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This is Reunert’s third annual integrated report and is prepared primarily for providers of financial capital.
It covers the strategy and performance of Reunert Limited and its subsidiaries (the Reunert group) for the financial year ending 30 September 2013 and its future prospects.

The annual integrated report is our primary report and includes abridged financial statements. Our full annual financial statements and sustainability report supplement the annual integrated report and can be found at here.


In preparing this report, we have taken cognisance of the:
International Integrated Reporting Council’s Consultation Draft published in April 2013;
King Report on Corporate Governance for South Africa, 2009 (King III Code);
Companies Act 71 of 2008 (Companies Act);
JSE Listings Requirements;
International Financial Reporting Standards (IFRS); and
Global Reporting Initiative guidelines (GRI G3.1 and G4).
Our approach to integrated reporting will evolve further as the framework is bedded down and as our reporting structures mature into integrating financial and non-financial information.


The Reunert group operates mainly in South Africa with minor operations in Australia, Lesotho, USA and Zimbabwe. This report covers subsidiary, joint venture and investment companies which we control, share joint control of or significantly influence. Managed operations are disclosed on a 100% basis and, on a 50% basis, for our joint venture in telecom cables. The Cafca operation in Zimbabwe is not included in the numbers as its contribution is regarded as insignificant and the group does not have management control.

Data comparisons are provided for at least three years. All items are reported on a like-for-like basis, with no major restatements.


We define a material issue as one that would have a significant impact on the sustainable performance or prospects of Reunert, should it occur. This includes material financial, economic, social, environmental and governance issues. The material issues discussed here were identified through our strategic review processes, input from key stakeholders, media reviews and desktop research.

Our main stakeholders, how we engage with them in the value-creation process, and their expectations, are set out here.


Reunert follows the combined assurance model proposed by King III.
Management provides the Reunert board of directors and its delegated committees with assurance that risk management is integrated into day-to-day activities.
Internal audit, which is overseen by the audit committee, assesses the effectiveness of Reunert’s system of internal control.
Our external auditor, Deloitte & Touche (Deloitte), expresses an opinion on the fair representation of the group’s audited annual financial statements.
The group’s audit and risk committees are responsible for ensuring that the combined assurance model introduced by the King III Code is applied to provide a co-ordinated approach to all assurance activities. These committees are also responsible for ensuring that the combined assurance received is appropriate to address all the significant risks facing the group.

Non-financial information has not been externally assured. Instead, the internal audit function has assessed the completeness and accuracy of a sample of information presented in the integrated report. In total, 16 of the GRI performance indicators have been tested.

The board is satisfied that this internal review is sufficient at this time. The board will periodically consider the need to obtain appropriate external assurance to ensure that the company remains in step with its peers in assuring the integrity of the report.

We believe our reporting meets the requirements of a level B report in terms of the GRI G3.1 guidelines. The GRI contents table is available online.

Broad-based black economic empowerment (BBBEE) ratings and various international standards (ISO) are externally assured. This information can be found here.


We welcome feedback on the format, structure and content of our report. The comments received will further refine our reporting initiatives in future.
> Feedback form


The board is responsible for ensuring the integrity of this annual integrated report. The directors confirm that they have assessed the content and believe the report addresses the group’s material issues and provides a fair assessment of its performance.

Certain statements in this report may be regarded as forward-looking statements or forecasts. These statements have not been reviewed and reported on by our external auditors.
Trevor Munday
David Rawlinson
Chief executive
20 November 2013, Sandton