| Notes | 2023 R'000 |
2022 R'000 |
||
|---|---|---|---|---|
| Cash flows from operating activities | ||||
| Cash received from customers | 19 227 226 | 16 698 666 | ||
| Cash paid to suppliers, financiers and employees | (19 024 350) | (15 764 089) | ||
| Cash generated by operations | 1.6 | 202 876 | 934 577 | |
| Interest received | 174 039 | 80 993 | ||
| Interest paid | (663 908) | (201 091) | ||
| Taxation paid | (214 850) | (165 710) | ||
| Net cash (utilised in)/generated from operating activities | (501 843) | 648 769 | ||
| Cash flows from investing activities | ||||
| Acquisition of intangible assets* | (936 140) | (1 013 334) | ||
| Proceeds on disposal of intangible assets | 4 | — | ||
| Acquisition of property, plant and equipment | 4.3 | (119 167) | (77 813) | |
| Proceeds on disposal of property, plant and equipment | 7 847 | 9 793 | ||
| Acquisition of subsidiaries, net of cash acquired** | (29 707) | — | ||
| Additional investment in and acquisition of shares in associates | 2.1.2 | (372 609) | (15 340) | |
| Contingent consideration received*** | — | 117 791 | ||
| Loans advanced to associates and joint ventures | (1 093 013) | (26 565) | ||
| Loans repaid by associates and joint ventures | 194 681 | 1 805 | ||
| Dividend received from associate and joint venture | 2.1.2 | — | 5 885 | |
| Loans receivable carried at fair value repaid | 3.5 | 13 540 | — | |
| Loans granted | (65 539) | (40 774) | ||
| Loans receivable repaid | 38 252 | 27 943 | ||
| Net cash utilised in investing activities | (2 361 851) | (1 010 609) | ||
| Cash flows from financing activities | ||||
| Interest-bearing borrowings raised | 3.4.2 | 1 867 861 | 1 627 141 | |
| Interest-bearing borrowings repaid | 3.4.2 | (381 248) | (870 502) | |
| Non-interest-bearing borrowings repaid | 3.4.2 | — | (270) | |
| Lease repayments | 3.8 | (42 032) | (37 857) | |
| Issuance of class B Preference Shares | 3.5 | 66 859 | — | |
| Acquisition of non-controlling interest | 6.2 | — | (11 000) | |
| Acquisition of treasury shares**** | 6.1 | (66 033) | (9 301) | |
| Dividends paid to non-controlling interest | (2 474) | (30 050) | ||
| Net cash generated by financing activities | 1 442 933 | 668 161 | ||
| Net (decrease)/increase in cash and cash equivalents | (1 420 761) | 306 321 | ||
| Cash and cash equivalents at the beginning of the year | 2 723 528 | 2 417 207 | ||
| Cash and cash equivalents at the end of the year | 3.3.4 | 1 302 767 | 2 723 528 |
| * | Acquisitions of intangible assets in the current period include significant cash outflows of R832 million (2022: R928 million) relating to the subscription income sharing arrangement that commenced during the 2021 financial year. |
| ** | The Group acquired 50% of Aligned Partnered Solutions Proprietary Limited’s share capital on 31 March 2023 for a purchase consideration of R500. The Group further acquired 60% of Lipa Payments Proprietary Limited’s share capital on 24 April 2023 for a purchase consideration of R30 million. |
| *** | Prior year settlement of the contingent consideration relating to the disposal of the VAS operations in April 2020. |
| **** | Approximately 10 million shares were repurchased over the period 25 August 2022 to 19 September 2022 at a weighted average price of R6.58 per share. |
Blue Label Telecoms Integrated Annual Report 2023
