Our performance in 2009 - Sappi

More documents

Recommendations

Info

Condensed Sappi Limited company balance sheet at September 2009 2009 annual report ZAR million 2009 2008 Assets Non-current assets 20,424 14,950 Property, plant and equipment 2 3 Investments in subsidiaries (Annexure A) 18,142 12,319 Intercompany receivables (Annexure A) 2,199 2,420 Loan to Executive Share Purchase Trust 81 104 Project cost capitalised – 85 Deferred tax asset – 19 Current assets 42 41 Receivables 8 5 Intercompany receivables (Annexure A) 34 36 Total assets 20,466 14,991 Equity and liabilities Shareholders’ equity 20,334 14,750 Ordinary share capital 537 239 Share premium 12,062 6,427 Non-distributable reserves 333 247 Retained earnings 7,402 7,837 Non-current liabilities Intercompany payables (Annexure A) 31 30 Current liabilities 101 211 Trade and other payables 44 123 Intercompany payables (Annexure A) 42 75 Taxation payable 15 13 Total equity and liabilities 20,466 14,991 195 financials
196 Condensed Sappi Limited company statement of changes in equity for the year ended September 2009 ZAR million Number of ordinary shares Ordinary share capital Share premium Ordinary share capital and share premium Non- distributable reserves Distri- butable reserves Total equity Balance – September 2007 239.1 239 6,427 6,666 18 7,891 14,575 Share-based payment – – – – 229 – 229 Profit for the year – – – – – 445 445 Dividends* – – – – – (499) (499) Balance – September 2008 239.1 239 6,427 6,666 247 7,837 14,750 Share-based payment – – – – 86 – 86 Profit for the year – – – – – (61) (61) Dividends* – – – – – (374) (374) Rights issue proceeds 286.8 287 5,528 5,815 – – 5,815 Costs directly attributable to the rights issue – – (302) (302) – – (302) Issue to M-real 11.2 11 409 420 – – 420 Balance – September 2009 537.1 537 12,062 12,599 333 7,402 20,334 * Dividends relate to the previous financial year’s earnings but were declared subsequent to year end. Condensed Sappi Limited company cash flow statement at September 2009 ZAR million 2009 2008 (Loss) profit before interest and taxation (38) 457 Adjustments: Dividends received pre-acquisition 82 136 Impairment of investment – 113 Subsidiary transactions 306 (123) Other 13 13 Cash generated from operations 363 596 Movement in working capital (82) 57 Net finance income 21 5 Taxation paid (23) 18 Dividends paid (374) (499) Cash (utilised in) retained from operating activities (95) 177 Fixed asset purchases – (1) Increase in non-current assets – (80) Increase in investments (5,493) (315) Increase in equity and reserves 5,513 – Proceeds from share option deliveries 75 218 Net movement in cash and cash equivalents – (1) Cash and cash equivalents at beginning of year – 1 Cash and cash equivalents at end of year – –
Page 1 and 2:
SAPPI GROUP (Sappi Limited) ANNUAL
Page 3 and 4:
• the impact of future investment
Page 5 and 6:
Our reporting strategy As a leading
Page 7 and 8:
1 2 North America 2 4 1 San Francis
Page 9 and 10:
4 Our performance in 2009 Financial
Page 11 and 12:
6 Our performance against financial
Page 13 and 14:
8 Our performance against sustainab
Page 15 and 16:
10 Our performance against sustaina
Page 17 and 18:
12 Our performance against sustaina
Page 19 and 20:
14 Our sustainable business cycle T
Page 21 and 22:
16 Our products 1 2 3 Coated paper
Page 23 and 24:
Our objectives for 2010 Improve pro
Page 25 and 26:
20 Letter to shareholders continued
Page 27 and 28:
22 Letter to shareholders continued
Page 29 and 30:
24 Interview with Ralph Boëttger,
Page 31 and 32:
26 Our leadership Independent non-e
Page 33 and 34:
28 Our leadership continued Indepen
Page 35 and 36:
30 Review of operations Sappi Fine
Page 37 and 38:
32 Review of operations | Sappi Fin
Page 39 and 40:
