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Press Metal Annual Report 2022

PMETAL AR 2022 1
PRESS METAL OVERVIEW 6
Our Corporate Values 6
Our Integrated Value Chain 7
STRATEGIC AND PERFORMANCE REVIEW 10
Chairman’s Statement 11
Management Discussion & Analysis by Group CEO 14
Key Performance Indicators 25
Press Metal Highlights 2022 26
LEADERSHIP & GOVERNANCE 30
Corporate Information 30
Profile of Directors 32
Profile of Key Senior Management, Key Operating Management and Country Heads 38
Corporate Governance Overview Statement 42
Directors’ Responsibility Statement 65
Additional Compliance Information 66
Audit Committee Report 68
Statement on Risk Management and Internal Control 74
SUSTAINABILITY REPORT 80
FINANCIAL STATEMENTS 197
Directors’ Report 198
Statements of Financial Position 204
Statements of Profit or Loss and Other Comprehensive Income 206
Consolidated Statement of Changes in Equity 208
Statement of Changes in Equity 210
Statements of Cash Flows 211
Notes to the Financial Statements 217
1. Basis of preparation 217
2. Significant accounting policies 219
3. Property, plant and equipment 236
4. Right-of-use assets 240
5. Investment properties 241
6. Intangible assets 243
7. Investments in subsidiaries 245
8. Investments in associates 250
9. Other investments 254
10. Derivative financial assets/(liabilities) 254
11. Deferred tax assets/(liabilities) 256
12. Trade and other receivables 259
13. Inventories 260
14. Contract assets/(liabilities) 260
15. Cash and BANK BALANCES 260
16. Capital and reserves 261
17. Loans and borrowings 262
18. Provisions 266
19. Trade and other payables 267
20. Revenue 267
21. Finance income 271
22. Finance costs 271
23. Profit before tax 272
24. Tax expense 273
25. Other comprehensive income/(expense) 275
26. Earnings per ordinary share 276
27. Dividends 276
28. Operating segments 277
29. Financial instruments 282
30. Capital management 309
31. Capital and other commitments 310
32. Related parties 310
33. Business combinations 311
34. Interest in joint operation 313
Statement by Directors 314
Statutory Declaration 314
Independent Auditors’ Report 315
LIST OF PROPERTIES 319
ANALYSIS OF SHAREHOLDINGS 320
NOTICE OF ANNUAL GENERAL MEETING 324

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