4 641,2 | ||||
| 2014 | |||||||||
| Net balance at the beginning of the year | 1 061,1 | 491,6 | 3 931,5 | 14,5 | 5 498,7 | ||||
| Additions | 145,6 | 14,2 | 823,1 | – | 982,9 | ||||
| 1 206,7 | 505,8 | 4 754,6 | 14,5 | 6 481,6 | |||||
| Disposals | – | – | (5,9) | – | (5,9) | ||||
| Depreciation | (43,8) | (14,3) | (617,5) | (3,5) | (679,1) | ||||
| Impairment | (3,8) | (12,1) | (129,4) | – | (145,3) | ||||
| Exchange rate translation difference | 6,3 | 41,3 | 168,7 | – | 216,3 | ||||
| Net balance at the end of the year | 1 165,4 | 520,7 | 4 170,5 | 11,0 | 5 867,6 |
| The impairment charge of R1,4 billion mainly relates to the Nigeria segment. Impairment of property, plant and equipment was largely as a result of an assessment of the value in use of certain production lines within this segment. Refer to key valuation assumptions detailed in note 13. The remaining impairment charge of R39,8 million is as a result of the various efficiency improvement initiatives which were concluded in the current year, which is further detailed in note 13. No borrowing costs relating to plant were capitalised during the year. |