About this report
This integrated report covers PPC's financial and non-financial performance between 1 April 2017 and 31 March 2018. It follows a similar report produced for the financial period 1 April 2016 to 31 March 2017. The report is primarily intended for providers of capital, but we trust all stakeholders will find it informative. It should be read together with the supplementary information and audited annual financial statements on our website at www.ppc.co.za/investors/financials.
We welcome your feedback on our full suite of reports. This should be directed to Anashrin Pillay, group head of investor relations, tel +27(11) 386 9000 and email email@example.com.
For further details on sustainability matters, please contact Tshilidzi Dlamini, general manager: group sustainability services, tel +27(11) 386 9122, and email firstname.lastname@example.org.
Details for obtaining copies of the integrated report from the PPC company secretary are on the inside back cover.
Disclosure covers all PPC's:
- Cement manufacturing plants, milling facilities and sales depots in the southern Africa segment (South Africa and Botswana) as well as the rest of Africa (Democratic Republic of the Congo (DRC), Ethiopia, Rwanda and Zimbabwe)
- Manufacturing, blending and batching facilities, as well as aggregate quarries in the materials business (lime, readymix, aggregates and fly ash)
The preparation process for all our reports has been guided by the principles and requirements of International Financial Reporting Standards (IFRS), the International Integrated Reporting Council's Framework (IIRC <IR> Framework), Global Reporting Initiative (GRI) Standards the King Code on Corporate Governance (King IVTM*), the JSE Listings Requirements and the Companies Act 71 of 2008.
Our approach to materiality
This report provides information on all matters that we believe could substantively impact value creation for all stakeholders. To identify and prioritise material matters for inclusion in this report, we followed a structured process involving executive decision-makers, and a considered review of the group's business model and operating environment. The outcomes were reviewed and signed off by the risk and compliance committee (report on page 102 ).
For the reporting period, our material matters at group level were (page 34):
|1||Optimal capital structure|
|3||Compliance with the MPRDA|
|6||Human capital – talent development|
PPC complies with all relevant policies and procedures in preparing its annual financial statements. These were audited by Deloitte, whose unmodified report is on page 136 . Certain sustainability indicators were also assured by Deloitte (page 158 ). In addition, the audit committee provides internal assurance to the board annually on execution of the assurance plan. The committee's report is on page 100 .
In addition to this integrated report, please see supplementary reports at www.ppc.co.za/investors/financials:
- Sustainability review
- Annual financial statements
- Summarised group results and notice of annual general meeting 2018
For details of our annual general meeting, refer to our notice of annual general meeting 2018 at www.ppc.co.za/investors/financials.
The board acknowledges its responsibility to ensure the integrity and transparency of the integrated report. Board members have applied their collective mind to the preparation of this report and believe it is presented in accordance with the IIRC Framework. The board believes this report addresses all material issues and presents a balanced and fair account of the group's performance for the reporting period, as well as an accurate reflection of our core strategic commitments for the short, medium and long term.
The board has delegated responsibility for the integrity of the integrated report to the audit, risk and compliance committee, which recommended that the board approve this report.
Chief executive officer
12 July 2018