Download Annual Report 2006 - Foskor

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FIVE YEAR REVIEWFoskor GroupAnnualised 9 Months2006 2005 2005 2004 2003 2002KEY DRIVERSAverage exchange rate R/$ 6.37 6.17 6.83 8.98 9.97P205 CFR price ($/ton) 440 399 356 334 338P205 CFR price (R/ton) 2,806 2,461 2,315 2,999 3,370Sulphur FOB price ($/ton) 65 63 59 40 20Sulphur CFR price ($/ton) 85 86 81 53 32Sulphur CFR price (R/ton) 573 574 592 477 314Ammonia CFR price ($/ton) 320 298 241 175 136Rock FOR sales price ($/ton) 59 54 43 39 38Rock sales price (R/ton) 376 324 372 354 379P205 - Production volume(‘000 ton) 626 542 406 575 404 404P205 - Sales volume (‘000 ton) 581 437 328 435 307 320Granular - Production volume(‘000 ton) 190 161 121 297 187 170Granular - Sales volume (‘000 ton) 177 174 130 296 148 169Rock production volume (‘000 ton) 2,528 2,791 2,093 2,642 2,773 2,885Rock sales volume (‘000 ton) 2,606 2,575 1,931 3,017 2,736 2,706INCOME STATEMENT (R million)Revenue 2,574 1,806 1,354 2,051 1,972 2,245Operating profit/(loss) 36 (420) (228) 147 505Net finance expenses and foreigngains/(losses) 39 (8) (99) (223) 31Profit/(loss) before tax 76 (427) (328) (76) 535Taxation (1) (51) 129 72 (173)Net proft/(loss) 75 (478) (198) (3) 362Major cost items (R million)Number of employees (at year end) 1,783 1760 1707 2034 2072Staff costs 401 329 247 331 296 263Repairs and maintenance 258 247 185 265 250 160Depreciation 94 93 70 147 136 88Capex 105 164 133 290 250 822- Normal capital expenditure 123 92- Finance lease 41 41PROFITABILITY RATIOSOperating income to revenue (%) 1% (31)% (11)% 7% 23%Pre-tax margin (%) 3% (32)% (16)% (4)% 24%Revenue per employee (R’000) - p.a. 1,444 1026 770 1201 970 108354
FIVE YEAR REVIEWFoskor GroupAnnualised 9 Months2006 2005 2005 2004 2003 2002BALANCE SHEETProperty, plant and equipment 1,681 1,699 1,967 1,831 1,724Non-current assets 138 138 111 132 112Current assets 1,558 1,266 948 1,159 1,378Total assets 3,376 3,102 3,026 3,121 3,214Non current liabilities 401 338 677 1,082 1,004Current liabilities 500 405 468 481 643Total liabilities 901 743 1,145 1,563 1,647Net assets 2,476 2,359 1,882 1,559 1,567Shareholders’ equity 1,026 909 1,338 1,559 1,567Shareholders’ loan- Non-interest bearing 1,450 1,450 544 – –Total shareholders’ interest 2,476 2,359 1,882 1,559 1,567Interest-bearing debt (net of cash) – – 483 582 389RatiosDebt/equity ratio (%)(debt net of cash) 0% 0% 26% 46% 42%Current assets to current liabilities(ratio) 3.1 3.1 2.0 2.4 2.1CASH FLOW STATEMENTOperating profit/(loss)before workingcapital changes 197 12 (109) 278 605Working capital changes (86) 24 119 119 (154)Cash generated from operations 111 36 11 397 451Net cash inflow/(outflow) fromoperating activities 132 (9) (62) 52 240Net cash (outflow) frominvesting activities (37) (118) (283) (244) (563)Free cash inflow/(outflow) 95 (127) (345) (193) (322)55
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MISSION• We accept our responsibi
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DIRECTORS AND MANAGEMENTList of Dir
Page 6 and 7: CHAIRMAN’S REVIEWOur focus is ong
Page 8 and 9: CHIEF EXECUTIVE OFFICER’S REVIEWW
Page 10 and 11: CHIEF EXECUTIVE OFFICER’S REVIEWW
Page 12 and 13: CHIEF FINANCIAL OFFICER’S REVIEWT
Page 14 and 15: CORPORATE REVIEWBOARD AND BOARD SUB
Page 16 and 17: We take from the earth,and we put b
Page 18 and 19: AUDITORS’ REPORTIndependent audit
Page 20 and 21: REPORT OF THE DIRECTORStechnical, o
Page 22 and 23: BALANCE SHEETas at 31 March 2006COM
Page 24 and 25: STATEMENT OF CHANGES IN EQUITYfor t
Page 26 and 27: PRINCIPAL ACCOUNTING POLICIESThe pr
Page 28 and 29: PRINCIPAL ACCOUNTING POLICIESAssets
Page 30 and 31: PRINCIPAL ACCOUNTING POLICIESHedge
Page 32 and 33: PRINCIPAL ACCOUNTING POLICIESExplan
Page 34 and 35: PRINCIPAL ACCOUNTING POLICIES23.2.4
Page 36 and 37: INCOME NOTES TO STATEMENTTHE FINANC
Page 52 and 53: NOTES INCOME TO STATEMENTTHE FINANC
Page 54 and 55: NOTES INCOME TO STATEMENTTHE FINANC
Page 58 and 59: FIVE YEAR REVIEWFoskor Group3,0Rock
Page 60: ADMINISTRATIONSECRETARY AND REGISTE
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