Segment report
for the year ended 30 September 2017
| Revenue1 | Operating income2 | Depreciation and amortisation | ||||||||||||||
| (R'million) | 2017 | Restated 2016 |
* | 2017 | Restated 2016 |
2017 | Restated 2016 |
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Domestic operations | 27 109,0 | 26 160,1 | 4 235,5 | 3 695,8 | 483,1 | 448,3 | ||||||||||
| Grains | 13 309,4 | 12 724,8 | 2 361,2 | 2 001,9 | 150,5 | 152,8 | ||||||||||
| Milling and baking3 | 9 519,7 | 9 161,1 | 1 858,9 | 1 596,2 | 129,0 | 130,6 | ||||||||||
| Other Grains4 | 3 789,7 | 3 563,7 | 502,3 | 405,7 | 21,5 | 22,2 | ||||||||||
| Consumer Brands – Foods | 13 799,6 | 13 435,3 | 1 902,8 | 1 728,5 | 267,6 | 240,2 | ||||||||||
| Groceries | 5 008,4 | 4 698,7 | 588,6 | 465,6 | 122,6 | 116,6 | ||||||||||
| Snacks & Treats | 2 157,2 | 2 263,0 | 323,5 | 316,0 | 49,7 | 49,3 | ||||||||||
| Beverages | 1 203,6 | 1 321,3 | 144,0 | 156,8 | 26,0 | 18,4 | ||||||||||
| Value Added Meat Products | 2 243,1 | 2 215,0 | 104,2 | 158,0 | 37,1 | 35,0 | ||||||||||
| Out of Home | 535,7 | 501,7 | 119,9 | 98,4 | – | – | ||||||||||
| Home, Personal Care and Baby (HPCB) | 2 651,6 | 2 435,6 | 622,6 | 533,7 | 32,2 | 20,9 | ||||||||||
| Personal Care | 682,5 | 682,4 | 138,6 | 134,2 | 13,2 | 4,4 | ||||||||||
| Baby Care | 888,0 | 862,1 | 207,7 | 211,3 | 11,1 | 11,1 | ||||||||||
| Home Care | 1 081,1 | 891,1 | 276,3 | 188,2 | 7,9 | 5,4 | ||||||||||
| Other5 | – | – | (28,5) | (34,6) | 65,0 | 55,3 | ||||||||||
| Exports and International | 4 188,9 | 4 428,1 | 398,8 | 496,3 | 80,8 | 87,8 | ||||||||||
| Exports | 1 747,3 | 1 625,7 | 272,9 | 247,0 | 16,7 | 16,9 | ||||||||||
| International operations – Central Africa (Chococam) | 821,3 | 883,8 | 147,2 | 150,2 | 19,5 | 21,8 | ||||||||||
| International operations – West Africa (Deli Foods) | 280,3 | 476,7 | (34,5) | (48,5) | 21,4 | 25,4 | ||||||||||
| Deciduous Fruit (LAF) | 1 620,1 | 1 683,3 | 13,2 | 147,6 | 23,2 | 23,7 | ||||||||||
| Other intergroup sales | (280,1) | (241,4) | – | – | – | – | ||||||||||
| Total from continuing operations – before IFRS 2 charges | 31 297,9 | 30 588,2 | 4 634,3 | 4 192,1 | 563,9 | 536,1 | ||||||||||
| IFRS 2 charges | – | – | (110,3) | (88,9) | – | – | ||||||||||
| Total from continuing operations – after IFRS 2 charges | 31 297,9 | 30 588,2 | 4 524,0 | 4 103,2 | 563,9 | 536,1 | ||||||||||
| Discontinued operations – East Africa** and TBCG | 561,2 | 2 556,8 | 14,0 | 114,1 | 9,9 | 39,4 | ||||||||||
| Total group | 31 859,1 | 33 145,0 | 4 538,0 | 4 217,3 | 573,8 | 575,5 | ||||||||||
* Restated for the early adoption of IFRS 15 Revenue from Contracts with Customers. Refer to note 6.
** Previously reported “International Operations – East Africa” segment has now been classified as discontinued operations.