34 Review of operations | Sappi Fin
Page 41 and 42:
36 Review of operations Sappi Fores
Page 43 and 44:
38 Review of operations | Sappi For
Page 45 and 46:
40 Value added statement for the ye
Page 47 and 48:
42 Chief financial officer’s repo
Page 49 and 50:
Page 51 and 52:
Page 53 and 54:
Page 55 and 56:
Page 57 and 58:
Page 59 and 60:
Page 61 and 62:
Page 63 and 64:
Page 65 and 66:
Page 67 and 68:
62 Five-year review for the year en
Page 69 and 70:
64 Share statistics at September 20
Page 72 and 73:
Risk management Global economic con
Page 74 and 75:
Risk philosophy The Sappi Limited b
Page 76 and 77:
Independence Accountability Given t
Page 78 and 79:
Fairness Social responsibility Lege
Page 80 and 81:
2009 annual report 75 Induction and
Page 82 and 83:
2009 annual report 77 employment of
Page 84 and 85:
2009 annual report 79 board to esta
Page 86 and 87:
As part of continuous improvement t
Page 88 and 89:
Compensation report In 2009, the co
Page 90 and 91:
Balance between fixed and variable
Page 92 and 93:
Executive directors (1) Details of
Page 94 and 95:
2009 annual report 89 R J Boëttger
Page 96 and 97:
2009 annual report 91 Board Committ
Page 98 and 99:
Auditor’s report Independent audi
Page 100 and 101:
Audit committee report The legal re
Page 102 and 103:
Directors’ report for the year en
Page 104 and 105:
Litigation We become involved from
Page 106 and 107:
Group balance sheet at September 20
Page 108 and 109:
Group statement of changes in equit
Page 110 and 111:
Group balance sheet in Rands conven
Page 112 and 113:
Notes to the group annual financial
Page 114 and 115:
• Financial assets and financial
Page 116 and 117:
2.2.10 Non-current assets held for
Page 118 and 119:
(iii) Dividends Dividends are recog
Page 120 and 121:
uyer and seller) multiple used in o
Page 122 and 123:
2.4 Adoption of accounting standard
Page 124 and 125:
Corporate and eliminations Group 20
Page 126 and 127:
2009 annual report US$ million 2009
Page 128 and 129:
6. Taxation (benefit) charge contin
Page 130 and 131:
7. Earnings per share and headline
Page 132 and 133:
2009 annual report 9. Property, pla
Page 134 and 135:
US$ million 2009 annual report 2009
Page 136 and 137:
Page 138 and 139:
13. Joint ventures and associates*
Page 140 and 141:
Page 142 and 143:
16. Trade and other receivables con
Page 144 and 145:
2009 annual report 17. Ordinary sha
Page 146 and 147:
Page 148 and 149:
20. Interest-bearing borrowings con
Page 150 and 151: 2009 annual report 20. Interest-bea
Page 152 and 153: 22. Provisions continued September
Page 154 and 155: 2009 annual report US$ million 2009
Page 156 and 157: 27. Post-employment benefits - pens
Page 158 and 159: 27. Post-employment benefits - pens
Page 160 and 161: 2009 annual report 2009 2008 27. Po
Page 162 and 163: 2009 annual report 28. Post-employm
Page 164 and 165: 28. Post-employment benefits - othe
Page 166 and 167: 29. Share-based payments continued
Page 168 and 169: 2009 annual report 29. Share-based
Page 170 and 171: 2009 annual report 29. Share-based
Page 172 and 173: 30. Financial instruments continued
Page 178 and 179: 2009 annual report 30. Financial in
Page 194 and 195: 2009 annual report 31. Related-part
Page 196 and 197: 2009 annual report 33. Environmenta
Page 198 and 199: Company auditor’s report for the
Page 202 and 203: 2009 annual report Notes to the con
Page 204 and 205: Glossary General definitions bleach
Page 206 and 207: not be comparable with similarly ti
Page 208 and 209: No issue and/or sale of these share
Page 210 and 211: Notes Confirmation of appointment o
Page 212 and 213: Proxy form for annual general meeti
Page 214 and 215: forward-looking statements Certain
show all

Our performance in 2009 - Sappi

Create successful ePaper yourself

Delete template?

Save as template?