e r 2 - Umgeni Water

Table 18.2: Group Financial Ratios| Financial Ratios ChapterGroup Financial Indicators and Ratios F08 F09 F10 F11 F11 F12 F13 F14 F15 F16Actual Actual Actual Budget ForecastA Performance criteria/indicators1 Total gross revenue (R'000) 1 289 035 1 492 688 1 633 043 1 614 484 1 696 301 1 868 605 1 717 212 1 836 952 1 966 038 2 102 6552 Bulk Water Business segment2.1 Volume of water sold (kl'000) 403 754 415 956 425 848 425 978 414 579 413 905 414 273 419 037 425 322 431 7022.2 Total Bulk Revenue (R'000) 1 190 798 1 259 188 1 373 786 1 460 849 1 422 120 1 506 646 1 587 960 1 697 677 1 816 291 1 942 9382.3 Average increase in revenue 13.6% 5.7% 9.1% 3.5% 5.9% 5.4% 6.9% 7.0% 7.0%2.4 Weighted average Water tariff (R/kl) (total bulk rev/total bulk vol) 2.949 3.027 3.226 3.429 3.833 4.051 4.270 4.501 4.744 5.0002.5 Total cost per kl sold 1.996 1.828 1.966 2.298 2.363 2.426 2.792 2.996 3.013 3.1153 Net profit (loss) for the year 392 865 527 014 540 711 485 623 428 481 505 129 434 625 445 795 538 435 602 2074 Profit from Operations/Revenue 0.432 0.430 0.378 0.345 0.283 0.306 0.289 0.278 0.305 0.3175 Total expenditure/Revenue 0.703 0.669 0.676 0.704 0.742 0.733 0.750 0.760 0.729 0.7166 Cost of sales/Revenue 0.305 0.365 0.380 0.384 0.413 0.448 0.403 0.413 0.422 0.4287 Total cost/volume (Rand/kl) (Consolidated) 2.244 2.401 2.592 2.667 3.034 3.308 3.110 3.334 3.370 3.4908 Net Finance costs (Rand/kl) 0.410 0.280 0.187 0.166 0.125 0.157 0.146 0.154 0.142 0.1489 Personnel cost ratio (TotalPersonnel costs/Total Costs excl finance costs) 0.281 0.266 0.257 0.280 0.215 0.234 0.268 0.266 0.278 0.28410 Personnel cost per kilolitre (Personnel costs/Annual volume) 0.516 0.565 0.619 0.699 0.626 0.737 0.793 0.846 0.897 0.950B Operating Risks11 Working ratio (total expenses excluding depreciation, amortisation and finance costs divided by Total 0.453 0.479 0.517 0.537 0.601 0.640 0.646 0.651 0.623 0.61612 Operating Ratio (Total Costs excluding depreciation & amortisation/Total Revenue) 0.581 0.557 0.566 0.581 0.631 0.674 0.682 0.686 0.654 0.64713 Controllable working ratio (total expenses exclud.raw water, deprec, amort & inter. divided by total. rev.) 0.395 0.427 0.465 0.474 0.542 0.558 0.544 0.544 0.512 0.50014 Return on assets (income before interest & taxes divided by total assets excluding investments) 20.49% 22.54% 19.85% 14.25% 14.30% 14.95% 11.70% 10.85% 11.58% 11.38%15 Asset turnover (revenue divided by total assets excluding investments ) 0.474 0.524 0.525 0.414 0.505 0.489 0.405 0.390 0.379 0.35916 Gross margin % 69.49% 63.49% 61.98% 61.64% 58.71% 55.21% 59.65% 58.73% 57.84% 57.24%17 Current asset turnover (revenue divided by current assets excl investments) 7.172 7.316 5.361 7.703 7.170 7.231 7.147 7.203 7.281 7.31918 Fixed asset turnover (revenue divided by fixed assets) 0.559 0.604 0.608 0.438 0.550 0.530 0.433 0.416 0.403 0.37919 Trade debtors collection period (Trade Debtors divided by revenue times 365) Excl VAT 35.357 37.624 50.440 38.002 38.016 38.300 38.286 38.266 38.181 38.07620 Accounts receivable turnover (revenue divided by accounts receivable) (Excl. VAT) 9.056 8.510 6.348 8.425 8.422 8.360 8.363 8.367 8.386 8.409* Accounts receivable is made up as follows:Trade Debtors 142 348 175 407 257 269 191 626 201 410 223 526 205 342 219 544 234 451 250 050Provision for Doubtful debts - - - - - - - - - -142 348 175 407 257 269 191 626 201 410 223 526 205 342 219 544 234 451 250 050Umgeni Water Five-Year Business Plan | 2011/2012 to 2015/2016 Page 137