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248 Telkom Annual Report 2009 Notes to the consolidated annual financial statements (continued) for the three years ended March 31, 2009 46. ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED (continued) Amendment to IAS32 Financial Instruments Presentation and IAS1 Presentation of Financial Statements, Puttable Financial Instruments The amendment is effective for periods beginning January 1, 2009. The amendments classify puttable financial instruments, or components of instruments, that impose on the entity an obligation to deliver to another party a pro-rata share of the net assets of the entity only on liquidation, as equity, provided they have particular features and meet specific conditions. The impact of this amendment is being evaluated. IAS39 Financial Instruments: Recognition and Measurement (amended) The amendment is effective for annual periods ending on or after June 30, 2009. The amendment clarifies that on reclassification of a financial asset out of the ’fair value through profit or loss’ category, all embedded derivatives have to be assessed and, if necessary, separately accounted for in financial statements. The amendment will not have an impact on the financial statements as Telkom does not have material embedded derivatives. IAS39 Financial Instruments: Recognition and Measurement – Eligible Hedged Items (amended) The amendment to the standard is effective for annual periods beginning on or after July 1, 2009. The amendment clarifies that an entity is permitted to designate a portion of the fair value changes or cash flow variability of a financial instrument as a hedged item. The amendment will not have an impact on the financial statements as Telkom does not apply hedge accounting. Changes as a result of the annual improvements project A number of standards were amended as a result of the annual improvements project of the IASB in May 2008 effective for annual periods beginning on or after January 1, 2009, with the exception of IFRS5 which is effective for annual periods beginning on or after July 1, 2009. These standards were as follows: IFRS5 Non-Current Assets Held for Sale and Discontinued Operations IAS1 Presentation of Financial Statements – Non-Current/Current Classification of Derivatives IAS16 Property, Plant and Equipment IAS19 Employee Benefits IAS20 Government Grants IAS23 Borrowing Costs – Components of Borrowing Costs IAS27 Consolidated and Separate Financial Statements IAS28 Investments in Associates IAS29 Financial Reporting in Hyperinflationary Economies IAS31 Interests in Joint Ventures IAS36 Impairment of Assets IAS38 Intangible Assets IAS39 Financial Instruments: Recognition and Measurement IAS40 Investment Property IAS41 Agriculture The Group will adopt the changes to these standards during the 2010 financial year with the exception of IFRS5, which will be adopted during the 2011 financial year. The Group is currently evaluating the effects of the improvements.
fixed Company financial statements Company income statement 250 Company balance sheet 251 Company statement of changes in equity 252 Company cash flow statement 253 Notes to the Company annual financial statements 254 business shows resilience Company Financial Information 6
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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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Service fees increased in the year
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Vodacom’s operating revenue from
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our fixed-line business, which were
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Vodacom’s selling, general and ad
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The increase in other operating rev
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commercial paper bills, as well as
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The following table sets forth our
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challeng Consolidated financial sta
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138 Telkom Annual Report 2009
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140 Telkom Annual Report 2009 Direc
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142 Telkom Annual Report 2009 Conso
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144 Telkom Annual Report 2009 Conso
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146 Telkom Annual Report 2009 Notes
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346 VOTING AND PROXIES Ordinary sha
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Notes Telkom Annual Report 2009 1.
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