| Group | |||
| For the year ended 31 December | Note | 2023 Rm |
2022 Rm |
| Profit before tax | 17 934 | 22 292 | |
|---|---|---|---|
| Adjusted for: | |||
| – Finance income | 12.1.2 | (1 570) | (694) |
| – Finance costs | 12.1.2 | 1 252 | 1 052 |
| – Dividend income from financial assets | (2) | (6) | |
| – Share of income of equity-accounted investments | (6 987) | (6 477) | |
| – Impairment charges of equity-accounted investments | 53 | ||
| Net operating profit | 10 627 | 16 220 | |
| Non-cash movements: | 6.1.3 | ||
| – Depreciation and amortisation | 6.1.3 | 2 715 | 2 681 |
| – ECLs on financial assets at amortised costs | 6.1.3 | 21 | 79 |
| – Write-off of trade and other receivables and ESD loans | 6.1.3 | 6 | 4 |
| – Write-off of other current assets | 6.1.3 | 32 | |
| – Movement in provisions | 6.1.3 | 70 | 474 |
| – Movement in retirement employee obligations | 6.1.3 | 11 | 9 |
| – Net currency exchange differences | (46) | 32 | |
| – Fair value adjustments on financial instruments | (284) | (51) | |
| – Gain on termination of lease | (3) | ||
| – Loss on termination of right-of-use asset | 1 | ||
| – Net losses on disposal of property, plant and equipment | 6.1.3 | 57 | 97 |
| – Loss on disposal of subsidiary | 1 | ||
| – Loss on dilution of investment in associate | 6.1.3 | 2 | |
| – Indemnification asset movement | 6.1.3 | 5 | (5) |
| – Share-based payment expense | 6.1.3 | 212 | 207 |
| – Hedge ineffectiveness on cash flow hedges | 6.1.3 | 18 | 13 |
| – Translation of net investment in foreign operations | (8) | ||
| – Translation of foreign currency items | (85) | (351) | |
| – Amortisation of transaction costs prepaid | 4 | 4 | |
| – Non-cash recoveries | 23 | (194) | |
| – Non-cash deposit facilities | (373) | ||
| – Non-cash management fees on deposit facilities | 53 | ||
| – Other non-cash movements | 8 | 5 | |
| Cash generated by operations before working capital movements | 13 074 | 19 217 | |
| Working capital movements | |||
| – (Increase)/decrease in inventories | (212) | 1 | |
| – (Decrease)/increase in trade and other receivables | 449 | (1 312) | |
| – Increase in trade and other payables | 68 | 999 | |
| – Utilisation of provisions | 13.3 | (72) | (42) |
| Cash generated by operations | 13 307 | 18 863 | |
| Company | |||
| For the year ended 31 December | Note | 2023 Rm |
2022 Rm |
| Profit before tax | 8 002 | 11 807 | |
|---|---|---|---|
| Adjusted for: | |||
| Items separately presented: | 12.1.2 | ||
| – Finance income | (1 313) | (566) | |
| – Finance costs | 12.1.2 | 1 543 | 3 517 |
| – Dividend income from financial assets | (1) | ||
| Non-cash movements: | |||
| – Dividend revenue from subsidiaries | (4 405) | (5 619) | |
| – Depreciation and amortisation | 6.1.3 | 199 | 179 |
| – Interest income accrued not yet received | (2) | ||
| – Impairment charges of investments in associates | 8.4 | 143 | |
| – Impairment charges of investments in subsidiaries | 8.4 | 32 | |
| – Write-off of other current assets | 5 | ||
| – ECLs on financial assets at amortised costs | 6.1.3 | 328 | 29 |
| – Write-off of trade and other receivables and ESD loans | 6.1.3 | 2 | 5 |
| – Movement in provisions | 6.1.3 | (1) | 7 |
| – Net currency exchange differences | 16 | 12 | |
| – Fair value adjustments on financial instruments | (3) | (1) | |
| – Net losses on disposal of property, plant and equipment | 36 | 9 | |
| – Net loss on disposal of subsidiary | 42 | ||
| – Share-based payment expense | 129 | 129 | |
| – Amortisation of transaction costs prepaid | 4 | 4 | |
| Cash generated by operations before working capital movements | 4 572 | 9 696 | |
| Working capital movements | |||
| – Increase in inventories | (3) | (1) | |
| – Decrease in trade and other receivables | 110 | 31 | |
| – Decrease in treasury facilities with subsidiaries at amortised cost (receivable) | 163 | 4 275 | |
| – (Decrease)/increase in trade and other payables | (75) | 21 | |
| – Increase in non-interest bearing loans from subsidiaries | 685 | 9 | |
| – Increase in treasury facilities with subsidiaries at amortised cost (payable) | 6 703 | 7 724 | |
| Cash generated by operations | 12 155 | 21 755 | |
IR