1. travel
2. tourist destinations
3. africa

74
1
1
2
3
NOTES
REVENUE
REVENUE
REVENUE
(R’m)
continuing
continuing
operations
continuing
operations
operations
25 777
25 777
23 773 23 773
773
893
25 777
The key fundamentals of reliability, delivery
and quality, together with an ability to build
and nurture relationships, underpin the
motto
of theCONSTRUCTION
group
of ‘being SECTOR
a pleasure
WBHO
WBHO
WBHO
CONSTRUCTION
CONSTRUCTION
SECTOR
SECTOR
to
do
business
with’.
SCORECARD
SCORECARD
SCORECARD
12 438
12 438
48% 48%
48%
10 243
2014 20142014
40%
12 438
10 243
10 243
40% 40%
17 893
67
12%
Ownership
Ownership
Ownership
2013
11
2012
2012
2014
2013
2013
2014
2014
Management
Management
and
Management
and and 6,5
control controlcontrol
6,8
6,5
6,5
6,8
6,8
24
24
24
24
24
24
12% 12%
3 096 3 096 3 096
12 14112 141
12 141
8 736
4,9
Employment
Employment
Employment
equity equity equity
4,9
4,4
4,4
4,9
4,4
51%
14,4
Skills
Skills Skills
development
development
development
14,4
13,8
13,8
0
976
939
1 035
976939
1 035
939
20
EnterpriseEnterprise
Enterprise
development
development
development
1 035
Socio-economic
Socio-economic
Socio-economic5
development
development
development
5
2013
11
2012
2012
2014
2013
2013
2014
2014
0
MIKE WYLIE
CHAIRMAN
0 5
2014
5
5
5
5
0
151
1 167
2013
11
2012
1 1167
151
2012
2014
2013
1 282
1 282
2014
15
15
15
15
15
10 15 10
1520
24%
432
South Africa
Rest of Africa
Australia
2 896
South Africa
South Africa
South Africa
29%20 25 20
15
47%
Rest of Africa
Rest ofRest
Africa
of Africa
Australia Australia
Australia
25
25
37% 37%8 7368 736
12% 12%
12%
495
290
2 896 2 896
LOUWTJIE
LOUWTJIE
LOUWTJIE
NEL NELNEL
CHIEFCHIEF
EXECUTIVE
CHIEF
EXECUTIVE
EXECUTIVE
OFFICER
OFFICER
OFFICER
“Our construction
‘Our construction
‘Ourdivisions
construction
divisions
delivered
divisions
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a credible
delivered
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a credible
performance
performance
inperformance
the midst
in the
of in
challenging
midst
the midst
of challenging
of challenging
conditions
conditions
within
conditions
certain
withinsectors
within
certaincertain
of
sectors
the sectors
of the of the
economy.
economy.
Being
economy.
flexible,
Beingdependable
Being
flexible,
flexible,
dependable
and
dependable
and and
hard-working
hard-working
are
hard-working
suitedare
to suited
navigating
are suited
to navigating
to navigating
competitive
competitive
markets
competitive
and
markets
our
markets
focus
and our
and
focus
our focus
this year this
remained
year
thisremained
year
on keeping
remained
on client
keeping
on keeping
client client
relationships
relationships
strong
relationships
bystrong
delivering
strongon
projects.by
Ondelivering
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bywhole,
delivering
onI projects.
believe
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that this is
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achieved.”
something
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have achieved.’
Read Read
more more
Read more
on page
on pageon
18 page
20%
0,94
0,94
0,94
37%
20
184
[2013:
[2013:
1,35]
[2013:
1,35]
1,35]
1 151
2013
2014
Read more
on page 16
250
operations
2014
5 10 5
LTIFR
LTIFR
LTIFR
1 283
20
15
2014
20132014 2013 2013
“In the construction industry you have
to be adaptable and flexible enough
to “go where the work is”, especially
when conditions are challenging, and
I am comfortable that we continue
to have this vital capacity, without
compromising our standards.”
