Aspen Annual Report 2009 - Aspen as an investment

Annual Report for the year ended 30 June 2009


		OUR GROUP IN BRIEF Our global footprint Healthcare for life Group overview Highlights, achievements and key facts Financial highlights Sustainability highlights and recognition Aspen as an investment Our Group at a glance Ten-year review Therapeutic catagories OUR REVIEWS Chairman’s report Group Chief Executive’s report Financial review BUSINESS REVIEW South African business International business SUSTAINABILITY AND GOVERNANCE Directorate Sustainability report Transformation report Corporate social investment report Value added statement Corporate governance report GROUP FINANCIAL STATEMENTS Statement of responsibility by the Board of Directors Independent auditors’ report Certificate of the Company Secretary Directors’ report Group statement of financial position Group statement of comprehensive income Group statement of changes in equity Group statement of cash flows Group notes to statement of cash flows Accounting policies Significant judgements and estimates Finalisation of PharmaLatina acquisition accounting Notes to the Group annual financial statements Company statement of financial position Company statement of comprehensive income Company statement of changes in equity Company statement of cash flows Company notes to the statement of cash flows Notes to the Company annual financial statements Group currency conversion (unaudited) – annexure 1 Share statistics (unaudited) – annexure 2 Specific repurchase of treasury shares Notice of agm Form of proxy Administration and shareholders' diary Abbreviations and definitions Products depicted

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Aspen as an investment

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PERFORMANCE INDICATORS – CONTINUING OPERATIONS
Indicator	Year ended June 2009	Year ended June 2008
Earnings per share	371,5 cents	239,7 cents
Headline earnings per share	379,5 cents	225,7 cents
Closing share price	R54,75	R31,80
Price: earnings ratio	14,4	14,1
Market capitalisation	R19,8 billion	R12,4 billion
Gross margin	46%	46%
Operating profit before amortisation and impairments of intangible assets margin	27%	27%
Percentage debt ratio	51%	40%
Total debt/operating profit before amortisation	1,9x	1,5x
Net interest cover	6x	14x
Return on shareholders’ equity	38%	33%
Working capital as a % of Group revenue	27%	37%

* Compound annual growth rate since listing

Exponential growth

Since listing, the Group has delivered consistent
and significant growth to shareholders.

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