Consolidated summary statement of cash flows

for the year ended 31 March 2022

Notes

31 March
2022
Rm

Restated 31 March
2021¹
Rm

Cash flows from operating activities

8 152

10 941

Cash receipts from customers

41 614

43 790

Cash paid to suppliers and employees

(31 728)

(29 407)

Cash generated from operations

9 886

14 383

Interest received

235

332

Dividend received

–

Finance charges paid

(1 188)

(1 291)

Taxation paid

13.2

(764)

(2 194)

Repayment of derivatives – FECs

(114)

(158)

Proceeds from derivatives – FECs

126

Cash generated from operations before dividend paid

8 157

11 198

Dividend paid

(5)

(257)

Cash flows utilised for investing activities

(9 298)

(8 294)

Proceeds on disposal of property, plant and equipment and intangible assets

Additions to assets for capital expansion

(8 031)

(8 311)

Investments made by Future Makers

(53)

(54)

Investment in SA SME Fund

(9)

–

Repayment of derivatives – FECs

(267)

(477)

Proceeds fromderivatives – FECs

188

378

Restricted cash

12.2

(1 142)

–

Withdrawal fromthe Absa sinking fund investment

–

164

Cash flows from financing activities

(617)

(2 371)

Loans raised

1 150

268

Loans repaid

(193)

(1 400)

Purchase of shares for the Telkom and subsidiaries

long-term incentive share scheme

(393)

(285)

Repayment of lease liability

(1 076)

(856)

Repayment of derivatives – interest rate swaps

(105)

(98)

Net (decrease)/increase in cash and cash equivalents

(1 763)

276

Net cash and cash equivalents at 1 April

5 002

4 726

Net cash and cash equivalents at the end of the year

12.1

3 239

5 002

The Group restated the statement of cash flows to correctly classify repayments of R158 million and proceeds of R126 million in respect of FECs relating to inventory purchases, and R477 million of repayments and R378 million of proceeds in respect of the FECs relating to capital expenditure from financing activities to operating activities and investing activities, respectively. Due to the reclassification, the FEC fair value movements which form part of inventory working capital movement changed, as well as the FEC fair value movement capitalised to property, plant and equipment. This resulted in a decrease of R139 million in cash paid to suppliers and employees and an increase in additions to assets for capital expansion of R139 million. The change in classification of the cash flows did not impact the net cash and cash equivalents balance at the end of the reporting period.