416
continuing
19,4
19,4
19,4
Preferential
Preferential
Preferential
procurement
procurement
procurement
OPERATING
PROFIT (R’m)
14,4
13,8
2013 20132013
51% 51%
TRAINING
TRAINING
TRAINING
SPEND
SPEND
SPEND
323
2013
46%
34%
R 38m
R R38m
38m
[2013:
[2013:
R33m]
[2013:
R33m]
R33m]
1
1
2
20142014
HIGHLIGHTS
2014
HIGHLIGHTS
HIGHLIGHTS
1
REVENUE
REVENUE
REVENUE
30 000
30 000 30 000
25 000
continuing
continuing
operations
continuing
operations
operations
25 000 25 000
20 000
20 000 20 000
8,4%
8,4%
8,4%
15 000
10 000
5 000
[2013:
[2013:
32,9%]
[2013:
32,9%]
32,9%]
0
1514
201
769
14 769
15 000 15 000
25 777
25 777
23 773 23 773
23 773
17 893
15
767
201
1414
769
15 201
14 767
17 893
25 777
WBHO
WBHO
WBHO
CONSTRUCTION
CONSTRUCTION
CONSTRUCTION
SECTOR
SECTOR
SECTOR
SCORECARD
SCORECARD
SCORECARD
14 767
Ownership
Ownership
Ownership
10 000 10 000
2009
0
0
2010
2009
2009
2011
2010
2010
2012
2011
2011
2013
2012
2012
2014
2013
2013
2014
2014
Management
Management
and
Management
and and 6,5
control controlcontrol
6,8
4,9
4,4
NG
rations
1 400
continuing
continuing
operations
continuing
operations
operations
495
10,2%
10,2%
10,2%
1 600 1 600
1 200 1 200
1 049
1 000
800
600
6,8
1 800
1 700
1 049
1 274
1 090
1 049
1 274
1 090
976
1 000 1 000
800
600
2009
1 090
976
939
1 035
976939
1 035
939
1 035
600
2010
2009
1 761
1 800 1 800
700
11
611
1 700
1 611
1 600 1 600
1 500
1 500 1 500
1 400
1 400 1 400
1 300
1 300 1 300
1 200
1 200 1 200
1 100
1 100 1 100
1 000
24
24
24
4,9
4,4
4,4
51%
14,4
13,8
13,8
5
2009
2011
2010
2010
2012
2011
2011
2013
2012
2012
2014
2013
2013
2014
2014
0
1 000 1 000
2009
2010
2009
1 761
1 761
1 611
1 416
1 416
1 416
1 283
1 167
2009
2011
2010
2010
2012
2011
1 151
1 167
2011
2013
2012
1 1167
151
2012
2014
2013
1 282
1 282
1 151
2013
2014
2014
13,8
12%
19,4
20
EnterpriseEnterprise
Enterprise
development
development
development
0 5
0
5
5
5
5
5 10 5
20
15
15
15
15
15
15
2
19,4
20
South Africa
South Africa
South
Rest of Africa
Rest ofRest
Africo
Australia Australia
Austra
10 15 10
1520
15
20 25 20
25
25
2014
20132014 2013 2013
LTIFR
LTIFR
LTIFR
TRAINING
TRAINING
TRAINING
SPEND
SPEND
SPEND
[2013:
[2013:
1,35]
[2013:
1,35]
1,35]
[2013:
[2013:
R33m]
[2013:
R33m]
R33m]
0,94
0,94
0,94
2013 201
51% 51%
14,4
14,4
19,4
Socio-economic
Socio-economic
Socio-economic5
development
development
development
800
1 600
continuing
continuing
operations
continuing
operations
operations
[2013:
[2013:
(1,4%)]
[2013:
(1,4%)]
(1,4%)]
24
24
12 14112 141
12 141
Preferential
Preferential
Preferential
procurement
procurement
procurement
2014
15,4%
15,4%
15,4%
6,5
6,8
1 400 1 400
1 274
1 200
[2013:
[2013:
(3,7%)]
[2013:
(3,7%)]
(3,7%)]
HEADLINE
HEADLINE
HEADLINE
EARNINGS
EARNINGS
EARNINGS
PER PER
SHARE
PER
SHARE
SHARE
6,5
Skills
Skills Skills
development
development
development
1 600
24
5 000 5 000
4,9
Employment
Employment
Employment
equity equity equity
OPERATING
OPERATING
OPERATING
PROFIT
PROFIT
PROFIT
12 438
17 893
R 38m
R R38m
38m
4
5
BUSINESS
BUSINESS
MODEL MODEL
The construction
The construction
business business
model consists
model of
consists
the
of the
It is during the execution
It is duringorthe
operational
executionphase
or operational
that the phase that the
Strategic planning,
Strategic
risk management
planning, riskand
management
governanceand governance
brand and reputation
brandofand
thereputation
group is created.
of the group
The key
is created. The key
form an integralform
part an
of the
integral
procurement
part of the
process.
