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Tiger Brands Limited

Annual Financial Statements

Five-year review

Five-year review

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(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