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COMPANY INCOME STATEMENT / STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER INCOME STATEMENT Rand million Notes 2011 2010 Net operating expenses 6 (44) (33) Operating loss (44) (33) Finance income 71 122 Finance costs (1) – Income from investments 7 13,016 6,705 Profit before taxation 13,042 6,794 Taxation 8 (95) (35) Profit for the year 12,947 6,759 Total comprehensive income for the year 12,947 6,759 The company did not have any non-owner changes in equity during the year other than the profit for the year, therefore no separate statement of other comprehensive income is presented for the years ended 31 December 2011 and 2010. STATEMENT OF CHANGES IN EQUITY Share premium (note 4) Equity-settled share-based payment Rand million Share capital (note 4) Retained earnings Total Balance at beginning of year 3 267 202 518 990 Shares issued during the period – 80 – – 80 Equity-settled share-based payments – – 246 – 246 Vesting of shares under employee share incentive schemes – – (3) (9) (12) Total comprehensive income for the year – – – 6,759 6,759 Dividends paid – – – (6,720) (6,720) Balance at 31 December 2010 3 347 445 548 1,343 Shares issued during the period – 16 – – 16 Equity-settled share-based payments – – (244) – (244) Vesting of shares under employee share incentive schemes – – (7) (14) (21) Total comprehensive income for the year – – – 12,947 12,947 Dividends paid – – – (13,749) (13,749) Balance at 31 December 2011 3 363 194 (268) 292 70 Kumba Iron Ore Limited
COMPANY CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER CASH FLOW STATEMENT Rand million Notes 2011 2010 Cash flows from operating activities Cash utilised by operations 9 3 6 Net finance income 71 122 Income from investments 13,016 6,705 Taxation paid 10 (114) (16) Dividends paid (13,749) (6,720) (773) 97 Cash flows from investing activities Redemption of long-term asset – 458 Net increase/(decrease) in loans to subsidiaries 364 (164) 364 294 Cash flows from financing activities Share capital issued 4 16 80 Increase in loans from subsidiaries 18 – Vesting of shares under employee share incentive schemes (21) (12) 13 68 Net (decrease)/increase in cash and cash equivalents (396) 459 Cash and cash equivalents at beginning of year 543 84 Cash and cash equivalents at end of year 3 147 543 Audited annual financial statements Annual Financial Statements 2011 71
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 and 72: 35. RELATED PARTY TRANSACTIONS cont
Page 73: COMPANY BALANCE SHEET AS AT 31 DECE
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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