Reviewed group results for the year
ended 31 December 2011

Salient features

	Quarter ended (Unaudited)			Year ended 31 December
Rm	31 December 2011	30 September 2011	31 December 2010	2011 Reviewed	2010 Audited
Reconciliation of earnings before interest, taxation,
depreciation and amortisation (EBITDA)
(Loss)/profit from operations	(285)	(347)	(563)	297	2 151
Adjusted for:
– Depreciation	363	346	339	1 409	1 360
– Amortisation of intangible assets	4	4	3	14	11
EBITDA for the period	82	3	(221)	1 720	3 522
Reconciliation of headline (loss)/earnings
(Loss)/profit for the period	(184)	(462)	(497)	8	1 345
Adjusted for:
– (Profit)/loss on disposal or scrapping of assets	(104)	3		(82)	44
– Tax effect	28	(1)		22	(12)
Headline (loss)/earnings for the period	(260)	(460)	(497)	(52)	1 377
Headline (loss)/earnings per share (cents)
– basic	(65)	(115)	(124)	(13)	343
– diluted	(65)	(115)	(124)	(13)	343
Return on ordinary shareholders’ equity per annum
– Attributable earnings (%)	(3.2)	(8.0)	(8.7)	0.0	6.1
– Headline earnings (%)	(4.6)	(8.0)	(8.7)	(0.2)	6.2
Net cash to equity (%)	0.4	4.1	14.2	0.4	14.2
Share Statistics
Ordinary shares (thousands)
– in issue	401 202	401 202	401 202	401 202	401 202
– weighted average number of shares	401 202	401 202	401 202	401 202	401 202
– diluted weighted average number of shares	401 271	401 259	401 433	401 444	401 532
Share price (closing) (rand)	68.58	59.39	79.22	68.58	79.22
Market capitalisation (R million)	27 514	23 827	31 783	27 514	31 783
Net asset value per share (rand)	56.50	56.93	56.22	56.50	56.22
Dividend per share (cents)
– interim				55	150