Value added statement

	2017 R’000	2017 %	2016 R’000	2016 %	2015 R’000	2015 %
VALUE ADDED
Value added by operating activities	1 792 768	95.8	1 674 203	96.3	1 492 949	98.0
Revenue	26 311 875		26 204 722		22 044 222
Net operating expenses	(24 519 107)		(24 530 519)		(20 551 273)
Value added by investing activities	79 125	4.2	64 266	3.7	30 721	2.0
Interest income	79 125		64 266		30 721

	1 871 893	100	1 738 469	100	1 523 670	100
VALUE DISTRIBUTED
Distributed to employees	452 985	24.2	427 116	24.6	407 448	26.8
Salaries, wages, medical and other benefits	452 985		427 116		407 448
Distributed to providers of finance	105 518	5.6	48 207	2.8	67 964	4.5
Finance costs	105 518		48 207		67 964
Distributed to the state	345 990	18.5	305 420	17.6	275 768	18.1
Income tax	345 990		305 420		275 768
Distributed to social responsibility	8 460	0.5	6 528	0.4	5 336	0.4
Corporate social investment	8 460		6 528		5 336
Value reinvested	138 079	7.4	219 586	12.6	185 961	12.2
Depreciation, amortisation and impairment	112 851		98 183		94 019
Net discounting finance cost	34 440		36 270		22 875
Gain on associates and joint venture measured at fair value	(160 200)		–		–
Share of losses of associates and joint ventures	164 941		71 770		79 338
Deferred taxation	(13 953)		13 363		(10 271)
Value retained	820 861	43.8	731 612	42.0	581 193	38.0
Retained profit	786 965		691 590		577 617
Minority shareholders' interest	33 896		40 022		3 576

	1 871 893	100	1 738 469	100	1 523 670	100

	2014 R’000	2014 %	2013 R’000	2013 %	2012 R’000	2012 %
VALUE ADDED
Value added by operating activities	1 125 610	96.7	1 050 765	95.9	1 068 131	94.7
Revenue	19 401 666		18 984 210		18 722 080
Net operating expenses	(18 276 056)		(17 933 445)		(17 653 949)
Value added by investing activities	38 807	3.3	45 489	4.1	59 730	5.3
Interest income	38 807		45 489		59 730

	1 164 417	100	1 096 254	100	1 127 861	100
VALUE DISTRIBUTED
Distributed to employees	332 542	28.6	332 901	30.4	329 406	29.2
Salaries, wages, medical and other benefits	332 542		332 901		329 406
Distributed to providers of finance	22 993	2.0	23 767	2.2	3 307	0.3
Finance costs	22 993		23 767		3 307
Distributed to the state	208 996	17.9	215 075	19.6	190 759	16.9
Income tax	208 996		215 075		190 759
Distributed to social responsibility	5 075	0.4	4 242	0.4	3 340	0.3
Corporate social investment	5 075		4 242		3 340
Value reinvested	145 896	12.5	112 164	10.2	181 575	16.1
Depreciation, amortisation and impairment	65 137		67 951		91 557
Net discounting finance cost	26 440		15 558		66 505
Gain on associates and joint venture measured at fair value	–		–		–
Share of losses of associates and joint ventures	56 873		47 326		19 835
Deferred taxation	(2 554)		(18 671)		3 678
Value retained	448 915	38.6	408 105	37.2	419 474	37.2
Retained profit	450 230		424 841		438 104
Minority shareholders' interest	(1 315)		(16 736)		(18 630)

	1 164 417	100	1 096 254	100	1 127 861	100

Value distributed	Value distributed	Value distributed	Value distributed	Value distributed	Value distributed