 |
 |
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GROUP |
|
COMPANY |
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 |
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2008 |
|
2007 |
|
2008 |
|
2007 |
| |
|
Notes |
|
Rm |
|
Rm |
|
Rm |
|
Rm |
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
|
|
|
|
|
|
|
|
| Cash generated from operations before working capital changes |
|
A |
|
1 678,6 |
|
1 416,7 |
|
639,3 |
|
398,8 |
| Increase in net working capital |
|
|
|
(327,7) |
|
(739,7) |
|
(133,8) |
|
(12,4) |
| Working capital changes (excluding RCCF)* |
|
B |
|
(295,2) |
|
(439,0) |
|
(133,8) |
|
(12,4) |
| Movement in RCCF accounts receivable while a consolidated
subsidiary (refer to note 34) |
|
|
|
(32,5) |
|
(300,7) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cash generated from operations |
|
|
|
1 350,9 |
|
677,0 |
|
505,5 |
|
386,4 |
|
|
|
|
|
|
|
|
|
|
|
| Interest received |
|
|
|
99,3 |
|
104,3 |
|
30,5 |
|
47,4 |
| Interest paid |
|
|
|
(43,2) |
|
(57,2) |
|
(12,5) |
|
(19,0) |
| Dividends received (including from associate) |
|
|
|
91,1 |
|
153,7 |
|
416,4 |
|
1 724,2 |
| Taxation paid |
|
C |
|
(410,8) |
|
(568,6) |
|
(158,1) |
|
(223,1) |
| Net cash inflow from operating activities
available to pay dividends |
|
|
|
1 087,3 |
|
309,2 |
|
781,8 |
|
1 915,9 |
| Dividends paid (including to outside shareholders
in subsidiaries) |
|
D |
|
(569,0) |
|
(879,3) |
|
(626,2) |
|
(990,8) |
| Net cash inflow/(outflow) from operating
activities |
|
|
|
518,3 |
|
(570,1) |
|
155,6 |
|
925,1 |
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
|
|
|
|
|
|
|
|
| Investments to maintain operating capacity |
|
|
|
235,4 |
|
(299,1) |
|
21,6 |
|
(96,1) |
| – Repayment of non-current loans* |
|
|
|
269,9 |
|
5,8 |
|
30,6 |
|
5,8 |
| – Non-current loans granted* |
|
|
|
(1,6) |
|
(310,7) |
|
(2,8) |
|
(68,5) |
– Replacement of property, plant and
equipment |
|
|
|
(44,3) |
|
(62,1) |
|
(15,4) |
|
(34,7) |
– Proceeds on disposal of property, plant and
equipment, intangible assets,
investments
and other capital items |
|
|
|
11,4 |
|
67,9 |
|
9,2 |
|
1,3 |
|
|
|
|
|
|
|
|
|
|
|
| Investments to increase operating capacity |
|
|
|
(1 156,7) |
|
1 307,7 |
|
(479,2) |
|
(1 089,7) |
| – Expansion of property, plant and equipment |
|
|
|
(66,8) |
|
(79,5) |
|
(15,3) |
|
(10,0) |
| – Additions of intangible assets |
|
|
|
(6,0) |
|
(7,4) |
|
(0,4) |
|
(5,8) |
| – Equity transaction with BEE partner |
|
|
|
(35,3) |
|
— |
|
— |
|
— |
| – (Increase)/decrease in investments |
|
|
|
— |
|
(375,0) |
|
— |
|
(1 487,4) |
– Proceeds on disposal of subsidiaries and
businesses |
|
E |
|
— |
|
1 881,4 |
|
— |
|
449,3 |
| – Acquisition of subsidiaries and businesses |
|
F |
|
(1 048,6) |
|
(111,8) |
|
(463,5) |
|
(35,8) |
|
|
|
|
|
|
|
|
|
|
|
| Net cash (outflow)/inflow from investing
activities |
|
|
|
(921,3) |
|
1 008,6 |
|
(457,6) |
|
(1 185,8) |
|
|
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
|
|
|
|
|
|
|
|
| Funds provided by equity holders of Reunert |
|
|
16,1 |
|
19,9 |
|
16,0 |
|
14,0 |
|
| Long-term borrowings – raised* |
|
|
0,1 |
|
370,4 |
|
– |
|
7,8 |
|
| –
repaid* |
|
|
(396,5) |
|
(115,8) |
|
(0,8) |
|
(115,7) |
|
| Net loans to subsidiaries |
|
|
|
|
|
|
89,2 |
|
551,7 |
|
| Net cash (outflow)/inflow from financing
activities |
|
|
(380,3) |
|
274,5 |
|
104,4 |
|
457,8 |
|
| NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS |
|
|
(783,3) |
|
713,0 |
|
(197,6) |
|
197,1 |
|
NET CASH AND CASH EQUIVALENTS/
(BORROWINGS) AT
THE BEGINNING OF
THE YEAR |
|
|
482,8 |
|
(230,2) |
|
322,1 |
|
125,0 |
|
| NET (BORROWINGS)/CASH AND CASH EQUIVALENTS AT
THE END OF THE YEAR** |
|
|
(300,5) |
|
482,8 |
|
124,5 |
|
322,1 |
|
| **NET (BORROWINGS)/CASH AND CASH |
|
|
|
|
|
|
|
|
|
|
| EQUIVALENTS ARE MADE UP OF: |
|
|
|
|
|
|
|
|
|
|
| Cash and cash equivalents |
|
|
794,6 |
|
530,6 |
|
124 ,5 |
|
322,1 |
|
| Bank overdrafts |
|
|
(12,7) |
|
(47,8) |
|
— |
|
— |
|
| Net cash resources of the group/company excluding
RCCF |
|
|
781,9 |
|
482,8 |
|
124,5 |
|
322,1 |
|
| |
|
|
(1 082,4) |
|
— |
|
|
|
|
|
| RCCF bank balances and cash |
|
|
82,0 |
|
— |
|
|
|
|
|
| RCCF short-term borrowings |
|
|
(1 164,4) |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net (borrowings)/cash and cash equivalents |
|
|
(300,5) |
|
482,8 |
|
124,5 |
|
322,1 |
|
| Net cash flows from operating activities
before dividends paid and excluding movements in
RCCF accounts receivable |
|
|
1 119,8 |
|
609,9 |
|
|
|
|
|
| Operating cash flow per share (cents) |
|
|
629,5 |
|
345,0 |
|
|
|
|
|
| *In order to enhance disclosures the
following amounts relating to discounted debtors with RCCF (refer
to note 24), which did not entail a receipt or payment of cash
and cash equivalents, have been included. |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
| Decrease/(increase) in respect of short-term portion of accounts receivable
(included in working capital changes (excluding RCCF)) |
|
|
145,3 |
|
(145,3) |
|
|
|
|
|
| Decrease in respect of long-term portion
of accounts receivable (included in repayment of non-current
loans) |
|
|
235,5 |
|
— |
|
|
|
|
|
| Increase in respect of long-term portion
of accounts receivable (included in non-current loans
granted) |
|
|
— |
|
(235,5) |
|
|
|
|
|
| Increase in respect of the borrowings (included
in long-term borrowings – raised) |
|
|
— |
|
380,8 |
|
|
|
|
|
| Decrease in respect of the borrowings (included
in long-term borrowings – repaid) |
|
|
(380,8) |
|
— |
|
|
|
|
|
|
|
|
