Integrated Reports Senwesbel Consolidated Financial Statements 2018 - Page 50

21.1.4 Capital maintenance guidelines Capital includes equity attributable to the equity holders of the parent. The group maintains its own capital ratio within the following guidelines: GROUP 2018 OWN CAPITAL RATIO 2017 OWN CAPITAL RATIO Total assets 6 854 5 992 Equity 2 667 2 486 Liabilities 4 187 3 506 Total equity and liabilities 6 854 5 992 Calculated rate (%) 39% 42% Set target band (%) 35%-45% 35%-45% Capital maintenance The own capital ratio is at a lower level than the previous year and is still within the set target band. The policy in respect of the maintenance of capital is in accordance with the previous financial year. GROUP 2018 INTEREST COVER R’m 2017 INTEREST COVER R’m Earnings before interest, tax, depreciation and amortisation (EBITDA) 693 471 Finance costs 225 206 Calculated interest cover (times) 3,1 2,3 >2,0 >2,0 Interest cover Set target (times) The interest cover covenants were renegotiated for a two-year period and the most stringent cover will revert back to 2.5 for the next financial year. 49 SENWESBEL ANNUAL FINANCIAL STATEMENTS 2018 Senwesbel Limited Reg no: 1996/017629/06