Five-year review

		Restated^#	Restated^#
(R’million)	2025	2024	2023	2022	2021
Consolidated income statements
Revenue	34 392	33 494	37 389	34 029	30 954
Profit before taxation, income from associates, non-operational items and impairments	5 019	2 524	2 864	3 424	2 180
Income from associates	376	724	697	478	346
Non-operational items and impairments	611	244	(10)	12	(127)
Profit before taxation	6 006	3 492	3 551	3 915	2 399
Taxation	(1 912)	(724)	(817)	(1 020)	(597)
Profit for the year from continuing operations	4 094	2 768	2 734	2 895	1 802
*Attributable to:*
Owners of the parent – continuing operations	4 094	2 768	2 697	2 865	1 773
Non-controlling interests – continuing operations	–	–	37	31	29
Consolidated statements of financial position
Property, plant and equipment and right-of-use assets	6 261	6 196	6 190	5 817	5 572
Goodwill and Intangible assets	2 857	3 021	3 061	3 042	3 040
Investments	778	3 906	3 673	2 987	3 047
Current assets	15 088	13 423	13 037	12 196	11 198
Assets classified as held for sale	1 971	41	–	–	–
Total assets	26 955	26 587	25 961	24 043	22 857
Issued capital and reserves before share based payment reserve	16 439	17 705	16 823	14 856	14 915
Share based payment reserve	545	505	518	753	700
Non-controlling interests	255	217	201	142	147
Deferred taxation liability	257	324	268	206	150
Provision for post-retirement medical aid obligations – long term	245	228	216	323	564
Long term borrowings	241	303	1 211	326	399
Current liabilities	8 626	7 305	6 724	7 436	5 983
Liabilities classified as held for sale	347	–	–	–	–
Total equity and liabilities	26 955	26 587	25 961	24 043	22 857
Consolidated cash flow statements
Cash operating profit after interest, income from investments and taxation	4 622	3 580	3 248	3 248	3 072
Working capital changes	1 186	746	(1 561)	(1 587)	110
Dividends received	20	229	247	372	115
Cash available from operations	5 828	4 555	1 934	2 033	3 297
Dividends and capital distributions paid	(3 548)	(1 601)	(1 564)	(1 386)	(1 684)
Net cash flow from operating activities	2 280	2 954	370	647	1 613
Net cash flow from investing activities	2 017	(661)	(1 144)	(1 041)	(856)
Net cash flow before financing activities	4 297	2 293	(774)	(394)	757
Net cash flow from financing activities	(2 422)	(1 687)	489	(655)	(245)
Net increase in cash and cash equivalents	1 875	606	(285)	(1 049)	512

^#	Restated for IFRS 5 discontinued operations disclosed in note 13.1 and the prior period restatements disclosed in note 12