e r 2 - Umgeni Water

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Chapter| Self-Evaluation Statement on FinancialViabilityofUmgeniWaterFigure 19.313: Net Proffit25. 00%20. 00%15. 00%10. 00%22. 63%20. 53% % 20. 00%Return on Asssetss14. 35%14. 97%11. .71%10. .86%% 11. .59%11. .39%The returnn on assetsisexpected to t decreasee to belowtheUmgeni Water targetofbetween 15% 1 to 20%for thenext 6 years due mainly to thedecrease in EBIT.5. 00%0. 00%200820092010201120122013201420152016Figure 19.414: InterestCoverRatio6.0005.0004.000Interest Cover Ratio4. 2283. 6263.2863.6234.54555.562The interestcoverratio(EBIT/ interestpaid) isforecastt to improvefrom 2.38times too 3.29 timesin F’11.3.0002.0001.9492.3362.3841.000-20082009201020112012201320144 20155 20166Pagee 140Umgeni WateWer Five-Year Business Plann | 201121/2012to 2015/2016
| Self-Evaluation Staatement onFinancialViabilityofUmgenii WaterChapter19.1.2Factorsimpacting on operating performanceThe operatingperformancee of Umgeni Water iss beingg negatively impacted by:1. Negative voluvumegrowth due to water lossdemand initiatives by Umgeni Water’s customersandd2. Higherthan inflationn linkedd increasess in operatingg costsper kilolitre1.Volume sales analalysisFigure 19.5: TotalBulk Water Sales4354430442544204415441040544004395390385340420084264163.0% %2 2.4% %200992010Total Sales VoluVume(Bulk)419415414414(0.16%))(2.65%)2011120120. .1%20131.1% %20144251. .5%%20154321.5% %20168.0080%6.0060%4.0040%2.0020%0.0000%-2.00%-4.00%Thegrowth in sale volumes iss negative2.65%in F’111 andd negativee 0.16%in F’122 due mainlyto theprojectednegative growthtrendfor eThekwini Municipality.2. Increasee in opeeratingcostsThekey costdriverss per unit of o kilolitresold ass indicatedd byy thetablebelowforr F’11 too F’12 are rawwater,energy, stafff andimpairmentsTable19. 1: KeyCost DriversComponentsDirect CostsChemicalsDepreciationEnergyMaintenanceRaw WaterStaff CostsOther direct operatingactivitiessTotal DirectCosts2009/2010Tariff f ChangeR.c/kl%0.0690.1470.1180.2320.1970.1930.0220.978(2%)7%29%6%5%9%169%%10%Budget 2010/2011TarifffChangeR.c/kl%0. 0720. 1950. 1780.2470.2390.2170. 0221. 17011%27%39%1%13%13%6%15%2010/20111TarifffChangeR.c/kll%0.0820. 1630. 1860.2350.2430.2150.0241. 14819%11%58%1%23%12%0%17%2011/20122TarifffR.c/klChange%0.0877%0.160(1%)0.20912%0.233(1%)0.36952%0.23610%0.019(19%)1.31414%Indirect CostsOverheadsDepreciationAmortisationImpairmentsTotal Indirect Costs0.5960.0350.2320.0230.88621%16%3%392%%18%0. 7490. 0440.218-1. 01118%30%(6%)-13%0.6470.0500.2280.2101. 1359%45%(2%)814%%28%0.6980.0710.0070.2321.0098%41%(97%)10%(11%)Total direct& indirect cost1.86414%2.18117%2.28322%2.3222%Finance Costs0.169(35%))0. 107(37%))0. 107(37%))0.13425%Umgeni Water Five-YearBusinessPlan | 2011/20122 too 2015/2016Pagee 141
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WF2WaFiv20atev01er fUve11forUe-Y1/r
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Chapter| Table of ContentsPage 2 Um
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Chapter| Foreword by the ChiefExecu
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| Introduction and Strategy Chapter
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| Introduction andd StrategyChapter
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| Policy StatementChapterChapter 3.
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| Directivesby thee MiniisterChapte
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For thee strategicobjective ‘excc
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| Self-Appraisal Chaptero The proje
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| Participation inCompaniesChapterC
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| Water ResourcesChapterChapter 7.W
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| Water Resources Chapter7.2 Water
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7.4 Water Demands, Planned Developm
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| Water Resources ChapterFigure 7.1
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| Water Resources Chapterconstructi
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| Water ResourcesChapterandSouthCoa
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| BulkPotable WaterSupply PlanChapt
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| BulkPotable Waterr Supply PlanCha
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| Bulk Potable Water Supply Plan Ch
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8.4.2 Bulk Water Supply Infrastruct
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| Bulk Wastewater Treatment andd Di
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| RetailSupplyChapterChapter 10.Ret
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| OtheOer Activitiess (Sectionn 30)
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| Other Activities (Section 30) Cha
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| HumanResources PlanChapterChapter
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| HumanResources PlanChapterFigure1
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| Human Resources Plan ChapterThe s
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| HumanResources PlanChapter12.7Gov
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| Environmental ManaMagementt Progr
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| Environmental Management Programm
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| Waterr Conservationandd Demand Ma
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C1InpvGmeTwaacTcD2Ft2UwmUpC15npevoG
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| Financial Plan Chapter15.2.2 Staf
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| Financial Plan Chapter15.2.4 Raw
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SalTabCusteTheMsunuMguSizaUguiLemSi
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| Financial Plan Chapter15.4 Tariff
Page 91 and 92: | Financial Plan Chapter15.5 Subsid
Page 93 and 94: | Financial Plan Chapter15.7 Challe
Page 95 and 96: Table 15.12: Umgeni Water Income St
Page 97 and 98: | Financial Plan ChapterTable 15.14
Page 101 and 102: Table 15.18: Umgeni Water Cash Flow
Page 103 and 104: Table 15.20: Msinsi Holdings Balanc
Page 105 and 106: Table 15.22: Umgeni Water Services
Page 109 and 110: Table 15.26: Group Cash Flow Statem
Page 111 and 112: | Financial Plan Chapter15.9 Capita
Page 113 and 114: | Financial PlanChapterFigure 15. .
Page 115 and 116: | Financial Plan ChapterProject Cat
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Page 119 and 120: Table 15.34: Rural Project Evaluati
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Page 125 and 126: | Debt Management and Funding Requi
Page 127 and 128: | Debt Management and Funding Requi
Page 129 and 130: | DebtManagement andd Fundingg Requ
Page 131 and 132: 16.1.6 Debt Curve| Debt Management
Page 133 and 134: | DebtManagement andd Fundingg Requ
Page 135 and 136: | Materiality and significance fram
Page 137 and 138: | Financial Ratios ChapterChapter 1
Page 139 and 140: Table 18.2: Group Financial Ratios|
Page 141: | Self-Evaluation Staatement onFina
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Page 147 and 148: | Self-Evaluation Statement on Fina
Page 149 and 150: | Bank Accounts Chapter19.7 Analysi
Page 151 and 152: | Analysis of o RiskRksChapterChapt
Page 153 and 154: | Analysis of Risks Chapter# Risk a
Page 155 and 156: | Organisational Scorecard: Key Per
Page 165 and 166: | DeclarationChapterChapter 23.Decl
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