FIVE-YEAR REVIEW
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2015 364 days |
2014 364 days |
2013 368 days |
2012 366 days |
2011 365 days |
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Pick n Pay Stores Limited |
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Performance measures |
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Continuing operations |
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Turnover growth |
% |
6.1 |
6.5 |
7.1 |
8.1 |
5.1 |
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Gross profit margin |
% |
17.8 |
17.5 |
17.4 |
17.8 |
17.6 |
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Trading profit growth |
% |
22.7 |
18.5 |
(33.2) |
(10.1) |
(13.5) |
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Trading profit margin |
% |
1.9 |
1.6 |
1.4 |
2.3 |
2.8 |
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Profit before tax growth |
% |
44.7 |
3.0 |
(30.9) |
(13.7) |
(25.8) |
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PBTAE growth |
% |
28.6 |
15.9 |
(30.9) |
(13.2) |
(25.6) |
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EBITDA growth |
% |
13.5 |
4.9 |
(13.5) |
(4.0) |
(4.9) |
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Profit margin |
% |
1.3 |
0.9 |
0.9 |
1.4 |
1.8 |
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Headline earnings growth |
% |
27.9 |
24.5 |
(30.7) |
(14.8) |
(17.8) |
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Headline earnings margin |
% |
1.3 |
1.0 |
0.9 |
1.4 |
1.8 |
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Headline earnings per share |
cents |
177.3 |
138.5 |
111.5 |
160.8 |
189.3 |
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Headline earnings per share growth |
% |
28.0 |
24.2 |
(30.7) |
(15.1) |
(18.3) |
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Return on shareholders’ equity |
% |
29.1 |
25.9 |
22.1 |
29.9 |
36.5 |
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ROCE |
% |
24.0 |
20.0 |
14.5 |
25.8 |
32.2 |
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Return on total assets |
% |
5.9 |
4.9 |
4.3 |
5.9 |
7.0 |
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Net asset value per share |
cents |
746.6 |
645.6 |
586.0 |
548.0 |
503.0 |
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WACC |
% |
9.5 |
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Consolidated statements of |
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Continuing operations |
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Turnover |
Rm |
66 940.8 |
63 117.0 |
59 271.3 |
55 330.5 |
51 185.0 |
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Trading profit |
Rm |
1 240.1 |
1 010.3 |
852.4 |
1 275.1 |
1 417.7 |
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Profit before tax |
Rm |
1 205.2 |
833.1 |
808.9 |
1 170.0 |
1 356.1 |
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PBTAE |
Rm |
1 205.2 |
937.2 |
808.9 |
1 170.0 |
1 348.6 |
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EBITDA |
Rm |
2 134.3 |
1 881.0 |
1 792.9 |
2 073.7 |
2 160.9 |
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Headline earnings |
Rm |
847.8 |
662.6 |
532.2 |
767.8 |
900.8 |
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Consolidated statements of |
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Total Group operations |
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Assets |
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Non-current assets |
Rm |
5 920.1 |
5 739.9 |
5 407.8 |
5 091.1 |
4 078.3 |
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Current assets |
Rm |
8 786.4 |
8 364.7 |
7 613.3 |
6 727.2 |
7 022.0 |
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Total assets |
Rm |
14 706.5 |
14 104.6 |
13 021.1 |
11 818.3 |
11 100.3 |
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Equity and liabilities |
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Ordinary shareholders’ equity |
Rm |
3 130.1 |
2 702.6 |
2 416.0 |
2 404.1 |
2 158.8 |
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Non-current liabilities |
Rm |
1 631.3 |
1 789.8 |
1 697.1 |
1 609.3 |
1 383.3 |
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Current liabilities |
Rm |
9 945.1 |
9 612.2 |
8 908.0 |
7 804.9 |
8 558.2 |
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Total equity and liabilities |
Rm |
14 706.5 |
14 104.6 |
13 021.1 |
11 818.3 |
11 100.3 |
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2015 364 days |
2014 364 days |
2013 368 days |
2012 366 days |
2011 365 days |
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Stock exchange (JSE Limited) |
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Pick n Pay Stores Limited (PIK) |
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Number of shares in issue |
millions |
487.3 |
480.4 |
480.4 |
480.4 |
480.4 |
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Weighted-average number of shares in issue |
millions |
478.3 |
478.4 |
478.1 |
477.4 |
475.7 |
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Total market capitalisation |
Rbn |
25.7 |
21.7 |
21.8 |
20.7 |
22.3 |
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Market capitalisation net of treasury shares |
Rbn |
25.3 |
21.6 |
21.7 |
20.6 |
22.2 |
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Price:earnings ratio |
times |
29.8 |
32.6 |
40.8 |
30.2 |
28.2 |
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Dividend per share |
cents |
118.1 |
92.3 |
84.0 |
130.9 |
142.5 |
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Dividend cover |
times |
1.5 |
1.5 |
1.3 |
1.1 |
1.2 |
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Volume of shares traded |
millions |
213.3 |
165.2 |
274.5 |
216.8 |
275.7 |
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Percentage of shares traded |
% |
43.8 |
34.4 |
57.1 |
45.1 |
57.4 |
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Market price per share |
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– close at year-end |
cents |
5 282 |
4 514 |
4 544 |
4 307 |
4 644 |
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– high for the year |
cents |
6 082 |
5 440 |
4 900 |
4 850 |
4 999 |
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– low for the year |
cents |
4 401 |
3 519 |
4 022 |
3 504 |
3 944 |
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Pick n Pay Holdings Limited RF (PWK) |
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Number of shares in issue |
millions |
527.2 |
527.2 |
527.2 |
527.2 |
527.2 |
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Weighted-average number of shares in issue |
millions |
516.3 |
516.2 |
516.4 |
516.4 |
515.9 |
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Total market capitalisation |
Rbn |
12.0 |
10.8 |
10.0 |
9.7 |
10.6 |
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Headline earnings per share |
cents |
88.0 |
68.8 |
55.1 |
70.8 |
82.1 |
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Price:earnings ratio |
times |
26.0 |
29.9 |
34.4 |
25.9 |
24.4 |
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Dividend per share |
cents |
57.3 |
44.3 |
40.8 |
63.5 |
69.3 |
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Volume of shares traded |
