About this report
The Motus integrated report provides a holistic assessment of our ability to create and preserve value for stakeholders and guard against value destruction. It assesses management of strategy, the risks we face, and financial, operational, and sustainability performance against material priorities.
Scope and boundary
The 2021 integrated report covers the businesses over which the Group has operational control for the period 1 July 2020 to 30 June 2021, including subsidiaries, joint ventures and associates. The report also covers the risks, opportunities, stakeholder concerns, and outcomes beyond the financial reporting boundary insofar as they materially affect the Group's ability to create value in the short and long term. The report is primarily aimed at providers of financial capital and may be of interest to other stakeholders, including our employees, customers, original equipment manufacturers (OEMs) and suppliers.
Reporting frameworks and assurance
The integrated report is prepared according to the provisions of the JSE Listings Requirements, the Companies Act, and the King IV principles as well as best practice.
It also adheres to the principles of the Value Reporting Foundation's (formerly the International Integrated Reporting Council) International <IR> Framework. The revisions to the Framework, which were published in January 2021, have been considered in the preparation of the report.
Financial information is extracted from the audited consolidated and separate annual financial statements for the year ended 30 June 2021. Our audited consolidated and separate annual financial statements are prepared in accordance with IFRS, SAICA's Financial Reporting Guides issued by the Accounting Practices Committee, and Financial Pronouncements as issued by the FRSC, unless otherwise specified. The Group's external assurance providers, Deloitte & Touche, have issued an unmodified audit opinion on the audited consolidated and separate annual financial statements. Assurance has also been provided on selected non-financial information by Deloitte & Touche and their independent limited assurance report is included in Independent limited assurance report.
Pro forma financial information
The integrated report includes certain pro forma financial information to provide a more meaningful assessment of the Group's performance for the year under review. The directors of Motus are responsible for compiling the pro forma financial information. The pro forma information does not constitute financial statements that are fairly presented in accordance with IFRS and has been prepared for illustrative purposes only.
Reporting and COVID-19
The global impact of COVID-19 on the lives and livelihoods of many will continue to be felt well into the foreseeable future.
Action plans that demanded tough decisions had to be rapidly developed and were successfully implemented in response to the COVID-19 crisis and thereby ensure the sustainability of the Group. The agility of the management teams, the resilience of the Group's integrated business model and support from suppliers, customers and funders have supported the business through these challenging times.
This report has embraced the Group's transition to the 'new normal', with the ongoing impact of the COVID-19 crisis being integrated throughout in a business-as-usual approach.
In the business and social context in which we operate, described in Automotive industry, our material priorities are those factors most likely to influence the conclusions of our stakeholders when assessing how we create, preserve, or may erode value over time. In detail in Material priorities, are the factors considered to be within the control of Motus' leadership and which have been identified for close and careful management over the short, medium and long term. Management selected these priorities to deepen the Group's resilience, relevance, and responsibility in pursuing sustainable value for the stakeholders. They reflect our plans to manage the risks and opportunities associated with the Group's strategy and meet the expectations of our stakeholders. Our material priorities are grouped into key themes. Sub-issues then expand on those themes and inform the content in this year's integrated and ESG reports. We explain our approach to determining our material priorities and related processes in Material priorities.
Preparation and presentation of this report
Interviews with leadership and internal sources of information have been used to prepare this report. This included reports and presentations related to strategic and business plans, board documents, and relevant external research reports.
The Group executive committee oversees the process and controls applied to information gathering for the report and reviews all content ahead of submission to the board for approval. The Audit and Risk committee (ARC) assists the board in overseeing the quality and integrity of the Group's integrated reporting process across the Group's reporting suite. An ad hoc board sub-committee, consisting of the Group's executive directors and Chairman of the ARC, approves the final integrated report for publication.
Board responsibility and approval statement
The Motus board acknowledges its responsibility to ensure the integrity of the 2021 integrated report. The ARC, together with executive management, is responsible for the preparation and presentation of the report and is comfortable that the appropriate systems, procedures, and controls are in place and operated effectively to ensure the integrity of the integrated report.
The committee has reviewed the report and recommended it to the board for approval. In the board's opinion, the report addresses all material priorities and matters that impact the Group's ability to create value over time and provides a balanced and appropriate review of Motus' strategy and performance. The board is satisfied that the integrated report has been prepared in accordance with the guidelines of the Framework.
The board is satisfied that the Group has complied with and operates in conformity with the provisions of the Companies Act, the MOI and any other applicable laws relating to its incorporation.
On behalf of the board
20 September 2021