| Mon 10 Mar 2003, 8:26 | | Sasol Limited - Consolidated Interim Results Of Sa |
|
Sasol Limited - Consolidated Interim Results Of Sasol Limited And Declaration
Release Date: 10/03/2003 07:00:06 Code(s): SOL
SASOL LIMITED - Consolidated Interim Results Of Sasol Limited And Declaration
Of Dividend Number 47
SASOL LIMITED
(Incorporated in the Republic of South Africa)
Company registration number: 1979/003231/06
Share code: SOL
ISIN code: ZAE000006896
SOLID PERFORMANCE OFF HIGH BASE
Consolidated interim results of Sasol Limited and declaration of dividend number
47 for the half-year ended 31 December 2002
Reviewed by the auditors KPMG
- Operating profit before translation effects up 35%
- World acclaim for Sasol"s mines
- Gas-to-liquid (GTL) projects advance
- World-scale alcohols plant successfully commissioned
- New York Stock Exchange Listing
- Sasol"s corporate credit rating upgraded
The financial statements are presented on a condensed consolidated basis
A billion is defined as one thousand million.
The principal reporting currency of the Group is rand. US$figures are presented
for convenience purposes only and are translated on a line by line basis in
accordance with International Financial Reporting Standards.
Principal foreign currency conversion rates
half-year half-year year
December December June
2002 2001 2002
Rand/US$ (closing) 8,57 11,95 10,27
Rand/US$ (average) 10,03 9,29 10,13
Rand/euro (closing) 9,00 10,63 10,19
Rand/euro (average) 9,95 8,31 9,08
BALANCE SHEET
30 June 31 December 31 December
2002 2001 2002
US$m US$m US$
audited unaudited reviewed
ASSETS
3 570 2 842 4 461 Property, plant and equipment
(51) (62) (43) Goodwill and negative goodwill
180 120 220 Intangible assets
226 170 254 Other long-term assets
3 925 3 070 4 892 Non-current assets
878 751 1 096 Inventories
1 024 1 007 1 151 Trade and other receivables
23 51 8 Short-term financial assets
367 278 375 Cash
2 292 2 087 2 630 Current assets
6 217 5 157 7 522 TOTAL ASSETS
EQUITY AND LIABILITIES
2 928 2 373 3 726 Total shareholders" equity
25 13 30 Minority interest
529 555 567 Long-term loans
552 492 619 Long-term provisions
6 - 12 Long-term deferred income
531 424 594 Deferred tax
1 618 1 471 1 792 Non-current liabilities
338 431 700 Short-term loans
1 135 869 983 Other current liabilities
173 - 291 Bank overdraft
1 646 1 300 1 974 Current liabilities
6 217 5 157 7 522 TOTAL EQUITY AND LIABILITIES
BALANCESHEET
31 December 31 December 30 June
2002 2001 2002
Rm Rm Rm
reviewed unaudited audited
ASSETS
Property, plant and equipment 38 231 33 960 36 667
Goodwill and negative goodwill (365) (737) (518)
Intangible assets 1 886 1 429 1 852
Other long-term assets 2 172 2 029 2 327
Non-current assets 41 924 36 681 40 328
Inventories 9 392 8 972 9 013
Trade and other receivables 9 869 12 041 10 515
Short-term financial assets 68 609 232
Cash 3 215 3 323 3 769
Current assets 22 544 24 945 23 529
TOTAL ASSETS 64 468 61 626 63 857
EQUITY AND LIABILITIES
Total shareholders" equity 31 931 28 363 30 070
Minority interest 255 156 262
Long-term loans 4 859 6 622 5 427
Long-term provisions 5 309 5 882 5 670
Long-term deferred income 105 - 65
Deferred tax 5 089 5 063 5 444
Non-current liabilities 15 362 17 567 16 606
Short-term loans 6 003 5 154 3 474
Other current liabilities 8 421 10 386 11 671
Bank overdraft 2 496 - 1 774
Current liabilities 16 920 15 540 16 919
TOTAL EQUITY AND LIABILITIES 64 468 61 626 63 857
INCOME STATEMENT
year half-year half-year
June December December
2002 2001 2002
US$m US$m US$m
audited unaudited reviewed
6 078 2 997 3 392 Sales
(3 621) (1 829) (1 960) Cost of sales
2 457 1 168 1 432 Gross profit
(1 042) (509) (607) Operating expenditure
1 415 659 825 Operating profit before
translation effects
55 99 (97) Translation (losses)/gains
1 470 758 728 Operating profit
23 13 9 Dividends and interest received
3 3 3 Income from associates
(85) (46) (53) Finance costs
1 411 728 687 Net income before tax
(471) (231) (223) Taxation
940 497 464 Net income after tax
(3) (3) (8) Minority interest
937 494 456 Attributable earnings
3 1 1 Goodwill amortised
(28) (13) (12) Negative goodwill amortised
24 - 21 Impairment of assets
- - (9) Profit on disposal of assets
(3) - - Tax effect thereon
933 482 457 Headline earnings
Basic earnings per share (cents)
153 80 75 - attributable earnings
152 79 75 - headline earnings
Diluted earnings per share
(cents)
150 79 74 - attributable earnings
149 77 74 - headline earnings
Dividends per share (cents)
20 20 25 - interim
24 - final
Dividends are translated at
actual rates on date of payment.
