20
22

Tiger Brands Limited

Annual Financial Statements

Value added statement

Value added statement

Download pdf

Value 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