Annexure C
SIGNIFICANT ASSOCIATED COMPANIES – ADDITIONAL INFORMATION
     
   Vodacom      
Sabido (e.tv) 
  
2004 
2003 
2004 
 
Effective interest
15.0% 
15.0% 
33.0% 
 
 
R million 
R million 
R million 
Carrying value of investments after writedown
   of goodwill
 1 247 
1 124 
128 
 
Share of retained equity income
– Current year
123 
240 
22 
       Income
477 
376 
22 
       Dividends
(315)
(90)
– 
       Exceptional items and goodwill amortisation
(16)
(10)
* 
       Other changes in reserves and exchange rates
(23)
(36)
– 
– Cumulative
1 145 
1 022 
(2)
Per Annual 
Summarised financial information:
Per Annual Report 
Report 
 
31/03/2004 
31/03/2003 
31/03/2004 
BALANCE SHEET
Assets
Property, plant and equipment
10 922 
10 675 
63 
Intangible assets
1 034 
551 
– 
Investments and loans
223 
195 
* 
Other assets
1 015 
705 
– 
Current assets
6 904 
4 690 
475 
   Cash
2 370 
1 207 
174 
   Other
4 534 
3 483 
 301 
 
20 098 
16 816 
538 
Equity and liabilities
Shareholders’ funds and shareholders’ loans
7 603 
7 757 
361 
Minority interest
93 
88 
– 
Non-current liabilities
2 569 
2 882 
12 
Current liabilities
9 833 
6 089 
165 
 
20 098 
16 816 
538
 
12 months 
12 months 
12 months 
 
ended 
ended 
ended 
 
31/03/2004 
31/03/2003 
31/03/2004 
INCOME STATEMENT
Revenue
23 478 
19 779 
503 
Headline earnings
3 133 
2 308 
31 
Net profit for the year
3 032 
2 214 
31 
Dividends paid/declared
2 100 
600 
– 


* Amount smaller than R500 000

The investments above represent 88% of the total carrying value of associated companies.