RAND WATER BOARD - Interim results for the six months ended 31 December 2013

Interim results for the six months ended 31 December 2013

RAND WATER BOARD

JSE Code: BIRW

Interim results for the six months ended 31 December 2013

Rand Water is established in terms of the Water Services Act,
1997 (the “Act”). The Government of the Republic of South
Africa, through the Department of Water Affairs and duly
represented by the Minister of Water and Environmental
Affairs, is the sole shareholder of Rand Water. In terms of
the Act, Rand Water's primary activity is the provision of
bulk water supply services (potable bulk water and sanitation
services) within the predetermined service area.


522 Impala Road, Glenvista, 2058, Johannesburg, Gauteng, South
Africa

PO Box 1127, Johannesburg, 2000

Tel: +27 11 682 0911

Fax: +27 11 682 0444

www.randwater.co.za

Rand Water wishes to advise that its interim results for the
six months ended 31 December 2013 are available on its website
www.randwater.co.za

Highlights include:

Revenue: R4.4 billion (16% growth)

EBITDA:   R916 million (27% increase)

EBITDA Margin: 21% (2012: 19%)

Profit: R820 million (28% increase)

Capital Expenditure: R1 billion (2012: R708 million)

Long-term Loans: R2.5 billion

Short-term Loans:     R0 million

Accumulated Reserves: R9.3 billion

Cash generated from Operations increasing by 86% to R507
million mainly as a result of the 9.8% tariff increase
implemented 1 July 2013 and an increase in volume of 5.8%
attributable to higher demand experienced due to the effects
of urbanisation.

The first half of the financial year 2014 resulted in a 39%
increase in Capex and similar performance is expected in the
second half albeit it will be lower than the plan as a result
of delays experienced and unforeseen circumstances stemming
from key projects. It is however anticipated that these
delays would be addressed in the 2014/15 financial year.

Subsequent Events:

In the Government Gazette No.37342 issued on 14 February 2014
the Minister of Water and Environmental Affairs extended the
service area for Rand Water to include the upper Vaal Water
Management area and the entire area of the Province of
Mpumalanga overlapping with the operational area of the
Bushbuckridge Water Board. Due processes are still underway
and will be communicated.



Glenvista

31 March 2013

Date: 31/03/2014 02:58:00 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.