STATEMENT OF Cash Flows

for the year ended 30 June 2023

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.