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| Notes | 30 June 2022 Rm |
30 June 2021 Rm |
||||
| ASSETS | ||||||
| Non-current assets | ||||||
| Property, plant and equipment | 9 621 | 8 244 | ||||
| Investment properties | 24 | 24 | ||||
| Intangible assets | 63 | 76 | ||||
| Deferred tax assets | 215 | 274 | ||||
| Loans and long-term receivables | 5 | – | 40 | |||
| Other financial assets | 12 | 214 | 193 | |||
| Investment in associate | 6 | 2 048 | 534 | |||
| Investment in joint venture | 7 | 22 145 | 20 938 | |||
| Other investments | 10 | 4 104 | 4 210 | |||
| Non-current inventories | 52 | – | ||||
| 38 486 | 34 533 | |||||
| Current assets | ||||||
| Inventories | 343 | 467 | ||||
| Trade and other receivables | 11 | 7 737 | 7 825 | |||
| Taxation | 116 | 70 | ||||
| Financial assets | 12 | 830 | 523 | |||
| Cash and cash equivalents | 13 | 11 659 | 9 671 | |||
| 20 685 | 18 556 | |||||
| Total assets | 59 171 | 53 089 | ||||
| EQUITY AND LIABILITIES | ||||||
| Capital and reserves | ||||||
| Ordinary share capital | 11 | 11 | ||||
| Share premium | 5 267 | 5 212 | ||||
| Treasury shares | (2 405) | (2 405) | ||||
| Other reserves | 2 668 | 2 915 | ||||
| Retained earnings | 40 617 | 34 461 | ||||
| Equity attributable to equity holders of ARM | 46 158 | 40 194 | ||||
| Non-controlling interest | 4 205 | 3 582 | ||||
| Total equity | 50 363 | 43 776 | ||||
| Non-current liabilities | ||||||
| Long-term borrowings | 14 | 305 | 1 105 | |||
| Deferred tax liabilities | 3 226 | 2 968 | ||||
| Long-term provisions | 22 | 1 979 | 1 883 | |||
| 5 510 | 5 956 | |||||
| Current liabilities | ||||||
| Trade and other payables | 2 148 | 1 940 | ||||
| Short-term provisions | 716 | 898 | ||||
| Taxation | 255 | 155 | ||||
| Overdrafts and short-term borrowings – interest bearing | 14 | 40 | 57 | |||
|
14 | 139 | 307 | |||
| 3 298 | 3 357 | |||||
| Total equity and liabilities | 59 171 | 53 089 |
for the year ended 30 June
| Notes | F2022 Rm |
F2021 Rm |
||
| Revenue | 3 | 18 406 | 21 457 | |
|---|---|---|---|---|
| Sales | 3 | 16 917 | 19 657 |
|
| Cost of sales | (7 660) | (7 900) | ||
| Gross profit | 9 257 | 11 757 | ||
| Other operating income | 16 | 1 983 | 2 378 | |
| Other operating expenses | 17 | (3 239) | (2 717) | |
| Profit from operations before capital items | 8 001 | 11 418 | ||
| Income from investments | 685 | 487 | ||
| Finance costs | (290) | (329) | ||
| Income/(loss) from associate | 18 | 927 | (260) | |
| Income from joint venture | 7 | 6 649 | 7 498 | |
| Profit before taxation and capital items | 15 972 | 18 814 | ||
| Capital items before tax | 8 | 1 128 | (9) | |
| Profit before taxation | 17 100 | 18 805 | ||
| Taxation | 19 | (2 736) | (3 333) | |
| Profit for the year | 14 364 | 15 472 | ||
| Attributable to: | ||||
| Equity holders of ARM | ||||
| Profit for the year | 12 426 | 12 626 | ||
| Basic earnings for the year | 12 426 | 12 626 | ||
| Non-controlling interest | ||||
| Profit for the year | 1 938 | 2 846 | ||
| 1 938 | 2 846 | |||
| Profit for the year | 14 364 | 15 472 | ||
| Earnings per share | ||||
| Basic earnings per share (cents) | 9 | 6 343 | 6 464 | |
| Diluted basic earnings per share (cents) | 9 | 6 338 | 6 399 |
for the year ended 30 June
| Financial instruments at fair value through other compre- hensive income Rm |
Other Rm |
Retained earnings Rm |
Total share- holders of ARM Rm |
Non- controlling interest Rm |
Total Rm |