procurement
Duringprocess. During simultaneous,
simultaneous,
continuous
continuous
and inter-linked
and inter-linked
processesprocesses
fundamentals offundamentals
reliability, delivery
of reliability,
and quality,
delivery
together
and quality, together
this process, the
this
group
process,
leverages
the group
its inherent
leverages
skillsitsand
inherent skills and
procurement
project procurement
and execution.
and execution.
with an ability towith
build
anand
ability
nurture
to build
relationships,
and nurtureunderpin
relationships, underpin
expertise, brandexpertise,
and reputation,
brand and
and reputation,
financial strength
and financial
to
strength to of project of
the motto of thethe
group
motto
of of
‘being
the group
a pleasure
of ‘being
to doa pleasure to do
secure those projects
secure that
those
willprojects
achievethat
the will
implementation
achieve the implementation
business with’. This
business
consistent
with’. This
experience
consistent
when
experience when
of its short to medium
of its short
termtostrategic
mediumobjectives.
term strategic
The objectives. The
interacting with interacting
us generates
withrepeat
us generates
work andrepeat
enhances
work and enhances
quality of the submitted
quality ofbid
thehas
submitted
a directbid
impact
has aondirect
the impact on the
credibility.
credibility.
operational performance
operational
of performance
the group. of the group.
N S A N D I M PA C T S N S A N D I M PA C T S
REMENT PRHEMENT PHASE
PROCU PROCU ASE
E RY
DELI
V
IBILI
TY
FLE X
SOCIAL SOCIAL
FINANCIAL FINANCIAL FINANCIAL FINANCIAL
PERFORMANCE
PERFORMANCE
QUALITY
QUALITY
PEOPLE PEOPLE
STRATEGY
to geographies
target?
to target?
° Which geographies
° Which
Which
focussectors
on? to focus on?
° Which sectors° to
work for?
clients to work for?
° Which clients °toWhich
RISK MANAGEMENTRISK MANAGEMENT
to anyexposure
given sector/
to any given sector/
° How much exposure
° How much
client/geography?
client/geography?
Project
evaluation
Project
evaluation
°
°
- Programme - Programme
- Technical complexity
- Technical complexity
- Available resources
- Available resources
bid at?
margin to bid at?
° What margin to
° What
BRAN
D, REPU
BRAN
D
ENT
ENT
TAT I O N A N D, R E P U TAT I O N A N D A C T O N P R O C U R E MA C T O N P R O C U R E M
P E R F O R M A N C E I MPPE R F O R M A N C E I M P
6
6
6
BUSINESS
BUSINESS
STRUCTURE
STRUCTURE
BUILDINGBUIA
ENGINEERIN
ENG
The Building division
The of
Building
WBHOdivision
is recognis
of W
industry. Having established
industry. Having
a reputation
establishf
budget, the division
budget,
regularly
the division
exceedsregul
clie
negotiate a number
negotiate
of projects
a number
every of
year
pro
diversity to the margin
diversity
streams
to theof
margin
the divis
str
ROADS AND
ROA
EARTHWOR
EAR
The Roads and earthworks
The Roads division
and earthwor
opera
disciplines, as well
disciplines,
as a number
as well
of special
as a n
strength when operating
strength in
when
Africa
operating
and has
in the region. Theindivision
the region.
differentiates
The divisioit
effective teams, which
effective
areteams,
encouraged
which to
ar
for the mutual benefit
for theofmutual
all parties.
benefit of
AUSTRALIA
AUS
WBHO entered the
WBHO
Australian
entered
market
the Austra
in 20
support of WBHO,
support
Probuild
of is
WBHO,
a tier one
Probui
co
to the success ofto
this
therelationship
success ofhas
thisbeen
rela
of management. of
The
management.
group also operates
The gro
earthworks sectors.
earthworks sectors.
