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GROUP – NOTES TO THE ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 36. SEGMENT REPORTING continued REVENUE FROM EXTERNAL CUSTOMERS ANALYSED BY GOODS AND SERVICES Rand million 2011 2010 Sale of products* 45,842 35,825 Shipping services 2,711 2,879 Revenue per the income statement 48,553 38,704 Reconciliation of EBIT to total profit before taxation Total EBIT for reportable segments 33,030 25,815 Other segments (1,064) (684) Operating profit 31,966 25,131 Net finance costs/(income) 92 (29) Profit before taxation per the income statement 32,058 25,102 Reconciliation of reportable segments' assets to total assets Segment assets for reportable segments 793 988 Other segments and WIP inventory 3,071 2,114 Inventory per balance sheet 3,864 3,102 Other current assets 8,311 7,975 Non-current assets 22,238 16,798 Total assets per the balance sheet 34,413 27,875 * Derived from extraction, production and selling of iron ore. GEOGRAPHICAL ANALYSIS Kumba is domiciled in South Africa. The result of its revenue from external customers and its non-current assets disclosed on a geographical basis, are set out below. Rand million 2011 2010 Revenue from external customers South Africa 3,388 2,874 Export 45,165 35,830 China 29,904 23,112 Rest of Asia 9,274 7,465 Europe 5,450 4,896 Middle East 227 300 Americas/other 310 57 Total revenue 48,553 38,704 Non-current assets* South Africa 21,450 16,243 China 2 2 Total non-current assets 21,452 16,245 * Excluding pre-payments, investments in associates and joint ventures and deferred tax assets. 68 Kumba Iron Ore Limited
COMPANY BALANCE SHEET AS AT 31 DECEMBER BALANCE SHEET Rand million Notes 2011 2010 Assets Investments in subsidiaries 1 213 834 Deferred tax assets 2 1 1 Non-current assets 214 835 Other receivables – 8 Current tax assets 10 23 4 Cash and cash equivalents 3 147 543 Current assets 170 555 Total assets 384 1,390 Equity and liabilities Share capital and premium 4 366 350 Reserves (74) 993 Total equity 292 1,343 Liabilities Provisions 5 – – Non-current liabilities – – Loans from subsidiary companies 1 18 – Other payables 74 47 Current liabilities 92 47 Total liabilities 92 47 Total equity and liabilities 384 1,390 Audited annual financial statements Annual Financial Statements 2011 69
Page 1 and 2:
KUMBA IRON ORE ANNUAL FINANCIAL STA
Page 3 and 4:
KUMBA AT A GLANCE BROAD AND MEANING
Page 5 and 6:
INTEGRATED REPORTING THE INTEGRATED
Page 7 and 8:
OPERATING PROFIT (R billion) CAGR:5
Page 9 and 10:
17 13 OPERATING EXPENDITURE Rand mi
Page 11 and 12:
Net debt Kumba’s net cash positio
Page 13 and 14:
productivity improvement project,
Page 15 and 16:
CERTIFICATE OF THE COMPANY SECRETAR
Page 17 and 18:
DIRECTORS’ REPORT FOR THE YEAR EN
Page 19 and 20:
SEGMENT RESULTS Refer to note 36,
Page 21 and 22: REPORT OF THE AUDIT COMMITTEE FOR T
Page 23 and 24: REMUNERATION REPORT FOR THE YEAR EN
Page 25 and 26: Both fixed and variable components
Page 27 and 28: Executive directors’ short-term i
Page 29 and 30: Long-term incentive schemes: intere
Page 31 and 32: PRINCIPAL ACCOUNTING POLICIES FOR T
Page 33 and 34: On disposal of part or all of the i
Page 35 and 36: The average LOM stripping ratio is
Page 37 and 38: The group’s criteria for a deriva
Page 39 and 40: The group recognises termination be
Page 41 and 42: 5.2 Waste stripping costs The rate
Page 43 and 44: GROUP INCOME STATEMENT/ STATEMENT O
Page 45 and 46: GROUP CASH FLOW STATEMENT FOR THE Y
Page 47 and 48: 1. PROPERTY, PLANT AND EQUIPMENT co
Page 49 and 50: 4. INVESTMENTS HELD BY ENVIRONMENTA
Page 51 and 52: 9. INTEREST-BEARING BORROWINGS Rand
Page 53 and 54: 10. PROVISIONS continued Change in
Page 55 and 56: 15. OPERATING EXPENSES Rand million
Page 57 and 58: 19. TAXATION Rand million 2011 2010
Page 59 and 60: 22. EQUITY-SETTLED SHARE-BASED PAYM
Page 61 and 62: 23. NON-CONTROLLING INTEREST Rand m
Page 63 and 64: 29. FINANCIAL INSTRUMENTS The group
Page 65 and 66: 29. FINANCIAL INSTRUMENTS continued
Page 67 and 68: 29. FINANCIAL INSTRUMENTS continued
Page 69 and 70: 32. COMMITMENTS Rand million 2011 2
Page 71: 35. RELATED PARTY TRANSACTIONS cont
Page 75 and 76: COMPANY CASH FLOW STATEMENT FOR THE
Page 77 and 78: 4. SHARE CAPITAL AND SHARE PREMIUM
Page 79 and 80: 11. RELATED PARTY TRANSACTIONS Duri
Page 81 and 82: ANNEXURE 2: INVESTMENTS IN ASSOCIAT
Page 83 and 84: LONG-TERM INCENTIVE PLAN continued
Page 85 and 86: MANAGEMENT SHARE OPTION SCHEME cont
Page 87 and 88: ANNEXURE 5: INCOME STATEMENT - US D
Page 89 and 90: BREAKDOWN OF NON-PUBLIC HOLDINGS BR
Page 91 and 92: NOTES Annual Financial Statements 2
Page 93: 4771/11
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