Tiger Brands | Annual Financial Statements 2022

Five-year review

(R’million)	2022	2021	2020	2019	2018
Consolidated income statements
Revenue	34 029	30 954	29 796	28 579	28 365
Profit before taxation, income from associates, non-operational items and impairments	3 424	2 180	2 319	3 193	3 271
Income from associates	478	346	352	371	731
Impairments, fair value losses and non-operational items	12	(127)	(451)	1 762	(620)
Profit before taxation	3 915	2 399	2 220	5 326	3 382
Taxation	(1 020)	(597)	(727)	(965)	(835)
Profit for the year from continuing operations	2 895	1 802	1 493	4 361	2 547
*Attributable to:*
Owners of the parent – continuing operations	2 865	1 773	1 467	4 333	2 520
Non-controlling interests – continuing operations	31	29	26	28	27
Consolidated statements of financial position
Property, plant and equipment	5 695	5 481	5 059	4 976	4 599
Goodwill and intangible assets	2 899	2 909	2 943	3 221	3 447
Investments	2 987	3 047	2 855	2 732	5 102
Current assets	12 403	11 362	10 618	11 213	10 764
Assets classified as held for sale	–	–	419	24	–
Total assets	23 984	22 799	21 894	22 166	23 912
Issued capital and reserves before share-based payment reserve	14 798	14 855	14 941	14 612	16 691
Share-based payment reserve	753	700	687	632	611
Non-controlling interests	142	147	159	163	163
Deferred taxation liability	206	150	337	402	354
Provision for post-retirement medical aid	323	564	518	583	618
Long-term borrowings	326	399	197	–	74
Current liabilities	7 436	5 984	4 752	5 625	5 401
Liabilities classified as held for sale	–	–	304	149	–
Total equity and liabilities	23 984	22 799	21 894	22 166	23 912
Consolidated cash flow statements
Cash operating profit after interest and taxation	3 248	3 072	2 297	2 528	2 998
Working capital changes	(1 630)	110	(53)	91	(573)
Dividends received	372	115	106	282	179
Cash available from operations	1 990	3 297	2 350	2 901	2 604
Dividends and capital distributions paid	(1 386)	(1 684)	(741)	(2 284)	(1 855)
Net cash flow from operating activities	604	1 613	1 609	617	749
Net cash flow from investing activities	(998)	(856)	(797)	(33)	(599)
Net cash flow before financing activities	(394)	757	812	584	150
Net cash flow from financing activities	(655)	(245)	(246)	(100)	(2)
Net (decrease)/increase in cash and cash equivalents	(1 049)	512	566	484	148