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Exxaro Resources Limited
Annual Financial Statements 2021
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Currently viewing: 9.6 Summarised financial information of associates and joint ventures | Next: 9.7 Reconciliation of carrying amounts of investments in associates and joint ventures

CHAPTER 3:
Segmental reporting

  • 9.6 SUMMARISED FINANCIAL INFORMATION OF ASSOCIATES AND JOINT VENTURES

The summarised financial information set out below relates to the associates and JVs that are material to the group, and represents 100% of the entity's financial performance and position, as adjusted to reflect adjustments made by Exxaro when using the equity method.

Associates  Joint venture 
SIOC 
Rm 		 RBCT 
Rm 		 Black 
Mountain 
Rm 		 Mafube 
Rm 		   
Statements of comprehensive income 
For the year ended 31 December 2021 
Revenue  102 092  1 573  8 329  3 296    
Operating expenses  (42 298) (1 575) (6 167) (2 145)   
Net operating profit/(loss) 59 794  (2) 2 162  1 151    
Finance income  763  12  5    
Finance costs  (365) (265) (278) (41)   
Profit/(loss) before tax  60 192  (267) 1 896  1 115    
Income tax (expense)/benefit  (16 367) 77  (539) (381)   
Profit/(loss) for the year  43 825  (190) 1 357  734    
Other comprehensive income/(loss) 827  4  (10)
Total comprehensive income/(loss) for the year  44 652  (186) 1 347  734    
Dividends paid to Exxaro  9 991 
Statements of financial position 
At 31 December 2021 
Non-current assets  49 575  22 960  9 226  3 888    
Current assets  31 666  461  1 365  1 502    
Total assets  81 241  23 421  10 591  5 390    
Equity and liabilities 
Total equity  58 377  19 821  5 191  3 559    
Non-current liabilities  13 924  2 499  4 193  1 376    
Current liabilities  8 940  1 101  1 207  455    
Total equity and liabilities  81 241  23 421  10 591  5 390    
Included above in JVs: 
Cash and cash equivalents  579    
Depreciation and amortisation  285    

 

Associates  Joint venture 
SIOC 
Rm 		 RBCT 
Rm 		 Black 
Mountain 
Rm 		 Mafube 
Rm 		   
Statements of comprehensive income 
For the year ended 31 December 2020 
Revenue  80 104  1 615  5 704  2 127    
Operating expenses  (39 354) (1 402) (4 878) (1 845)   
Net operating profit  40 750  213  826  282    
Finance income  612  125  (9)   
Finance costs  (288) (174) (297) (43)   
Profit before tax  41 074  39  654  230    
Income tax (expense)/benefit  (11 287) 8  (184) (76)   
Profit for the year  29 787  47  470  154    
Other comprehensive (loss)/income  (110) (11) 3 
Total comprehensive income for the year  29 677  36  473  154    
Dividends paid to Exxaro  3 119 
Statements of financial position 
At 31 December 2020 
Non-current assets  45 681  22 947  7 777  3 700    
Current assets  37 005  445  1 417  930    
Total assets  82 686  23 392  9 194  4 630    
Equity and liabilities 
Total equity  62 182  20 014  3 827  2 824    
Non-current liabilities  12 921  2 254  4 239  1 141    
Current liabilities  7 583  1 124  1 128  665    
Total equity and liabilities  82 686  23 392  9 194  4 630    
Included above in JV: 
Cash and cash equivalents  401    
Depreciation and amortisation  255    
Exxaro Group and Company Annual Financial Statements 2021
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CHAPTER 1: THE YEAR IN BRIEF
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The year in brief

CHAPTER 2: REPORTS
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2.1 Responsibility statement on internal financial controls
2.2 Certificate by the group company secretary
2.3 Report of the directors
2.4 Audit committee report
2.5 Independent auditor's report

CHAPTER 3: SEGMENTAL REPORTING
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3.1 Accounting policy relating to segmental reporting
3.2 Significant judgements and assumptions made by management in applying the related accounting policy
3.3 Reportable segments
3.4 Geographic location of segment assets

