FINANCIAL REPORT
Our portfolio continued to deliver a resilient set
of results despite the impact of a subdued macroeconomic
environment, underpinned by our strong capital
allocation strategy.
FINANCIAL REPORT
Our portfolio continued to deliver a resilient set
of results despite the impact of a subdued macroeconomic
environment, underpinned by our strong capital
allocation strategy.
| R million | Notes | 30 June 2022 |
30 June 2021 |
|
Assets |
||||
| Non-current assets | ||||
| Property, plant and equipment | 17 831 | 16 765 | ||
| Investment properties | 137 | 124 | ||
| Intangible assets | 4 | 20 275 | 20 680 | |
| Investments | – Equity accounted | 5 | 50 771 | 50 207 |
| – Financial assets at fair value through other comprehensive income (FVOCI)(1) | 20 650 | 14 342 | ||
| Financial assets at fair value through profit and loss (FVPL) | 242 | 214 | ||
| Retirement benefits | 709 | 692 | ||
| Long-term loans and debtors | 155 | 146 | ||
| Deferred taxation | 219 | 208 | ||
| 110 989 | 103 378 | |||
| Current assets | 45 709 | 37 388 | ||
| Inventories | 13 568 | 12 621 | ||
| Biological agricultural assets | 1 232 | 955 | ||
| Debtors and short-term loans | 11 903 | 9 597 | ||
| Loans to equity accounted investments | 15 | 94 | ||
| Financial assets at FVPL | 78 | 83 | ||
| Taxation | 98 | 258 | ||
| Investment in money market funds | 5 700 | 5 010 | ||
| Cash and cash equivalents | 11 884 | 8 763 | ||
| 44 478 | 37 381 | |||
| Assets held for sale | 1 231 | 7 | ||
| Total assets | 156 698 | 140 766 | ||
Equity and liabilities |
||||
| Stated capital | 13 416 | 13 416 | ||
| Reserves | 85 712 | 75 204 | ||
| Treasury shares | (685) | (561) | ||
| Shareholders’ equity | 98 443 | 88 059 | ||
| Non-controlling interest | 17 437 | 15 517 | ||
| Total equity | 115 880 | 103 576 | ||
| Non-current liabilities | 21 128 | 20 103 | ||
| Retirement benefits | 149 | 136 | ||
| Long-term loans | 6 | 11 693 | 11 978 | |
| Lease liabilities | 959 | 1 440 | ||
| Deferred taxation | 8 276 | 6 389 | ||
| Hedge derivatives | 51 | 160 | ||
| Current liabilities | 19 690 | 17 087 | ||
| Trade and other payables | 16 025 | 12 844 | ||
| Short-term loans | 2 681 | 3 401 | ||
| Lease liabilities | 231 | 275 | ||
| Financial liabilities at FVPL | 33 | 471 | ||
| Taxation | 325 | 96 | ||
| 19 295 | 17 087 | |||
| Liabilities held for sale | 395 | – | ||
| Total equity and liabilities | 156 698 | 140 766 | ||
| (1) | During April 2022 RMI unbundled its investments in Discovery and Momentum Metropolitan. Remgro received a 7.7% interest in Discovery (amounting to R8 561 million) and an 8.6% interest in Momentum Metropolitan (amounting to R2 056 million) and both the investments were classified as financial instruments at fair value through other comprehensive income. Refer to note 13 for further detail. |
The 2022 Annual General Meeting of Remgro will be held by way of electronic participation only (refer to the Notice of Shareholders regarding the electronic participation process).