Value-added statement

		2021* R'000	2021* %	2020* R'000	2020* %	2019* R'000	2019* %	2018* R'000	2018* %
VALUE ADDED
Value added by operating activities		2 036 798	97.2	2 029 637	95.5	2 284 291	95.9	1 945 220	91.0
Revenue		18 864 344		23 312 162		25 869 433		26 734 249
Net operating expenses		(16 827 546)		(21 282 525)		(23 585 142)		(24 789 029)
Value added by investing activities		59 719	2.8	95 761	4.5	96 809	4.1	191 826	9.0
Interest income		59 719		95 761		96 809		191 826
		2 096 516	100	2 125 398	100	2 381 100	100	2 137 046	100
VALUE DISTRIBUTED
Distributed to employees		637 387	30.4	619 167	29.1	594 183	25.0	524 187	24.5
Salaries, wages, medical and other benefits		637 387		619 167		594 183		524 187
Distributed to providers of finance		131 949	6.3	236 186	11.1	231 132	9.7	166 613	7.8
Finance costs		131 949		236 186		231 132		166 613
Distributed to the state		200 013	9.5	307 388	14.5	339 670	14.3	330 920	15.5
Income tax		200 013		307 388		339 670		330 920
Distributed to social responsibility		12 052	0.6	14 584	0.7	15 339	0.6	9 287	0.4
Corporate social investment		12 052		14 584		15 339		9 287
Value reinvested		237 101	11.3	728 968	34.3	7 822 972	328.5	(69 731)	(3.3)
Depreciation, amortisation and impairment		181 113		750 754		4 134 181		314 197
Share of (profits)/losses of associates and joint ventures		(2 951)		(13 640)		3 701 410		(520 628)
Deferred taxation		58 939		(8 146)		(24 548)		149
Value retained		878 015	41.9	219 105	10.3	(6 622 196)	(278.1)	1 175 770	55.0
Retained profit		830 607		124 481		(6 646 383)		1 122 085
Minority shareholders' interest		47 408		94 624		24 187		53 685
		2 096 516	100	2 125 398	100	2 381 100	100	2 137 046	100

*	The value added statement has been prepared based on the results of both the continuing and discontinued operations of the Group. Refer to note 11 of the Group annual financial statements for details of discontinued operations.