millions |
65.9 |
70.5 |
139.6 |
122.8 |
165.7 |
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Percentage of shares traded |
% |
12.5 |
13.4 |
26.5 |
23.3 |
31.4 |
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Market price per share |
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– close at year-end |
cents |
2 285 |
2 055 |
1 894 |
1 833 |
2 007 |
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– high for the year |
cents |
2 800 |
2 300 |
2 118 |
2 030 |
2 115 |
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– low for the year |
cents |
1 980 |
1 619 |
1 770 |
1 459 |
1 655 |
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Definitions |
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Headline earnings |
Net profit for the period adjusted for the after tax effect of certain capital items |
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Return on shareholders’ equity |
Headline earnings expressed as a percentage of the average ordinary shareholders’ equity for the period |
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Return on capital employed |
Headline earnings divided by average shareholders equity plus non-current borrowings |
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Return on total assets |
Headline earnings expressed as a percentage of the average total assets for the period |
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Headline earnings per share |
Headline earnings divided by the weighted-average number of shares in issue for the period |
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Dividend cover |
Headline earnings per share divided by the dividends per share which relate to those earnings |
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Net asset value per share |
Total value of net assets at period end, adjusted for directors’ valuations of property and investments, divided by the number of shares in issue at period end, held outside the Group |
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Profit before tax and |
Profit for the period, before tax and exceptional items. Exceptional items are determined by the remuneration committee. These are non-recurring items of an exceptional size and nature |
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EBITDA |
Profit for the period, before net interest, tax, depreciation and amortisation |
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Market capitalisation |
The price per share at period end multiplied by the number of shares in issue at period end |
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Price:earnings ratio |
The price per share at period end divided by headline earnings per share |
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Dividends per share |
The interim dividend declared during the current financial period and the final dividend declared after period end, in respect of the current financial period |
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Weighted-average cost of |
WACC is the average after tax cost of the Group’s debt funding, which includes non-current borrowings and current liabilities, and the Group’s equity funding, with each source of funding included on a proportional basis |
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2015 364 days |
2014 364 days |
2013 368 days |
2012 366 days |
2011 365 days |
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Pick n Pay Stores Limited |
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HUMAN MEASURES* |
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Developed a skilled workforce |
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Number of employees |
000 |
48.7 |
49.3 |
47.9 |
42.4 |
49.0 |
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Permanent employee turnover |
% |
19.3 |
15.0 |
16.0 |
15.0 |
15.0 |
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Employment equity** |
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Top management |
% |
35.7 |
39.0 |
40.0 |
39.0 |
39.0 |
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Senior management |
% |
64.4 |
61.0 |
60.0 |
60.0 |
58.0 |
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Professionally qualified middle management |
% |
87.1 |
85.0 |
84.0 |
84.0 |
84.0 |
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Skilled technical and junior management |
% |
95.2 |
95.0 |
95.0 |
95.0 |
94.0 |
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Semi-skilled and discretionary decision-making |
% |
99.7 |
99.8 |
99.7 |
99.8 |
100.0 |
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Unskilled and defined decision-making |
% |
99.4 |
99.6 |
99.6 |
99.6 |
99.6 |
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SOCIAL AND ENVIRONMENTAL |
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Carbon footprint |
CO2 e tonnes |
613 934.7 |
588 509.2 |
591 985.5 |
607 156.1 |
602 782.0 |
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Energy reductions |
GWh |
840.0 |
626.0 |
422.0 |
250.0 |
126.0 |
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Decrease in CO2 e per square metre |
% |
(2.4) |
(4.0) |
^ |
^ |
^ |
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Waste diverted from landfill |
% |
45.0 |
43.0 |
^ |
^ |
^ |
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Water consumed |
megalitres |
1 316.0 |
1 133.0 |
1 085.0 |
^ |
^ |
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Total CSI spend |
Rm |
44.6 |
36.0 |
40.9 |
51.5 |
55.7 |
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Schools in Pick n Pay Schools Club |
3 025 |
2 750 |
2 500 |
2 500 |
2 500 |
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BBBEE level |
Level 4 |
Level 6 |
Level 6 |
Level 7 |
Level 8 |
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OPERATIONAL STATISTICS |
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Number of stores |
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Group |
1 189 |
1 076 |
991 |
891 |
789 |
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Pick n Pay – Owned |
510 |
464 |
420 |
374 |
311 |
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Pick n Pay – Franchise |
490 |
433 |
421 |
388 |
369 |
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Boxer stores |
189 |
179 |
150 |
129 |
109 |
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Associate |
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TM Supermarkets |
53 |
52 |
49 |
50 |
51 |
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Total with associate |
1 242 |
1 128 |
1 040 |
941 |
840 |
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Total square metres |
000 m2 |
2 178.0 |
2 069.4 |
2 002.2 |
1 895.2 |
1 818.3 |
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Owned |
000 m2 |
1 524.7 |
1 466.6 |
1 386.4 |
1 296.9 |
1 223.1 |
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Franchise |
000 m2 |
653.3 |
602.8 |
615.8 |
598.3 |
595.2 |
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* Information relates to Pick n Pay owned stores only ** These measures represent the participation of employment equity candidates, as governed by the Employment Equity Act, No 55 of 1998, in the ^ Not measured |
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