|
|
|
2008 |
2007 |
2006 |
| |
Notes |
|
Rm |
Rm |
Rm |
| Cash flows from operating activities |
|
|
|
|
|
| Cash receipts from customers |
|
|
46 589 |
49 697 |
42 840 |
| Cash paid to employees and suppliers |
|
|
(42 855) |
(43 858) |
(36 773) |
| Cash generated from operations |
|
|
3 734 |
5 839 |
6 067 |
| Finance costs |
|
|
(980) |
(902) |
(630) |
| Realised fair value adjustments on financial instruments |
|
|
(157) |
(16) |
136 |
| Dividends received from investments and associates |
|
|
26 |
41 |
104 |
| Interest received |
|
|
188 |
338 |
261 |
| Taxation paid |
|
|
(830) |
(1 412) |
(1 007) |
| Cash flow from operations |
|
|
1 981 |
3 888 |
4 931 |
| Dividends paid (including minority shareholders) |
|
|
(622) |
(2 629) |
(1 295) |
Cash retained from operating activities |
|
|
1 359 |
1 259 |
3 636 |
| Cash flows from investing activities |
|
|
|
|
|
| Acquisition of subsidiaries, investments and intangibles |
|
|
(996) |
(349) |
(814) |
| Proceeds on disposal of subsidiaries, investments and intangibles |
|
|
1 098 |
1 432 |
44 |
| Net investment in fleet leasing and rental assets |
|
|
(1 904) |
(2 283) |
(2 108) |
| Acquisition of other property, plant and equipment |
|
|
(973) |
(1 485) |
(1 217) |
| Replacement capital expenditure |
|
|
(305) |
(451) |
(508) |
| Expansion capital expenditure |
|
|
(668) |
(1 034) |
(709) |
| Proceeds on disposal of property, plant and equipment |
|
|
169 |
121 |
593 |
| Proceeds on sale of leasing assets |
|
|
|
1 684 |
564 |
Net cash used in investing activities |
|
|
(2 606) |
(880) |
(2 938) |
Net cash (outflow)/inflow before financing activities |
|
|
(1 247) |
379 |
698 |
| Cash flows from financing activities |
|
|
|
|
|
| Proceeds on share issue |
|
|
23 |
139 |
90 |
| Buy-back of shares in company |
|
|
|
|
(1 160) |
| Pension fund payment |
|
|
(759) |
|
|
| Proceeds from long-term borrowings |
|
|
3 298 |
1 376 |
1 742 |
| Repayment of long-term borrowings |
|
|
(1 285) |
(3 207) |
(1 903) |
| Increase in short-term interest-bearing liabilities |
|
|
70 |
704 |
1 007 |
Net cash from/(used in) financing activities |
|
|
1 347 |
(988) |
(224) |
| Net increase/(decrease) in cash and cash equivalents |
|
|
100 |
(609) |
474 |
| Cash and cash equivalents at beginning of year |
|
|
1 201 |
2 134 |
1 399 |
| Effect of foreign exchange rate movement on cash balance |
|
|
54 |
(6) |
242 |
| Effect of cash balances classified as held for sale |
|
|
(31) |
|
19 |
| Effect of unbundling of Coatings on cash balance |
|
|
(86) |
|
|
| Effect of unbundling Pretoria Portland Cement on cash balance |
|
|
|
(318) |
|
Cash and cash equivalents at end of year |
|
|
1 238 |
1 201 |
2 134 |
| Cash balances not available for use due to reserving restrictions |
|
|
292 |
235 |
405 |
| Cash flows from operating activities (before dividends paid) |
|
|
|
|
|
| Per business segment: |
|
|
|
|
|
| Continuing operations |
|
|
|
|
|
| – Equipment |
|
|
64 |
483 |
968 |
| – Automotive |
|
|
1 204 |
1 171 |
965 |
| – Handling |
|
|
470 |
230 |
412 |
| – Logistics |
|
|
145 |
120 |
85 |
| – Corporate and other |
|
|
(191) |
120 |
(419) |
Total continuing operations |
|
|
1 692 |
2 124 |
2 011 |
| Discontinued operations |
|
|
|
|
|
| – Car rental – Scandinavia |
|
|
210 |
212 |
268 |
| – Cement |
|
|
|
1 002 |
2 197 |
| – Coatings |
|
|
(5) |
352 |
200 |
| – Scientific |
|
|
84 |
176 |
175 |
| – Steel tube |
|
|
|
22 |
80 |
Total discontinued operations |
|
|
289 |
1 764 |
2 920 |
Total group |
|
|
1 981 |
3 888 |
4 931 |
| Cash flows from investing activities |
|
|
|
|
|
| Per business segment: |
|
|
|
|
|
| Continuing operations |
|
|
|
|
|
| – Equipment |
|
|
(771) |
(778) |
(567) |
| – Automotive |
|
|
(1 678) |
(1 833) |
(802) |
| – Handling |
|
|
(109) |
1 761 |
760 |
| – Logistics |
|
|
(795) |
(26) |
(7) |
| – Corporate and other |
|
|
58 |
(36) |
(294) |
Total continuing operations |
|
|
(3 295) |
(912) |
(910) |
| Discontinued operations |
|
|
|
|
|
| – Car rental – Scandinavia |
|
|
(360) |
(211) |
(1 282) |
| – Cement |
|
|
|
(644) |
(243) |
| – Coatings |
|
|
(24) |
136 |
(350) |
| – Scientific |
|
|
1 073 |
321 |
(129) |
| – Steel tube |
|
|
|
430 |
(24) |
Total discontinued operations |
|
|
689 |
32 |
(2 028) |
Total group |
|
|
(2 606) |
(880) |
(2 938) |
| Cash flows from financing activities |
|
|
|
|
|
| Per business segment: |
|
|
|
|
|
| Continuing operations |
|
|
|
|
|
| – Equipment |
|
|
1 630 |
317 |
(352) |
| – Automotive |
|
|
762 |
488 |
718 |
| – Handling |
|
|
(87) |
(2 050) |
(1 166) |
| – Logistics |
|
|
773 |
(96) |
(89) |
| – Corporate and other |
|
|
(1 178) |
963 |
431 |
Total continuing operations |
|
|
1 900 |
(378) |
(458) |
| Discontinued operations |
|
|
|
|
|
| – Car rental – Scandinavia |
|
|
141 |
190 |
180 |
| – Cement |
|
|
|
620 |
2 |
| – Coatings |
|
|
86 |
(438) |
165 |
| – Scientific |
|
|
(780) |
(529) |
(38) |
| – Steel tube |
|
|
|
(453) |
(75) |
Total discontinued operations |
|
|
(553) |
(610) |
234 |
Total group |
|
|
1 347 |
(988) |
(224) |
Review of operations 
