Integrated annual report
for 52 weeks ended 27 December 2015
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Our performance highlights
Financial highlights
R84,731.8 million
Sales
Increased 8.4% (2014: R78,173.2 million)
567.5 cents
Headline earnings per share before foreign exchange movements (taxed)
Increased 7.8% (2014: 526.2 cents)
R2,300.2 million
Operating profit before foreign exchange movements (taxed) and interest
Increased 14.1% (2014: R2,015.9 million)
258.2 cents
Dividend per share
Decreased 38.7% (2014: 421.0 cents)
2.8%
Trading profit before interest and taxation
Increased 0.2% (2014: 2.6%)
2,595.6 cents
Net asset value per share
Increased 5.7% (2014: 2,456.9 cents)
R3,272.1 million
Earnings before interest, tax, depreciation, amortisation and impairments
Increased 13.3% (2014: R2,887.1 million)
22.4%
Return on equity before foreign exchange movements (taxed)
Increased 0.7% (2014: 21.7%)
R1,229.8 million
Headline earnings before foreign exchange movements (taxed)
Increased 7.7% (2014: R1,141.4 million)
30.5%
Return on capital employed before foreign exchange movements (taxed)
Increased 1.8% (2014: 28.7%)
R3,756.4 million
Cash generated from operations
Increased 39.7% (2014: R2,688.3 million)
R1,118.8 million
Headline earnings
Increased 1.2% (2014: R1,105.5 million)
17.8%
Return on invested capital
Increased 0.1% (2014: 17.7%)
Manufactured performance
403
Number of stores
Increased 2.8% (2014: 392)
R199.8 million
Average sales per store
Increased 5.3% (2014: 189.8 million)
8,883
Active suppliers
Increased 6.1% (2014: 8,372)
Human performance
48,035
Number of employees
Increased 1.7% (2014: 47,209)
R2,963.6
Estimated annual per capita training investment (permanent employees)
(2014: R 3,778.7)
Natural performance
215.27 kWh/m2
Store purchased energy consumption
(2014: 203.53 kWh/m2)
0.36 kl/m2
Estimated water consumption
(2014: 0.59 kl/m2)
Social and Relationship performance
10.8
BBBEE: Employment equity score
(2014: 10.5)
625
Customer complaints (e.g. price errors, false adverts, etc.)
(2014: 2,093)
Intellectual performance
8.3%
Private Label as a percentage of total sales
unchanged from 2014
R182.7 million
online sales
65%
Traffic on the Makro site grew by more than 65% and had 11 million unique visitors during 2015
In meeting these performance highlights, we acknowledge the following challenges:
Rising interest rates and slowing economic growth impacting consumer confidence and spending
Significant cost pressures across many categories of operating costs
Price deflation in commodities for most of the year
Tough economic conditions and currency weakness across most African countries for the first half of 2015
We are proud of the following success stories:
Despite South African economic challenges, all Divisions recorded good sales and volume growth
Strengthened several Divisional management teams with great hires of external talent
Online sales growth accelerating fast, now totalling R182 million
Most African economies and currencies stabilised in second half of 2015 and our stores in those countries performed well.
Also had very successful store openings in three African countries