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SUN INTERNATIONAL ANNUAL REPORT ’10 18 JOINT REPORT OF THE CHIEF EXECUTIVE AND CHIEF FINANCIAL OFFICER In line with the move toward integrated reporting, we have decided this year to combine the Chief Executive’s and Chief Financial Officer’s reports. Our report is structured in terms of the eleven key strategic imperatives identified earlier. Boardwalk David Coutts-Trotter Chief Executive Rob Becker Chief Financial Officer
AT A GLANCE FINANCIAL HIGHLIGHTS Without the Chile earthquake and its consequences, revenue would likely have increased by 3% EBITDA decline of 7%, with the EBITDA margin declining 2.2 percentage points to 32.0% AHEPS decline of 18% to 507 cents Dividends resumed at 100 cents per share IN THIS SECTION: 1. SHAREHOLDER DELIVERY REVENUE AND EBITDA (Rm) 2010 Rm ADJUSTED HEADLINE EARNINGS AND DIVIDENDS PER SHARE (cents) 2009 Rm Change % Trading Revenue 7 961 8 041 (1) EBITDA 2 545 2 746 (7) Profit from operations 1 746 2 014 (13) Profit before tax 1 <strong>25</strong>0 1 456 (14) Adjusted headline earnings 512 600 (15) Ordinary share performance Adjusted headline earnings per share (cents) 512 626 (18) Diluted adjusted headline earnings per share (cents) 507 618 (18) Dividend per share (cents) 100 – – Loan covenant ratios Debt to EBITDA (times) 2.4 2.3 EBITDA to interest (times) 4.7 4.0 Market share price at 30 June 82.50 76.34 Trading and group operating performance p21 Dividends p29 Managing our financial position p29 Cash flows p32 Corporate finance activities p32 19
Page 1 and 2: ANNUAL REPORT 2010
Page 3 and 4: ABOUT THE INTEGRATED REPORT This re
Page 5 and 6: Carnival City AFRISUN GAUTENG 85% 8
Page 7 and 8: Monticello
Page 9 and 10: KEY STRATEGIC IMPERATIVES 3. OUR CU
Page 11 and 12: Energy management Communities Publi
Page 13 and 14: Non-Executive Directors MP (MIKE) E
Page 15 and 16: KH (Kele) Mazwai (41) / GROUP HUMAN
Page 17 and 18: INTRODUCTION This past year has onc
Page 19: Morula APPRECIATION On behalf of th
Page 23 and 24: TRADING AND GROUP OPERATING PERFORM
Page 25 and 26: Operational overview - Casinos and
Page 27 and 28: GrandWest JOINT REPORT OF THE CHIEF
Page 29 and 30: Gaming taxes by province and countr
Page 31 and 32: DIVIDENDS 1. SHAREHOLDER DELIVERY T
Page 33 and 34: JOINT REPORT OF THE CHIEF EXECUTIVE
Page 35 and 36: The Royal Livingstone 33
Page 37 and 38: AT A GLANCE 2. PROTECT OUR BUSINESS
Page 39 and 40: By the end of February, the number
Page 41 and 42: WILD COAST SUN The local community
Page 43 and 44: Our market share South Africa Gamin
Page 45 and 46: We estimate that the group’s shar
Page 47 and 48: Carnival City 45
Page 49 and 50: OUR OBJECTIVES IN THIS SECTION: JOI
Page 51 and 52: FEEDBACK ON THE CM INITIATIVES/PROJ
Page 53 and 54: 51 51
Page 55 and 56: AT A GLANCE WHAT WE ACHIEVED Final
Page 57 and 58: CAPITAL COMMITMENTS Capital commitm
Page 59 and 60: AT A GLANCE JOINT REPORT OF THE CHI
Page 61 and 62: CONCESSIONAIRES Our concessionaires
Page 63 and 64: AT A GLANCE IN THIS SECTION: JOINT
Page 65 and 66: In line with global trends for lead
Page 67 and 68: JOINT REPORT OF THE CHIEF EXECUTIVE
Page 69 and 70: Beneficiaries of training 2010 Bene
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Training investment model JOINT REP
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JOB PROFILING Also forming part of
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Occupational hygiene and legionella
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OUR OBJECTIVES JOINT REPORT OF THE
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The table below sets out the direct
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MANAGEMENT JOINT REPORT OF THE CHIE
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JOINT REPORT OF THE CHIEF EXECUTIVE
Page 85 and 86:
GOLDEN VALLEY CASINO & LODGE’S EN
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INCIDENTS JOINT REPORT OF THE CHIEF
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Efforts to establish the Nedbank Go
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Our property ratings Rm 2010 2009 2
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JOINT REPORT OF THE CHIEF EXECUTIVE
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AT A GLANCE JOINT REPORT OF THE CHI
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SHAWCO - This student-run NGO at th
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REGULATORY COMPLIANCE The South Afr
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OUR COMMITMENT CORPORATE GOVERNANCE
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Principle Action Outcome Independen
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The group’s governance is facilit
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The chief executive is mandated and
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Board meetings A minimum of four bo
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The audit committee is primarily re
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The committee has adopted a written
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The key risks that are identified,
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Internal control The board of direc
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The group has continued to actively
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Group 2010 2009 2008 2007 2006 2005
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Group statistics 2010 2009 2008 200
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Types of shareholders at 30 June 20
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principles of inclusivity, material
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The board and the remuneration comm
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Prior to the commencement of the re
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the travel and leisure sector that
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Share plan Date of grant Grant pric
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Emoluments Executive directors’ r
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for the year ended 30 June NOTES TO
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The annual financial statements whi
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TO THE MEMBERS OF SUN INTERNATIONAL
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HOLDING COMPANY The company has no
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which the entity operates (the func
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elating to certain firm commitments
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expenditure represents the total co
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government and other government rel
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GROUP STATEMENTS OF FINANCIAL POSIT
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Notes GROUP STATEMENTS OF CHANGES I
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for the year ended 30 June Operatin
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Page 165 and 166:
14. PROPERTY, PLANT AND EQUIPMENT (
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15. INTANGIBLE ASSETS (continued) S
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for the year ended 30 June 18. RETI
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Page 173 and 174:
Page 175 and 176:
Page 177 and 178:
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for the year ended 30 June 27. PROV
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for the year ended 30 June 28. CASH
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29. FINANCIAL INSTRUMENTS (continue
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32. RELATED PARTY TRANSACTIONS Key
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32. RELATED PARTY TRANSACTIONS (con
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NOTES TO THE GROUP FINANCIAL STATEM
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Page 195 and 196:
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COMPANY STATEMENTS OF FINANCIAL POS
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COMPANY STATEMENTS OF CHANGES IN EQ
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NOTES TO THE COMPANY FINANCIAL STAT
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Page 207 and 208:
Notice is hereby given that the twe
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Litigation statement The directors
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SUN INTERNATIONAL LIMITED (Incorpor
Page 213 and 214:
SUN INTERNATIONAL LIMITED Incorpora
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