Financial history
| |
23-year
compound
growth rates
% per annum(1) |
10-year
compound
growth rates
% per annum |
2014 |
|
2013 |
| Extract from financial statements (R’m) |
|
|
|
|
|
|
Turnover |
32,0 |
13,6 |
183 645 |
|
153 405 |
|
Trading profit |
28,6 |
13,4 |
8 946 |
|
7 675 |
|
Net finance charges |
|
|
(1 048) |
|
(765) |
|
Attributable profit |
29,0 |
11,6 |
4 603 |
|
4 772 |
|
Shareholders’ interest |
|
|
31 781 |
|
26 374 |
|
Total assets |
28,6 |
16,2 |
80 975 |
|
66 678 |
|
Net debt |
|
|
7 917 |
|
4 547 |
|
Funds employed |
|
|
28 522 |
|
22 717 |
|
Cash generated by operations |
31,9 |
10,5 |
10 207 |
|
7 367 |
|
Wealth created by trading operations |
30,0 |
12,6 |
33 582 |
|
28 447 |
|
Employee benefits and remuneration |
|
|
21 436 |
|
16 654 |
| Share statistics |
|
|
|
|
|
|
Headline earnings per share (cents)(2) |
21,1 |
12,3 |
1 733,9 |
|
1 560,6 |
|
Distribution per share (cents)(3) |
21,5 |
12,8 |
834,1 |
|
720,0 |
|
Distribution cover (times)(3) |
|
|
2,1 |
|
2,2 |
|
Distribution yield (%) |
|
|
3,0 |
|
2,9 |
|
Earnings yield (%) |
|
|
6,1 |
|
6,4 |
|
Net tangible asset value per share (cents) |
19,7 |
15,8 |
5 773 |
|
5 260 |
| Share price (cents) |
|
|
|
|
|
|
high |
|
|
29 800 |
|
26 190 |
|
low |
|
|
23 601 |
|
18 016 |
|
closing (June 30) |
23,3 |
18,3 |
28 258 |
|
24 495 |
|
Market capitalisation (R’m)(4) |
30,2 |
18,5 |
90 119 |
|
76 805 |
|
Volumes traded (’000) |
|
|
201 044 |
|
181 218 |
|
Volumes traded as % of weighted number of shares |
|
|
63,8 |
|
58,0 |
| Ratios and statistics |
|
|
|
|
|
|
Return on total shareholders’ interest (%) |
|
|
17,5 |
|
22,1 |
|
Return on average funds employed (%)(5) |
|
|
34,9 |
|
37,3 |
|
Trading profit margin (%) |
|
|
4,9 |
|
5,0 |
|
Interest cover(8) |
|
|
8,5 |
|
10,0 |
|
Debt:equity ratio (%)(7) |
|
|
24,9 |
|
17,2 |
|
Current asset ratio |
|
|
1,1 |
|
1,3 |
|
Quick asset ratio |
|
|
0,7 |
|
0,7 |
|
Number of employees |
|
|
143 828 |
|
106 371 |
|
Revenue per employee (R’000) |
|
|
1 276,8 |
|
1 442,2 |
|
Value added per employee (R’000) |
|
|
233,5 |
|
267,4 |
|
Number of shares in issue (’000)(6) |
|
|
318 916 |
|
313 555 |
|
Number of weighted shares in issue (’000)(6) |
|
|
314 873 |
|
312 577 |
| Exchange rate comparisons |
|
|
|
|
|
| Rand/sterling |
|
|
|
|
|
|
Closing rate |
|
|
18,07 |
|
15,05 |
|
Average rate |
|
|
16,91 |
|
13,87 |
| Rand/euro |
|
|
|
|
|
|
Closing rate |
|
|
14,47 |
|
13,13 |
|
Average rate |
|
|
14,11 |
|
11,46 |
| Rand/Australian dollar |
|
|
|
|
|
|
Closing rate |
|
|
10,00 |
|
9,05 |
|
Average rate |