The current year is an
indicative rate only.
INCOME STATEMENT
half-year half-year year
December December June
2002 2001 2002
Rm Rm Rm
reviewed unaudited audited
Sales 34 015 27 863 61 578
Cost of sales (19 657) (16 994) (36 688)
Gross profit 14 358 10 869 24 890
Operating expenditure (6 079) (4 744) (10 551)
Operating profit before
translation effects 8 279 6 125 14 339
Translation (losses)/gains (974) 922 556
Operating profit 7 305 7 047 14 895
Dividends and interest
received 93 119 230
Income from associates 30 27 31
Finance costs (529) (430) (863)
Net income before tax 6 899 6 763 14 293
Taxation (2 241) (2 144) (4 769)
Net income after tax 4 658 4 619 9 524
Minority interest (82) (24) (28)
Attributable earnings 4 576 4 595 9 496
Goodwill amortised 13 11 33
Negative goodwill amortised(123) (119) (282)
Impairment of assets 203 - 240
Profit on disposal
of assets (90) - (4)
Tax effect thereon 2 - (28)
Headline earnings 4 581 4 487 9 455
Basic earnings per share
(cents)
- attributable earnings 751 748 1 550
- headline earnings 752 731 1 544
Diluted earnings per share
(cents)
- attributable earnings 738 737 1 519
- headline earnings 739 720 1 513
Dividends per share (cents)
- interim 215 200 200
- final 250
Dividends are translated at actual rates on date of payment. The current year is
an indicative rate only.
VALUE ADDED STATEMENT
year half-year half-year
June December December
2002 2001 2002
US$m US$m US$m
audited unaudited reviewed
6 078 2 997 3 392 Sales
(3 436) (1 656) (2 024) Purchased materials and
services
2 642 1 341 1 368 Value added
26 16 12 Investment income
2 668 1 357 1 380 Wealth created
782 391 443 Employees
229 121 160 Providers of equity capital
85 46 53 Providers of loans
461 273 228 Government
1 111 526 496 Reinvested in the Group
2 668 1 357 1 380 Wealth distribution
VALUE ADDED STATEMENT
half-year half-year year
December December June
2002 2001 2002
Rm Rm Rm
reviewed unaudited audited
Sales 34 015 27 863 61 578
Purchased materials and
services (20 295) (15 382) (34 801)
Value added 13 720 12 481 26 777
Investment income 123 146 261
Wealth created 13 843 12 627 27 038
Employees 4 447 3 632 7 921
Providers of equity capital 1 606 1 125 2 353
Providers of loans 529 430 863
Government 2 285 2 544 4 669
Reinvested in the Group 4 976 4 896 11 232
Wealth distribution 13 843 12 627 27 038
CHANGES IN EQUITYSTATEMENT
half-year half-year year
December December June
2002 2001 2002
Rm Rm Rm
reviewed unaudited audited
Balance at beginning 30 070 22 217 22 217
Shares issued 57 37 76
Shares bought back (112) (567) (1 020)
Attributable earnings 4 576 4 595 9 496
Dividends paid (1 524) (1 101) (2 325)
(Decrease)/increase in
foreign currency translation
reserve (1 135) 2 636 1 865
Increase in non-trading
financial assets reserve - - 2
(Decrease)/increase in cash
flow hedge accounting
reserve (1) 546 (241)
Balance at end of year 31 931 28 363 30 070
Comprising
Share capital 2 763 2 667 2 706
Share buyback programme (3 541) (2 976) (3 429)
Accumulated profit 31 869 25 140 28 817
Foreign currency translation
reserve 1 080 2 986 2 215
Non-trading financial
assets reserve 2 - 2
Cash flow hedge accounting
reserve (242) 546 (241)
Total shareholders" equity 31 931 28 363 30 070
CASH FLOW STATEMENT
half-year half-year year
December December June
2002 2001 2002
Rm Rm Rm
reviewed unaudited audited
Cash flow from operations 9 139 9 150 19 157
Investment income 103 129 247
(Increase)/decrease in
working capital (1 303) (932) 300