PROJECTSPROA
PROPERTY
PRO
° Guarantee facilities
° Guarantee facilities
° Working capital
° Working capital
investment
investment
° Enhances credibility
° Enhances credibility
ture expenditure
° Capital expendi
° Capital
STRATEGY
5
IT Y
SOCIAL SOCIAL
° Key relationships
° Key relationships° Key relationships
° Key relationships
- client
- client
- client
- client
- supplier
- supplier
- supplier
- supplier
employees
- employees
° Leverage brand
° Leverage brand
and reputation and reputation ° Culture: the “WBHO
Way”
the “WBHO Way”
° Culture:
ABIL
° Skills and experience
° Skills and experience
° Skills and experience
° Skills and experience
- tendering
- tendering
- technical
- technical
- project evaluation
- project evaluation- resource management
- resource management
- resource planning
- resource planning
G E M EANNTA G E M E N T
M
R EL I
G O V E R A GNOCVE E R A N C E
N
N
MANA
HUMAN HUMAN
IT Y
PEOPLE
HUMAN HUMAN
ABIL
STRATEGY
EXECUTIONEXPEHCAUSTEION PHASE
CAPITALS/INPUTS
CAPITALS/INPUTS
R EL I
S
SHIP
PEOPLE
S
SHIP
STRATEGY
TION
R EL A
TION
R EL A
IBILI
TY
L E A D E R S LH EI PA D E R S H I P
P E R AT I O E F O R O P E R AT I O O N P E R F O R M A N C EO N P E R F O R M A N C E
ELIN
A PIP
E RY
NE FOR O
DELI
V
ELI
A PIP
FLE X
4
PERFORMANCE
PERFORMANCE
and resource management
° Project and resource
° Projectmanagement
° Relationships ° Relationships
- Client
- Client
- Professionals - Professionals
- Suppliers and-subcontractors
Suppliers and subcontractors
- Staff and labour
- Staff and labour
and competenc
expertise and
e competence
° Technical expertise
° Technical
RISK MANAGEMENTRISK MANAGEMENT
°
°
°
°
Programme ° Programme
Technical complexity
° Technical complexity
Cost control ° Cost control
Project ‘health° checks’
Project ‘health checks’
The overriding purpose
The overriding
of the Projects
purposean
o
group to a rangegroup
of diversified
to a range
margin
of diver
stre
construction environment.
construction environmen
CONSTRUCT
CON
MATERIALS
MA
WBHO conductsWBHO
its operations
conducts
within
its ope
the
Capital Africa Steel
Capital
group
Africa
of companies,
Steel group
2002. Capital Africa
2002.
Steel
Capital
operates
Africavariou
Stee
period of challenging
period
conditions,
of challenging
the grou
con
under-performingunder-performing
investments, as well
investm
as
5
5
6
6
7
6
BUSINESS
BUSINESS
STRUCTURE
STRUCTURE
BUILDINGBUILDING
AND CIVILAND CIVIL
ENGINEERING
ENGINEERING
FOOTPRINT
AFRICA
SECTORS
SECTORS
RETAIL
RETAIL
EDUCATION
EDUCATION
HEALTHCARE
HEALTHCARE
COMMERCIAL COMMERCIAL
The Building division
The of
Building
WBHOdivision
is recognised
of WBHO
as is
a leader
recognised
in theas
South
a leader
African
in the
building
South African building
MINING INFRASTRUCTURE
MINING INFRASTRUCTURE
industry. Having established
industry. Having
a reputation
established
for quality,
a reputation
reliability
for quality,
and delivering
reliability
against
and delivering against
INDUSTRIAL
INDUSTRIAL
budget, the division
budget,
regularly
the division
exceedsregularly
client expectations.
exceeds client
Theexpectations.
division is able
Thetodivision is able to RESIDENTIAL
RESIDENTIAL
negotiate a number
negotiate
of projects
a number
every of
year
projects
as a result.
every The
yearCivil
as aengineering
result. The Civil
division
engineering
adds
division
addsAND ENTERTAINMENT
HOTELS
HOTELS AND ENTERTAINMENT
diversity to the margin
diversity
streams
to theof
margin
the division
streams
and
of strengthens
the division and
the overall
strengthens
earnings.
the overall earnings.
ENERGY
ENERGY
ROADS AND
ROADS AND
EARTHWORKS
EARTHWORKS
11
SECTORS
SECTORS
10
9
ROADS
ROADS
MINING INFRASTRUCTURE
MINING INFRASTRUCTURE
RAIL
RAIL
ENERGY
ENERGY
The Roads and earthworks
The Roads division
and earthworks
operatesdivision
across multiple
operatestraditional
across multiple
civil engineering
traditional civil engineering
WATER
WATER
disciplines, as well
disciplines,
as a number
as well
of specialist
as a number
disciplines.
of specialist
The division
disciplines.
has aThe
particular
division has a particular
OIL AND GAS
OIL AND GAS
12
7
6
13
5
AUSTRALIA
AUSTRALIA
earthworks sectors.
earthworks sectors.
