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Our business
Operating context
Delivering on our strategy
Our governance structure
Administration
Summarised consolidated statement of cash flows
for the year ended 31 March
Rm
2017
2016
Cash generated from operations
31 791
29 800
Tax paid
(6 051)
(5 456)
Net cash flows from operating activities
25 740
24 344
Cash flows from investing activities
Additions to property, plant and equipment
and intangible assets
(11 689)
(13 565)
Proceeds from disposal of property, plant and
equipment
and intangible assets
73
336
Business combinations
(285)
(573)
Finance income received
689
683
Repayment of loans granted and equity investments
295
(39)
Other investing activities
1
(1 278)
(522)
Net cash flows utilised in investing activities
(12 195)
(13 680)
Cash flows from financing activities
Borrowings incurred
4 000
6 789
Borrowings repaid
(1 568)
(4 004)
Finance costs paid
(2 699)
(2 397)
Dividends paid – equity shareholders
(11 657)
(11 658)
Dividends paid – non-controlling interests
(91)
(78)
Repurchase and sale of shares
(134)
(167)
Changes in subsidiary holdings
240
(129)
Net cash flows utilised in financing activities
(11 909)
(11 644)
Net increase/(decrease) in cash and cash
equivalents
1 636
(980)
Cash and cash equivalents at the beginning
of the year
7 751
8 870
Effect of foreign exchange rate changes
(514)
(139)
Cash and cash equivalents at the end
of the year
8 873
7 751
1. Consists mainly of the movement in cash restricted deposits as a result of M-Pesa-related activities.
Driven by strong EBITDA performance,
partially offset by an increase in tax
payments of R595 million, mainly due to
increased profits in South Africa and
provisional tax payments in Mozambique.
The decrease in cash outflows from
net additions to property, plant and
equipment and intangible assets mainly
relate to lower capital expenditure of
R1 584 million.
The increase in the outflow relates
mainly to a loan provided to the minority
shareholders of VodacomMozambique.
Business combinations relate to the
current year acquisition of Shared
Networks Tanzania and the payment
of the deferred consideration relating
to the mobile customer base acquired
from Autopage in the previous
financial year.
Current year includes a transaction
with the minority shareholders in
Mozambique. Prior year includes the
acquisition of additional interest in
Stortech and XLink.