Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review
AECI
On this page
Company details
- Legal name
- AECI Limited
- Incorporated in
- South Africa
- Listing
- AFE on the A2X Markets, active · ISIN ZAE000000220 (observed 2026-10-08)
- Sector
- Not classified (our classification from the stated principal activity)
- Financial year ends
- 31 December
Overview
Year ended 31 December 2024 · audited financial statements, signed / final · source
Read with these figures
- Auditor's emphasis of matter. Reportable Irregularity (p32): 'we report that we have identified a reportable irregularity in terms of the Auditing Profession Act.
Full wording and sources
Auditor's emphasis of matter
Reportable Irregularity (p32): 'we report that we have identified a reportable irregularity in terms of the Auditing Profession Act. We have reported such matter to the Independent Regulatory Board for Auditors. The matter pertaining to the reportable irregularity has been described in note 39'. The directors' report (p7) says it concerned a material non-disclosure and representation of false information by a senior management member, who is no longer employed, and that the auditors confirmed it is no longer taking place. The opinion is unmodified.
Source: AECI Annual Financial Statements 2024 (for the year ended 31 December 2024) (dated 2025-02-25)
-
Revenue
ZAR 33.6 billion
33,598 ZAR millions · p34
−3.8% vs 2023
-
Operating profit / (loss)
ZAR 1.54 billion
1,544 ZAR millions · p34
−36.8% vs 2023
-
Profit / (loss) for the year
−ZAR 255 million
(255) ZAR millions · p34
Moved from profit to loss (FY2023: 1 180 ZAR millions)
-
Total assets
ZAR 27.2 billion
27,241 ZAR millions · p33
−2.5% vs 2023
-
Total equity
ZAR 12.1 billion
12,070 ZAR millions · p33
−2.7% vs 2023
-
Cash from operations
ZAR 1.73 billion
1,728 ZAR millions · p42
−39.6% vs 2023
Large amounts are rounded for reading (ZAR million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.
Financial statements
Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in ZAR millions unless the row says otherwise; brackets are negative.
† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table
Column sources
- FY2024 — audited financial statements, signed / final; reported for the year · source
- FY2023 — audited financial statements, signed / final; comparative in the FY2024 filing · source
Income statement
| Line (as printed) | FY2024Audited financial statementsreported for the year | FY2023Audited financial statementscomparative in FY2024 filing |
|---|---|---|
| REVENUE | 33,598 | 34,942 |
| Net operating costs | (32,054) | (32,498) |
| PROFIT/(LOSS) FROM OPERATIONS | 1,544 | 2,444 |
| Share of profit of equity-accounted investees, net of | 29 | 39 |
| PROFIT / (LOSS) FROM OPERATIONS AND1 | 1,573 | 2,483 |
| Net finance costs2 | (521) | (504) |
| Finance costs | (645) | (625) |
| Finance income | 124 | 121 |
| PROFIT/(LOSS) BEFORE TAX | 1,052 | 1,979 |
| Taxation (expense)/income | (747) | (872) |
| PROFIT/(LOSS) FOR THE YEAR FROM3 | 305 | 1,107 |
| (LOSS)/PROFIT FOR THE YEAR FROM4 | (560) | 73 |
| (LOSS)/PROFIT FOR THE YEAR | (255) | 1,180 |
| Attributable to preference shareholders5 | (4) | (4) |
| Attributable to AECI minority shareholders6 | (24) | (2) |
| OTHER COMPREHENSIVE INCOME / (LOSS) FOR THE | 67 | 93 |
| TOTAL COMPREHENSIVE (LOSS) / INCOME FOR THE YEAR | (188) | 1,273 |
Notes and alternative reported figures (6)
- “PROFIT / (LOSS) FROM OPERATIONS AND” is an issuer-specific line, not mapped to a shared definition: Profit from operations plus share of equity-accounted investees.
- “Net finance costs” is an issuer-specific line, not mapped to a shared definition: Finance costs less finance income.
- “PROFIT/(LOSS) FOR THE YEAR FROM” is an issuer-specific line, not mapped to a shared definition: Profit after tax from continuing operations.
- “(LOSS)/PROFIT FOR THE YEAR FROM” is an issuer-specific line, not mapped to a shared definition: Note 36: AECI Much Asphalt disposal group.
