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Value added statement
Value added statement
Download pdfValue added is a measure of the wealth the group has been able to create. The following statement shows how this wealth has been distributed.
| 2022 | 2021 | |||
| (R’million) | % | (R’million) | % | |
| Revenue | 34 028,9 | 100,0 | 30 953,9 | 100,0 |
|---|---|---|---|---|
| Less: Net cost of products and services | 26 895,2 | 79,0 | 23 714,6 | 76,6 |
| Value added | 7 133,7 | 21,0 | 7 239,3 | 23,4 |
| Add: Income from investments and associates | 514,9 | 1,5 | 366,5 | 1,2 |
| Add: Foreign exchange gains | 45,7 | 0,1 | (8,7) | – |
| Wealth created | 7 694,3 | 22,6 | 7 597,1 | 24,6 |
| Applied to: | ||||
| Employees | ||||
| – Salaries, wages and other benefits | 4 287,7 | 55,7 | 3 989,2 | 52,5 |
| Providers of capital | 1 506,7 | 19,6 | 1 760,1 | 23,2 |
| – Interest on financing facilities | 89,1 | 1,2 | 57,0 | 0,7 |
| – Dividends and capital distributions to non-controlling interests and preference shareholders | 33,4 | 0,4 | 19,5 | 0,3 |
| – Dividends to ordinary shareholders | 1 384,2 | 18,0 | 1 683,6 | 22,2 |
| Government | ||||
| Tax Should say (refer Note 1 below) | 1 232,1 | 16,0 | 972,2 | 12,8 |
| Retained in the group | 667,8 | 8,7 | 875,6 | 11,5 |
| 7 694,3 | 100,0 | 7 597,1 | 100,0 | |
| (R’million) | 2022 | 2021 |
| Note 1 | ||
| Income taxation (excluding deferred tax) | 968,4 | 765,2 |
| Skills Development Levy | 31,3 | 30,0 |
| Rates and taxes paid to local authorities | 65,4 | 40,2 |
| Customs duties, import surcharges and excise taxes | 167,0 | 136,8 |
| Gross contribution to government | 1 232,1 | 972,2 |
The payments to government exclude taxation deducted from employees' remuneration of R662,2 million (2021: R754,2 million), net VAT receivable of R233,3 million (2021 receivable: R152,2 million), excise duty on revenue and UIF payments.
| (R’million) | 2022 | % | 2021 | % | 2020 | % | 2019 | % | 2018 | % |
| Trend of value added | ||||||||||
| Employees | 4 287,7 | 56 | 3 989,2 | 52 | 4 117,6 | 51 | 4 043,0 | 48 | 3 857,5 | 45 |
| Providers of capital | 1 506,7 | 19 | 1 760,1 | 23 | 900,6 | 11 | 5 681,7 | 67 | 1 932,7 | 23 |
| Government | 1 232,1 | 16 | 972,2 | 13 | 1 073,7 | 13 | 1 157,7 | 14 | 1 033,9 | 12 |
| Retained in the group | 667,8 | 9 | 875,6 | 12 | 1 980,7 | 25 | (2 426,1) | (29) | 1 821,2 | 20 |
| 7 694,3 | 100 | 7 597,1 | 100 | 8 072,6 | 100 | 8 456,3 | 100 | 8 645,3 | 100 |