2003/2004 financial results
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Geoffrey QhenaChief Financial Officer
Industrial Development Corporation of South Africa Limited
2003/20042003/2004Financial Results Financial Results
Abridged Group Income StatementAbridged Group Income Statementfor the Year Ended 30 June 2004 (R’mil)for the Year Ended 30 June 2004 (R’mil)
20042004 20032003
3 961 3 802
RevenueRevenue
Net operating (loss) / income (803) 255Net capital gains on investments 628 335
TaxationNet income after taxMinority interestNet attributable income
(470)706
9
697697
18781(6)
787787
Net income from operations 236 799
Share of equity accounted investments- Profits/(losses) from ordinary operations
411 209
Analysis of Net AttributableAnalysis of Net Attributable Income/(Loss) (R’mil) Income/(Loss) (R’mil)
-500
0
500
1000
1500
2000
1997/98 1998/99 1999/00 2000/01 2001/02 2002/03 2003/04
465
822666
(258)
1831
787697
Abridged Group Balance SheetAbridged Group Balance Sheetas at 30 June 2004 (R’mil)as at 30 June 2004 (R’mil)
2004 2003
1 66625
0592 568
3561 291
30 30
994040
2 773
23 125
2 27636
1 592
29 29
802802
AssetsAssetsCash and cash equivalentsLoans, advances and investmentsProperty, plant and equipmentDeferred taxationOther assets
Debt/Equity Ratio 22%22% 28%28%
Equity and LiabilitiesEquity and LiabilitiesCapital and reservesLong-term loansDeferred taxationBank overdraftOther liabilities
24 541
5 366-
34999
30 30
994040
22 058
6 15753423
1 030
29 29
802802
Strengthened Financial BaseStrengthened Financial Base
0
5
10
15
20
25
30
1997/98 1998/99 1999/00 2000/01 2001/02 2002/03 2003/04
Capi
tal a
nd R
eser
ves
(R'b
n)
20
25
30
35
40
45
50
55
Debt
/ Eq
uity
ra
tio (%
)
Fair value revaluationExcl. fair value revaluationDebt/Equity ratio
Listed Investments (R’mil)Listed Investments (R’mil)
Sasol LtdBHP Billiton Sappi LtdKumba Resources LtdIscor LtdAcerinox LtdOther
Realised
4 450
2 718
1 608
1 249
627
550
220
11 42211 422
372372
30-6-2003
Holding
(%)
8.0%
2.8%
7.4%
14.0%
8.8%
2.9%
30-6-2003
Market
Value
5 119
2 976
1 677
1 370
1 512
676
303
13 63313 633
673673
30-6-2004
Holding
(%)
8.0%
2.2%
7.4%
14.0%
8.8%
2.9%
30-6-2004
Market
Value
6 307
3 407
1 571
1 577
1 771
703
354
15 690
--
13-9-2004
Holding
(%)
8.0%
2.2%
7.4%
14.0%
8.8%
2.9%
13-9-2004
Market
Value
Thank youThank you
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