Value added statement

	2022  R'000	2022  %		2021* R'000	2021* %	2020* R'000	2020* %	2019* R'000	2019* %
VALUE ADDED
Value added by operating activities	2 433 050	96.8		2 036 799	97.2	2 029 637	95.5	2 284 291	95.9
Revenue	17 806 262			18 864 344		23 312 162		25 869 433
Net operating expenses	(15 373 212)			(16 827 545)		(21 282 525)		(23 585 142)
Value added by investing activities	80 993	3.2		59 719	2.8	95 761	4.5	96 809	4.1
Interest income	80 993			59 719		95 761		96 809
	2 514 043	100		2 096 518	100	2 125 398	100	2 381 100	100
VALUE DISTRIBUTED
Distributed to employees	780 255	31.0		637 387	30.4	619 167	29.1	594 183	25.0
Salaries, wages, medical and other benefits	780 255			637 387		619 167		594 183
Distributed to providers of finance	201 225	8.0		131 949	6.3	236 186	11.1	231 132	9.7
Finance costs	201 225			131 949		236 186		231 132
Distributed to the state	226 591	9.0		200 013	9.5	307 388	14.5	339 670	14.3
Income tax	226 591			200 013		307 388		339 670
Distributed to socio-economic responsibility	17 548	0.7		12 052	0.6	14 584	0.7	15 339	0.6
Socio-economic development	17 548			12 052		14 584		15 339
Value reinvested	196 427	7.8		237 101	11.3	728 968	34.3	7 822 972	328.5
Depreciation, amortisation and impairment	110 798			181 113		750 754		4 134 181
Net discounting finance cost	–			–		–		11 929
Share of (profits)/losses of associates and joint ventures	(8 042)			(2 951)		(13 640)		3 701 410
Deferred taxation	93 671			58 939		(8 146)		(24 548)
Value retained	1 091 997	43.5		878 016	41.9	219 105	10.3	(6 622 196)	(278.1)
Retained profit	1 027 079			830 607		124 481		(6 646 383)
Minority shareholders' interest	64 918			47 409		94 624		24 187
	2 514 043	100		2 096 518	100	2 125 398	100	2 381 100	100

*	The value added statement has been prepared based on the results of both the continuing and discontinued operations of the Group. Refer to note 11 of the Group annual financial statements for details of discontinued operations.