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TELKOM SA SOC LIMITED - Abridged financial report for the year ended 31 March 2013, posting of Integrated Annual Report and notice of Annual

Release Date: 30/08/2013 09:17
Code(s): TKG     PDF:  
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Abridged financial report for the year ended 31 March 2013, posting of Integrated Annual Report and notice of Annual

Telkom SA SOC LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1991/0054776/30)
JSE CODE: TKG
ISIN CODE: ZAE000044897
(“Telkom” or “the Company” or “Group”)


Abridged financial report for the year ended 31 March 2013, posting of Integrated
Annual Report and notice of Annual General Meeting


1.   Update on the statement of financial position as at 31 March 2013


Shareholders of Telkom (“Shareholders”) are advised that the Company’s Integrated Annual
Report containing the Group audited financial statements for the year ended 31 March 2013
was posted on Thursday, 29 August 2013. There has been no change from the audited
provisional results for the year ended 31 March 2013, which were published on 15 June
2013; except for a re-classification between tangible and intangibles assets on the statement
of financial position (refer to page 145 of the Integrated Report, or page 110 of the Abridged
Report). The reclassification is as a result of the allocation of a portion of the impairment of
intangible assets to tangible assets. The Integrated Annual Report will be made available on
the Company’s website on www.telkom.co.za/ir.


Accordingly the abridged statement of financial position as at 31 March 2013 is as follows:


Abridged consolidated statement of financial position as at 31 March 2013


                                                              Audited              Audited
                                                                   2013               2012
                                                                     Rm                 Rm
                                        Notes
 Assets
 Non-current assets                                              29 989             42 362
 Property, plant and equipment                1                  24 524             36 155
 Intangible assets                            2                   2 581              3 555
 Investments                                                      2 492              2 260
 Deferred expenses                                                   50                 47
Other financial assets                                               83                 48
Finance lease receivables                                           219                244
Deferred taxation                                                    40                 53

Current assets                                                   11 638             10 206
Inventories                                                       1 166                993
Income tax receivable                                                16                 26
Current portion of finance lease
                                                                    131                128
receivables
Trade and other receivables                                        5 804             5 696
Other financial assets                                             2 134             2 195
Cash and cash equivalents                                          2 387             1 168

Total assets                                                      41 627            52 568

Equity and liabilities
Equity attributable to owners
                                                                  17 850            29 707
of the parent  
Share capital                                                      5 208             5 208
Treasury shares                                                     (771)            (771)
Non-distributable reserves                                         2 164             1 887
Retained earnings                                                 11 249            23 383

Non-controlling interests                                            379               434
Total equity                                                      18 229            30 141

Non-current liabilities                                           10 268            12 718
Interest-bearing debt                                              3 899             5 897
Other financial liabilities                                           12                26
Employee related provisions                                        5 150             4 880
Non-employee related provisions                                      238                36
Deferred revenue                                                     952             1 132
Deferred taxation                                                     17               747

Current liabilities                                               13 130             9 709
Trade and other payables                                           4 661             4 291
Shareholders for dividend                                             22                23
Current portion of interest-bearing
                                                                   2 758             1 289
debt
Current portion of employee related
                                                                   2 605             1 652
provisions
 Current portion of non-employee
                                                                     786               240
 related provisions
 Current portion of deferred revenue                               1 740             1 995
 Income tax payable                                                  501                87
 Other financial liabilities                                          54               129
 Credit facilities utilised                                            3                 3


 Total liabilities                                                23 398            22 427

 Total equity and liabilities                                     41 627            52 568



        Notes:
        1.       Property plant and equipment decreased from R24,956 million to R24,524
                 million as a portion of the impairment was reallocated from intangible assets
                 to property, plant and equipment.
        2.       Intangible assets increased from R2,148 million to R2, 581 million as a
                 portion of the impairment was reallocated from intangible assets to property,
                 plant and equipment.


2.   Annual General Meeting


Notice is hereby given that the 21st annual general meeting of the company will be held in
The Gallagher Grill, Gallagher Convention Centre, 19 Richards Drive, Midrand, South Africa
on Friday, 27 September 2013 at 09:00.


The record date for Shareholders to attend, participate in and vote at the annual general
meeting is Friday, 20 September 2013. Accordingly the last day to trade to attend,
participate in and vote at the annual general meeting is Friday, 13 September 2013.


Pretoria
30 August 2013


Sponsor
The Standard Bank of South Africa Limited

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