A N N U A L   R E P O R T   –   2 0 0 3
Content
Highlights Accounting policies
Letter to shareholders Income statements
Board and governance structure Balance sheets
Group overview Cash flow statements
Building and developing people Notes to the cash flow statements
Corporate governance Statement of changes in equity
Value added statement Notes to the annual financial statements
Segmental analysis Principal subsidiaries
Five-year financial review Share ownership analysis
Summary of statistics Shareholders' diary
Definitions Corporate administration and information
Directors' responsibility Notice of annual general meeting
Report of the independent auditors Currency conversion table
Secretaries' certification Proxy form
Statutory information  
SEGMENTAL ANALYSIS
BUSINESS AND GEOGRAPHIC SEGMENTS
BUSINESS SEGMENTS

For management purposes, the group is currently organised into five operating divisions: Electrical engineering (Circuit Breaker Industries, ATC and African Cables), Office systems (Nashua Office Automation, Nashua Connect and RC&C Finance Company), Consumer products and services (Nashua Mobile, RC&C Holdings and Saco Systems), Information and communication technologies (Siemens Telecommunications and Acuo Technologies) and Reutech. The group overview on pages 8 to 17 gives details of the activities of each division.

These divisions are the basis on which the group reports its primary business segments.

Segment information about these businesses is presented below.

The group’s operations are situated mostly in South Africa, with only immaterial operations situated in the United Kingdom, Germany and the United States of America. It is therefore not considered meaningful to disclose information on geographic segments according to location of operation.
REVENUE INCLUDING ASSOCIATE COMPANIES
Rm

2003

% 2002 % %
change
ELECTRICAL ENGINEERING 1 367,7 18 1 185,1 17 15
ELECTRONICS
Office systems 952,9 13 876,6 12 9
Consumer products and services 3 192,5 42 2 782,1 39 15
Information and communication technologies 1 413,7 19 1 959,5 27 (28)
Reutech 615,7 8 375,3 5 64
Total Electronics 6 174,8 82 5 993,5 83 3
Total operations 7 542,5 100 7 178,6 100 5
Less: Reunert’s attributable portion of
associate companies’ revenue		 (1 438,6) (2 115,7)
Revenue as reported 6 103,9 5 062,9
OPERATING PROFIT BEFORE GOODWILL AMORTISATION INCLUDING ASSOCIATE COMPANIES
Rm 2003 % 2002 % %
change
ELECTRICAL ENGINEERING 195,2 34 122,4 18 60
ELECTRONICS
Office systems 157,4 27 147,2 21 7
Consumer products and services 173,7 30 175,2 25 (1)
Information and communication technologies (64,6) (11) 209,0 30 (131)
Reutech 117,9 20 38,5 6 206
Total Electronics 384,4 66 569,9 82 (33)
Total operations 579,6 100 692,3 100 (16)
Less: Reunert’s attributable portion of
associate companies’ operating loss/(profit)		 74,3 (178,8)
Operating profit before amortisation of
goodwill as reported		 653,9 513,5
TOTAL ASSETS (EXCLUDING CASH AND DEFERRED TAX) INCLUDING ASSOCIATE COMPANIES
Rm 2003 2002
ELECTRICAL ENGINEERING 548,3 566,3
ELECTRONICS
Office systems 1 478,1 1 282,7
Consumer products and services 825,4 933,0
Information and communication technologies 525,2 781,4
Reutech 154,4 147,7
Total Electronics 2 983,1 3 144,8
Total operations 3 531,4 3 711,1
Less: Reunert’s attributable portion of associate companies’ assets (411,5) (715,8)
Total assets (excluding cash and deferred tax) as reported 3 119,9 2 995,3
TRADE AND OTHER PAYABLES, DERIVATIVE LIABILITIES AND PROVISIONS, INCLUDING ASSOCIATE COMPANIES
Rm 2003 2002
ELECTRICAL ENGINEERING 185,3 178,6
ELECTRONICS
Office systems 309,2 214,0
Consumer products and services 602,3 604,6
Information and communication technologies 232,8 286,6
Reutech 199,6 197,9
Total Electronics 1 343,9 1 303,1
Total operations 1 529,2 1 481,7
Less: Reunert’s attributable portion of associate companies’ liabilities (232,4) (303,7)
Trade and other payables, derivative liabilities and provisions, as reported 1 296,8 1 178,0
CAPITAL EXPENDITURE EXCLUDING ASSOCIATE COMPANIES
Rm 2003 2002
ELECTRICAL ENGINEERING 15,1 12,0
ELECTRONICS
Office systems 3,7 3,4
Consumer products and services 19,6 23,0
Information and communication technologies 0,1 0,1
Reutech 6,1 3,5
Total Electronics 29,5 30,0
Capital expenditure as reported 44,6 42,0
DEPRECIATION EXCLUDING ASSOCIATE COMPANIES
Rm 2003 2002
ELECTRICAL ENGINEERING 29,5 24,8
ELECTRONICS
Office systems 3,7 1,9
Consumer products and services 20,8 17,3
Information and communication technologies 0,1 –
Reutech 4,3 2,2
Total Electronics 28,9 21,4
Depreciation as reported 58,4 46,2
AMORTISATION EXCLUDING ASSOCIATE COMPANIES
Rm 2003 2002
ELECTRICAL ENGINEERING (0,8) 1,0
ELECTRONICS
Office systems 3,8 2,2
Consumer products and services 29,4 26,7
Information and communication technologies 13,8 11,5
Reutech – –
Total Electronics 47,0 40,4
Amortisation as reported 46,2 41,4
NUMBER OF EMPLOYEES EXCLUDING ASSOCIATE COMPANIES
  2003 2002
ELECTRICAL ENGINEERING 2 322 1 926
ELECTRONICS
Office systems 444 391
Consumer products and services 1 427 1 210
Information and communication technologies 10 9
Reutech 715 782
Total Electronics 2 596 2 392
Number of employees as reported 4 918 4 318
< Prev Next >
back to the top...
© Copyright - Reunert - 2003