e r 2 - Umgeni Water

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Chapter| Self-Evaluation Statement on FinancialViabilityofUmgeniWaterFigure19.10:Net Leverage Ratioo1.8001.6001.401001.201001.001000.800000.6000.400000.20000-NetLeverage Ratio1. .59550.91990.4000 0 .4544 0.50 0 07 0 0.657 0.6560.467 0.51920088 20099 20100 201121 20122 20133 20144 2015 2016The net leverageratio isexpectedd to rise to 0.657 timesinF’ ’14 due to the increasee inimpairmentss andthereaftercontinues itss downwardtrend.Pagee 144Umgeni WateWer Five-Year Business Plann | 201121/2012to 2015/2016
| Self-Evaluation Statement on Financial Viability of Umgeni Water Chapter19.5 Business Segment informationTable 19.3: Business Segment Operating ProfitBusiness Segment Operating Profit2010 2011 2012R'000 R'000 R'000Bulk 583 (21%) 462 19% 548WW 15 (22%) 12 (10%) 11S30 21 (70%) 6 75% 11620 (23%) 480 19% 570Bulk SegmentIt is anticipated that in F’11 the impact of the negative volume growth coupled with the increase in impairmentsand operating cost will result in a decrease in the operating profit by 21%.However in F’12 the operating profit margin reverts to a positive % owing to the completion of the amortisation ofthe Reticulation financial.WW SegmentThe bulk wastewater segment is not projected to show growth owing to the high operating costs with relativelylow management fee increases.S30 SegmentAn analysis of the S30 segment in terms of the projects is shown in Table 26.3.Table 19.4: Analysis of the S30 segment.F'09ActualR’000F'10ActualR’000F'11ForecastR’000F'12BudgetR’000Revenue - Section 30 184 012 204 148 213 603 295 594Sect 30 - Revenue : Laboratory Services 4 022 3 199 3 500 3 700Sect 30 - Revenue : Research 1 845 563 1 110 780Sect 30 - Revenue : Scientific & Environ 11 646 14 553 18 542 -Sect 30 - Revenue : Sanitation 128 435 123 401 50 806 -Sect 30 - Revenue : Water Infrastructure 24 986 47 230 125 985 234 510Sect 30 - Revenue : O & M Contracts 13 078 15 202 13 660 56 604Cost of Sales -Section 30 141 132 169 537 186 373 225 259Sect 30 - Laboratory Services 1 876 1 363 1 800 1 903Sect 30 - Projects : Research 1 742 630 1 110 780Sect 30 - Projects : Scientific & Environ 10 821 13 366 17 317 -Sect 30 - Projects : Sanitation 102 325 108 883 47 757 -Sect 30 - Projects : Water Infrastructure 24 369 45 296 118 388 222 576Sect 30 - Projects : O & M Contracts - - - -Other Direct Costs 7 558 7 888 8 188 33 624Gross Profit 35 321 26 723 19 042 36 712Gross Profit % 19.2% 13.1% 8.9% 12.4%Net Admin and operating costs 10 350 5 275 12 602 25 465Operating profit 24 971 21 448 6 440 11 247Although revenue shows relatively good growth, the margins on the work being carried out as an implementingagent has reduced significantly. A bad debt provision of R6m on the Howick WW Operating and maintenancecontract has also contributed to a lower operating profit.Umgeni Water Five-Year Business Plan | 2011/2012 to 2015/2016 Page 145
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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
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| Financial Plan Chapter15.5 Subsid
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| 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
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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 137 and 138: | Financial Ratios ChapterChapter 1
Page 139 and 140: Table 18.2: Group Financial Ratios|
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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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