Finance costs (529) (430) (863)
Tax paid (4 164) (3 178) (4 749)
Dividends paid (1 524) (1 101) (2 325)
Cash retained from operating
activities 1 722 3 638 11 767
Cash utilised in investing
activities (6 215) (2 370) (8 344)
Cash effect of financing
activities 3 629 (1 247) (4 524)
(Decrease)/increase in cash (864) 21 (1 101)
Cash at beginning of period 1 995 2 370 2 370
Arising on translation (412) 932 726
Net cash at end of period 719 3 323 1 995
Comprising
Cash 3 215 3 323 3 769
Bank overdraft (2 496) - (1 774)
Net cash at end of period 719 3 323 1 995
SUPPLEMENTARY INFORMATION
half-year half-year year
December December June
2002 2001 2002
reviewed unaudited audited
Selected ratios
Return on equity % 15,2 19,2 36,3
Return on total assets % 11,8 15,3 26,6
Operating expenditure
to sales % 17,9 17,0 17,1
Finance cost cover times 14,0 16,7 17,6
Dividend cover times 3,5 3,7 3,4
Share statistics
Total shares in issue million 668,2 665,9 666,9
Net shares in issue million 609,3 611,8 609,0
Weighted average number
of shares million 609,3 614,2 612,5
Fully diluted number
of shares million 620,3 623,3 625,0
Share price (closing) cents 10 500 10 540 11 000
Market capitalisation Rm 70 161 70 186 73 356
Net asset value per
share cents 5 241 4 618 4 938
Other financial
information
Loans (including bank
overdraft)
- interest bearing Rm 13 310 11 766 10 612
- non-interest bearing Rm 48 10 63
Capital commitments
- authorised and
contracted Rm 7 204 8 256 7 430
- authorised, not yet
contracted Rm 11 496 5 240 16 632
Guarantees and
contingent liabilities Rm 11 116 9 936 10 114
Significant items in
operating profit
- employee costs Rm 4 447 3 632 7 921
- depreciation of
property, plant
and equipment Rm 1 968 1 986 4 117
- operating lease
charges Rm 231 194 369
Effective tax rate % 32,5 31,7 33,4
Number of employees 31 100 30 250 31 100
Average crude oil price
- derived US$/bbl 22,35 22,84 23,24
The reader is referred to the definitions contained in the 2002 annual financial
statements.
INDEPENDENT REVIEW BY THE AUDITORS
The Group`s condensed consolidated interim financial statements at 31 December
2002 and for the six months then ended have been reviewed by our auditors, KPMG
Inc., who have performed their review in accordance with the statement of South
African Auditing Standards applicable to review engagements. The scope of their
review was to enable the auditors to report that nothing came to their attention
that caused them to believe that the accompanying condensed consolidated interim
financial statements are not fairly presented, in all material respects, in
accordance with International Financial Reporting Standards applicable to
Interim Financial Reporting and the South African Companies Act. KPMG Inc."s
unmodified review report on the condensed consolidated interim financial
statements is available for inspection at the registered office of the Company.
FINANCIAL OVERVIEW
Following the Sasol Group"s surging financial performances over the last three
years, operating profit for the six-month interim period ended 31 December 2002
increased by a modest 4% to R7,3 billion (decreased 4% to US$728 million),
compared to the result of the same reporting period in the previous year.
Attributable earnings of R4,6 billion were almost equal to, and basic earnings
per share (EPS) of 751cents, were slightly above those achieved in the previous
reporting period. In US$ terms, attributable earnings decreased by 8% to US$456
million and EPS by 6% to 75 cents.
