Bidcorp

Condensed interim consolidated statement of cash flows

for the

Download (EXCEL)

			Half-year ended
			December 31						Year ended
R000s			2019* Unaudited			2018   Unaudited   Re-presented#			June 30  2019  Audited
Cash flows from operating activities			2 065 619			471 779			2 332 967
	Operating profit		3 509 392			3 205 490			6 568 380
	Dividends from jointly controlled entity		20 000			–			–
	Acquisition costs		1 590			8 613			27 686
	Depreciation and amortisation		684 696			642 287			1 330 200
	Amortisation on Right-of-Use lease assets		355 010			–			–
	Equity-settled incentive scheme		(272 309)			–			–
	Non-cash items#		182			109 880			94 436
	Cash generated by operations before changes in working capital		4 298 561			3 966 270			8 020 702
		Changes in working capital	(239 102)			(1 450 864)			(1 439 767)
	Cash generated by operations		4 059 459			2 515 406			6 580 935
	Net finance charges paid		(113 165)			(137 672)			(262 813)
	Taxation paid		(950 167)			(679 662)			(1 423 951)
	Dividends paid		(1 106 834)			(939 132)			(1 978 885)
	Net operating cash flows from discontinued operations		176 326			(287 161)			(582 319)
Cash effects of investment activities			(1 571 867)			(1 811 952)			(3 739 498)
	Additions to property, plant and equipment		(1 382 177)			(1 268 473)			(2 957 607)
	Acquisition of subsidiaries		(159 297)			(337 512)			(448 640)
	Additions to intangible assets		(98 729)			(69 848)			(156 023)
	Proceeds on disposal of property, plant and equipment		102 583			29 248			271 349
	Proceeds on disposal of investments		85 755			21 180			33 202
	Proceeds on disposal of interests in subsidiaries		33 185			–			–
	Receipts from associates		3 328			–			70 409
	Proceeds on disposal of intangible assets		54			–			3
	Payments made to vendors for acquisition#		(45 017)			(179 021)			(297 443)
	Payments made to puttable non-controlling interests#		–			–			(74 428)
	Investments acquired		(61 287)			–			(79 166)
	Investment in jointly controlled entity		–			–			(51 017)
	Net investing cash flows from discontinued operations		(50 265)			(7 526)			(50 137)
Cash effects of financing activities			(929 735)			438 943			856 149
	Borrowings raised		2 711 617			2 526 433			5 135 168
	Borrowings repaid		(2 967 886)			(2 090 041)			(4 232 742)
	Right-of-Use lease liability payments		(655 765)			–			–
	(Payments to) receipts from non-controlling interests		(17 701)			2 551			(39 971)
	Treasury shares purchased during the year#		–			–			(6 306)
Net decrease in cash and cash equivalents			(435 983)			(901 230)			(550 382)
Cash and cash equivalents at beginning of period			6 058 269			6 643 149			6 643 149
Exchange rate adjustment			27 762			95 191			(34 498)
Cash and cash equivalents at end of period			5 650 048			5 837 110			6 058 269
Cash and cash equivalents comprise:
	Cash and cash equivalents		5 302 854			5 279 911			5 775 863
	Cash and cash equivalents of discontinued operations		363 661			594 267			282 406
	Bank overdrafts included in short-term borrowings		(16 467)			(37 068)			–
			5 650 048			5 837 110			6 058 269

*	These figures include the impact of IFRS 16: Leases. For like-for-like comparison refer to the pro forma financial statements set out in the Annexure, which exclude the impact of IFRS 16: Leases
#	Refer to statement of cash flow re-presentation note