- “Attributable to preference shareholders” is an issuer-specific line, not mapped to a shared definition: Share of profit attributable to preference shareholders.
- “Attributable to AECI minority shareholders” is an issuer-specific line, not mapped to a shared definition: Share of profit attributable to non-controlling interests.
Balance sheet
| Line (as printed) | FY2024Audited financial statementsreported for the year | FY2023Audited financial statementscomparative in FY2024 filing |
|---|---|---|
| NON-CURRENT ASSETS | 9,670 | 11,762 |
| Property, plant and equipment | 5,910 | 6,699 |
| Right-of-use assets | 703 | 755 |
| Investment properties | 233 | 234 |
| Intangible assets | 361 | 848 |
| Goodwill1 | 1,608 | 2,345 |
| Pension fund employer surplus accounts2 | 287 | 373 |
| Investment in joint venture3 | 66 | 42 |
| Investments in associates | 141 | 150 |
| Loans to associates4 | 45 | 56 |
| Other investments | 122 | 71 |
| Deferred tax assets | 194 | 189 |
| CURRENT ASSETS | 16,067 | 16,180 |
| Inventories | 5,117 | 6,126 |
| Trade and other receivables | 7,616 | 7,422 |
| Other investments | 567 | 576 |
| Taxation receivable | 378 | 96 |
| Cash and cash equivalents | 2,389 | 1,960 |
| Assets held for sale5 | 1,504 | Not yet collected from the source6 |
| TOTAL ASSETS | 27,241 | 27,942 |
| Share capital and share premium | 106 | 106 |
| Reserves | 1,965 | 1,919 |
| Retained earnings | 9,830 | 10,219 |
| ORDINARY CAPITAL AND RESERVES7 | 11,901 | 12,244 |
| PREFERENCE SHARE CAPITAL | 6 | 6 |
| NON-CONTROLLING INTEREST | 163 | 161 |
| TOTAL EQUITY | 12,070 | 12,411 |
| NON-CURRENT LIABILITIES | 6,028 | 6,485 |
| Deferred tax liabilities | 366 | 520 |
| Non-current debt | 4,465 | 4,704 |
| Lease liabilities | 625 | 668 |
| Non-current provisions and employee benefits8 | 572 | 593 |
| CURRENT LIABILITIES | 8,776 | 9,046 |
| Trade and other payables | 7,259 | 7,757 |
| Current debt | 850 | 731 |
| Lease liabilities | 156 | 136 |
| Loans from joint venture and joint operation9 | 13 | 83 |
| Taxation payable | 467 | 280 |
| Bank overdraft | 31 | 59 |
| Liabilities directly associated with assets held for sale10 | 367 | Not yet collected from the source6 |
| TOTAL LIABILITIES | 15,171 | 15,531 |
| TOTAL EQUITY AND LIABILITIES | 27,241 | 27,942 |
Notes and alternative reported figures (10)
- “Goodwill” is an issuer-specific line, not mapped to a shared definition: Note 5.
- “Pension fund employer surplus accounts” is an issuer-specific line, not mapped to a shared definition: Note 30.
- “Investment in joint venture” is an issuer-specific line, not mapped to a shared definition: Note 7.1.
- “Loans to associates” is an issuer-specific line, not mapped to a shared definition: Note 8.
- “Assets held for sale” is an issuer-specific line, not mapped to a shared definition: Note 35: AECI Much Asphalt disposal group and other assets held for sale.
- Not yet collected from the source: Group 2023 printed as a dash on the page render (nil), but the dash is absent from the PDF text layer that this page is re-read from, so it cannot be verified as text and is not recorded as a value (p33)
- “ORDINARY CAPITAL AND RESERVES” is an issuer-specific line, not mapped to a shared definition: Equity attributable to ordinary shareholders.
- “Non-current provisions and employee benefits” is an issuer-specific line, not mapped to a shared definition: Note 16.
- “Loans from joint venture and joint operation” is an issuer-specific line, not mapped to a shared definition: Note 7.2.
- “Liabilities directly associated with assets held for sale” is an issuer-specific line, not mapped to a shared definition: Note 35.