Basic headline earnings per share increased by 3% to 752 cents (decreased by 5%
to US75 cents). Impairment charges of R203 million relating to the explosives
facility at Brandon, Canada, and investments within Sasol Wax International were
largely offset by R88 million profit after tax on the disposal of sundry assets
and (net) negative goodwill amortised of R110million.
Derived crude oil prices averaged US$22,35 and were 2% lower than in the
previous reporting period. Pervasive global political and economic uncertainty
adversely impacted on petrochemical markets. Margins, particularly in Europe,
came under pressure and dropped significantly. The detrimental effects of these
conditions affected particularly the Olefins and Surfactants business.
The rand/US$ exchange rate weakened by 8% from an average of R9,29 in the
comparable reporting period to R10,03 in this reporting period. While the weaker
rate had a beneficial effect on sales, the closing rate on 31December 2002 of
R8,57 was much stronger than the closing rate of preceding months and 28%
stronger than the closing rate of R11,95 on 31 December 2001. This resulted in
net translation losses of R974 million being charged to the income statement as
a result of the revaluation of financial assets and liabilities at 31December
2002. This compares to net translation gains in the previous reporting period of
R922 million.
This represents a swing of R1,9 billion in the operating results of the group.
Before taking these translation effects into account, operating profit increased
by 35% from R6,1 billion to R8,3billion (by 25% to US$825 million) for the six-
months ended 31December 2002, compared to the results of the same reporting
period in the previous year.
Financing costs rose by 23% to R529 million, mainly as a result of higher
capital expenditure, which increased from R3,6 billion to R5,7 billion during
the comparable periods. Financing cost cover remained satisfactory at 14 times.
The increase in capital expenditure arose primarily from the Mozambique natural
gas project, the Qatari and Nigerian gas-to-liquid (GTL) projects and the n-
Butanol and acrylic acid projects at Sasolburg. Capital commitments at 31
December 2002 amounted to R18,7 billion.
Previous plans for a major chemical business acquisition have been shelved as
the Group concentrates its resources on advancing capital projects that are
focused strategically on beneficiating highly competitive feedstocks and linking
the Group"s proprietary technology to low-cost hydrocarbon reserves at various
locations around the world.
The share buyback programme continued, taking cognisance of Sasol"s cash
position. At 31 December 2002, 8,8% (58,9 million shares) of Sasol issued share
capital had been purchased at an average price of
R60 per share.
Gearing, defined as interest-bearing debt less cash as a percentage of total
shareholders" equity, was 32% at 31 December 2002. Notwithstanding the Group"s
exciting and aggressive growth programme, this was comfortably within the target
range of 20% to 40%. During the reporting period Sasol"s corporate credit rating
on long-term foreign currency was upgraded by Standard and Poor"s to BBB, which
was above South Africa"s sovereign rating.
An interim dividend of 215 cents per share has been declared. This represents an
increase of 7,5% over the previous interim declaration.
SASOL MINING
Following its spectacular profit increases in recent years, Sasol Mining
increased operating profit (including capital gains of R6 million) by 10% to
R708 million. Productivity improvement processes continued with vigour. It is
most gratifying that this business was recently recognised at The Platts-
Business Week Global Energy Awards in New York as the global coal company of the
year for 2002.
SASOL SYNFUELS
Sasol Synfuels increased its operating profit by a pleasing 36% from R3 688
million to R5 023 million. While the business benefited from the weaker rand/US$
exchange rate, ongoing productivity improvement initiatives and better
conversion efficiencies and yields also made a meaningful contribution. Monthly
records for the production of pure synthesis gas were achieved in August and
December 2002, and total production per day during the reporting period reached
an all-time high.
SASOL CHEMICAL INDUSTRIES (SCI)
Generally, businesses within SCI experienced difficult trading conditions with
some of them being exposed to severe margin pressures because of intense
competition and higher energy-related feedstock costs. Before the impact of
translation effects, SCI"s operating profit increased by 43% from R1 330 million
to R1 898 million. Because this division carried a large portion of Sasol"s
translation losses, its consolidated operating profit after translation effects
decreased by 27% to R1381 million (including capital losses of R201 million).