PROJECTSPROJECTS
AND AND
PROPERTY
PROPERTY
SECTORS
4
SECTORS
RETAIL
RETAIL
RESIDENTIAL
RESIDENTIAL
HEALTHCARE
HEALTHCARE
COMMERCIAL COMMERCIAL
WBHO entered the
WBHO
Australian
entered
market
the Australian
in 2001 through
marketits
in subsidiary
2001 through
Probuild.
its subsidiary
With theProbuild. WithMINING
the
INFRASTRUCTURE
MINING INFRASTRUCTURE
support of WBHO,
support
Probuild
of is
WBHO,
a tier one
Probuild
contractor
is a tier
across
one contractor
all buildingacross
disciplines.
all building
Key disciplines. Key
INDUSTRIAL
INDUSTRIAL
to the success ofto
this
therelationship
success ofhas
thisbeen
relationship
the similar
hasvalues,
been the
culture
similar
and
values,
attitudes
culture and attitudes
LEISURE
LEISURE
of management. of
The
management.
group also operates
The group
in also
the civil
operates
engineering
in the civil
and engineering
roads and and roads and
HOTELS AND ENTERTAINMENT
HOTELS AND ENTERTAINMENT
3
1
SECTORS
REBAR
REBAR
QUARRIES
QUARRIES
PIPE MANUFACTURE
PIPE MANUFACTURE
AGGREGATES AGGREGATES
WBHO conductsWBHO
its operations
conducts
within
its operations
the construction
within the
materials
construction
segment
materials
throughsegment
the
through the
Capital Africa Steel
Capital
group
Africa
of companies,
Steel groupinofwhich
companies,
it has held
in which
a strategic
it has interest
held a strategic
since interest since
2002. Capital Africa
2002.
Steel
Capital
operates
Africavarious
Steel operates
businesses
various
withinbusinesses
this sector.within
Afterthis
a long
sector. After a long
period of challenging
period
conditions,
of challenging
the group
conditions,
is in a the
process
groupofisunbundling
in a process
non-core
of unbundling
and non-core and
under-performingunder-performing
investments, as well
investments,
as assessing
as well
its as
industrial
assessing
portfolio
its industrial
in general.
portfolio in general.
Swaziland
4
Botswana
5
Namibia
6
Mozambique
7
Zambia
8
DRC
9
Ghana
10
Sierra Leone
11
Guinea
12
Tanzania
13
Mauritius
2
BUILDING AND CIVIL ENGINEERING
ROADS AND EARTHWORKS
AUSTRALIA
13
5
7
4
CONSTRUCTION
CONSTRUCTION
MATERIALS
MATERIALS
Lesotho
3
SECTORS
CONCESSION ARRANGEMENTS
CONCESSION ARRANGEMENTS
TURNKEY PROJECTS
TURNKEY PROJECTS
ENGINEER, PROCURE,
ENGINEER, PROCURE,
CONSTRUCT PROJECTS
CONSTRUCT PROJECTS
The overriding purpose
The overriding
of the Projects
purposeand
of the
property
Projects
division
and property
is to expose
division
the is to expose the PUBLIC PRIVATE PARTNERSHIPS
PUBLIC PRIVATE PARTNERSHIPS
group to a rangegroup
of diversified
to a range
margin
of diversified
streams within
marginthe
streams
boundaries
withinofthe
theboundaries of the
GOLF ESTATES GOLF ESTATES
construction environment.
construction environment.
RESIDENTIAL APARTMENTS
RESIDENTIAL APARTMENTS
SECTORS
South Africa
2
8
strength when operating
strength in
when
Africa
operating
and hasindeveloped
Africa andahas
successful
developed
formula
a successful
for trading
formula for trading
in the region. Theindivision
the region.
differentiates
The division
itself
differentiates
with its modern
itself fleet
with of
its plant
modern
andfleet of plant and
effective teams, which
effective
areteams,
encouraged
which to
arework
encouraged
togetherto
with
work
clients
together
and consultants
with clients and consultants
for the mutual benefit
for theofmutual
all parties.
benefit of all parties.
SECTORS
1
6
8
1
Melbourne (Victoria)
2
Sydney (New South Wales)
3
Perth (Western Australia)
4
Brisbane (Queensland)
5
Karratha (Western Australia)
6
Goldfields (Western Australia)
7
Pilbara (Western Australia)
8
Geraldton (Western Australia)
3
2
BUILDING
1
CIVIL ENGINEERING
WBHO INTEGRATED REPORT 2014