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

The sensitivity analysis for interest rates illustrates how changes in the interest rates will impact on the fair values of assets and liabilities. The US interest rates have been used for this sensitivity as Corporation’s assets and liabilities are predominantly in US dollars. A change of 100 basis points in the interest rate at the reporting date would have increased or decreased equity and profit or loss after tax by amounts reflected below, the analysis assumes that all other variables remained the same.

Profit/(loss) after tax

Equity

100 BP increase R’000 (122 205) (52 536)

100 BP decrease R’000

100 BP increase R’000 (122 205) (52 536)

100 BP decrease R’000

2023 2022

121 783 51 037

121 783 51 037

5.1.3 Market (or equity) price risk Market price risk is the risk that actual fair values of equities may fluctuate from expected values as a result of changes in market prices. The Corporation’s exposure to equities is capped and defined in the investment policy. The Corporation’s exposure to equities is set at a maximum level of investment assets. The Finance, Investment and Insurance Committee actively monitors the equity investment portfolio to ensure that there is no breach of the set parameters. The Committee

contracts the services of fund managers to manage the equity investment portfolio. Financial liabilities are not impacted by changes in the market or equity price. The table below reflects the Corporation exposures to equity risk.

2023 R’000

2022 R’000 23 973 726 628

Industrials Financials

108 045 802 093 163 745 252 709 39 948 109 003 463 734 45 922 118 693

Health

4 884

Technology

-

Consumer Staples

53 758 353 749 183 540 16 267 90 152

Materials

Collective Investment Scheme

Energy

Real estate

Utilities

222

269

Consumer Discretionary Communication services

281 381 142 116

189 905 34 335

2 527 611 1 677 460 The total equity exposure is made up of listed equities, unlisted equities and collective investment scheme listed in note 9. A 5 percent increase or decrease in equity values at the reporting date would increase or decrease equity and profit or loss after tax by amounts as reflected below.

Profit/(loss) after tax

Equity

5% increase R’000

5% decrease R’000

5% increase R’000

5% decrease R’000

2023 2022

72 922 34 675

(72 922) (34 675)

98 488 57 220

(98 488) (57 220)

YOUR EXPORT RISK PARTNER

49