Cash flow
| Line (as printed) | FY2024Audited financial statementsreported for the year | FY2023Audited financial statementscomparative in FY2024 filing |
|---|---|---|
| CASH GENERATED FROM OPERATIONS | 3,345 | 4,004 |
| Finance costs paid1 | (595) | (581) |
| Finance income received | 127 | 124 |
| Taxation paid | (907) | (989) |
| Changes in working capital2 | (74) | 1,037 |
| Cash flows relating to defined-benefit costs3 | (15) | (19) |
| Cash flows relating to non-current provisions and4 | 2 | (7) |
| CASH AVAILABLE FROM OPERATING ACTIVITIES5 | 1,883 | 3,594 |
| Dividends paid6 | (155) | (733) |
| CASH FLOWS GENERATED FROM/(UTILISED BY) | 1,728 | 2,861 |
| CASH FLOWS FROM INVESTING ACTIVITIES | (1,035) | (1,439) |
| Net replacement to maintain operations7 | (637) | (855) |
| - property, plant and equipment8 | (765) | (869) |
| Proceeds from disposal of property, plant and9 | 128 | 14 |
| Investments to expand operations10 | (398) | (584) |
| - property, plant and equipment11 | (208) | (434) |
| Investments112 | (120) | (36) |
| - joint ventures13 | (70) | (58) |
| NET CASH GENERATED/(UTILISED) BEFORE14 | 693 | 1,422 |
| CASH FLOWS FROM FINANCING ACTIVITIES | (217) | (1,551) |
| Capital repayment of lease liabilities | (205) | (201) |
| Proceeds from debt raised | 578 | 4,182 |
| Repayment of debt | (601) | (5,618) |
| Loans to and from - associates and other investments15 | 47 | 88 |
| Share based payments16 | (36) | (2) |
| INCREASE/(DECREASE) IN CASH AND CASH | 476 | (129) |
| Cash and cash equivalents at the beginning of the year | 1,901 | 1,933 |
| Translation gain on cash and cash equivalents | 40 | 97 |
| CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR | 2,417 | 1,901 |
| Dividends received17 | Not yet collected from the source18 | 25 |
| - subsidiaries, net of cash acquired19 | Not yet collected from the source18 | (42) |
| - non-controlling interest20 | Not yet collected from the source18 | (14) |
Notes and alternative reported figures (20)
- “Finance costs paid”: mapping to a shared definition is uncertain. Finance costs paid, one line (borrowings and leases not separated).
- “Changes in working capital” is an issuer-specific line, not mapped to a shared definition: Note iii to the statement of cash flows.
- “Cash flows relating to defined-benefit costs” is an issuer-specific line, not mapped to a shared definition: Operating activities.
- “Cash flows relating to non-current provisions and” is an issuer-specific line, not mapped to a shared definition: Operating activities.
- “CASH AVAILABLE FROM OPERATING ACTIVITIES” is an issuer-specific line, not mapped to a shared definition: Cash generated from operations after finance flows, tax, working capital and employee-benefit flows, before dividends paid.
- “Dividends paid”: mapping to a shared definition is uncertain. Dividends paid (note iv), including preference dividends and dividends to non-controlling interests.
- “Net replacement to maintain operations” is an issuer-specific line, not mapped to a shared definition: Investing subtotal.
- “- property, plant and equipment” is an issuer-specific line, not mapped to a shared definition: Investing: replacement capital expenditure.
- “Proceeds from disposal of property, plant and” is an issuer-specific line, not mapped to a shared definition: Investing.
- “Investments to expand operations” is an issuer-specific line, not mapped to a shared definition: Investing subtotal.
- “- property, plant and equipment” is an issuer-specific line, not mapped to a shared definition: Investing: expansion capital expenditure.
- “Investments1” is an issuer-specific line, not mapped to a shared definition: Investing; in the group, movements in money market investments (footnote 1).
- “- joint ventures” is an issuer-specific line, not mapped to a shared definition: Investing.
- “NET CASH GENERATED/(UTILISED) BEFORE” is an issuer-specific line, not mapped to a shared definition: Operating plus investing cash flows.
- “Loans to and from - associates and other investments” is an issuer-specific line, not mapped to a shared definition: Financing.
- “Share based payments” is an issuer-specific line, not mapped to a shared definition: Financing.
- “Dividends received” is an issuer-specific line, not mapped to a shared definition: Operating activities.
- Not yet collected from the source: Group 2024 printed as a dash on the page render (nil), but the dash is absent from the PDF text layer that this page is re-read from, so it cannot be verified as text and is not recorded as a value (p42)
- “- subsidiaries, net of cash acquired” is an issuer-specific line, not mapped to a shared definition: Investing.
