INTEGRATED ANNUAL
REPORT 2020

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Notes to the consolidated financial statements

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5. RECONCILIATION OF OPERATING PROFIT TO EBITDAR
2020
Rm
2019
Rm
Ebitdar pre-exceptional items is made up as follows:
Operating (loss)/profit (766) 392
Amortisation and depreciation 348 306
Property rentals 84 208
Long-term incentive expense 17 4
(317) 910
Add/(less): Exceptional losses/(gains)
Loss on property, plant and equipment 2 3
Impairment of property, plant and equipment 716 94
Fair value adjustment of investment properties 888 445
Fair value adjustment on RDI investment 1
Fair value adjustment on interest rate swaps (2)
Impairment of inventory 2
Impairment relating to RBH (associate) 17
Pre-opening expenses 1
Restructuring costs 40 8
Transaction costs 3 32
Ebitdar 1 352 1 491

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