FINANCIAL report

STATEMENT OF Cash Flows

R  million 30 June 
2023 
30 June 
2022 
Cash flows – operating activities       
Cash generated from operations  2 783  7 756 
Interest received  1 124  535 
Taxation paid  (2 051) (1 430)
Dividends received  2 648  2 223 
Finance costs  (1 309) (1 185)
Cash available from operating activities  3 195  7 899 
Proceeds from retirement fund assets transferred to Distell  –  55 
Cash settled share-based payments made by Distell  (715) (148)
Dividends paid  (1 075) (721)
Cash inflow from operating activities  1 405  7 085 
Cash flows – investing activities       
Investment in property, plant and equipment and other assets  (3 266) (3 272)
Proceeds on disposal of property, plant and equipment and intangible assets   257  262 
Proceeds on disposal of assets held for sale(1)  973  13 
Businesses acquired(2)  (215) (84)
Business disposed(3)  2 041  – 
Proceeds on disposal of investments and loans(4)  697  3 536 
Additions to investments and loans(5)  (7 056) (2 437)
Investment in money market funds  (190) (690)
Withdrawal of money market funds  1 308  – 
Cash outflow from investing activities  (5 451) (2 672)
Cash flows – financing activities       
Loans repaid   (1 899) (1 618)
Lease payments  (302) (474)
Purchase of treasury shares  (830) (137)
Other movements  356  367 
Cash outflow from financing activities  (2 675) (1 862)
Net increase/(decrease) in cash and cash equivalents  (6 721) 2 551 
Exchange rate profit on foreign cash  405  353 
Cash and cash equivalents at the beginning of the year  11 505  8 601 
Cash and cash equivalents at the end of the year  5 189  11 505 
Cash and cash equivalents – per statement of financial position  6 047  11 884 
Bank overdraft  (910) (379)
Included in assets and liabilities held for sale     
  Cash and cash equivalents  82  – 
  Bank overdraft  (30) – 
  • The year under review included the proceeds on the disposal of 19.2 million FirstRand shares amounting to R959 million.
  • The year under review relates to the acquisition of Sunshine Bakery Holdings Proprietary Limited by Remgro’s subsidiary RCL Foods.
  • The year under review relates to the disposal as part of the Distell/Heineken transaction. Refer to “Comparison with prior year” here for further detail.
  • During June 2022 Remgro sold 40.8 million FirstRand shares. Proceeds of R1 798 million were received by 30 June 2022 and the remaining R240 million during July 2022.
  • The year under review includes the additional investments in Mediclinic of R4 693 million and Heineken Beverages of R2 317 million. The prior year included an investment in CIVH amounting to R2 124 million.
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