ECIC IR 2023

ANNUAL Financial Statements for the year ended 31 March 2023

E

D

H

S

I

L I

N

B

2

0

A

0

T

S

1

E

E X P O R T C R E

L T D

O C

A S

C

R I

D I

F

T

A

I

N

H

S

T

U

U

R

O

A

S

N

F

C

O

E

N

C

O

O

I

R

T

P

A

O

R

Notes to the Financial Statements

2023 R’000

2022 R’000

Opening balance

564 706 10 781 (179 656) 120 241 516 072

749 801 (39 489) (130 487) (15 119)

Fair value movements on interest make up liability

Payments

Foreign exchange loss/(gain) and currency translation

Closing balance 564 706 The contractual amount to be paid is R 671 510 000 (2022: R 673 422 000) which is R 155 438 000 (2022: R 108 716 000) higher than the carrying amount. Sensitivity analysis The table presented below demonstrates the sensitivity of liability estimates to particular movements in assumptions used in the estimation process:

Total value

2023

R’000 Change %

Reported value

516 072

Increase discount rates by 10% Decrease discount rates by 10%

512 150 520 053 567 679 464 465

(0,8)

0,8

Depreciation of USD/ZAR Exchange rate by 10% Appreciation of USD/ZAR Exchange rate by 10%

10,0

(10,0)

Total value

2022

R’000 Change %

Reported value

564 706

Increase discount rates by 10% Decrease discount rates by 10%

561 536 565 025 621 176 508 235

(0,6)

0,1

Depreciation of USD/ZAR Exchange rate by 10% Appreciation of USD/ZAR Exchange rate by 10%

10,0

(10,0)

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