1、Annual Report 2010nt t t t t t t tAnnR ReReReReReReRepopopopopopopop pt rt rt rt rt rt rt rtThe NaspersGroupReview of OperationsGovernance and SustainabilityFinancial StatementsNotice of AnnualGeneral MeetingVision for subscribers To wherever I am have access to entertainment,trade opportunities,inf
2、ormation and to my friends2 Financial highlights4 Group at a glance6 Global footprInt8 Chairmans and managing directors report16 Financial review22 Review of operations24 Internet30 Pay television36 Print media42 Governance 51 Sustainability66 Directorate71 Administration and corporate information72
3、 Analysis of shareholders and shareholders diary74 Consolidated and company annual financial statements198 Notice of AGM205 Proxy formEntertainment at your fingertipsThe NaspersGroupReview of OperationsGovernance and SustainabilityFinancial StatementsNotice of AnnualGeneral MeetingNaspers Annual Rep
4、ort 2010 1Mission To develop in the leading group media and e-commerce platforms in emerging 2 Naspers Annual Report 2010 2010 2009 Rm Rm Income statement and cash flow Revenue 27 998 26 690 Operational profit 5 447 4 940 Operating profit 4 041 3 783 Net profit attributable to equity shareholders 3
5、257 5 761 Cash flow from operating activities 5 622 3 913 Statement of financial position Total assets 57 468 54 560 Current assets 13 126 13 689 Total equity 35 634 35 217 Non-current liabilities 10 892 8 993Current liabilities 10 942 10 350 Other information Dividend per N ordinary share(cents)(pr
6、oposed)235 207 Earnings per N ordinary share(cents)873 1 553 Weighted average number of N ordinary shares in issue(000)372 951 371 004 098,27108,84092,07102,350911,791014,26Revenue(R bn)0926,71028,0Headline earnings per share(rand)Core HEPS(rand)Ebitda margin(%)0922,61023,2Dividend per share(propose