omnia holdings annual report 2010 omnia holdings annu

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108 OMNIA ANNUAL REPORT 2010 FINANCIAL STATEMENTS continued NOTES TO THE GROUP FINANCIAL STATEMENTS continued for the year ended 31 March 2010 29 FINANCIAL RISK MANAGEMENT continued Less than 1 year Rm Between 1 and 2 years Rm Between 2 and 5 years Rm Over 5 years Rm At 31 March 2009 Forward foreign exchange contracts Outflow (396) – – – (396) Inflow 179 – – – 179 (217) – – – (217) The Group’s liquidity risk consists mainly of the amount borrowed from time to time. The details of undrawn facilities are disclosed in note 22. The liquidity risk is managed by monitoring the daily borrowing levels and by conducting cash flow forecasts at regular intervals in order to maintain sufficient funds to fund the business from cash generated by operations and funds available from committed credit facilities. Exposure to currency risk The Group operates internationally and is exposed to foreign exchange rate risk arising from various currency exposures primarily with respect to the US dollar. Companies in the Group use forward contracts to hedge their exposure to foreign currency risk. The exposure to foreign currency risk was as follows based on notional amounts: USD million Euro million Total Rm Other million 31 March 2010 Trade receivables 49 1 – Trade payables (112) (4) (13) Gross balance sheet exposure (63) (3) (13) Estimated forecast sales 85 – – Estimated forecast purchases (72) (2) – Gross exposure (50) (5) (13) Forward exchange contracts 58 14 13 Net exposure 8 9 – USD Euro 31 March 2009 million million Trade receivables 80 1 Trade payables (69) (1) Gross balance sheet exposure 11 – Estimated forecast sales 47 – Estimated forecast purchases (9) (5) Gross exposure 49 (5) Forward exchange contracts (38) (1) Net exposure 11 (6)
29 FINANCIAL RISK MANAGEMENT continued OMNIA ANNUAL REPORT 2010 109 2010 millions 2009 millions Imports for the period ending 31 March USD 1 281 2 934 Euro 31 175 Other 27 25 Exports for the period ending 31 March USD 456 2 770 Euro 3 136 Other 3 – Sensitivity analysis At the reporting date, if the rand had strengthened by 10% (2009: 30%) with all other variables held constant, post-tax profit for the year would have been R68 million (2009: R6 million) higher, mainly as a result of foreign exchange gains on translation of foreign denominated borrowings and trade payables compensated by foreign exchange losses on translation of foreign denominated cash and cash equivalents. A 10% weakening of the rand at 31 March would have had the equal but opposite effect on the basis that all other variables remain constant. Exposure to interest rate risk The Group has entered into forward rate and swap agreements that entitle the Group to receive interest at floating rates on notional principal amounts and oblige the Group to pay interest at fixed rates on the same amounts. The interest rate swap agreements allow the Group to raise long-term and short-term borrowings at floating rates and swap them into fixed rates that are lower than those available if they borrowed at fixed rates directly. Under the interest rate swaps, the Group agrees with other parties to exchange, at specified intervals, the difference between the fixed rate and the floating rate interest amounts calculated by reference to the agreed notional principal amounts. The remaining terms and notional principal amounts of the outstanding forward rate and swap agreements at 31 March were: Less than 1 year – 100 Later than 1 year and not later than 5 years – – Sensitivity analysis An increase of 100 basis points (2009: 250 basis points) in the interest rates at the reporting date would have decreased profit or loss by R3 million (2009: R4 million). This analysis assumes that all other variables, in particular foreign currency rates, remain constant. A decrease of 100 basis points in the interest rates at the reporting date would have had the equal opposite effect. Net fair values The net fair values of the Group’s derivative financial instruments at the balance sheet date were: Unfavourable interest rate swap contracts – (1) Unfavourable foreign exchange contracts (56) (217) 2010 Rm 2010 Rm 2009 Rm 2009 Rm
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OMNIA HOLDINGS ANNUAL REPORT 2010
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OMNIA’S MILESTONES 1976 1974 1972
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FINANCIAL HIGHLIGHTS Audited 31 Mar
