FEATURES

Group

  • Attributable income up 61% to R853,3 million (2011: R530,9 million)
  • Headline earnings per share up 22% to 121,9 cents (2011: 99,6 cents)
  • Earnings per share up 30% to 144,6 cents (2011: 111,0 cents)
  • Net interest-bearing debt to total shareholders’ interest of 7% (2011: 10%)
  • Cash generated from operations R1,4 billion
  • Final ordinary dividend up 28% to 15,4 cents per share (2011: 12,0 cents)
  • Conclusion of significant joint ventures and acquisitions across coal, fuel, seafreight, rail and agency service businesses

Freight Services

  • Earnings (including a profit of R414,9 million on disposal of 35% of the Maputo coal terminal) up 150% to R793,3  million (2011: R317,8 million)
  • Drybulk terminals’ volume up 26% to 12,0 million tonnes (2011: 9,5 million tonnes)
  • Port of Maputo volumes up 27% to 15,0 million tonnes (2011: 11,8 million tonnes)
  • Intermodal’s mining and minerals handling business increased 90% on prior year

Trading

  • Earnings (adjusted for marine fuels joint venture) up 12% to R113,5 million (2011 100% earnings: R143,9 million)
  • Operating margin per tonne up 17% to US$3,90 (R32,02) in 2012 from US$3,33 (R24,22)

Shipping

  • Earnings before ship impairments remained positive despite declining rates
  • Average earnings per day outperformed average spot market rates for the period across all sectors
  • R173,3 million impairment of ship values due to weaker shipping markets

Financial Services

  • Earnings up 11,5% to R65,1 million (2011: R58,4 million)
  • Assets under management increased to R11,0 billion (2011: R6,1 billion)
  • Rollout of South African Social Security Agency (SASSA) bank cards commenced in April 2012 with 5,5 million in issue at year-end