ANNUAL FINANCIAL STATEMENTS 2024

for the year ended 30 September 2024

Value-added statement

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.

  2024 2023
  (R’million) % (R’million) %
Revenue 37 662,2 100,0 37 388,5 100,0
Less: Net cost of products and services 30 314,6 80,5 30 483,5 81,5
Value added 7 347,6 19,5 6 905,0 18,5
Add: Income from investments and associates 766,3 2,0 744,5 2,0
Add: Foreign exchange losses (51,1) (0,1) (33,6) (0,1)
Wealth created 8 062,8 21,4 7 615,9 20,4
Applied to:        
Employees        
Salaries, wages and other benefits 4 796,1 59,4 4 450,3 58,5
Providers of capital 1 940,4 24,1 1 655,6 21,7
Interest on financing facilities 299,3 3,7 238,0 3,1
Dividends and capital distributions to non-controlling interests and preference shareholders 3,2 33,4 0,4
Dividends to ordinary shareholders 1 637,9 20,3 1 384,2 18,2
Government        
Taxation (refer note 1) 957,8 11,9 1 097,8 14,4
Retained in the group 368,5 4,6 412,2 5,4
  8 062,8 100,0 7 615,9 100,0
(R’million) 2024 2023
Note 1    
Income taxation (excluding deferred tax) 738,1 770,8
Skills development levy 33,0 33,8
Rates and taxes paid to local authorities 59,0 61,3
Customs duties, import surcharges and excise taxes 127,7 231,9
Gross contribution to government 957,8 1 097,8

The payments to government exclude taxation deducted from employees’ remuneration of R723,1 million (2023: R744,5 million), net VAT receivable of R212,1 million (2023 receivable: R656,7 million), excise duty on revenue and UIF payments.

                     
(R’million) 2024 % 2023 % 2022 % 2021 % 2020 %
Trend of value added                    
Employees 4 796,1 59 4 450,3 59 4 287,7 56 3 989,2 52 4 117,6 51
Providers of capital 1 940,4 24 1 655,6 22 1 506,7 19 1 760,1 23 900,6 11
Government 957,8 12 1 097,8 14 1 232,1 16 972,2 13 1 073,7 13
Retained in the group 368,5 5 412,2 5 667,8 9 875,6 12 1 980,7 25
  8 062,8 100 7 615,9 100 7 694,3 100 7 597,1 100 8 072,6 100