Segmental report

The Hospital and complementary services segment comprises all the acute hospitals and complementary services in southern Africa. The Healthcare services segment comprises of Life Esidimeni and Life Employee Health Solutions (Life Occupational Health and Careways Wellness) in southern Africa.

Poland comprises healthcare services in Poland, and Alliance Medical comprises diagnostic services in the United Kingdom and Europe.

Inter-segment revenue that is eliminated relates to revenue with Careways Wellness Proprietary Limited of R2 million (2016: R3 million).

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R'm  6 months
31 March
2017
 
   6 months
31 March
2016 
  
Operating segments             
Revenue             
Southern Africa             
Hospitals and complementary services  7 228     6 842    
Healthcare services  399     446    
Poland             
Healthcare services  530     572    
Alliance Medical             
Diagnostic services  1 481     –    
Total  9 638     7 860    
EBITDA             
Southern Africa             
   Hospitals and complementary services  1 661     1 695    
   Healthcare services  59     75    
Poland             
   Healthcare services  27     77    
Alliance Medical             
   Diagnostic services  410     –    
Corporate  261     252    
EBITDA before items detailed below  2 418     2 099    
Depreciation  (441)    (270)   
Southern Africa             
   Hospitals and complementary services  (226)    (211)   
   Healthcare services  (7)    (6)   
Poland             
   Healthcare services  (30)    (31)   
Alliance Medical             
   Diagnostic services  (158)    –    
Corporate  (20)    (22)   
Amortisation  (187)    (65)   
Southern Africa             
   Hospitals and complementary services  (65)    (56)   
   Healthcare services  –     –    
Poland             
   Healthcare services  (11)    (9)   
Alliance Medical             
   Diagnostic services  (111)    –    
Corporate  –     –    
Operating profit before items detailed below  1 790     1 764    
Southern Africa             
   Hospitals and complementary services  1 370     1 428    
   Healthcare services  52     69    
Poland             
   Healthcare services  (14)    37    
Alliance Medical             
   Diagnostic services  141     –    
Corporate  241     230    
Retirement benefit asset and post-employment medical aid expense  –     15    
Operating profit  1 790     1 779    
Contingent consideration released  –     66    
Transaction costs  (254)    (11)   
Impairment of investment  (142)    –    
Fair value adjustment of contingent consideration  (18)    –    
Reorganisation and contract mobilisation costs  (18)    –    
Fair value (loss)/gain on derivative financial instruments  (18)    12    
Other  (14)    (8)   
Finance income  30     33    
Finance costs  (713)    (279)   
Share of associates' and joint ventures' net loss after tax  (9)    (1)   
Profit before tax  634     1 591    
Operating profit before items detailed includes the segment's share of shared services and rental costs. These costs are all at market-related rates. 
R'm  31March
2017
 
   30 September
2016 
  
Total assets before items below             
Southern Africa  11 184     11 433    
India  2 535     2 547    
Poland  2 310     2 602    
Alliance Medical  16 883     –     
   32 912     16 582    
Employee benefit assets  424     433    
Deferred tax assets  621     426    
Derivative financial assets     17    
Restricted cash  674     –    
Income tax receivable  113     39    
Total assets per the balance sheet  34 753     17 497    
Net debt             
Southern Africa  6 485     6 121    
Poland  1 027     1 086    
Alliance Medical  2 306     –    
Acquisition funding (Alliance Medical) 11 546     –    
   21 364     7 207    

Liabilities are reviewed on a net debt basis, which comprises all interest-bearing borrowings and overdraft balances (net cash on hand).