Reports
and results

Industrial [photo] 

Financial results

FY2022

Audited results for the year ended 31 March 2022

 
Strategic delivery and financial highlights
  • Disciplined strategy execution enhanced operating performance
  • Optimised supply chain and integrated manufacturing facilities improved reliability and throughput
  • Disciplined cash management in a rising commodity price cycle underpinned strong financial position
  • Prudent capital management resulted in value creation for stakeholders
  • Revenue1 increase 30% to R21 437 million (FY2021: R16 436 million)
  • Operating profit excluding Zimbabwe1 increased 123% to R1 726 million (FY2021: R774 million)
  • Operating profit1 increased 40% to R1 597 million (FY2021: R1 138 million)
  • Operating profit margin excluding Zimbabwe increased 67% to 8.2% (FY2021: 4.9%)
  • Profit after tax1 increased 80% to R1 093 million (FY2021: R607 million)
  • Earnings per share1 increased 79% to 653 cents (FY2021: 364 cents)
  • Headline earnings per share1 increased 86% to 672 cents (FY2021: 361 cents)
  • EBITDA1,2 increased 21% to R2 352 million (FY2021: R1 942 million)
  • Cash position increased 31% to R2 404 million (FY2021: R1 833 million)
  • Net working capital1 increased 18% to R3 335 million (FY2021: R2 820 million)
  • Net asset value increased 3% to R10 018 million (FY2021: R9 739 million)
  • Ordinary dividend declared of 275 cents per ordinary share (FY2021: 200 cents per ordinary share)
  • Special dividend declared of 525 cents per ordinary share (FY2021: 400 cents per ordinary share)
  • Global credit rating Long term A with a stable outlook(FY2021: BBB+)
  • Global credit rating Short term A1 with a stable outlook(FY2021: A2)
Salient features
  • Fatalities employees and contractors - 2 (FY2021: Zero)
  • Recordable case rate (RCR) number of recordable cases or injuries relative to 200 000 working/exposure hours - 0.21 (FY2021: 0.35)
  • First-aid incidents - 66 (FY2021: 85)
  • Lost-time injury incidents1 injuries leading to a person’s inability to perform their regular duties for at least one full shift - 11 (FY2021: 19)
  • Environmental incidents - Zero (FY2021: Zero)
  • Discharged effluent volumes - 175 megalitres (FY2021: 311 megalitres)
  • Energy efficiency despite a 5% increase in production volumes, we achieved a 6% improvement in energy efficiency - 0.29 gigajoules per tonne manufactured (FY2021: 0.31 gigajoules)
  • Water usage efficiency despite a 5% increase in production volumes, we achieved a 9% improvement in water-use efficiency - 0.48 kilolitres per tonne manufactured (FY2021: 0.53 kilolitres)
  • Water recycled or reused - 66 megalitres (FY2021: 51 megalitres)
  • GHG emissions increased due to inefficient conversion in the EnviNOxTM emissions abatement system, which was subsequently repaired - 336 908 tonnes CO2e (FY2021: 261 500 tonnes)
  • B-BBEE rating Level 2 (FY2021: Level 2)
  • CFI Award Omnia Best Sustainable Diversified Chemicals Group Africa 2022 from Capital Finance International. Award for performance in sustainable practices, empowerment initiatives, and technology and innovation
  • CAIA Award BME wins CAIA Responsible Care Award for “Initiative of the Year”
1 From continuing operations.
2 Excludes impairments of R29 million.

Unaudited financial results for the six-month period ended
30 September 2021

 
Strategic delivery and financial highlights
  • Resilient performance in an increasingly complex local and international operating environment
  • Disciplined capital allocation to create long-term stakeholder value
  • Optimised supply chain improved reliability and agility across the value chain
  • Revenue increased to R9.9bn (HY2021: R7.6bn)
  • Operating profit increased to R679m (HY2021: R400m)
  • Profit after tax increased to R467m (HY2021: R213m)
  • EBITDA, excluding impairments increased to R1 042m (HY2021: R773m)
  • Earnings per share increased to 282 cents (HY2021: 128 cents)
  • Headline earnings per share increased to 286 cents (HY2021: 125 cents)
  • Net asset value decreased to R9.3bn (HY2021: R9.6bn)
  • Net cash increased to R719m (HY2021: R1.9bn net debt)
  • Net working capital decreased to R3bn (HY2021: R3.7bn)
Salient features
  • Recordable case rate (RCR) maintained at 0.35
  • B-BBEE rating maintained at level 2
  • BME wins CAIA Responsible Care® Award for used oil recycling initiative and prestigious Indonesian "good mining practices" award
  • Global credit rating improved to long term: A, short term: A1
    with a stable outlook from long-term BBB+, short term: A2 with a stable outlook
  • Group GHG emissions improved to 113 829 tonnes of CO2e
  • Broad-based employee share scheme implemented

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