Value added statement

			2023  R'000	2023  %	2022  R'000	2022  %	2021  R'000	2021  %	2020  R'000	2020  %
VALUE ADDED
Value added by operating activities			2 208 065	84.3	2 433 050	96.8	2 036 799	97.2	2 029 637	95.5
Revenue			18 918 263		17 806 262		18 864 344		23 312 162
Net operating expenses			(16 710 198)		(15 373 212)		(16 827 545)		(21 282 525)
Value added by investing activities			411 540	15.7	80 993	3.2	59 719	2.8	95 761	4.5
Interest income			411 540		80 993		59 719		95 761
			2 619 605	100	2 514 043	100	2 096 518	100	2 125 398	100
VALUE DISTRIBUTED
Distributed to employees			945 501	36.0	780 255	31.0	637 387	30.4	619 167	29.1
Salaries, wages, medical and other benefits			945 501		780 255		637 387		619 167
Distributed to providers of finance			682 599	26.1	201 225	8.0	131 949	6.3	236 186	11.1
Finance costs			682 599		201 225		131 949		236 186
Distributed to the state			257 276	9.8	226 591	9.0	200 013	9.5	307 388	14.5
Income tax*			257 276		226 591		200 013		307 388
Distributed to socio-economic responsibility			14 914	0.6	17 548	0.7	12 052	0.6	14 584	0.7
Socio-economic development			14 914		17 548		12 052		14 584
Value reinvested			431 142	16.5	196 427	7.8	237 101	11.3	728 968	34.3
Depreciation, amortisation and impairment			121 164		110 798		181 113		750 754
Reversal of impairment of investment in associate			(962 531)		—		—		—
Share of losses/(profits) of associates and joint ventures			1 329 747		(8 042)		(2 951)		(13 640)
Deferred taxation			(57 238)		93 671		58 939		(8 146)
Value retained			288 173	11.0	1 091 997	43.5	878 016	41.9	219 105	10.3
Retained profit			268 966		1 027 079		830 607		124 481
Minority shareholders' interest			19 207		64 918		47 409		94 624
			2 619 605	100	2 514 043	100	2 096 518	100	2 125 398	100

*	Income tax relates to corporate taxes paid in terms of the Income Tax Act.