|
|
9,54 |
|
9,08 |
| |
2012 |
2011 |
2010 |
2009 |
2008 |
2007 |
2006 |
2005 |
| Extract from financial statements (R’m) |
|
|
|
|
|
|
|
|
|
Turnover |
133 534 |
118 483 |
109 789 |
112 428 |
110 478 |
95 656 |
77 276 |
62 812 |
|
Trading profit |
7 014 |
6 124 |
5 555 |
5 137 |
5 335 |
4 547 |
3 657 |
3 046 |
|
Net finance charges |
(785) |
(644) |
(758) |
(1 029) |
(931) |
(566) |
(342) |
(285) |
|
Attributable profit |
4 443 |
3 539 |
3 345 |
2 802 |
3 253 |
2 700 |
2 389 |
1 961 |
|
Shareholders’ interest |
21 630 |
17 669 |
16 737 |
13 929 |
13 468 |
10 627 |
8 929 |
7 469 |
|
Total assets |
55 895 |
47 830 |
43 345 |
38 484 |
41 861 |
32 848 |
27 995 |
21 123 |
|
Net debt |
3 615 |
5 030 |
3 863 |
4 072 |
5 547 |
3 764 |
1 452 |
989 |
|
Funds employed |
18 404 |
16 779 |
15 213 |
13 924 |
14 503 |
10 663 |
7 456 |
6 093 |
|
Cash generated by operations |
8 942 |
8 163 |
7 984 |
6 749 |
6 087 |
4 237 |
4 490 |
4 200 |
|
Wealth created by trading operations |
26 093 |
22 524 |
21 465 |
20 708 |
19 595 |
16 777 |
14 049 |
11 955 |
|
Employee benefits and remuneration |
15 000 |
13 308 |
12 779 |
12 817 |
11 701 |
9 967 |
8 311 |
7 304 |
|
Share statistics |
|
|
|
|
|
|
|
|
|
Headline earnings per share (cents)(2) |
1 474,2 |
1 157,4 |
1 070,0 |
930,0 |
1 068,0 |
970,0 |
804,6 |
656,4 |
|
Distribution per share (cents)(3) |
622,0 |
480,0 |
432,0 |
380,0 |
495,0 |
446,4 |
369,0 |
306,0 |
|
Distribution cover (times)(3) |
2,4 |
2,4 |
2,5 |
2,4 |
2,2 |
2,2 |
2,2 |
2,1 |
|
Distribution yield (%) |
3,4 |
3,2 |
3,5 |
3,9 |
5,0 |
3,2 |
3,7 |
4,2 |
|
Earnings yield (%) |
8,1 |
7,7 |
8,8 |
9,6 |
10,9 |
6,9 |
8,1 |
9,0 |
|
Net tangible asset value per share (cents) |
4 270 |
3 444 |
3 253 |
3 098 |
2 803 |
2 135 |
1 814 |
1 542 |
| Share price (cents) |
|
|
|
|
|
|
|
|
|
high |
18 614 |
16 100 |
14 664 |
11 808 |
15 100 |
14 780 |
11 650 |
8 100 |
|
low |
14 035 |
12 000 |
9 250 |
7 750 |
9 400 |
9 430 |
7 200 |
5 195 |
|
|
closing (June 30) |
18 200 |
15 050 |
12 189 |
9 674 |
9 838 |
14 123 |
9 875 |
7 270 |
|
Market capitalisation (R’m)(4) |
56 775 |
46 508 |
38 884 |
29 505 |
29 571 |
42 772 |
29 541 |
21 768 |
|
Volumes traded (’000) |
182 235 |
232 095 |
285 279 |
243 051 |
265 157 |
233 306 |
206 156 |
166 720 |
|
Volumes traded as % of weighted number of shares |
58,7 |
72,8 |
90,7 |
80,6 |
87,5 |
77,7 |
68,7 |
55,1 |
| Ratios and statistics |
|
|
|
|
|
|
|
|
|
Return on total shareholders’ interest (%) |
25,1 |
21,1 |
24,0 |
20,8 |
30,6 |
30,2 |
32,0 |
26,5 |
|
Return on average funds employed (%)(5) |