CHAPTER 4: FINANCIAL STATEMENTS
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4.1.1 Group financial statements of comprehensive income
4.1.2 Group financial statements of financial position
4.1.3 Group financial statements of changes in equity
4.1.4 Group financial statements of cash flows
4.2.1 Company financial statement of comprehensive income
4.2.2 Company financial statement of financial position
4.2.3 Company financial statement of changes in equity
4.2.4 Company financial statement of cash flows

CHAPTER 5: EARNINGS
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5.1 Accounting policy relating to earnings
5.2 Attributable earnings per share
5.3 Reconciliation of headline earnings
5.4 Headline earnings per share
5.5 Dividend distributions
5.6 Notes to the statements of cash flows relating to earnings

CHAPTER 6: OPERATIONAL PERFORMANCE AND WORKING CAPITAL
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6.1 Operational performance
6.2 Working capital
6.3 Notes to the statements of cash flows relating to operational performance and working capital

CHAPTER 7: TAXATION
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7.1 Accounting policies relating to taxation
7.2 Significant judgements and assumptions made by management in applying the related accounting policies
7.3 Income tax (expense)/benefit
7.4 Reconciliation of tax rates
7.5 Deferred tax
7.6 Notes to the statements of cash flows relating to taxation
7.7 Tax effect of other comprehensive income

CHAPTER 8: BUSINESS ENVIRONMENT AND PORTFOLIO CHANGES
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8.1 Accounting policies relating to business environment and portfolio changes
8.2 Significant judgements and assumptions made by management in applying the related accounting policies
8.3 Divestment of non-core assets
8.4 Impairment charges of non-current assets
8.5 Non-current assets and liabilities held-for-sale

CHAPTER 9: ASSOCIATES AND JOINT ARRANGEMENTS
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9.1 Accounting policies relating to investments in associates and joint arrangements
9.2 Significant judgements and assumptions made by management in applying the related accounting policies
9.3 Income from investments in associates and joint ventures
9.4 Investments in associates and joint arrangements
9.5 Movement analysis of investments in associates and joint ventures
9.6 Summarised financial information of associates and joint ventures
9.7 Reconciliation of carrying amounts of investments in associates and joint ventures

CHAPTER 10: ASSETS
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10.1 Property, plant and equipment
10.2 Intangible assets
10.3 Financial assets
10.4 Other assets

CHAPTER 11: LEASES
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11.1 Accounting policies relating to leases
11.2 Judgements and assumptions made by management in applying the related accounting policies
11.3 Right-of-use assets
11.4 Lease liabilities

CHAPTER 12: FUNDING
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12.1 Debt
12.2 Equity

CHAPTER 13: PROVISIONS AND CONTINGENCIES
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13.1 Accounting policies relating to provisions and contingencies
13.2 Significant judgements and assumptions made by management in applying the related accounting policies
13.3 Provisions
13.4 Contingent liabilities

CHAPTER 14: PEOPLE
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14.1 Accounting policies relating to employee benefits
14.2 Significant judgements and assumptions made by management in applying the related accounting policies
14.3 Employee benefits
14.4 Retirement employee obligations
14.5 Directors' and prescribed officers' remuneration

CHAPTER 15: RELATED PARTIES
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15.1 Related-party transactions

CHAPTER 16: FINANCIAL INSTRUMENTS
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16.1 Accounting policies relating to financial instruments
16.2 Judgements and assumptions made by management in applying the related accounting policies
16.3 Financial instruments

CHAPTER 17: SUBSIDIARIES
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17.1 Accounting policies relating to subsidiaries
17.2 Significant judgements and assumptions made by management in applying the related accounting policies
17.3 Transactions with subsidiaries
17.4 Summary of investments in subsidiaries
17.5 Summary of indebtedness by/(to) subsidiaries
17.6 Detailed analysis of investments in subsidiaries
17.7 Non-controlling interests

CHAPTER 18: COMPLIANCE
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18.1 Basis of preparation
18.2 Adoption of new, amended and revised standards and interpretations
18.3 Events after the reporting period

CHAPTER 19: CHANGES TO COMPARATIVE INFORMATION
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19.1 Re-presentation of group comparative information
19.2 Restatement of company comparative information

CHAPTER 20: ANNEXURES
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Annexure 1 Shareholder analysis
Annexure 2 Definitions
Annexure 3 Administration
Annexure 4 Shareholders' diary

ACRONYMS
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Acronyms