||
| For the year ended 30 June 2021 | |||||||
| Profit for the year to 30 June 2021 | – | – | 12 626 | 12 626 | 2 846 | 15 472 | |
| Other comprehensive income that will not be reclassified to the statement of profit or loss in subsequent periods | |||||||
| Net impact of revaluation of listed investment | (1 107) | – | – | (1 107) | – | (1 107) | |
| Revaluation of listed investment1 | (1 426) | – | – | (1 426) | – | (1 426) | |
| Deferred tax on above | 319 | – | – | 319 | – | 319 | |
| Other comprehensive income that may be reclassified to the statement of profit or loss in subsequent periods | |||||||
| Foreign currency translation reserve movement | – | (161) | – | (161) | – | (161) | |
| Total other comprehensive loss | (1 107) | (161) | – | (1 268) | – | (1 268) | |
| Total comprehensive (loss)/income for the year | (1 107) | (161) | 12 626 | 11 358 | 2 846 | 14 204 | |
| For the year ended 30 June 2022 | |||||||
| Profit for the year to 30 June 2022 | – | – | 12 426 | 12 426 | 1 938 | 14 364 | |
| Other comprehensive income that will not be reclassified to the statement of profit or loss in subsequent periods | |||||||
| Net impact of revaluation of listed investment | (49) | – | – | (49) | – | (49) | |
| Revaluation of listed investment1 | (59) | – | – | (59) | – | (59) | |
| Deferred tax on above | 10 | – | – | 10 | – | 10 | |
| Other comprehensive income that may be reclassified to the statement of profit or loss in subsequent periods | |||||||
| Foreign currency translation reserve movement | – | 97 | – | 97 | – | 97 | |
| Total other comprehensive (loss)/income | (49) | 97 | – | 48 | – | 48 | |
| Total comprehensive (loss)/income for the year | (49) | 97 | 12 426 | 12 474 | 1 938 | 14 412 |
| 1 | The share price of Harmony decreased from R52.76 per share at 30 June 2021 to R51.97 at 30 June 2022 and decreased from R71.86 at 30 June 2020 to R52.76 per share at 30 June 2021. The valuation of the investment in Harmony is based on a level 1 fair value hierarchy in terms of International Financial Reporting Standards (IFRS). |
for the year ended 30 June
| Other reserves | |||||||||
| Share capital and premium Rm |
Treasury shares Rm |
Financial instruments at fair value through other compre- hensive income Rm |
Share- based payments Rm |
Other1 Rm |
Retained earnings Rm |
Total share- holders of ARM Rm |
Non- controlling interest Rm |
Total Rm |
|
| Balance at 30 June 2020 | 4 961 | (2 405) | 3 344 | 884 | 139 | 25 157 | 32 080 | 2 028 | 34 108 |
|---|---|---|---|---|---|---|---|---|---|
| Total comprehensive (loss)/income for the year | – | – | (1 107) | – | (161) | 12 626 | 11 358 | 2 846 | 14 204 |
| Profit for the year to 30 June 2021 | – | – | – | – | – | 12 626 | 12 626 | 2 846 | 15 472 |
| Other comprehensive loss | – | – | (1 107) | – | (161) | – | (1 268) | – | (1 268) |
| Bonus and performance shares issued to employees | 262 | – | – | (332) | – | – | (70) | – | (70) |
| Dividend paid2 | – | – | – | – | – | (3 322) | (3 322) | – | (3 322) |
| Dividend declared to non-controlling interests3 | – | – | – | – | – | – | – | (1 292) | (1 292) |
| Share-based payments expense | – | – | – | 148 | – | – | 148 | – | 148 |
| Balance at 30 June 2021 | 5 223 | (2 405) | 2 237 | 700 | (22) | 34 461 | 40 194 | 3 582 | 43 776 |
| Total comprehensive (loss)/income for the year | – | – | (49) | – | 97 | 12 426 | 12 474 | 1 938 | 14 412 |