39,9 |
37,9 |
38,7 |
36,4 |
48,6 |
50,2 |
54,0 |
53,5 |
|
Trading profit margin (%) |
5,3 |
5,2 |
5,1 |
4,6 |
4,8 |
4,8 |
4,7 |
4,8 |
|
Interest cover(8) |
8,9 |
9,5 |
7,3 |
5,0 |
5,7 |
8,0 |
10,7 |
10,7 |
|
Debt:equity ratio (%)(7) |
16,7 |
28,5 |
23,1 |
29,2 |
41,2 |
35,4 |
16,3 |
13,2 |
|
Current asset ratio |
1,1 |
1,1 |
1,1 |
1,1 |
1,1 |
1,1 |
1,1 |
1,1 |
|
Quick asset ratio |
0,7 |
0,7 |
0,7 |
0,7 |
0,7 |
0,7 |
0,8 |
0,7 |
|
Number of employees |
105 103 |
105 057 |
105 752 |
103 449 |
106 225 |
104 184 |
93 325 |
89 737 |
|
Revenue per employee (R’000) |
1 270,5 |
1 127,8 |
1 038,2 |
1 086,8 |
1 040,0 |
918,1 |
828,0 |
700,0 |
|
Value added per employee (R’000) |
248,3 |
214,4 |
203,0 |
200,2 |
184,5 |
161,0 |
150,5 |
133,2 |
|
Number of shares in issue (’000)(6) |
311 952 |
309 021 |
319 006 |
304 995 |
300 576 |
302 852 |
299 154 |
299 421 |
|
Number of weighted shares in issue (’000)(6) |
310 324 |
318 665 |
314 510 |
301 462 |
303 159 |
300 206 |
299 976 |
302 700 |
| Exchange rate comparisons |
|
|
|
|
|
|
|
|
| Rand/sterling |
|
|
|
|
|
|
|
|
|
Closing rate |
12,94 |
10,97 |
11,53 |
13,02 |
15,89 |
14,18 |
13,20 |
11,96 |
|
Average rate |
12,34 |
11,18 |
12,05 |
14,47 |
14,64 |
13,95 |
11,44 |
11,53 |
| Rand/euro |
|
|
|
|
|
|
|
|
|
Closing rate |
10,46 |
9,84 |
9,34 |
11,05 |
12,51 |
9,54 |
9,16 |
8,07 |
|
Average rate |
10,41 |
9,56 |
10,60 |
12,35 |
10,76 |
9,41 |
7,82 |
7,89 |
| Rand/Australian dollar |
|
|
|
|
|
|
|
|
|
Closing rate |
8,42 |
7,25 |
6,56 |
6,34 |
7,66 |
6,01 |
5,31 |
5,09 |
|
Average rate |
8,03 |
6,94 |
6,71 |
6,67 |
6,56 |
5,67 |
4,81 |
4,67 |
| (1) |
Based on growth from 1991, the first year of Bidvest in its current form. |
| (2) |
Based on weighted average number of shares in issue. |
| (3) |
Includes interim distributions paid and final distributions approved after year-end. Distributions include capitalisation issues at market value, distributions of share
premium and dividends. The amount for 2012 excludes a special dividend of 80 cents per share. |
| (4) |
Market capitalisation is shown net of treasury shares. Total market capitalisation was R93,6 billion (2013: R80,3 billion). |
| (5) |
Return on average funds employed is calculated using the weighted average of the Group’s funds employed and trading income. |
| (6) |
The number of shares in issue has been adjusted for treasury shares. |
| (7) |
Debt:equity ratio is the net debt of the Group divided by shareholders’ interest. |
| (8) |
Interest cover is the trading income divided by net finance costs. |
|
