| |
|
|
2013 |
|
2012 |
|
 |
|
|
|
|
|
|
| Audited |
|
|
Rm |
|
Rm |
|
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
|
|
|
|
| Operating cash flows before movements in working capital |
|
|
5 936 |
|
5 199 |
|
| Decrease/(increase) in working capital |
|
|
535 |
|
(3 128) |
|
| Cash generated from operations before investment in rental assets |
|
|
6 471 |
|
2 071 |
|
| Net investment in fleet leasing assets |
|
|
(1 636) |
|
(1 481) |
|
| Net investment in vehicle rental fleet |
|
|
(572) |
|
(633) |
|
| Cash generated from/(utilised in) operations |
|
|
4 263 |
|
(43) |
|
| Finance costs |
|
|
(983) |
|
(827) |
|
| Realised fair value adjustments on financial instruments |
|
|
(55) |
|
(19) |
|
| Dividends received from investments, associates and joint ventures |
|
|
173 |
|
82 |
|
| Interest received |
|
|
39 |
|
49 |
|
| Taxation paid |
|
|
(837) |
|
(596) |
|
| Cash inflow/(outflow) from operations |
|
|
2 600 |
|
(1 354) |
|
| Dividends paid (including non-controlling interest) |
|
|
(598) |
|
(443) |
|
| Cash retained from/(applied to) operating activities |
|
|
2 002 |
|
(1 797) |
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
|
|
|
|
| Acquisition of subsidiaries, investments and intangibles |
|
|
(775) |
|
(1 589) |
|
| Proceeds on disposal of subsidiaries, investments and intangibles |
|
|
105 |
|
931 |
|
| Net investment in leasing receivables |
|
|
22 |
|
98 |
|
| Acquisition of other property, plant and equipment |
|
|
(818) |
|
(824) |
|
| Replacement capital expenditure |
|
|
(339) |
|
(334) |
|
| Expansion capital expenditure |
|
|
(479) |
|
(490) |
|
| Proceeds on disposal of property, plant and equipment |
|
|
117 |
|
264 |
|
| Net cash used in investing activities |
|
|
(1 349) |
|
(1 120) |
|
| Net cash inflow/(outflow) before financing activities |
|
|
653 |
|
(2 917) |
|
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
|
|
|
|
| Proceeds on share issue |
|
|
4 |
|
2 |
|
| Shares repurchased for forfeitable share plan |
|
|
(32) |
|
(24) |
|
| Non-controlling equity loans |
|
|
6 |
|
9 |
|
| Purchases of non-controlling interest |
|
|
(125) |
|
|
|
| Proceeds from long-term borrowings |
|
|
1 614 |
|
3 842 |
|
| Repayment of long-term borrowings |
|
|
(1 748) |
|
(2 474) |
|
| (Decrease)/increase in short-term interest-bearing liabilities |
|
|
(339) |
|
1 360 |
|
| Net cash from/(used in) financing activities |
|
|
(620) |
|
2 715 |
|
| Net increase/(decrease) in cash and cash equivalents |
|
|
33 |
|
(202) |
|
| Cash and cash equivalents at beginning of year |
|
|
2 624 |
|
2 754 |
|
| Effect of foreign exchange rate movement on cash balance |
|
|
208 |
|
72 |
|
| Effect of cash balances classified as held for sale |
|
|
(29) |
|
|
|
| Cash and cash equivalents at end of year |
|
|
2 836 |
|
2 624 |
|
| Cash balances not available for use due to reserving restrictions |
|
|
255 |
|
182 |
|