| Profit for the year to 30 June 2022 | – | – | – | – | – | 12 426 | 12 426 | 1 938 | 14 364 |
| Other comprehensive (loss)/income | – | – | (49) | – | 97 | – | 48 | – | 48 |
| Bonus and performance shares issued to employees | 55 | – | – | (470) | – | – | (415) | – | (415) |
| Dividend paid2 | – | – | – | – | – | (6 270) | (6 270) | – | (6 270) |
| Dividend declared to non-controlling interests3 | – | – | – | – | – | – | – | (1 315) | (1 315) |
| Share-based payments expense | – | – | – | 175 | – | – | 175 | – | 175 |
| Balance at 30 June 2022 | 5 278 | (2 405) | 2 188 | 405 | 75 | 40 617 | 46 158 | 4 205 | 50 363 |
| 1 | Other reserves consist of the following: |
| F2022 Rm |
F2021 Rm |
F2020 Rm |
|
| Dilution in Two Rivers | (26) | (26) | (26) |
|---|---|---|---|
| Foreign currency translation reserve – Assmang | 120 | 62 | 167 |
| Foreign currency translation reserve – other entities | 52 | 13 | 69 |
| Capital redemption and prospecting loans written off | 28 | 28 | 28 |
| Tamboti assets sale to Two Rivers | (99) | (99) | (99) |
| Total | 75 | (22) | 139 |
| 2 | Interim dividend paid of 1 200 cents (F2021: 1 000 cents) per share and final dividend paid of 2 000 cents (F2021: 700 cents) per share. |
| 3 | Dividends to Impala Platinum and Modikwa non-controlling interests. |
for the year ended 30 June
| Notes | F2022 Rm |
F2021 Rm |
||
| CASH FLOW FROM OPERATING ACTIVITIES |
||||
| Cash receipts from customers | 18 128 | 17 189 | ||
| Cash paid to suppliers and employees | (9 620) | (9 387) | ||
| Cash generated from operations | 20 | 8 508 | 7 802 | |
| Interest received | 601 | 358 | ||
| Interest paid | (46) | (45) | ||
| Taxation paid | (2 303) | (2 291) | ||
| 6 760 | 5 824 | |||
| Dividends received from joint venture | 7 | 5 500 | 4 000 | |
| Dividends received from investments – Harmony | 50 | 82 | ||
| Dividend paid to non-controlling interests | (1 247) | (1 219) | ||
| Dividend paid to shareholders | (6 270) | (3 322) | ||
| Net cash inflow from operating activities | 4 793 | 5 365 | ||
| CASH FLOW FROM INVESTING ACTIVITIES | ||||
| Additions to property, plant and equipment to maintain operations | (1 739) | (1 224) | ||
| Additions to property, plant and equipment to expand operations | (463) | (433) | ||
| Proceeds on disposal of property, plant and equipment | 6 | 3 | ||
| Investments in financial assets | (819) | (308) | ||
| Proceeds from financial assets matured | 523 | 1 124 | ||
| Net cash outflow from investing activities | (2 492) | (838) | ||
| CASH FLOW FROM FINANCING ACTIVITIES | ||||
| Proceeds from exercise of share options | 7 | 44 | ||
| Cash payments to owners to acquire the entity’s shares | (225) | – | ||
| Long-term borrowings raised | – | 264 | ||
| Long-term borrowings repaid | (95) | (461) | ||
| Short-term borrowings repaid | (14) | (187) | ||
| Net cash outflow from financing activities | (327) | (340) | ||
| Net increase in cash and cash equivalents | 1 974 | 4 187 | ||
| Cash and cash equivalents at beginning of year | 9 655 | 5 512 | ||
| Net foreign exchange difference | 14 | (44) | ||
| Cash and cash equivalents at end of year | 11 643 | 9 655 | ||
| Made up as follows: | ||||
| – Available | 13 | 11 053 | 8 849 | |
| – Cash set aside for specific use | 13 | 590 | 806 | |
| 11 643 | 9 655 | |||
| Overdrafts | 14 | 16 | 16 | |
| Cash and cash equivalents per statement of financial position | 11 659 | 9 671 | ||
| Cash generated from operations per share (cents) | 4 343 | 3 994 |