Condensed consolidated statement of cash flows
for the six months ended 31 December 2019
| Download (EXCEL) |
| % change |
Unaudited 31 December 2019 Rm |
Unaudited 31 December 2018 Rm |
Audited 30 June 2019 Rm |
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| CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||
| Cash generated from operations before movements in net working capital | 13 | 2 712 | 2 398 | 4 819 | ||||
| Movements in net working capital | (1 011) | (1 572) | (636) | |||||
| Cash generated by operations before interest, tax paid and capital expenditure on vehicles for hire | 1 701 | 826 | 4 183 | |||||
| Finance costs paid | (532) | (394) | (765) | |||||
| Finance income received | 25 | 31 | 57 | |||||
| Dividends received | 263 | 299 | 496 | |||||
| Tax paid | (336) | (380) | (910) | |||||
| Cash generated by operations before capital expenditure on vehicles for hire | 1 121 | 382 | 3 061 | |||||
| Net replacement capital expenditure – vehicles for hire1 | (1 922) | (613) | (318) | |||||
| – | Additions | (3 661) | (2 858) | (4 367) | ||||
| – | Proceeds on disposals | 1 739 | 2 245 | 4 049 | ||||
| (801) | (231) | 2 743 | ||||||
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||
| Cash outflow on acquisition of businesses | (250) | (368) | (367) | |||||
| Cash inflow from disposals of businesses | – | 9 | 9 | |||||
| Cash outflow on payment of contingent consideration | (9) | – | – | |||||
| Net capital expenditure – property, plant and equipment and intangible assets2 | (170) | (229) | (592) | |||||
| Expansion of property, plant and equipment and intangible assets | (51) | (205) | (441) | |||||
| Net replacement capital expenditure – property, plant and equipment and intangible assets | (119) | (24) | (151) | |||||
| Replacements of property, plant and equipment and intangible assets | (251) | (176) | (457) | |||||
| Proceeds on disposal of property, plant and equipment and intangible assets | 132 | 152 | 306 | |||||
| Movements in investments in associates | 5 | 12 | 19 | |||||
| Increase in investments | (105) | (77) | (77) | |||||
| Cash received on finance lease receivables | 23 | – | – | |||||
| Repayments of other loans and other receivables | – | – | 14 | |||||
| (506) | (653) | (994) | ||||||
| 1 | The allocation of net capital expenditure has been re-presented to align to the disclosure as contained in the annual financial statements as at 30 June 2019. |
| 2 | The comparative disclosure has been enhanced from prior year (December 2018), net replacement capital expenditure has been split further between proceeds on sale and gross replacements. |
| Note | Unaudited 31 December 2019 Rm |
Unaudited 31 December 2018 Rm |
Audited 30 June 2019 Rm |
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| CASH FLOWS FROM OPERATING AND INVESTING ACTIVITIES | (1 307) | (884) | 1 749 | |||||
|---|---|---|---|---|---|---|---|---|
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||
| Repurchase of ordinary shares | (71) | (165) | (780) | |||||
| Hedge cost premium received from Imperial Logistics | – | – | 16 | |||||
| Dividends paid to Imperial Holdings Limited | – | (567) | (567) | |||||
| Dividends paid to Motus shareholders | (474) | – | (470) | |||||
| Dividends paid to non-controlling interests | (3) | (37) | (60) | |||||
| Acquisition of non-controlling interests | – | (28) | (29) | |||||
| Repayment of non-controlling and associate loan liabilities | – | – | (49) | |||||
| Repayment of lease liabilities | (243) | – | – | |||||
| Increase/(decrease) in floorplan liabilities | 98 | 244 | (52) | |||||
| Advances of banking liabilities | 1 289 | 7 241 | 7 103 | |||||
| Repayments of unsecured loans with Imperial | – | (7 066) | (7 066) | |||||
| 596 | (378) | (1 954) | ||||||
| Net decrease in cash and cash equivalents | (711) | (1 262) | (205) | |||||
| Effects of exchange rate changes on cash and cash equivalents | 56 | 15 | (42) | |||||
| Cash and cash equivalents at beginning of the year | 940 | 1 187 | 1 187 | |||||
| Cash and cash equivalents at end of the year | 7 | 285 | (60) | 940 | ||||