PERFORMANCE

 

Value added statement

  2018
R’000
  2018
%
    Restated*
2017
R’000
  2017
%
  2016
R’000
 
VALUE ADDED                      
Value added by operating activities 1 873 627   90.7     1 749 186   95.7   1 674 203  
Revenue 26 800 265         26 469 581       26 204 722  
Net operating expenses (24 926 638)         (24 720 395)       (24 530 519)  
Value added by investing activities 191 826   9.3     79 125   4.3   64 266  
Interest income 191 826         79 125       64 266  
  2 065 453   100     1 828 311   100   1 738 469  
VALUE DISTRIBUTED                      
Distributed to employees 524 187   25.4     452 985   24.8   427 116  
Salaries, wages, medical and other benefits 524 187         452 985       427 116  
Distributed to providers of finance 166 613   8.1     105 518   5.8   48 207  
Finance costs 166 613         105 518       48 207  
Distributed to the state 330 920   16.0     345 990   18.9   305 420  
Income tax 330 920         345 990       305 420  
Distributed to social responsibility 9 287   0.4     8 460   0.5   6 528  
Corporate social investment 9 287         8 460       6 528  
Value reinvested (12 863)   (0.6)     100 208   5.5   219 586  
Depreciation, amortisation and impairment 242 604         112 851       98 183  
Net discounting finance cost 136 551         (1 210)       36 270  
Loss/(gain) on associates and joint venture measured at fair value 173 645         (160 200)        
Share of (profits)/losses of associates and joint ventures (565 812)         164 941       71 770  
Deferred taxation 149         (16 174)       13 363  
Value retained 1 047 309   50.7     815 150   44.6   731 612  
Retained profit 993 624         781 254       691 590  
Minority shareholders' interest 53 685         33 896       40 022  
  2 065 453   100     1 828 311   100   1 738 469  

  2016
%
  2015
R’000
    2015
%
  2014
R’000
  2014
%
 
VALUE ADDED                      
Value added by operating activities 96.3   1 492 949     98.0   1 125 610   96.7  
Revenue     22 044 222         19 401 666      
Net operating expenses     (20 551 273)         (18 276 056)      
Value added by investing activities 3.7   30 721     2.0   38 807   3.3  
Interest income     30 721         38 807      
  100   1 523 670     100   1 164 417   100  
VALUE DISTRIBUTED                      
Distributed to employees 24.7   407 448     26.8   332 542   28.6  
Salaries, wages, medical and other benefits     407 448         332 542      
Distributed to providers of finance 2.8   67 964     4.5   22 993   2.0  
Finance costs     67 964         22 993      
Distributed to the state 17.6   275 768     18.1   208 996   17.9  
Income tax     275 768         208 996      
Distributed to social responsibility 0.4   5 336     0.4   5 075   0.4  
Corporate social investment     5 336         5 075      
Value reinvested 12.6   185 961     12.2   145 896   12.5  
Depreciation, amortisation and impairment     94 019         65 137      
Net discounting finance cost     22 875         26 440      
Loss/(gain) on associates and joint venture measured at fair value                  
Share of (profits)/losses of associates and joint ventures     79 338         56 873      
Deferred taxation     (10 271)         (2 554)      
Value retained 42.1   581 193     38.1   448 915   38.6  
Retained profit     577 617         450 230      
Minority shareholders' interest     3 576         (1 315)      
  100   1 523 670     100   1 164 417   100  
* As a result of the revised guidance in Circular 2/2017 the Group has restated its comparative financial information for a change in accounting policy. Refer to note 10.5 of the Group annual financial statements for details.

Value distributed   Value distributed   Value distributed
Value distributed 2018   Value distributed 2017   Value distributed 2016

Value distributed   Value distributed    
Value distributed 2015   Value distributed 2014