Integrated report 2019
Exxaro Resources Limited
Group and company annual financial statements
for the year ended 31 December 2019
| Voting power of non-controlling interests |
Profit/(loss) allocated to non-controlling interests |
Accumulated non-controlling interests |
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| Principal place of business |
2019 % |
2018 % |
2019 Rm |
2018 Rm |
2019 Rm |
2018 Rm |
||||
|---|---|---|---|---|---|---|---|---|---|---|
| Subsidiaries with non-controlling interests | ||||||||||
| Eyesizwe (RF) Proprietary | ||||||||||
| Limited1 | Gauteng | 75.14 | 289 | 8 758 | ||||||
| Dorstfontein Coal Mines | ||||||||||
| Proprietary Limited | Mpumalanga | 26.00 | 26.00 | (29) | 36 | (647) | (619) | |||
| Other | (4) | (82) | ||||||||
| Total non-controlling interests | 260 | 32 | 8 111 | (701) | ||||||
| Movement analysis of non-controlling interests: | ||||||||||
| Balance at beginning of the year | (701) | (738) | ||||||||
| Total comprehensive income | 251 | |||||||||
| Share of profit for the year | 260 | 32 | ||||||||
| Share of other comprehensive income for the year | (9) | |||||||||
| Changes in ownership interest | 8 561 | 5 | ||||||||
| Disposal of subsidiary (Eloff) | (10) | |||||||||
| Correction of NCI2 | 15 | |||||||||
| Loss on loss of control of subsidiary3 | 82 | |||||||||
| Initial recognition of BEE NCI1 | 8 479 | |||||||||
| Closing balance at the end of the year | 8 111 | (701) | ||||||||
| 1 | Recognition of the NCI’s share of Eyesizwe’s net asset value upon the exercise of the option held by the BEE Parties. |
| 2 | NCI share of an error which was identified at a subsidiary company level. |
| 3 | Derecognition of NCI reserve upon the loss of control of Tumelo. |
No dividends were paid during 2019 or 2018.
| Eyesizwe (RF) Proprietary Limited |
Dorstfontein Coal Mines Proprietary Limited |
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| 2019 Rm |
2019 Rm |
2018 Rm |
||
|---|---|---|---|---|
| Statements of financial position | ||||
| At 31 December | ||||
| Non-current assets | 11 652 | 2 418 | 1 652 | |
| Current assets | 5 | 131 | 458 | |
| Total assets | 11 657 | 2 549 | 2 110 | |
| Non-current liabilities | 4 866 | 3 950 | ||
| Current liabilities | 1 | 172 | 539 | |
| Total liabilities | 1 | 5 038 | 4 489 | |
| Net assets/(liabilities) | 11 656 | (2 489) | (2 379) | |
| Accumulated non-controlling interests | 8 758 | (647) | (619) | |
| For the two-month period ended 31 December |
For the 12 months ended 31 December |
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| 2019 Rm |
2019 Rm |
2018 Rm |
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|---|---|---|---|---|---|---|
| Statements of comprehensive income | ||||||
| Revenue | 1 324 | 1 685 | ||||
| Net operating (loss)/profit | (1) | (75) | 180 | |||
| Income from equity-accounted investments | 384 | |||||
| Net finance costs | (36) | (46) | ||||
| Profit/(loss) for the year | 384 | (110) | 139 | |||
| Other comprehensive loss | (11) | |||||
| Total comprehensive income/(loss) for the year | 373 | (110) | 139 | |||
| Profit/(loss) attributable to: | 384 | (110) | 139 | |||
| Owners of the parent | 95 | (81) | 103 | |||
| Non-controlling interests | 289 | (29) | 36 | |||
| Total comprehensive income attributable to: | 373 | (110) | 139 | |||
| Owners of the parent | 93 | (81) | 103 | |||
| Non-controlling interests | 280 | (29) | 36 | |||
| Statements of cash flows | ||||||
| Cash flows from operating activities | (212) | 295 | ||||
| Cash flows from investing activities | (549) | (230) | ||||
| Cash flows from financing activities | 776 | (66) | ||||
| Net increase/(decrease) in cash and cash equivalents | 15 | (1) | ||||
