Financials
Statement of profit or loss and other comprehensive income
for the year ended 31 March 2018
Group | Company | |||||||||
Notes | 2018 Rm |
2017 Rm |
2018 Rm |
2017 Rm |
||||||
---|---|---|---|---|---|---|---|---|---|---|
Operating revenue | 4 | 41 018 | 40 970 | 38 336 | 35 422 | |||||
Payments to other operators | 2 606 | 2 618 | 2 554 | 2 627 | ||||||
Cost of sales | 6 256 | 6 498 | 3 653 | 3 669 | ||||||
Enterprise subcontracting costs* | – | – | 11 671 | 5 513 | ||||||
Net operating revenue | 32 156 | 31 854 | 20 458 | 23 613 | ||||||
Other income | 5 | 607 | 734 | 2 024 | 3 017 | |||||
Operating expenses | 22 219 | 21 713 | 16 133 | 16 352 | ||||||
Employee expenses | 6.1 | 10 917 | 10 562 | 5 654 | 6 530 | |||||
Selling, general and administrative expenses | 6.2 | 7 132 | 7 237 | 7 227 | 6 469 | |||||
Service fees | 6.3 | 3 054 | 2 869 | 2 184 | 2 492 | |||||
Operating leases | 6.4 | 1 116 | 1 045 | 1 068 | 861 | |||||
EBITDA | 10 544 | 10 875 | 6 349 | 10 278 | ||||||
Depreciation of property, plant and equipment | 6.5 | 4 780 | 4 752 | 4 419 | 4 458 | |||||
Amortisation of intangible assets | 6.5 | 778 | 766 | 622 | 628 | |||||
Write-offs, impairment/(reversals) and losses of property, plant and equipment and intangible assets | 6.5 | 47 | 143 | 24 | 143 | |||||
Operating profit | 4 939 | 5 214 | 1 284 | 5 049 | ||||||
Investment income and income from associates | 7 | 203 | 219 | 785 | 522 | |||||
Finance charges and fair value movements | 8 | 851 | 888 | 785 | 801 | |||||
Finance charges | 893 | 618 | 847 | 558 | ||||||
Foreign exchange and fair value movements | (42) | 270 | (62) | 243 | ||||||
Profit before taxation | 4 291 | 4 545 | 1 284 | 4 770 | ||||||
Taxation | 9 | 1 133 | 691 | (48) | 65 | |||||
Profit for the year | 3 158 | 3 854 | 1 332 | 4 705 | ||||||
Other comprehensive income | ||||||||||
Items that will be reclassified subsequently to profit or loss | ||||||||||
Exchange losses on translating foreign operations | 24 | (22) | (61) | – | – | |||||
Items that will not be reclassified to profit or loss | ||||||||||
Defined benefit plan actuarial losses** | 29 | (652) | (30) | (652) | (32) | |||||
Defined benefit plan asset ceiling limitation | 29 | – | (6) | – | (6) | |||||
Other comprehensive loss for the year, net of taxation | (674) | (97) | (652) | (38) | ||||||
Total comprehensive income for the year | 2 484 | 3 757 | 680 | 4 667 | ||||||
Profit attributable to: | ||||||||||
Owners of Telkom | 3 052 | 3 797 | 1 332 | 4 705 | ||||||
Non-controlling interests | 106 | 57 | – | – | ||||||
Profit for the year | 3 158 | 3 854 | 1 332 | 4 705 | ||||||
Total comprehensive income attributable to: | ||||||||||
Owners of Telkom | 2 378 | 3 700 | 680 | 4 667 | ||||||
Non-controlling interests | 25 | 106 | 57 | – | – | |||||
Total comprehensive income for the year | 2 484 | 3 757 | 680 | 4 667 | ||||||
Basic earnings per share (cents) | 10 | 602.3 | 738.8 | |||||||
Diluted earnings per share (cents) | 10 | 589.7 | 724.1 | |||||||
* | Subcontracting costs relating to Enterprise customers which were sold to BCX on 1 November 2016 from Telkom, refer to note 4. |
** | No deferred tax balance raised on the OCI movements due to the limitation of the Telkom deferred tax asset. |