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OUR VISION CREATING CUSTOMER WEALTH
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OMNIA ANNUAL REPORT 2010 5 The diff
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Participants were required to inves
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Statistical information 31 March 20
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The world today faces the compoundi
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OMNIA ANNUAL REPORT 2010 13 Omnia
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Rod Humphris (53) Executive directo
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OMNIA ANNUAL REPORT 2010 17 Notwith
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(2009: 1 107,4 cents), and headline
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the best agronomic advice in all as
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OMNIA ANNUAL REPORT 2010 23 The sou
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Within the Chemicals Division produ
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Overview of Chemicals Protea Chemic
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MINING DIVISION - REVIEW OPERATIONA
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of ore. The risks normally associat
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Financial performance As expected,
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About this report This sustainabili
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highly productive lands are also mo
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- Vaal Triangle Priority Area Air M
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Challenges and opportunities Our re
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Corporate governance This corporate
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Board committees While the Board re
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The Group has made great strides in
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concern assumption at the interim r
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implemented to introduce a technolo
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There has been a marked improvement
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Social performance Recognising our
Page 61 and 62: for new students of a Certificate i
Page 63 and 64: To entrench these commitments throu
Page 65 and 66: At Omnia Fertilizer, all incidents
Page 67 and 68: Water Use Licence Application (IWUL
Page 69 and 70: FINANCIAL STATEMENTS A responsible
Page 71 and 72: REPORT OF THE AUDIT COMMITTEE for t
Page 73 and 74: DIRECTORS’ REPORT The directors a
Page 75 and 76: DIRECTORS’ SHAREHOLDING as at 31
Page 77 and 78: GROUP INCOME STATEMENT for the year
Page 79 and 80: GROUP STATEMENT OF CHANGES IN EQUIT
Page 81 and 82: NOTES TO THE GROUP FINANCIAL STATEM
Page 83 and 84: IAS 39, only certain, rather than a
Page 85 and 86: 1.5 Cost of sales When inventories
Page 87 and 88: are presented in the income stateme
Page 89 and 90: fair value of plan assets, together
Page 91 and 92: 1.22 Financial risk management 1.22
Page 93 and 94: 2 PROPERTY, PLANT AND EQUIPMENT Fre
Page 95 and 96: 2 PROPERTY, PLANT AND EQUIPMENT con
Page 97 and 98: 4 AVAILABLE-FOR-SALE FINANCIAL ASSE
Page 99 and 100: 8 STATED CAPITAL continued Number o
Page 101 and 102: 13 INTEREST-BEARING BORROWINGS OMNI
Page 103 and 104: 15 PROVISIONS OMNIA ANNUAL REPORT 2
Page 105 and 106: 19 FINANCE EXPENSES OMNIA ANNUAL RE
Page 107 and 108: 21 EARNINGS PER SHARE AND DIVIDENDS
Page 109 and 110: 28 ACQUISITION OF BUSINESS OMNIA AN
Page 111: 29 FINANCIAL RISK MANAGEMENT contin
Page 115 and 116: 30 RELATED PARTY TRANSACTIONS conti
Page 117 and 118: 32 RETIREMENT BENEFIT INFORMATION c
Page 119 and 120: OMNIA ANNUAL REPORT 2010 115 33 CON
Page 121 and 122: 36 SHARE INCENTIVE SCHEME continued
Page 123 and 124: 36 SHARE INCENTIVE SCHEME continued
Page 125 and 126: Country of incorporation Issued cap
Page 127 and 128: COMPANY INCOME STATEMENT for the ye
Page 129 and 130: COMPANY CASH FLOW STATEMENT for the
Page 131 and 132: SUMMARY OF SHAREHOLDER SPREAD at 31
Page 133 and 134: NOTICE TO SHAREHOLDERS for the year
Page 135 and 136: FORM OF PROXY For use at the annual
Page 137 and 138: ADMINISTRATION GROUP COMPANY SECRET
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omnia holdings annual report 2010 omnia holdings annu

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