INTEGRATED REPORT
2011
Introduction
About this Report
Risk Measurement and Management
Overview and Strategy
Company Profile
Strategic Positioning
Group Results at a Glance
Distribution of Value Added
Group Structure
Non-Executive Directors
Executive Committee
Senior Managers
Chairman’s Letter to Stakeholders
Stakeholder Reports
Chief Executive’s Report
Chief Financial Officer’s Report
Operational Review: Explosives
Operational Review: Specialty Chemicals
Operational Review: Property
Operational Review: Specialty Fibres
Corporate Governance
Sustainability Report: Safety, Health and Environment (“SHE”)
Sustainability Report: Human Capital
Sustainability Report: Independent Assurance Report on selected Sustainability Information
Remuneration Report
Annual Financial Statements
Shareholder Analysis
Financial Calendar
Historical Reviews
Audit Committee’s Report to Stakeholders
Independent Auditors’ Report
Declaration by the Company Secretary
Directors’ Report
Basis of Reporting
Significant Accounting Policies
Statements of Financial Position
Income Statements
Statements of Comprehensive Income
Statements of Changes in Equity
Statements of Cash Flows
Notes to the Statements of Cash Flows
Notes to the Financial Statements
Administration
Notice of Annual General Meeting
Appendix to Notice of Annual General Meeting
Form of Proxy
Note to the Form of Proxy
Administration
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Notes to the Financial Statements FOR THE YEAR ENDED 31 DECEMBER 2011
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PROPERTY, PLANT AND EQUIPMENT
INVESTMENT PROPERTY
INTANGIBLE ASSETS
GOODWILL
PENSION FUND EMPLOYER SURPLUS ACCOUNTS
INVESTMENT IN SUBSIDIARIES AND LOANS WITH GROUP COMPANIES
OTHER INVESTMENTS
DEFERRED TAX
LOANS RECEIVABLE
INVENTORIES
ACCOUNTS RECEIVABLE
ASSETS CLASSIFIED AS HELD FOR SALE
SHARE CAPITAL AND SHARE PREMIUM
NON-CURRENT BORROWINGS
NON-CURRENT PROVISIONS
ACCOUNTS PAYABLE
CURRENT BORROWINGS
REVENUE
NET OPERATING COSTS
INTEREST EXPENSE
INTEREST RECEIVED
INVESTMENT INCOME
INCOME TAX EXPENSE
EARNINGS PER SHARE
DIVIDENDS
CONTINGENT LIABILITIES
COMMITMENTS
FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT
RELATED PARTY INFORMATION
EMPLOYEE BENEFITS
DIRECTORS’ AND PRESCRIBED OFFICERS’ EMOLUMENTS AND INTERESTS
OPERATING SEGMENTS
BUSINESS COMBINATIONS
SUBSEQUENT EVENTS
INTERESTS IN JOINT VENTURES
PRINCIPAL SUBSIDIARIES
AECI LIMITED
Incorporated in the Republic of South Africa
(Registration Number 1924/002590/06)
JSE Share code: AFE ISIN code: ZAE000000220
(“the Company”)
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