Statements of financial position | Italtile Limited

INTRODUCING
OUR 2021 IAR

INTRODUCING OUR 2021 IAR

Our business at a glance About our report

Financial highlights Chairman's statement

Our partnership and profit-sharing ethos incentivises and rewards our people to participate in the growth and success of our business. It is extremely satisfying that through our widespread profit share scheme, we were able to appropriately reward our team for their improved productivity and exceptional contribution to our results. In excess of R290 million in profit share was booked for employees across the business during the review period.
THIS IS
ITALTILE

THIS IS ITALTILE

Our purpose and strategic focus Our timeline and milestones Our Group structure What sets us apart

Where we operate Creating value through our business model The strength of our brands

In the concerning and adverse operating conditions we face, our priority is to focus on those factors that we can control and influence.

We are confident that if we execute retail excellence disciplines better at every customer touchpoint and reduce existing inefficiencies in our business, we will build further momentum in the business to deliver sales and profit growth and gain market share.
OUR
PERFORMANCE

OUR PERFORMANCE

Chief Executive Officer's report Review of operations Supply chain: Importers Supply chain: Manufacturers Support services

Chief Financial Officer's report Financial results summary Value added statement Seven-year review

In the concerning and adverse operating conditions we face, our priority is to focus on those factors that we can control and influence.

We are confident that if we execute retail excellence disciplines better at every customer touchpoint and reduce existing inefficiencies in our business, we will build further momentum in the business to deliver sales and profit growth and gain market share.
SUSTAINABILITY

SUSTAINABILITY

Chief Executive Officer's letter to stakeholders Social and ethics committee report The environment we operate in Material issues, risks and opportunities Our stakeholders Human resources and training

Transformation Our people Italtile and Ceramic Foundation Trust report Corporate social responsibility report Environmental report

Pleasing progress was achieved across all key performance indicators reflected by the strong results reported; improved customer sentiment scores; achievement of all productivity benchmarks; an improved BBBEE score from level 4 to 2; further development of the depth of talent and advancement of our ESG journey.
OUR
GOVERNANCE

OUR GOVERNANCE

Our Board of directors Our executive leadership

Corporate governance Remuneration committee report

Our core values are fairness, integrity, honesty, empowerment, human dignity, excellence, servant leadership and partnership.
These are not simply words on walls.

We drive our business with these values; they inform our policies, practices and decisions. By focusing narrowly on these guiding principles, we have entrenched a Groupwide value system, and through this, will continue to implement good corporate governance disciplines across all of our business units.

ADDITIONAL
INFORMATION

ADDITIONAL INFORMATION

Shareholders' diary Corporate information Notice of virtual annual general meeting

Annexure 1 to notice of virtual AGM Form of proxy Notes to the form of proxy

Despite the significant uncertainty created by the pandemic leading up to and during the financial year, our business has weathered the challenges well and emerged a more resilient and self-reliant entity. This can be attributed to the extensive improvements made across the Group over the past three years, and our ability to respond with agility within the parameters of our proven, consistent strategies.
DOWNLOADS

Company				Group
2021 Rm	2020 Rm		Note	2021 Rm	2020 Rm
		ASSETS
228	290	Non-current assets		5 483	4 812
		Property, plant and equipment	13	4 866	4 248
		Right-of-use assets	14	381	349
99	157	Investments	15.1
		Investment in associates	15.2	55	49
129	133	Long-term financial assets	16	144	133
		Goodwill	17	19	19
		Deferred taxation	18	18	14
3 384	3 383	Current assets		3 124	2 610
		Inventories	19	1 164	896
		Trade and other receivables	20.1	811	778
3 384	3 353	Amounts owing from related parties	20.2
#	30	Cash and cash equivalents	21	1 081	860
		Taxation receivable	27	68	76

3 612	3 673	Total assets		8 607	7 422
		EQUITY AND LIABILITIES
3 612	3 672	Equity attributable to equity holders of the parent		6 353	5 333
4 314	4 314	Stated capital	22	4 314	4 314
		Non-distributable reserve	23	(12)	26
(79)	–	Treasury shares	22	(904)	(735)
136	134	Share option reserve	6	219	280
(759)	(776)	Retained earnings		2 736	1 448
		Non-controlling interest		360	301
3 612	3 672	Total equity		6 713	5 634
#	1	Total liabilities		1 894	1 788
		Non-current liabilities		526	1 009
		Interest-bearing loans	28	5	500
		Lease liabilities	29	352	309
		Deferred taxation	18	169	200
#	1	Current liabilities		1 368	779
#	#	Trade and other payables	24	572	617
		Provisions	25	227	98
		Interest-bearing loans	28	502	2
		Lease liabilities	29	48	39
#	1	Taxation payable	27	19	23


3 612	3 673	Total equity and liabilities		8 607	7 422
		# Less than R1 million.

•	the resilience of our team and robust business model;
•	our continued investment and emphasis on innovating for the future;
•	our unwavering focus on improving the customer shopping experience;
•	our ethos of profit-sharing and partnership with our people: and
•	pandemic related changes in consumer spending patterns.

Statements of financial position as at 30 June 2021