- “- non-controlling interest” is an issuer-specific line, not mapped to a shared definition: Investing.
Segments
Segment data not yet collected for this company in the pilot.
Dividends
Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.
| Year ended | Event | Wording as printed | Amount | Unit | Source |
|---|---|---|---|---|---|
| 31 Dec 2024 | Dividends paid per share during the period (whatever period they relate to) | Ordinary dividends paid |
1.19 | ZAR per share | Audited financial statements, p34 |
| 31 Dec 2024 | Dividend declared per share, as printed in a statement | Ordinary dividends declared after the reporting dateOrdinary dividend declared after the reporting date (final dividend of 219 cents declared on 25 February 2025, directors' report p8). |
2.19 | ZAR per share | Audited financial statements, p34 |
| 31 Dec 2024 | Dividends paid (cash flow statement) | Dividends paid |
(155) | ZAR millions | Audited financial statements, p42 |
| 31 Dec 2023 | Dividends paid per share during the period (whatever period they relate to) | Ordinary dividends paid |
6.80 | ZAR per share | Audited financial statements, p34 |
| 31 Dec 2023 | Dividend declared per share, as printed in a statement | Ordinary dividends declared after the reporting dateOrdinary dividend declared after the reporting date (final dividend of 219 cents declared on 25 February 2025, directors' report p8). |
1.19 | ZAR per share | Audited financial statements, p34 |
| 31 Dec 2023 | Dividends paid (cash flow statement) | Dividends paid |
(733) | ZAR millions | Audited financial statements, p42 |
Sources
Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.
-
AECI Annual Financial Statements 2024 (for the year ended 31 December 2024)
Year ended 31 December 2024 · Audited financial statements · signed / final
Audit: Deloitte & Touche, Registered Auditor (MLE Tshabalala, Partner), unmodified opinion · signed
Auditor's sign-off: Deloitte & Touche, Registered Auditor, per MLE Tshabalala, Partner (electronic signature)
Final status: Independent auditor's report on the consolidated and separate financial statements (pages 31 to 145) closed with an electronic signature box 'Signed by: Deloitte & Touche' (with an envelope identifier) above 'Deloitte & Touche, Registered Auditor, Per: MLE Tshabalala, Partner, 25 February 2025' (PDF p32, page image; opinion p26). The directors' report states the annual financial statements were approved on 25 February 2025 (PDF p7, page image); no directors' signature under an approval statement was located (the Group Chief Executive and the Acting Group CFO sign the responsibility statement on internal financial controls, p4).
- Document date
- 25 Feb 2025
- Auditor's report
- 25 Feb 2025
- Board approval
- 25 Feb 2025
- Retrieved by us
- 17 Oct 2026 (not a publication date)
- Used for
- statement columns FY2024, FY2023
- Basis
- consolidated statements · ZAR millions (printed “Rand million”)
- Capital expenditure on property, plant and equipment is printed in two lines, replacement ((765); 2023: (869)) and expansion ((208); 2023: (434)), both issuer-native (p42). Cash and cash equivalents at the end of the year (2 417) include the discontinued operations' cash (59) and are net of bank overdrafts (p42).
- The PDF is made of two-page spreads: a page's text layer can contain the facing page, many printed dashes and the 'SHAREHOLDERS' EQUITY' label are absent from the text layer, and 'Assets held for sale' reads note '3355' for the printed note 35. Group cells printing a dash that the text layer omits are recorded as gaps (not_yet_transcribed) with the dash noted; shareholders' equity (p33) is not recorded for the same reason. 'Other comprehensive income' components are not transcribed (p35).
- Group profit-or-loss comparatives are headed '2023¹': 'Comparative periods have been restated, due to recognition of the AECI Much Disposal Group as a discontinued operation (refer note 35 and 36)' (p34).
Technical details
- File
- 148 pages, with a text layer
- SHA-256
53fb51348fd771c9fdd81ceefc9f15a686ec694866e3fc38f211df5b2acbe353- Entity as printed
- AECI Limited ('AECI'); AECI Limited Group and Company
- Issuer copy
- retrieved 2026-10-17T13:53:24Z
Data notes
No figure-level notes beyond those in the tables.
Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.
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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.
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