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172 Telkom Annual Report 2009 Notes to the consolidated annual financial statements (continued) for the three years ended March 31, 2009 10. EARNINGS PER SHARE (continued) Gross* Net Discontinuing operations Rm Rm 2009 Reconciliation between earnings and headline earnings: Profit from discontinued operations 2,181 Minority interest 51 Earnings from discontinued operations attributable to equity holders of Telkom 2,130 Profit on disposal of property, plant and equipment and intangible assets 7 5 Impairment loss on property, plant and equipment and intangible assets 56 56 Headline earnings 2,191 2008 Reconciliation between earnings and headline earnings: Profit from discontinued operations 3,138 Minority interest 74 Earnings as reported 3,064 Profit on disposal of investments (available-for-sale) (4) (4) Profit on disposal of property, plant and equipment and intangible assets 19 13 Impairment loss on property, plant and equipment and intangible assets 15 15 Headline earnings 3,088 2007 Reconciliation between earnings and headline earnings: Profit from discontinued operations 2,559 Minority interest 109 Earnings as reported 2,450 Profit on disposal of investments (available-for-sale) (9) (6) Profit on disposal of property, plant and equipment and intangible assets (13) (9) Reversal of impairment loss on property, plant and equipment and intangible assets 12 9 Headline earnings 2,444 2007 2008 2009 Dividend per share (cents) 900.0 1,100.0 660.0 The calculation of dividend per share is based on dividends of R3,306 million (2008: R5,627 million; 2007: R4,678 million) declared on June 6, 2008 and 500,941,027 (2008: 511,513,237; 2007: 519,711,236) number of ordinary shares outstanding on the date of dividend declaration. The reduction in the number of shares represents the number of treasury shares held on date of payment. * These are the gross amounts, before deducting taxation and minority interests.
11. PROPERTY, PLANT AND EQUIPMENT 2007 2008 2009* Telkom Annual Report 2009 173 Notes to the consolidated annual financial statements (continued) for the three years ended March 31, 2009 Accumu- Accumu- Accumu- lated lated lated depre- depre- depreciation and ciation and ciation and impair- Carrying impair- Carrying impair- Carrying Cost ment value Cost ment value Cost ment value Rm Rm Rm Rm Rm Rm Rm Rm Rm Freehold land and buildings 4,594 (1,837) 2,757 4,931 (2,010) 2,921 4,950 (2,136) 2,814 Leasehold buildings 926 (362) 564 1,052 (418) 634 805 (477) 328 Network equipment 63,003 (31,820) 31,183 69,572 (35,214) 34,358 59,765 (29,982) 29,783 Support equipment Furniture and office 4,045 (2,436) 1,609 4,355 (2,635) 1,720 3,921 (2,482) 1,439 equipment Data processing equipment and 536 (366) 170 568 (377) 191 453 (328) 125 software Under 5,836 (3,707) 2,129 6,279 (3,904) 2,375 5,543 (3,518) 2,025 construction 2,536 – 2,536 4,200 – 4,200 4,612 – 4,612 Other 860 (554) 306 1,046 (630) 416 721 (429) 292 82,336 (41,082) 41,254 92,003 (45,188) 46,815 80,770 (39,352) 41,418 Fully depreciated assets with a cost of R155 million (2008: R498 million; 2007: R1,225 million) were derecognised in the 2009 financial year. This has reduced both the cost price and accumulated depreciation of property, plant and equipment. Property, plant and equipment with a carrying value of R158 million (2008: R681 million; 2007: R574 million) are pledged as security. Details of the loans are disclosed in note 28. * Net of assets of disposal groups classified as held for sale.
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We are... one of Africa’s largest
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Telkom shareholding as at March 31,
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Grow profitable revenue through wir
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600 500 400 300 200 100 0 07 08 09
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The telecommunications industry Con
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egulation that stipulated standard
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a - Euros a - Euros a - Euros 0.25
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ated management team with experienc
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The regulatory environment The regu
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On target for 2010 Telkom Annual Re
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Online impairments, the fixed-line
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• Remodelling - reaching for new
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in this annual report has been upda
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Capital expenditure for the Group i
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More than100 years of combined tele
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Management team Telkom Annual Repor
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Telkom Annual Report 2009 33 Age at
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uild a partnership with communities
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Customers: Through our Customer Cen
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• Interfacing with the media Whil
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Partnering with Human Resources Gro
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The members’ resignations and app
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Share dealings In line with JSE Lis
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NYSE rules Telkom practice Telkom A
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the codes of conduct and ethics tha
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Telkom Annual Report 2009 51 Enterp
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provider, we practice a risk manage
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egulate the business of dealers in
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addressing a number of significant
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There was a major Over the past dec
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payment policy that facilitates the
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Headcount movement Compensation and
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• Accelerated development of wome
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14,500 union members participated i
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were admitted to the university in
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ole in exposing students to the rea
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Sick leave indices • We saved R2
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These will be augmented by another
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Some of the key deliverables are:
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Fittingly, the initiative was launc
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Sponsorships Sponsorships continue
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Item Comment and reference Governan
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espond to competitive challenges Pe
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Operational review History and deve
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service. All costs including instal
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Traffic was adversely affected in b
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Telkom’s focus on bringing new in
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esponse of the CDMA operators to ou
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MWEB Africa On April 21, 2009, we a
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VPN model that allows other service
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services and also to support Telkom
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Telkom’s fixed-line voice busines
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Results of operations The Telkom Gr
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EBITDA can be reconciled to operati
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Telkom Annual Report 2009 109 Finan
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Fixed-line operating revenue increa
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The following table sets forth info
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Interconnection revenue Year ended
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Telkom Annual Report 2009 117 Fixed
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Fixed-line payments to other networ
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346 VOTING AND PROXIES Ordinary sha
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Notes Telkom Annual Report 2009 1.
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