Merafe Resources Integrated Annual Report 2018

MERAFE RESOURCES INTEGRATED ANNUAL REPORT 2018 14 Financial capital makes it possible for other types of capital to be owned and traded. Financial capital is also representative of how successful we have been at achieving the sustainable development of our natural, human, social and manufactured capital. Sustainable organisations need a clear understanding of how financial value is created, in particular, dependence on other forms of capital. We enhance our financial capital by: • the effective management of risk; • corporate governance structures; • ensuring the equitable use of wealth created; and • assessing the wider economic impact of our activities on society. PERFORMANCE FINANCIAL CAPITAL MATERIAL ISSUES • Global economic environment • Ferrochrome demand and prices • Energy supply and prices • Rand:US Dollar exchange rate • Costs KEY POINTS – 2018 Revenue R5.6 billion (2017: R5.9 billion) EBITDA R1.35 billion (2017: R1.7 billion) Net profit R683 million (2017: R914 million) Net cash balance of R281 million (2017: R600 million) Dividends declared of R351 million (2017: R301 million) Our annual financial statements form part of our online Integrated Annual Report for 2018. They are also available from our Company Secretary.