Summarised consolidated statements of cash flows
| Download (EXCEL) |
| For the year ended | ||||
| 31 December 2020 audited R'000 |
31 December 2019 audited Restated* R'000 |
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| Loss before tax | (1 345 752) | (1 866 916) | ||
|---|---|---|---|---|
| Depreciation and amortisation | 153 361 | 467 261 | ||
| Impairment | 1 365 962 | 1 789 316 | ||
| Finance income | (6 517) | (11 998) | ||
| Finance expense | 1 713 | 1 594 | ||
| Share-based payment (income)/expense | (649) | 155 | ||
| Share grants exercised | (582) | (3 588) | ||
| Embedded derivative expense | (5 614) | 40 677 | ||
| Provisions | (163 686) | 46 816 | ||
| Movement in long-term receivable | 2 630 | (3 617) | ||
| Profit on sale of property, plant and equipment | (167) | (17 087) | ||
| Unicorn fair value adjustment | 1 936 | – | ||
| Income from equity-accounted investment | (860) | – | ||
| Net realisable value inventory adjustment | 13 583 | 133 000 | ||
| Effect of exchange rate fluctuations on cash held during the year | 87 908 | 4 410 | ||
| Non-cash movement | (3 006) | 3 055 | ||
| Working capital changes adjustment | 390 521 | 101 667 | ||
| Cash generated from operating activities | 490 782 | 684 745 | ||
| Interest paid | (1 617) | (1 524) | ||
| Interest received | 6 156 | 10 952 | ||
| Taxation (paid)/received | (15) | 5 040 | ||
| Net cash generated from operating activities | 495 306 | 699 213 | ||
| Proceeds from sale of property, plant and equipment | 169 | 3 037 | ||
| Sustaining capital expenditure | (333 676) | (469 644) | ||
| Expansionary capital expenditure | (9 310) | – | ||
| Investment purchase | (33 124) | – | ||
| Net cash utilised in investing activities | (375 941) | (466 607) | ||
| Dividends paid | (100 428) | (150 642) | ||
| Lease liabilities repaid | (7 581) | (4 228) | ||
| Net cash utilised in financing activities | (108 009) | (154 870) | ||
| Net increase in cash and cash equivalents | 11 356 | 77 736 | ||
| Cash and cash equivalents at 1 January | 354 181 | 280 855 | ||
| Effect of foreign exchange rate changes | (87 908) | (4 410) | ||
| Cash and cash equivalents at 31 December | 277 629 | 354 181 | ||
| * | The 2019 financial statements have been restated. The unwinding of the discount on the rehabilitation provision has been restated due to an error in accounting for the change in estimate, out of finance income in the prior year into operating and other expenses and the impairment expense. This has also impacted the change in estimate in the rehabilitation provision with a non-cash impact out of sustaining capital expenditure. In addition, the non-cash movement of inventory net realisable value write down has been restated in the cashflow statement. Refer to note 6 on the prior year restatement. |