A highlight was the performance of Sasol Polymers, which increased operating
profit by 91% to R434million. Sasol Solvents maintained trading margins but was
substantially impacted by translation effects. Sasol Olefins and Surfactants was
adversely affected by prevailing cyclical market conditions and substantial
margin pressure in its alkylates business, resulting in a material profit
reduction.
Despite arduous conditions, it is noteworthy that most businesses retained or
improved their customer service standards and achieved pleasing progress in
terms of quality accreditation and safety performance. They are all poised to
deliver more substantially once trading conditions improve and commodity
chemical prices and margins recover.
SASOL OIL AND SASOL GAS
Sasol Oil"s results were disappointing. Operating profit (including capital
gains of R84 million) decreased by 39% to R565 million. The main reasons for
this reduction were lower production at the Natref refinery as a result of a
planned shutdown (R200million) and unforeseen problems and delays experienced
with the refinery expansion project (R200million). Close scrutiny of
circumstances during the execution of this complex expansion project highlighted
role clarification and competency shortcomings within project management and the
managing contractor. The refinery has since been operating at satisfactory
production rates.
Sasol Gas performed according to expectations. National pipeline gas sales
volumes were about 11% higher than those of the previous reporting period and
profit targets were met.
PROFIT OUTLOOK
Widespread uncertainty in global markets has been exacerbated by looming war in
the Middle East and most of the world"s major economies have slowed. Predicting
oil and petrochemical prices with confidence in these circumstances is
challenging and perhaps imprudent. At the same time, the unexpected further
strengthening of the rand to levels last experienced prior to the calamitous
events of 11September 2001, makes currency forecasting equally complex. This is
evidenced by the disparate views offered by pre-eminent economists from
reputable institutions whose forecasts of the rand/US$ exchange rate vary
significantly.
In these depressed and volatile trading circumstances, it is likely that
attributable earnings for the full financial year ending 30 June 2003 will be
less than those of the previous financial year. This forecast should be viewed
in the context of the highly efficient and value-adding base of financial 2002,
which, for the third successive year, was a commendable record performance.
Based on current views of oil prices and currencies, it is anticipated that the
total dividend for the year will be the same as in the previous financial year.
The group remains poised for long-term growth.
NEW YORK STOCK EXCHANGE LISTING
It is also announced today that Sasol Limited has filed a registration statement
on Form 20F with the Securities and Exchange Commission (SEC). This registration
statement has been declared effective by the SEC.Sasol Limited will therefore
comply with the ongoing filing requirements of the SECfrom this point. Sasol
Limited intends to list on the New York Stock Exchange on 9 April 2003.
CORPORATE GOVERNANCE
The Group subscribes to, affirms its commitment to and complies, in all material
respects with the code on Corporate Practices and Conduct as contained in the
second King Report on Corporate Governance for South Africa. Strong corporate
governance structures and mechanisms are in place at Sasol and are constantly
being reviewed to reflect internal corporate changes, legislative changes and
national and international developments in relation to corporate governance.
All the key principles underlying responsible and effective corporate governance
practices and conduct are reflected in Sasol"s corporate governance structures
and practices.
DECLARATION OF INTERIM DIVIDEND NUMBER 47
The directors of Sasol Limited have declared an interim dividend of 215 cents
per share (2001: 200 cents per share) for the half-year to 31 December 2002. The
dividend has been declared in the currency of the Republic of South Africa.
Trading in the STRATE environment requires settlement within five business days.
In accordance with the settlement procedures of STRATE, the following dates will
apply to the interim dividend:
Last day for trading to qualify
for and participate in the
interim dividend (cum dividend) Friday, 4 April 2003
Trading ex dividend commences Monday, 7 April 2003
Record date Friday, 11 April 2003
Dividend payment date
(electronic and certificated
register) Monday, 14 April 2003
Dividend cheques in payment of this dividend to certificated shareholders will
be posted to shareholders on or about Monday, 14 April 2003. Electronic payment
to certificated shareholders will be undertaken simultaneously.
Shareholders who have dematerialised their share certificates will have their
accounts at their Central Securities Depository Participant or Broker credited
on Monday, 14 April 2003.
In the case of certificated shareholders, notice of any change of address of
shareholders must reach the transfer secretaries, Computershare Investor
Services Limited, on or before Friday, 4 April 2003. Share certificates may not
be dematerialised or rematerialised between Monday, 7 April 2003 and Friday, 11
April 2003, both days inclusive.
