Consolidated statement of cash flows
FOR THE YEAR ENDED 30 SEPTEMBER
| Notes | 2020 Rm |
Restated* 2019 Rm | |
|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Cash receipts from customers | 50 747 | 60 450 | |
| Cash paid to employees and suppliers | (44 867) | (53 211) | |
| Cash generated from operations before investment in rental fleets and leasing receivables | A | 5 880 | 7 239 |
| Inflow of investment in leasing receivables | 65 | 161 | |
| Fleet leasing and equipment rental fleet | (673) | (1 118) | |
| Additions | (2 347) | (2 940) | |
| Proceeds on disposal | 1 674 | 1 822 | |
| Vehicles rental fleet | 524 | (809) | |
| Additions | (2 192) | (3 546) | |
| Proceeds on disposal | 2 716 | 2 737 | |
| Cash generated from operations | 5 796 | 5 473 | |
| Finance costs^ | (1 274) | (1 134) | |
| Realised adjustments on financial instruments | (223) | (130) | |
| Dividends received from investments, associates and joint ventures | 20 | 72 | |
| Interest received | 155 | 204 | |
| Taxation paid | B | (933) | (774) |
| Cash inflow from operations | 3 541 | 3 711 | |
| Dividends paid (including non-controlling interest) | (1 127) | (1 057) | |
| Cash retained from operating activities | 2 414 | 2 654 | |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Acquisition of subsidiaries | C | (2 766) | (5) |
| Proceeds on disposal of subsidiaries | D | 14 | (84) |
| Investments realised | 367 | 114 | |
| Acquisition of intangible assets | (84) | (163) | |
| Proceeds on disposal of intangible assets | 5 | ||
| Acquisition of property, plant and equipment | (536) | (633) | |
| Replacement capital expenditure | (254) | (154) | |
| Expansion capital expenditure | (282) | (479) | |
| Proceeds on disposal of property, plant and equipment | 39 | 119 | |
| Net cash used in investing activities | (2 966) | (647) | |
| Net cash (outflow)/inflow before financing activities | (552) | 2 007 | |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Shares repurchased for equity-settled share-based payments | (87) | (122) | |
| Share buy back | (1 562) | ||
| Non-controlling interest loan contribution | 9 | ||
| Proceeds from Khula Sizwe black public equity funding | 164 | ||
| Proceeds from long-term borrowings | 2 760 | 69 | |
| Repayment of long-term borrowings | (1 978) | (1 449) | |
| Movement in short-term interest-bearing liabilities | 444 | (1 529) | |
| Repayment of lease liabilities | (343) | ||
| Net cash used in financing activities | E | (766) | (2 858) |
| Net decrease in cash and cash equivalents | (1 318) | (851) | |
| Cash and cash equivalents at beginning of year | 7 274 | 7 893 | |
| Cash and cash equivalents held for sale at the beginning of year | 29 | 19 | |
| Effect of foreign exchange rate movement on cash balance | 443 | 71 | |
| Effect of foreign exchange rate movement on USD denominated cash | (187) | 171 | |
| Cash balance held in Escrow | 502 | ||
| Effect of cash balances classified as held for sale | (29) | ||
| Cash and cash equivalents at end of year | 6 743 | 7 274 | |
| Cash balances not available for use due to reserving restrictions (note 21) | 546 | 188 |
| * | Restated for the following line items: investment in leasing receivables (reclassified), acquisition of subsidiaries and intangibles (separately reported), investments realised (separately reported) and proceeds on disposal of subsidiaries. Refer to note 36. |
| ^ | The finance costs in the 2020 financial year includes interest on lease liabilities (refer to note 5). |