1 Refer to note 2.1 of the financial statements for further information on geographical split.
2 Operating income is stated after amortisation of intangible assets.
3 Comprises maize milling, wheat milling and baking, sorghum beverages and malt-based breakfast cereals.
4 Comprises rice, pasta and oat-based breakfast cereals.
5 Includes the corporate office and management expenses relating to international investments.
All segments operate on an arm’s length basis in relation to inter-segment pricing.
| Total assets | Accounts payable, provisions and accruals and taxation |
Capital expenditure | |||||||||||||
| (R'million) | 2017 | 2016 | 2017 | 2016 | 2017 | 2016 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Domestic operations | 19 193,4 | 19 056,9 | 4 259,9 | 4 082,4 | 836,0 | 847,0 | |||||||||
| Grains | 5 100,7 | 5 550,3 | 1 628,4 | 1 429,7 | 480,3 | 346,7 | |||||||||
| Milling and baking1 | 3 570,1 | 3 867,6 | 1 056,6 | 931,1 | 421,6 | 329,9 | |||||||||
| Other Grains2 | 1 530,6 | 1 682,7 | 571,8 | 498,6 | 58,7 | 16,8 | |||||||||
| Consumer Brands | 9 195,6 | 9 509,2 | 2 037,1 | 2 276,8 | 279,7 | 439,0 | |||||||||
| Groceries | 4 440,9 | 4 304,4 | 835,3 | 880,4 | 140,5 | 127,4 | |||||||||
| Snacks & Treats | 1 080,2 | 1 384,1 | 317,3 | 423,2 | 24,4 | 78,6 | |||||||||
| Beverages | 1 407,8 | 1 483,5 | 141,7 | 237,6 | 29,0 | 67,5 | |||||||||
| Value Added Meat Products | 832,4 | 975,7 | 276,6 | 282,5 | 40,3 | 33,2 | |||||||||
| Home, Personal Care and Baby (HPCB) | 1 434,3 | 1 361,5 | 466,2 | 453,1 | 45,5 | 132,3 | |||||||||
| Other3 | 4 897,1 | 3 997,4 | 594,4 | 375,9 | 76,0 | 61,3 | |||||||||
| Exports and International | 4 377,1 | 5 429,4 | 727,6 | 728,1 | 64,4 | 98,4 | |||||||||
| Exports | 2 383,1 | 2 535,4 | 198,6 | 119,3 | 2,8 | (8,3) | |||||||||
| International operations – Central Africa (Chococam) | 713,4 | 648,8 | 255,3 | 227,5 | 8,6 | 21,6 | |||||||||
| International operations – West Africa (Deli Foods) | 133,3 | 146,4 | 44,6 | 54,7 | 7,4 | 20,8 | |||||||||
| International operations – East Africa | – | 854,0 | – | 82,4 | – | 27,7 | |||||||||
| Deciduous Fruit (LAF) | 1 147,3 | 1 244,8 | 229,1 | 244,2 | 45,6 | 36,6 | |||||||||
| International operations – East Africa (held for sale)* | 364,7 | – | 101,2 | – | 18,6 | – | |||||||||
| Total | 23 935,2 | 24 486,3 | 5 088,7 | 4 810,5 | 919,0 | 945,4 | |||||||||
* As required by IFRS 5 in relation to the treatment of Haco Tiger Brands (E.A.) Limited (Haco) as held for sale in the current year.
1 Comprises maize milling, wheat milling and baking, sorghum beverages and malt-based breakfast cereals.
2 Comprises rice, pasta and oat-based breakfast cereals.
3 Includes the corporate office.
| (R'million) | 2017 | 2016 | ||
|---|---|---|---|---|
| Split of non-current assets | ||||
| South Africa | 6 220,2 | 5 898,5 | ||
| Outside South Africa | 1 965,2 | 2 583,9 | ||
| Total | 8 185,4 | 8 482,4 | ||
| Reconciliation of total assets | ||||
| Total assets per statement of financial position | 23 979,2 | 24 528,9 | ||
| Deferred taxation asset | (44,0) | (42,6) | ||
| 23 935,2 | 24 486,3 |