By order of the board
P du P Kruger P V Cox
Chairman Deputy chairman and chief executive
Sasol Limited
10 March 2003
NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
BASIS OF PREPARATION
The condensed consolidated interim financial statements have been prepared in
accordance with International Financial Reporting Standards and in particular
with the provisions of IAS 34 "Interim Financial Reporting," the requirements of
the South African Companies Act, 1973, as amended and the Listing Requirements
of the JSE Securities Exchange South Africa. The policies adopted are consistent
with those applied in the annual financial statements for the year ended 30 June
2002. These interim results should be read in conjunction with the 2002 annual
financial statements.
These condensed consolidated interim financial statements have been prepared in
accordance with the historic cost convention except for certain financial
instruments, which are stated at fair value. Comparative amounts have been
restated where necessary to conform to current period presentation and to allow
for a more meaningful comparison of performance.
The principal reporting currency of the Sasol Group is rand. This currency
reflects the economic substance of the underlying events and circumstances of
the Group. Figures presented in United States dollars are presented for
convenience purposes only.
RELATED PARTY TRANSACTIONS
During the period under review the company and its subsidiaries, in the ordinary
course of business, entered into various sale and purchase transactions with
related parties. The Group enters into these transactions on an arm"s-length
basis at market rates.
DIRECTORS: P du P Kruger (chairman) P V Cox (deputy chairman and chief
executive) E le R Bradley W A M Clewlow B P Connellan L P A Davies
(executive) J H Fourie (executive) R Havenstein (executive) S Montsi T S
Munday (executive) J E Schrempp (German) C B Strauss
COMPANY SECRETARY: N L Joubert
REGISTERED OFFICE:
Sasol Limited 1 Sturdee Avenue Rosebank Johannesburg 2196
PO Box 5486 Johannesburg 2000
TRANSFER SECRETARIES:
Computershare Investor Services Limited
PO Box 61051 Marshalltown 2107
70 Marshall Street Johannesburg 2001
Further information is available at:
www.sasol.com
email: sasolir@sasol.com
PIE CHART DATA
SALES - GEOGRAPHIC(Rmillion)
December 2002 December 2001
Rm Rm
South Africa 16 090 12 194
Rest of Africa 880 754
Europe 9 415 7 977
Middle and Far East 1 282 1 284
North America 5 044 4 652
South America 358 303
Southeast Asia 946 699
Total 34015 27863
SALES - BUSINES SUNIT (R million)
December 2002 December 2001
Rm Rm
Sasol Mining 513 657
Sasol Synfuels 7 630 5 935
Sasol Oil and Gas 3 593 2 236
Sasol Chemical Industries 22 171 18 994
Other 108 41
Total 34015 27863
OPERATING PROFIT - GEOGRAPHIC (R million)
December 2002 December 2001
Rm Rm
South Africa 6 839 5 653
Rest of Africa (7) 32
Europe 546 802
Middle and Far East 54 201
North America (166) 286
South America (1) 25
Southeast Asia 40 48
Total 7305 7047
OPERATING PROFIT - BUSINESS UNIT (R million)
December 2002 December 2001
Rm Rm
Sasol Mining 702 641
Sasol Synfuels 5 023 3 688
Sasol Oil and Gas 481 925
Sasol Chemical Industries 1 582 1 896
Other (370) (103)
Operating profit before capital
Items 7 418 7 047
Capital items (113) -
Operating profit 7 305 7 047
GRAPH DATA
SALES(R billion) 1998 1999 2000 2001 2002
9,4 12,0 17,0 27,9 34,0
OPERATING PROFIT
(R billion) 1998 1999 2000 2001 2002
1,8 2,5 4,8 7,0 7,3
ATTRIBUTABLE EARNINGS
(R billion) 1998 1999 2000 2001 2002
1,2 1,5 3,1 4,6 4,6
ATTRIBUTABLE EARNINGS
PERSHARE(cents) 1998 1999 2000 2001 2002
200 245 500 748 751
DIVIDEND PER SHARE
(cents ) 1998 1999 2000 2001 2002
65 83 140 200 215
GEARING(%) 1998 1999 2000 2001 2002
3,9 12,3 6,7 29,8 31,8
