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Change Statement
African Rainbow Minerals Limited
(Incorporated in the Republic of South Africa)
(Registration number 1933/004580/06)
JSE Share code: ARI
ISIN: ZAE000054045
("ARM" or the "Company")
CHANGE STATEMENT
Shareholders are advised that the audited 2018 Annual Financial
Statements contain the following modification to the reviewed
consolidated provisional financial statements for the year ended
30 June 2018 released on the Stock Exchange News Service (SENS) of
the JSE Limited on Friday, 7 September 2018.
Revenue in the Group statement of profit or loss has been
modified to disclose revenue from discontinued operations
separately. The revenue disclosed in the reviewed
consolidated provisional financial statements released on
SENS on 7 September 2018 included revenue from both continuing
and discontinued operations (i.e. total operations).
Impact of split on Continuing Discontinued Total
Revenue (R' million) operations operations operations
Modified and published in 9 263 340 9 603
the audited 2018 Annual
Financial Statements
issued on 30 October 2018
Published in the reviewed
consolidated provisional financial
statements released
on 7 September 2018 9 603 0 9 603
Difference 340 (340) 0
As required by International Financial Reporting Standards (IFRS)
5, discontinued operations should be excluded from all items of
profit and loss and disclosed as a separate line.
Results from discontinued operations, as reported on 7 September
2018, have been correctly excluded from all other line items and
notes in the reviewed consolidated provisional financial statements,
including the comparative amounts.
The revenue line disclosed in the Group statement of profit or loss
is for the purpose of compliance with IFRS. This amount
- is not additive in nature in the Group statement of
profit or loss or any other statement or note; and
- has no impact on the Group's net profit or earnings per
share calculations.
The abridged Group statement of profit or loss for the year ended
30 June 2018 is therefore as follows:
Group statement of profit or loss
for the year ended 30 June 2018
F2018 F2017
Rm Rm
Notes Reviewed Audited
Revenue - continuing operations 9 263 9 019
Revenue - discontinued operations 340 600
Continuing operations
Sales 8 346 8 158
Cost of sales (6 900) (6 951)
Gross profit 1 446 1 207
Other operating income* 12 1 527 757
Other operating expenses (1 263) (1 750)
Profit from operations before special items 1 710 214
Income from investments 177 238
Finance costs (360) (423)
Income from associate* 13 619 181
Income from joint venture** 8 3 510 3 265
Profit before taxation and special items 5 656 3 475
Special items before tax 6 (42) (2 322)
Profit before taxation from continuing operation 5 614 1 153
Taxation 14 (573) 409
Profit for the year from continuing operation 5 041 1 562
Discontinued operation
Loss after tax for the year from discontinued operation 16 (219) (130)
Profit for the year 4 822 1 432
Attributable to:
Equity holders of ARM
Profit for the year from continuing operations 4 747 1 431
Loss for the year from discontinued operation (185) (59)
Basic earnings for the year 4 562 1 372
Non-controlling interest
Profit for the year from continuing operations 294 131
Loss for the year from discontinued operation (34) (71)
260 60
Profit for the year 4 822 1 432
* The restructuring of the ARM coal loans had an impact of
R652 million profit with no tax effect in other operating income and
R325 profit in income from associate with no tax effect (refer notes
10, 11 and 12). Impairment included in income from associate is
R19 million (F2017: nil) less tax of R5 million (F2017: nil).
** Impairments included in income from joint venture of R26 million
before tax of R7 million (F2017: R470 million before tax of R27 million).
Earnings per share 7
Basic earnings per share (cents) 2 393 723
Basic earnings from continuing operations per share (cents) 2 490 754
Basic loss from discontinued operation per share (cents) (97) (31)
Diluted basic earnings per share (cents) 2 325 703
Diluted basic earnings from continuing operations per share (cents) 2 419 733
Diluted basic loss from discontinued operation per share (cents) (94) (30)
The 2018 Annual Financial Statements were audited by the Company's
external auditor, Ernst & Young Inc., and their unmodified report
is available for inspection at ARM's registered office.
Copies of the audited 2018 Annual Financial Statements and the 2018
Integrated Annual Report (including the Notice of Annual General
Meeting) may be obtained from the Company's registered address or
may be requested by emailing ir.admin@arm.co.za.
NOTICE OF ANNUAL GENERAL MEETING
A notice for the 85th Annual General Meeting of shareholders of the
Company has been issued separately on SENS today, 30 October 2018.
For all investor relations queries please contact:
Jongisa Magagula
Corporate Development and Head of Investor Relations
Tel: +27 11 779 1300
E-mail: jongisa.magagula@arm.co.za
Johannesburg
30 October 2018
Sponsor: Investec Bank Limited
Date: 30/10/2018 05:06:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
