Condensed segmental analysis

for the year ended 30 September 2022
% change in total
2022
Reviewed
2021
Audited
Rm Total EE ICT AE Other   Total EE ICT AE Other
Revenue1
Segment revenue 11 237 6 266 2 599 2 361 11   9 905 5 551 2 490 1 854 10 13
Adjusted for revenue from equity-accounted joint ventures and associates (108) (94) (7) (7)   (330) (294) (25) (5) (6)
Revenue 11 129 6 172 2 599 2 354 4   9 575 5 257 2 465 1 849 4
Revenue as reported in the statement of profit or loss 11 129   9 575 16
Segment revenue – % of total 100 56 23 21   100 56 25 19
Segment revenue – % change over prior year 13 4 27 10
Analysis of revenue
Category of revenue
Products 9 262 6 026 1 478 1 758   7 632 5 138 1 340 1 154
Services 1 504 146 789 569   1 575 119 785 671
10 766 6 172 2 267 2 327   9 207 5 257 2 125 1 825
Timing of revenue recognition
Revenue recognised at a point in time 9 333 6 135 1 612 1 586   7 911 5 189 1 574 1 148
Revenue recognised over time 1 433 37 655 741   1 296 68 551 677
10 766 6 172 2 267 2 327   9 207 5 257 2 125 1 825
Other revenue
Interest recognised on lease and loan receivables 332 332   340 340
Rental revenue 31 27 4   28 24 4
Total revenue 11 129 6 172 2 599 2 354 4   9 575 5 257 2 465 1 849 4
Revenue by geography
South Africa 7 810 4 011 2 451 1 344 4   6 942 3 447 2 365 1 126 4
Rest of Africa (excluding South Africa) 1 814 1 584 99 131   1 468 1 310 100 58
Asia 650 51 599   477 58 419
Australia 241 204 37   218 189 29
Europe 385 129 48 208   276 95 181
America 229 193 1 35   194 158 36
Total revenue 11 129 6 172 2 599 2 354 4   9 575 5 257 2 465 1 849 4
1 Inter-segment revenue has been eliminated, however, it is immaterial and has not been separately disclosed.
% change in total
2022
Reviewed
2021
Audited
Rm Note Total EE ICT AE Other   Total EE ICT AE Other
Operating profit
Segment operating profit/(loss)1 1 140 436 644 164 (104) 986 373 608 100 (95) 16
Adjusted for operating loss/(profit) from equity-accounted joint ventures and associates 10 11 5 (6) (4) 5 (2) (1) (6)
Profit on disposal of property, plant and equipment and intangible assets 3 1 1 12 3 3 6
Impairment of non-financial assets
Impairment of property, plant and equipment 3 (1) (1)
Fair value remeasurements
Gain on investment at fair value through profit or loss 3 6 6 103 103
Gain on contingent consideration 3 3 3 13 13
Gain on option contract 3 16 16 41 41
Gain/(loss) on option contract 3 59 59 (92) (92)
Gain on put option liability 3 1 1
Financial guarantee cost 3 (4) (4)
Profit on disposal of associate 3 1 1
Loss on disposal of subsidiary 3 (1) (1)
Expenses arising from share-based payment transactions 3 (6) (6) (7) (6) (1)
Operating profit/(loss) before impairment of financial assets 1 226 453 644 249 (120) 1 051 484 600 62 (95)
Reversal of Impairment/ (impairment) of financial assets
Credit write-off 3 (13) (3) (9) (1) (20) (8) (9) (3)
Expected credit losses 3 18 24 9 (12) (3) 19 (23) 29 13
Operating profit/(loss) 1 231 474 644 236 (123) 1 050 453 620 72 (95)
Operating profit as reported in the statement of profit or loss 1 231 1 050 17
Segment operating profit/(loss) – % of total 100 39 56 14 (9) 100 38 62 10 (10)
Segment operating profit/(loss) – % change over prior year 17 6 64 9
1 he net interest charged on Group funding provided to the Group’s in-house finance operation has been eliminated in line with IFRS 10 – Consolidated Financial Statements. The interest eliminated amounted to R137 million (2021: Rnil). Should this operation be externally funded, this would result in a reduction of ICT’s operating profit by the quantum of the external interest paid.

2022 2021
Rm Reviewed % of total Audited % of total
Total assets
EE 2 893 26 2 708 26
ICT 4 277 39 4 334 42
AE 3 284 31 2 755 27
Other 478 4 540 5
Total assets as reported in the statement of financial position1 10 932 100 10 337 100
Total liabilities
EE 1 362 36 1 246 35
ICT 769 21 834 23
AE 991 26 839 24
Other 620 17 636 18
Total liabilities as reported in the statement of financial position1 3 742 100 3 555 100
1 Intercompany receivables, payables and loans have been eliminated in line with the consolidation principles of IFRS.