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Highlights of the year in review

Financial performance

The financial performance for 2013 has been restated due to an IFRS requirement to account for our interests in joint ventures on the equity-accounting method (accounting for only our share of their profit), whereas we previously accounted for our share of their revenues and expenses. The restatement enables a like-for-like comparison between the current year’s (2014) results and those of the previous year (2013).

R'm Revenue   R'm Trading profit
 
Revenue per segment

Five-year review

  2010
R’m
  2011
R’m
  2012
R’m
  2013
R’m
  2014
R’m
 
Income statement                    
Revenue
6 730   7 156   7 970   7 790   8 171  
Trading profit
469   400   591   546   519  
Free cash flow
369   114   551   446   95  
Statement of financial position                    
Total assets
5 287   5 294   5 574   5 553   5 872  
Total equity
737   990   988   2 123   2 335  
Total liabilities
4 550   4 304   4 586   3 430   3 537  

Non-financial performance

  Newspapers: Advertising market share
  Source: Nielson AdEx
  Newspapers: Circulation market share
Source: ABC: January to March 2013 vs January to March 2014
  Magazines:Advertising market share
Source: Internal analysis of ABC: January to March 2013 vs January to March 2014 (paid-for copies)
  Magazines: Circulation market share
Source: Internal analysis of Nielson AdEx: April 2012 to March 2013 vs April 2013 to March 2014
  Unique browsers: Market share
Carbon footprint

Our people

As at 31 March 2014 the group had 6 826 (2013: 7 068) full-time employees, of which 47% were women. The investment in training during the past year was R38m, including bursaries to staff for part-time study at various tertiary institutions. The Media24 Academy funded and mentored more than 20 postgraduate journalism students. After graduating, they will receive further training during a one-year internship with Media24.

Environment

Media24 continued implementing green initiatives to keep its carbon footprint of 132 752 tonnes of CO2e in check during the past year.

 

Ongoing energy-efficient initiatives include:

  • installing movement-activated lights
  • refurbishing air conditioners to reduce electricity consumption
  • consolidating our customer service call centres, and
  • automatic hibernation of computers when users are away from their workstations.

Waste management initiatives include:

  • setting double-sided printing as the default setting on all printers to reduce paper use
  • recycling office waste more effectively, and
  • recycling toluene at the Paarl Media gravure printing presses.

Socio-economic development

Media24 has made progress with its transformation aims in recent years. In terms of the scorecard prepared by an independent black economic empowerment (BEE) verification agency, Media24 improved its credentials by achieving a level 3 rating with 137,5% total procurement recognition on BEE spend, scoring full points on the ownership, socio-economic development and enterprise development elements in the past year.