Interactive integrated annual report

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20
20

SUN INTERNATIONAL’S
Integrated Annual Report

Scroll down to see our year in review or you can also download the full reports or generate a customised report from the downloads menu at the end of out year in review

YEAR IN REVIEW

Integrated annual report

PDF - 9 MB

Group audited consolidated financial statements

PDF - 2 MB

Environment, social and governance report

PDF - 5 MB

Annual statutory report

PDF - 1 MB

The Covid-19 pandemic had a significant impact on the group, its people and the results for the year ended 31 December 2020. Sun International responded quickly to the crisis, taking decisive action to protect liquidity and minimise cash outflow. Key to our response was our active engagement and communication strategy with government, regulators, lenders, customers, suppliers and employees.

These actions enabled the group to significantly reduce costs and, manage cash flow and available facilities. Those costs which could not be entirely eliminated include employee costs, rates and taxes, licence costs, security, certain IT software and services, insurance and water and electricity

Covid-19 lockdown response

Employees

To protect our employees, the group implemented extensive Covid-19 protocols, provided wellness support, issued all employees with PPE and supported working from home.

Customers and guests

The group implemented and continues to maintain best practice Covid-19 protocols to ensure that we provide a safe environment for our customers and guests at all our casinos, hotels and resorts.

Equity partners, shareholders and debt funders

It was critical to maintain cash flows and safeguard our funding facilities, to keep paying service providers and salaries and position the group when operations reopened.

Suppliers

With operation closures, procurement spend declined significantly. The group provided payment holidays for certain suppliers who had enterprise and supplier development loans and continued to provide business support.

Communities

Most of our properties are located within communities and, through our robust community stakeholder engagement processes, we were able to identify and where possible respond to their specific needs.

Government and industry bodies

We proactively collaborated with industry bodies and lobbied government to open our industry earlier at alert level 3.

Staying ahead of the curve ensures we deliver on our vision of creating memorable experiences and maintaining our position as a choice destination. Through Sun International’s strong leadership, we were able to weather the Covid-19 storm, continue to make progress against our strategy and manage the challenges faced due to the sharp decline in economic activity.

CHAIRMAN

JABU MABUZA

CHIEF EXECUTIVE

ANTHONY LEEMING

CHIEF FINANCIAL OFFICER

NORMAN BASTHDAW

Streamlining costs and implementing efficiencies

Ongoing process and systems optimisation continues to yield cost savings and efficiencies in a constrained economic environment that was exacerbated by prolonged lockdowns.

Continuing income declined by

49%

from R11.8 billion to R6.1 billion

Continuing adjusted EBITDA reduced by

72%

from R3.2 billion to R897 million

Our group adjusted headline earnings declined from

R763 million

to a loss of R1.1 billion

Adjusted headline loss of

633 cents

per share

Saving of more than

R250 million

Debt reduced by 21% to

R7 billion

(2019: R8.8 billion)

Group results

During 2020 Sun International disposed of our Sun Dreams operations in Latin America and closed loss-making units - The Carousel and Naledi Sun. Going forward we will focus on protecting, leveraging and growing our existing asset portfolio.

Global presence and group structure

Group casino gaming licences

(2019: 15)

3636

Group rooms

(2019: 3679)

10 541

Group slots

(2019: 11 077)

4 481

Group LPMS

(2019: 4 328)

392

Group tables

(2019: 397)

7 458

Group employees

(2019: 9 890)

