Annual Report 2004

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ANNUAL REPORT 2003/2004
Mr. Pieter ElsChief Financial Officer
2
Key Highlights
Financial Year 2003/2004

• Operating Profit R29m vs budget of R14m
• Cash Position Strong year end R451m
• Audit Opinion 2001 disclaimer, 2002 negative,
  2003 unqualified, 2004 unqualified
• RD and Training R40m year on year spend
• Debtors Collection period improved from 86
  days to 78 days

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SITA
Revenue and Gross Profit
Millions
2500
2,304 y/y 17
1,968 y/y 44
2000
1,364 y/y 34
1500
1000
449(19.5GP)
393(20GP)
187(14GP)
500
0
Mar 04
Mar 03
Mar 02
Revenue
Gross Profit
4
SITA
Revenue and Operating Expenses
Millions
2500
2,304
2004 Budget 25.7 E/R
1,968
2000
1500
1,364
1000
300.1 E/R15.3
356.6 E/R15.5
500
265.2 E/R19.2
0
Mar 04
Mar 03
Mar 02
Revenue
Operating Expenses
Excludes RD and Training
5
SITA
Profit Year on Year Comparison

• 2003/4 budget designed to reduce net profit
  before tax from R120m to R29mi.e. (76) year on
  year reduction

• Actual year on year reduction innet profit
  before tax of 57i.e. R52m vs R120m previous year

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SITA
Operating Expenses
Millions
Percentage
450
22.0
E/R19.4
20.0
400
356.6m
18.0
350
300.1m
16.0
300
265.2m
14.0
250
12.0

10.0
200
8.0
E/R15.5
E/R 15.3
150
6.0
100
4.0
50
2.0
0
0.0
Mar 04
Mar 03
Mar 02
OperatingExpenses
Operating Expenses
Excludes RD and Training
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SITA
Cash on Hand
Millions
550
546
451(y/y -17)
433
450
400(y/y -7)
350
250
224
161
150
50
Mar 04
Sept 03
Mar 03
Total
Excl. Ringfenced
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SITA
Consolidated Debtors
Millions
650
600
Debtors collection period 2003 86 days 2004
78 days
550
499(y/y 8.2)
461
450
350
240(40)
250
121(25)
150
98(21)
50
Mar 03
Sept 02
Mar 02
Total
gt 60 Days
9
SITA
CAPEX Spent 2003/2004
Millions
151.3
100
52
38.3
29
20.2
6
5.6
0.2
0
Total
Office Furniture
ComputerPrograms
MainframeEquipment
MainframePrograms
NetworkEquipment
ComputerEquipment
Infrastructure
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SITA
Creditors Provisions Actual
Millions
500
391(y/y 57)
400
350(y/y -10)
300
249
200
100
0
Mar 04
Mar 03
Mar 02
Actual
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SITA
Total Assets Actual
Millions
1,500
1,425
1,417
1,250
1,171
1,000
750
500
250
0
Mar 04
Mar 03
Mar 02
Actual
12
SITA
CAPEX Spent Actual vs Budget
Millions
320
301
220
158
151
149
147
120
79
20
Mar 04
Mar 03
Mar 02
Actual
Budget
13
SITA
Headcount
No. of employees
Permanents 20 over 2 years Contractors 80
over 2 years TOTAL 31 over 2 years
3500
3000
857
759
2500
476
2000
1500
2444
2284
2039
1000
500
0
2004
2003
2002
Contractors
Permanent