Seven-year financial review

  Twelve
months
ended
31 March
2017
Rm
  Twelve months
ended
March
2016
Rm
Six
months
ended
March
2016
Twelve months
ended
September
2015
Rm
Twelve months
ended
September
2014
Rm
Twelve months
ended
September
2013
Rm
Twelve months
ended
September
2012
Rm
Twelve months
ended
September
2011
Rm
 
Total assets 18 035   16 389 16 389 15 257 11 575 8 876 6 907 6 419  
Net working capital(a) 1 449   1 119 1 119 978 1 086 1 363 1 184 1 101  
Total equity 8 385   3 563 3 563 3 164 2 418 2 142 1 176 955  
Gross borrowings 5 736   9 171 9 171 8 221 6 091 4 046 3 585 3 510  
EBITDA interest cover (times) 2,79   4,17 3,46 4,56 4,67 6,04 6,22 5,93  
Gross debt to EBITDA (times)(b) 2,78   3,85 3,85 3,48 2,58 1,66 1,54 1,64  
Number of years to repay interest-bearing borrowings(b) 6,72   5,98 5,98 4,45 3,56 1,91 2,17 2,45  
Revenue 9 641   9 187 4 501 9 227 9 039 8 316 7 346 6 826  
Normalised EBITDA(c) 2 074   2 385 1 157 2 424 2 374 2 504 2 327 2 146  
EBITDA(c) margin (%) 21,4   26,0 25,7 26,3 26,3 30,1 31,7 31,4  
Effective rate of taxation (%) 85,0   34,4 30,8 36,6 30,1 35,8 39,9 37,8  
Normalised EPS (cents per share)(d) 47   111 56 148 175 214 185 166  
Normalised HEPS (cents per share)(d) 47   110 56 149 175 215 185 167  
Dividends per share (cents per share)   33 57 114 156 146 130  
Dividend cover (times)   3,5 2,33 1,50 1,14 1,10 1,26  
Cash generated from operations 1 871   2 389 813 2 716 2 583 2 885 2 284 2 102  
Cash conversion ratio(e) 0,91   1,0 0,7 1,1 1,1 1,2 1,0 1,0  
Dividends paid (Rm) 8   321 185 559 880 770 706 876  
Investment in property, plant and equipment and intangible assets 2 077   3 072 1 188 2 892 2 182 970 640 517  
Investment in subsidiaries and equity-accounted investments 18   75 75 108 665 266 214  
Number of shares in issue (millions) 1 592   607 667 605 605 605 551 571  
Weighted average number of ordinary shares in issue during the year (000)(d) 1 137 338   680 086 526 076 526 022 526 180 522 678 524 567 526 754  
(a) Net working capital is calculated as follows: inventory plus trade and other receivables (net trade receivables, other financial receivables and prepayments) less trade and other payables (trade payables and accruals and other financial payables).
(b) March 2016 calculated on a rolling 12-month period for EBITDA and cash from operations.
(c) Normalised EBITDA calculated by adjusting EBITDA for restructuring costs and corporate action.
(d) Prior periods as reported not adjusted for the impact of the rights issue.
(e) Cash conversion ratio is calculated using cash generated from operations divided by EBITDA