Carnival

Carnival

Economic interest 91%

Slots - 1 399
Tables - 48
Rooms - 105
Employees - 676

See website

The Maslow Sandton

Economic interest 100%

Rooms - 281
Employees - 117

See website

Maslow Time Square

Economic interest 82%

Slots - 1 722
Tables - 60
Rooms - 238
Employees - 846

See website

GrandWest

Economic interest 62%

Slots - 2 563
Tables - 72
Rooms - 39
Employees - 1 010

See website

The Table Bay

Economic interest 62%

Rooms - 329
Employees - 169

See website

Golden Valley

Economic interest 61%

Slots - 227
Tables - 6
Rooms - 98
Employees - 172

See website

Sibaya

Economic interest 87%

Slots - 1 272
Tables - 49
Rooms - 154
Employees - 649

See website

Meropa

Economic interest 68%

Slots - 400
Tables - 17
Rooms - 60
Employees - 234

See website

Sun City

Economic interest 100%

Slots - 700
Tables - 51
Rooms - 1 299
Employees - 1 567

See website

Carousel

Employees - 3

See website

Flamingo

Economic interest 71%

Slots - 300
Tables - 10
Employees - 133

See website

Boardwalk

Economic interest 82%

Slots - 798
Tables - 27
Rooms - 140
Employees - 389

See website

Wild Coast Sun

Economic interest 50%

Slots - 550
Tables - 18
Rooms - 396
Employees - 505

See website

Windmill

Economic interest 70%

Slots - 401
Tables - 15
Employees - 155

See website

Achieving our purpose and vision ensures value creation for all stakeholders. We accomplish this through our business model, which is executed through our strategy, robust stakeholder engagement, identification and management of risk and material matters and reinforced by our values. Our robust governance and risk management underpins the group’s strategic value creation.

Our value creation

Operating environment

Business
model

Stakeholder engagement

Material
matters

Risk management

Sun International continues to strive for excellence as we drive strategic progress. Our five strategic objectives are the foundation of how we operate our business, identify and manage risks and opportunities as well as measure value preservation, creation and or erosion. These strategic objectives are informed and shaped by our material matters and our operating environment.

STRATEGIC OBJECTIVES

Sun International’s five strategic objectives are the foundation of how we operate our business, identify and manage risks and opportunities as well as measure value preservation, creation and or erosion. These strategic objectives are informed and shaped by our material issues and operating environment. The information contained in this section expands on the chief executive’s overview according to each of the group’s five strategic objectives.

IMPROVE OUR EXISTING OPERATIONS AND OUR GUEST EXPERIENCE

PROTECT AND LEVERAGE OUR EXISTING ASSET PORTFOLIO

GROW OUR BUSINESS INTO NEW AREAS AND PRODUCTS

OUR PEOPLE

GOVERNANCE AND SUSTAINABILITY

Supporting information provides our stakeholders with extra material on the group’s performance in 2020. To save the environment, our stakeholders can create their unique report by only selecting the section of the report they want to print, using our ‘create your own report’ option.

Interactive integrated annual report

Interactive integrated annual report

DOWNLOAD/CUSTOMISE YOUR OWN REPORT

NOTICE!

SUN INTERNATIONAL’S
Integrated Annual Report

YEAR IN REVIEW

Employees

Customers and guests

Equity partners, shareholders and debt funders

Suppliers

Communities

Government and industry bodies

Carnival

The Maslow Sandton

Maslow Time Square

GrandWest

The Table Bay

Golden Valley

Sibaya

Meropa

Sun City

Carousel

Flamingo

Boardwalk

Wild Coast Sun

Windmill

STRATEGIC OBJECTIVES

DOWNLOAD / CUSTOMISE YOUR OWN REPORT

Interactive integrated annual report

Interactive integrated annual report

DOWNLOAD/CUSTOMISE YOUR OWN REPORT

NOTICE!

SUN INTERNATIONAL’S Integrated Annual Report

YEAR IN REVIEW

Employees

Customers and guests

Equity partners, shareholders and debt funders

Suppliers

Communities

Government and industry bodies

Carnival

The Maslow Sandton

Maslow Time Square

GrandWest

The Table Bay

Golden Valley

Sibaya

Meropa

Sun City

Carousel

Flamingo

Boardwalk

Wild Coast Sun

Windmill

STRATEGIC OBJECTIVES

DOWNLOAD / CUSTOMISE YOUR OWN REPORT

SUN INTERNATIONAL’S
Integrated Annual Report