| |
|
|
2018
Rm |
|
2017
Rm |
|
| A. |
CASH GENERATED FROM OPERATIONS IS CALCULATED AS FOLLOWS: |
|
|
|
|
|
| |
Profit before taxation – continuing operations |
|
2 988 |
|
2 498 |
|
| |
Profit/(loss) before taxation – discontinued operation |
|
143 |
|
(85) |
|
| |
Adjustments for: |
|
|
|
|
|
| |
Depreciation |
|
2 505 |
|
2 589 |
|
| |
Amortisation of intangible assets |
|
147 |
|
158 |
|
| |
Loss on disposal of plant and equipment and intangibles |
|
64 |
|
85 |
|
| |
Profit on disposal of properties and other assets |
|
|
|
(41) |
|
| |
Loss on disposal of subsidiaries and investments |
|
|
|
26 |
|
| |
Dividends received |
|
(39) |
|
(7) |
|
| |
Interest received |
|
(147) |
|
(108) |
|
| |
Finance costs |
|
1 184 |
|
1 338 |
|
| |
Fair value adjustments on financial instruments |
|
137 |
|
186 |
|
| |
Net impairment of assets and investments |
|
249 |
|
170 |
|
| |
IFRS 2 charge |
|
75 |
|
42 |
|
| |
Non-cash movement in provisions and valuation allowances |
|
735 |
|
433 |
|
| |
Other non-cash flow items |
|
70 |
|
23 |
|
| |
Operating cash flows before movements in working capital |
|
8 111 |
|
7 307 |
|
| |
Movement in working capital |
|
(2 065) |
|
1 539 |
|
| |
Movement in inventories |
|
(1 466) |
|
719 |
|
| |
Movement in receivables |
|
(1 423) |
|
(500) |
|
| |
Movement in payables |
|
824 |
|
1 320 |
|
|
|
|
|
|
|
|
| |
Cash generated from operations before investment in leasing and rental fleets |
|
6 046 |
|
8 846 |
|
| B. |
TAXATION PAID IS RECONCILED TO THE AMOUNTS DISCLOSED IN THE INCOME STATEMENT AS FOLLOWS: |
|
|
|
|
|
| |
Amounts overpaid at beginning of year |
|
(29) |
|
(125) |
|
| |
Per the income statement (excluding deferred taxation) – group |
|
(988) |
|
(655) |
|
| |
Adjustments in respect of subsidiaries acquired and sold including translation adjustments |
|
(6) |
|
7 |
|
| |
Net amounts underpaid at end of year |
|
(35) |
|
29 |
|
| |
Cash amounts paid |
|
(1 058) |
|
(744) |
|
| C. |
ACQUISITION OF SUBSIDIARIES, INVESTMENTS AND INTANGIBLES: |
|
|
|
|
|
| |
Investment and intangible assets acquired |
|
(86) |
|
(393) |
|
| |
Cash amounts paid to acquire subsidiaries, investments and intangibles |
|
(86) |
|
(393) |
|
| D. |
PROCEEDS ON DISPOSAL OF SUBSIDIARIES, INVESTMENTS AND INTANGIBLES: |
|
|
|
|
|
| |
Inventories disposed |
|
969 |
|
551 |
|
| |
Receivables disposed |
|
1 196 |
|
26 |
|
| |
Payables, taxation and deferred taxation balances disposed and settled |
|
(785) |
|
(60) |
|
| |
Borrowings net of cash |
|
162 |
|
|
|
| |
Property, plant and equipment, non-current assets, goodwill and intangibles |
|
1 048 |
|
151 |
|
| |
Net assets disposed |
|
2 590 |
|
668 |
|
| |
Outstanding receivable from buyer |
|
(170) |
|
|
|
| |
Less: Non-cash translation reserves realised on disposal of foreign subsidiaries |
|
(1 502) |
|
|
|
| |
Investment in joint venture |
|
|
|
(301) |
|
| |
Profit/(loss) on disposal |
|
1 586 |
|
(9) |
|
| |
Net cash proceeds on disposal of subsidiaries |
|
2 504 |
|
358 |
|
| |
Bank balances and cash in subsidiaries disposed |
|
(162) |
|
|
|
| |
Proceeds on disposal of investments and intangibles |
|
|
|
21 |
|
| |
Cash proceeds on disposal of subsidiaries, investments and intangibles |
|
2 342 |
|
379 |
|
| |
The net cash proceeds on disposal of subsidiaries arise from the sale of Equipment Iberia for R2.5 billion (€163 million) during June 2018. |
|
