Blue Label Telecoms Integrated Annual Report 2019

28 Blue Label annual financial statements 2019 Group statement of cash flows For the year ended 31 May 2019 Notes 2019 R’000 2018 R’000 Cash flows from operating activities Cash received from customers 25 995 287 23 588 810 Cash paid to suppliers, financiers and employees (25 564 000) (20 000 031) Cash generated by operations 1.6 431 287 3 588 779 Interest received 88 416 154 952 Interest paid (231 131) (187 489) Taxation paid (369 086) (368 099) Net cash (utilised in)/generated from operating activities (80 514) 3 188 143 Cash flows from investing activities Acquisition of intangible assets 4.2 (75 931) (31 183) Proceeds on disposal of intangible assets 51 — Proceeds on disposal of property, plant and equipment 5 230 6 486 Acquisition of property, plant and equipment 4.3 (134 028) (71 640) Acquisition of subsidiary net of cash acquired 2.4 (7 162) (291 240) Acquisition of associate — (6 124 127) Transaction costs on associates — (55 131) Capital contribution to Oxigen Services India — (25 076) Purchase of bond notes 3.7 — (117 037) Liquidity support granted 3.7 (326 388) — Loan repaid by Cell C 1 135 759 — Loan granted to Cell C (106 132) (1 017 522) Loans advanced to associates and joint ventures (13 284) (31 641) Loans repaid by associates and joint ventures 1 690 — Dividend received from associate and joint venture 17 992 4 251 Loans granted (29 916) (54 981) Loans receivable repaid 96 007 78 329 Settlement of contingent consideration (2 614) (27 867) Net cash generated by/(utilised in) investing activities 561 274 (7 758 379) Cash flows from financing activities Interest-bearing borrowings raised 3.6.2 993 439 935 442 Interest-bearing borrowings repaid 3.6.2 (769 652) — Non-interest-bearing borrowings raised 3.6.2 35 876 — Non-interest-bearing borrowings repaid 3.6.2 (170) (58) Proceeds from shares issued 6.1 — 3 650 000 Transaction costs on share issue — (12 424) Share buy-back (224 006) — Acquisition of treasury shares 6.1 (42 378) (28 846) Dividends paid to non-controlling interest (35 550) (27 750) Dividends paid to equity holders of the parent — (349 804) Net cash (utilised in)/generated by financing activities (42 441) 4 166 560 Net increase/(decrease) in cash and cash equivalents 438 319 (403 676) Cash and cash equivalents at the beginning of the year 947 888 1 350 666 Exchange gains on cash and cash equivalents (8 454) 898 Cash and cash equivalents at the end of the year 3.5.4 1 377 753 947 888