SHARED VALUE CREATION
We draw on all our resources to create shared value and ignite opportunity across the African continent.REPORT OF THE CHIEF FINANCIAL OFFICER
Grindrod’s focus in 2021 was to deliver efficient and cost-effective customer solutions whilst driving operational excellence and exiting poor performing and non-core investments and businesses.
Grindrod achieved a commendable performance in its core businesses in 2021 underpinned by record mineral and container volumes in the Freight Services business. Grindrod Bank also performed well as it continued its focus on quality lending and growing its platform banking footprint. Core operations, inclusive of joint ventures, reported headline earnings of R886 million, up 166 percent from 2020, and the Group generated cash from operations in excess of R1 billion.
Read more
OPERATIONAL REVIEWS
Read moreDIVISIONAL REVIEW
PORT AND TERMINALS
The Port and Terminals division manages investments with a capital-intensive barrier to entry, which provide the backbone for offering integrated logistics solutions along key trade corridors, in partnership with the Logistics division.
Our terminal facilities are strategically positioned in Maputo, Richards Bay, Durban, Cape Town and Walvis Bay, providing an efficient service to importers and exporters. State-of-the-art supply chain management software enables real-time views of cargo status, stockpile position and performance. Dashboards track the cargo, assisting our customers in managing their shipments moving through the ports.
LOGISTICS
Logistics provides tailored logistics solutions across the supply chain for the efficient, end-to-end delivery of diversified cargo.
Read moreBANK
This section provides an overview of Grindrod Bank's performance during FY 2021.
For more information about the Bank's operating context, strategy and performance, visit the Bank's integrated report here.
NON-CORE BUSINESSES
- Marine Fuels
- Private Equity and Property portfolio investments
The Board manages the Group’s resources in accordance with local and global best practice guidelines with a focus on the development and implementation of our objectives, strategies, policies, work plans, evaluation tools and reporting structures.
Ultimately, we aim to achieve the sustainable, ethical and socially responsible management of our people, environment, relationships, skills, assets and money.
- The frameworks which guide the development of our business structures
- Our Sustainability Pillars
- Our alignment with the SDGs
Read more
OUR MONEY
The economic resources which Grindrod uses to generate revenue, fund projects and provide shareholder returns. These resources include equity and debt funding and retained earnings.
OUR ASSETS
The physical infrastructure that Grindrod creates, develops, acquires and manages to provide services and products to grow the business. Infrastructure includes the Port of Maputo, terminals, warehouses, depots, feeder vessels and road fleets. Our investment in southern Africa is evident in our active commitment to building infrastructure to support customer needs.
OUR SKILLS AND TECHNOLOGIES
These intangible assets add value to the services and products Grindrod offers and to its ability to achieve operational and financial targets. Elements such as information technology systems, knowledge, skills and intellectual property that enable a well-governed business through innovative, customer-centric product offerings.
OUR PEOPLE
Human-capital management at Grindrod is based on, among others, the ISO 45001 occupational health and safety management standard, the South African Bill of Rights, the UN Universal Declaration of Human Rights and the UN Global Compact Protect, Respect and Remedy Framework regarding human rights, labour standards, environment and anti-corruption.
OUR RELATIONSHIPS
Human-capital management at Grindrod is based on, among others, the ISO 45001 occupational health and safety management standard, the South African Bill of Rights, the UN Universal Declaration of Human Rights and the UN Global Compact's 'protect, respect and remedy' framework regarding human rights, labour standards, environment and anti-corruption.
OUR ENVIRONMENT
This capital represents our Earth’s natural assets that, combined in ecosystems, makes life and human economic activity possible. Grindrod strives to minimise and mitigate the effects of its operations on the water, sea, land, soil, air, geology and all forms of life that inhabit and create these ecosystems.