Reconciliation of cash generated from operations to distributable earnings
| Download (EXCEL) |
| 6 months to 31 December 2019 | ||||
|---|---|---|---|---|
| SA | EE | S-SA | GROUP | |
| R'000 | R'000 | R'000 | R'000 | |
| Cash generated from operations | 1 005 196 | 21 305 | 67 499 | 1 094 000 |
| Adjustments: | ||||
| Working capital changes | (58 135) | – | 12 533 | (45 602) |
| Depreciation | (21 320) | – | (739) | (22 059) |
| Bad debts provided | (2 824) | – | (10 585) | (13 409) |
| Straightlining | (58 600) | – | (3 036) | (61 636) |
| Other non–cash items | (12 627) | – | – | (12 627) |
| Edcon impairment | 23 603 | – | – | 23 603 |
| Net interest | (175 185) | – | (86 827) | (262 012) |
| Dividends | – | 115 348 | – | 115 348 |
| Net income before fair value adjustments | 700 108 | 136 653 | (21 155) | 815 606 |
| Straightlining | 58 600 | – | 3 036 | 61 636 |
| Non-controlling interest | – | – | 6 161 | 6 161 |
| Taxation expense – Mauritius | – | – | – | – |
| Net interest adjustments | – | – | (3 403) | (3 403) |
| Edcon impairment | (23 603) | – | – | (23 603) |
| Capital items for distributable purposes | 502 | – | – | 502 |
| Distributable income | 735 607 | 136 653 | (15 361) | 856 899 |
| 6 months to 31 December 2018 | ||||
| SA | EE | S-SA | GROUP | |
|---|---|---|---|---|
| R'000 | R'000 | R'000 | R'000 | |
| Cash generated from operations | 969 262 | 20 425 | 64 685 | 1 054 372 |
| Adjustments: | ||||
| Working capital changes | 24 958 | – | (2 443) | 22 515 |
| Depreciation | (19 089) | – | (644) | (19 733) |
| Bad debts provided | 3 065 | – | – | 3 065 |
| Straightlining | (12 397) | – | (7 002) | (19 399) |
| Other non–cash items | (11 434) | – | 10 101 | (1 333) |
| Edcon impairment | – | – | – | – |
| Net interest | (121 292) | – | (17 570) | (138 862) |
| Dividends | – | 115 728 | – | 115 728 |
| Net income before fair value adjustments | 833 073 | 136 153 | 47 127 | 1 016 353 |
| Straightlining | 12 397 | – | 7 002 | 19 399 |
| Non-controlling interest | – | – | 14 544 | 14 544 |
| Taxation expense – Mauritius | – | – | (1 916) | (1 916) |
| Net interest adjustments | – | – | (62 352) | (62 352) |
| Edcon impairment | – | – | – | – |
| Capital items for distributable purposes | (788) | – | – | (788) |
| Distributable income | 844 682 | 136 153 | 4 405 | 985 240 |
| 12 months to 30 June 2019 | ||||
| SA | EE | S-SA | GROUP | |
| R'000 | R'000 | R'000 | R'000 | |
| Cash generated from operations | 1 989 011 | 44 826 | 116 095 | 2 149 932 |
| Adjustments: | ||||
| Working capital changes | (9 272) | – | 18 490 | 9 218 |
| Depreciation | (40 523) | – | (1 686) | (42 209) |
| Bad debts provided | – | – | – | – |
| Straightlining | (81 399) | – | (6 488) | (87 887) |
| Other non–cash items | (4 064) | – | 41 | (4 023) |
| Edcon impairment | 12 705 | – | – | 12 705 |
| Net interest | (239 190) | – | (221 965) | (461 155) |
| Dividends | – | 221 190 | – | 221 190 |
| Net income before fair value adjustments | 1 627 268 | 266 016 | (95 513) | 1 797 771 |
| Straightlining | 81 399 | – | 6 488 | 87 887 |
| Non-controlling interest | – | – | 30 959 | 30 959 |
| Taxation expense – Mauritius | – | – | (427) | (427) |
| Net interest adjustments | – | – | 134 | 134 |
| Edcon impairment | (12 705) | – | – | (12 705) |
| Capital items for distributable purposes | (951) | – | – | (951) |
| Distributable income | 1 695 011 | 266 016 | (58 359) | 1 902 668 |