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.
| Restated# | ||||||
| 2025 | 2024 | |||||
| (R’million) | (%) | (R’million) | (%) | |||
| Revenue | 34 392 | 100 | 33 494 | 100 | ||
|---|---|---|---|---|---|---|
| Less: Net cost of products and services | 23 509 | 68 | 26 404 | 79 | ||
| Value added | 10 883 | 32 | 7 090 | 21 | ||
| Add: Income from investments, finance income and associates | 532 | 1 | 768 | 2 | ||
| Add: Profit on sale of associate | 996 | 3 | – | – | ||
| Add: Foreign exchange gain/(loss) | 107 | – | (49) | – | ||
| Wealth created | 12 518 | 36 | 7 809 | 23 | ||
| Applied to: | ||||||
| Employees | ||||||
| Salaries, wages and other benefits | 4 589 | 37 | 4 796 | 62 | ||
| Providers of capital | 5 143 | 41 | 1 910 | 24 | ||
| Interest on financing facilities | 72 | 1 | 309 | 4 | ||
| Dividends and capital distributions to non-controlling interests and preference shareholders | 2 | – | 3 | – | ||
| Share buy-back | 1 523 | 12 | – | – | ||
| Dividends to ordinary shareholders | 3 546 | 28 | 1 598 | 20 | ||
| Government taxation (refer note 1) | 2 258 | 18 | 958 | 12 | ||
| Retained in the group | 528 | 4 | 145 | 2 | ||
| 12 518 | 100 | 7 809 | 100 |
| Restated# | ||||
| (R’million) | 2024 | 2023 | ||
| Note 1 | ||||
| Income taxation (excluding deferred tax) | 1 964 | 738 | ||
| Skills Development Levy | 34 | 33 | ||
| Rates and taxes paid to local authorities | 63 | 59 | ||
| Customs duties, import surcharges and excise taxes | 197 | 128 | ||
| Gross contribution to government | 2 258 | 958 |
The payments to government exclude taxation deducted from employees’ remuneration of R716 million (2024: R723 million), net VAT payable of R38 million (2024 receivable: R212 million), excise duty on revenue and UIF payments.
| Restated# | Restated# | ||||||||||||
| (R’million) | 2025 | (%) | 2024 | (%) | 2023 | (%) | 2022 | (%) | 2021 | (%) | |||
| Trend of value added | |||||||||||||
| Employees | 4 589 | 37 | 4 796 | 62 | 4 450 | 58 | 4 288 | 56 | 3 989 | 52 | |||
| Providers of capital | 5 143 | 41 | 1 910 | 24 | 1 656 | 22 | 1 507 | 19 | 1 760 | 23 | |||
| Government | 2 258 | 18 | 958 | 12 | 1 098 | 14 | 1 232 | 16 | 972 | 13 | |||
| Retained in the group | 528 | 4 | 145 | 2 | 412 | 6 | 668 | 9 | 876 | 12 | |||
| 12 518 | 100 | 7 809 | 100 | 7 616 | 100 | 7 695 | 100 | 7 597 | 100 |
| # | Restated for IFRS 5 discontinued operations disclosed in note 13.1 and the prior period restatements disclosed in note 12 |