1. critically evaluate the consolidated Balance sheet and make recommendations for future improvements (Marks 35)

2. critically evaluate the consolidated statement of comprehensive income statement and make recommendations for future improvements (Marks 35)

3. critically evaluate the consolidated statement of cash flows and make recommendations for future improvements (Marks 30)

use different financial ratios

Consolidated balance sheet at year ended 29 February 2020 GROUP 29 February 28 February 2020 2019 Notes 4 171 620 1965 R millions ASSETS Non-current assets Property. plant and equipment Intangible assets and goodwill Right-of-Use assets Equity-accounted investments Financial assets at amortised cost Financial assets at fair value through profit or loss Financial assets at fair value through other comprehensive income Finance lease assets Contract costs capitalised Capital rental devices Trade and other receivables Contract assets Defined benefit asset Deferred taxation Current assets Inventories Trade and other receivables Financial assets at fair value through profit or loss Contract assets Taxation receivable Restricted cash cash and cash equivalents 19 350 202 21 196 83 293 87 7 8 11 19 18 4 507 648 1945 524 15 191 117 21 237 163 297 121 11 83 134 9 118 1 252 5 726 25 205 32 13 1 810 9 063 55 13 625 180 155 7430 1 017 4 725 10 11 11 19 195 25 26 1381 12 12 40 7 375 55 11 601 13 14 Assets classified as held-for-sale Total assets EQUITY AND LIABILITIES Total equity Share capital and share premium Retained earnings Other reserves Attributable to Altron shareholders Non-controlling interests Non-current liabilities Loans Contract liabilities Lease liabilities Deferred taxation Current liabilities Loans Lease liabilities** Bank overdrafts Provisions Trade and other payables Financial liabilities at fair value through profit or loss Contract liabilities Taxation payable 3 763 2 871 3 547 (2479) 3 939 (176) 2 502 1 707 349 3 373 2 866 3148 (2479) 3 535 (162) 1424 1 262 87 15 19 15 9 55 75 6 804 7 360 493 181 15 15 12 16 17 17 19 14 4 325 1380 110 7 360 13 625 1 181 15 3 603 18 1423 80 6 804 1 601 Total equity and liabilities Loans include finance lease liabilities recognised prior to the adoption of IFRS 16 Leases Lease liabilities arising on adoption of IFRS 16 Consolidated statement of comprehensive income at year ended 29 February 2020 GROUP 29 February 28 February 2020 2019 Notes 19 20 16 713 103 (14 981) (10 910) (56) (4 015) 15 723 155 (14271) (10567) 20 11 20 (3 701) 20 21 1835 (745) 1090 1 1091 116 (350) 22 23 24 Rmillions CONTINUING OPERATIONS Revenue Other income Operating costs Material and services consumed Net impairment losses on financial and other assets Employees' remuneration Earnings before interest, taxation, depreciation, amortisation, capital items and equity accounted losses (EBITDA before capital items and equity accounted losses) Depreciation and amortisation Operating profit before capital items Capital items Operating profit Finance income Finance expense Share of loss of equity-accounted investees, net of taxation Profit before taxation Taxation Profit for the year from continuing operations DISCONTINUED OPERATIONS Revenue Other income Operating costs Material and services consumed Employees' remuneration Earnings before interest, taxation, depreciation, amortisation and capital items (EBITDA before capital items) and operating profit before capital items Capital items Operating (loss)/profit Finance income Finance expense (Loss)/profit before taxation Taxation (Loss)/profit for the year from discontinued operations Net profit for the year 1607 (566) 1041 (26) 1015 130 (306) (1) 838 (158) 680 25 857 (185) 672 19 20 1202 29 (1177) (983) (194) 20 20 (2) 54 21 (6) (4) (10) 24 22 23 (10) 78 24 (27) 75 (5) 70 750 25 (14) 658 Consolidated statement of comprehensive income (continued) for the year ended 29 February 2020 18 4 81 113 3 120 39 670 711 GROUP 29 February 28 February Rmillions Notes 2020 2019 Other comprehensive income Items that will not be reclassified to profit or loss Remeasurement of net defined benefit asset (112) Items that are or may be reclassified subsequently to profit or loss Foreign currency translation differences in respect of foreign operations Effective portion of changes in the fair value of cash flow hedges Other comprehensive (loss)/income for the year, net of taxation (31) Total comprehensive income for the year 627 870 Net profit attributable to: Non-controlling interests (12) Non-controlling interests from continuing operations (12) 25 Non-controlling interests from discontinued operations 14 Altron equity holders Altron equity holders from continuing operations 684 655 Altron equity holders from discontinued operations (14) 56 Net profit for the year Total comprehensive income attributable to: Non-controlling interests (12) 39 Non-controlling interests from continuing operations (12) Non-controlling interests from discontinued operations Altron equity holders 831 Altron equity holders from continuing operations 646 775 Altron equity holders from discontinued operations (7) 56 Total comprehensive income for the year Basic earnings per share from continuing operations (cents) 26 184 Diluted earnings per share from continuing operations (cents) 26 183 Basic (loss)/earnings per share from discontinued operations (cents) 26 (4) Diluted (loss)/earnings per share from discontinued operations (cents) 26 (4) Basic earnings per share from total operations (cents) 180 Diluted earnings per share from total operations (cents) 179 658 750 25 14 639 627 870 177 175 15 15 192 190 26 26 Consolidated statement of cash flows at year ended 29 February 2020 GROUP 29 February 28 February 2020 2019 Restated Notes 33 1695 166 2 (397) (169) (274) 1023 1345 178 4 (374) (147) (111) 895 35 36 37 38 Rmillions CASH FLOWS FROM OPERATING ACTIVITIES Cash generated from operations Interest received Dividends received from equity accounted investees and other investments Interest paid Taxation paid Dividends paid, including to non-controlling interests Net cash inflow from operating activities CASH FLOWS FROM INVESTING ACTIVITIES Acquisition of subsidiaries and businesses net of cash Proceeds on the disposal of subsidiaries and businesses net of cash Proceeds on disposal of property, plant and equipment and intangible assets Acquisition of intangible assets Acquisitions of property, plant and equipment Other investing activities Net cash outflow from investing activities CASH FLOWS USED IN FINANCING ACTIVITIES Loans advanced Loans repaid Lease payments** Settlement of finance leases*** Net cash outflow from financing activities NET INCREASE IN CASH AND CASH EQUIVALENTS Net cash and cash equivalents at the beginning of the year Effect of exchange rate fluctuations on cash held NET CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR Refer to note 46 for more detail in respect of the restatement of prior year balances Principal lease payments in relation to leases recognised on adoption of IFRS 16 Leases *** Principal lease payments in relation to leases prior to the adoption of IFRS 16 (37) 164 57 (50) (208) (196) (270) (218) 176 123 (93) (190) (206) (408) 39 39 39 39 39 1543 (1 716) 700 (267) (168) (286) (21) 732 200 24 (236) (409) 78 95 27 12 956 200