SEGMENTAL ANALYSIS

BUSINESS SEGMENT ANALYSIS

Rmillion  Revenue  Operating
Profit		 Total
Assets		 Total
Liabilities		 * Capital
Employed		 Capital
Expenditure		 Depreciation 
                 
2016                 
Sugar      24 530  2 239   22 527  813  492 
Zimbabwe  3 549  15             
Swaziland  205  40             
Mozambique  1 664  74             
South Africa  5 964  (5)            
Sugar operations - total  11 382  124  24 530  2 239   22 527  813  492 
Starch operations  3 640  658  2 134  737   1 390  249  93 
Land Conversion and Developments  1 654  1 115  3 845  1 076   2 683  1  1 
Centrally accounted and consolidation items    (70) 320  7 649   235  59  1 
BEE IFRS 2 charge and transaction costs    (19)   605        
Consolidated total  16 676  1 808  30 829  12 306   26 835  1 122  587 
                 
2015                 
Sugar      21 879  1 900   20 245  557  473 
Zimbabwe  3 471  386             
Swaziland  203  29             
Mozambique  1 804  130             
South Africa  6 143  261             
Sugar operations - total  11 621  806  21 879  1 900   20 245  557  473 
Starch operations  3 447  561  1 789  599   1 151  91  89 
Land Conversion and Developments  1 087  829  2 593  823   1 727  1  1 
Centrally accounted and consolidation items    (86) 282  6 254   201  83  1 
BEE IFRS 2 charge and transaction costs    (21)   654        
Consolidated total  16 155  2 089  26 543  10 230   23 324  732  564 
                 

GEOGRAPHICAL ANALYSIS OF REVENUE
Rmillion  2016  2015             
                 
South Africa, Mozambique and Zimbabwe  14 337  12 947             
Europe  1 392  1 592             
Rest of Africa  569  1 047             
Australasia  255  275             
Asia and other  96  264             
North America  27  30             
  16 676  16 155             

The aggregate effect of intra-group transactions is immaterial.

Geographical location of non-current assets: South Africa R5 800 million; other countries R14 906 million (2015: South Africa R4 971 million; other countries R13 546 million).

* Total liabilities comprise segment liabilities of R12 306 million, deferred tax of R2 896 million and tax of R97 million (2015: Total liabilities comprise segment liabilities of R10 230 million, deferred tax of R2 491 million and tax of R46 million).
Detailed below is a revenue and cost analysis of the Zimbabwe, Mozambique and South Africa sugar operations which is provided in the respective currencies of each country.
     

2016
US$ million

2015
US$ million 

2014
US$ million 

2013
US$ million 
Zimbabwe     
Revenue      257  314  286  380 
Sugar sales      233  292  260  360 
Other activities      24  22  26  20 
Sugar stock movement      6  (28) 35  10 
Revenue adjusted for stock movements      263  286  321  390 
Less costs              
Payments for third party cane  58  70  76  92 
Goods/services/transport/marketing, salaries/wages  141  135  146  186 
Offcrop costs carried in      20  14  20  16 
Depreciation/amortisation      16  17  19  19 
Profit before root planting costs and cane valuations  28  50  60  77 
Root replant costs    (23) (21) (3) (12)
Cane valuations - income statement effect    (4) 6  (24) 9 
Operating profit      1  35  33  74 
Raw sugar production (tons)     412 000  445 000  488 000  475 000 
Sugar sales (tons)     403 000  491 000  426 000  456 000 
             
     

2016
Metical million

2015
Metical million

2014
Metical million

2013
Metical million
Mozambique     
Revenue      4 790  5 171  5 035  5 644 
Sugar sales      4 405  4 943  4 857  5 452 
Other activities      385  228  178  192 
Less costs              
Payments for third party cane  363  402  318  350 
Goods/services/transport/marketing, salaries/wages  2 948  2 887  2 785  3 052 
Offcrop costs carried in      542  429  466  421 
Depreciation/amortisation      520  522  495  442 
Profit before root planting costs and cane valuations  417  931  971  1 379 
Root replant costs    (600) (313) (167) (339)
Cane valuations - income statement effect    397  (245) (308) 368 
Operating profit      214  373  496  1 408 
Raw sugar production/sales (tons)     232 000  271 000  249 000  235 000 
             
     

2016
Rand million

2015
Rand million

2014
Rand million

2013
Rand million
South Africa Sugar
(including downstream activities)		    
           
Revenue *      4 279  5 229  5 265  4 467 
Sugar sales      3 285  4 138  4 206  3 554 
Other activities      994  1 091  1 059  913 
Less costs              
Payments for third party cane/SASA levies  1 631  2 102  2 194  1 809 
Goods/services/transport/marketing, salaries/wages  2 475  2 658  2 558  2 325 
Offcrop costs carried in      169  139  182  131 
Depreciation/amortisation      93  101  125  85 
Profit before root planting costs and cane valuations  (89) 229  206  117 
Root replant costs    (58) (94) (44) (74)
Cane valuations - income statement effect    142  126  178  265 
Operating profit      (5) 261  340  308 
Raw sugar production (tons)     323 000  541 000  634 000  486 000 

* Revenue net of industry redistribution/sugar purchases
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