UNAUDITED GROUP RESULTS AND CASH DIVIDEND DECLARATION for the six months ended 31 March 2015

Incorporated in the Republic of South Africa
Reg. No 1913/004355/06
Ordinary share Code: RLO
ISIN code: ZAE000057428
(“Reunert”, “the group” or “the company”)

SUMMARISED

GROUP CASH FLOW STATEMENT

  Six months ended
31 March
Year ended  
30 September  
2014  
(Audited) 
 
R million   2015  
(Unaudited) 
2014  
(Unaudited) 
 
EBITDA   606,7   620,2   1 315,0    
EBITDA from continuing operations   559,2   529,1   1 125,1    
EBITDA from discontinued operation   47,5   91,1   189,9    
Decrease/(increase) in net working capital   165,7   (75,3)  (43,8)   
Other (net)  15,1   (1,5)  (93,2)   
Cash generated from operations   787,5   543,4   1 178,0    
Net interest and dividend income   57,5   (6,0)  (5,7)   
Taxation paid   (192,1)  (196,4)  (332,4)   
Dividends paid (including to non-controlling interests)  (455,0)  (452,0)  (612,3)   
Net cash flows from operating activities   197,9   (111,0)  227,6    
Net cash flows from investing activities   1 862,4   (422,0)  (472,8)   
Capital expenditure   (47,3)  (65,0)  (122,1)   
Net cash flows arising from disposal of businesses   1 971,2   –   –    
Net cash flows arising from acquisition of businesses   –   (222,9)  (218,9)   
Movement in total rental and finance lease receivables   (60,3)  (171,8)  (191,9)   
Non-current loans granted   –   (1,2)  (5,9)   
Dividends received   –   38,4   38,4    
Other   (1,2)  0,5   27,6    
Net cash flows from financing activities   (29,2)  10,2   417,9    
Shares issued   5,8   10,6   26,7    
Long-term borrowings (repaid)/raised   (19,7)  (0,4)  403,7    
Cash flows arising from dealings with minority shareholders   (15,3)  –   (15,7)   
Other   –   –   3,2    
Increase/(decrease) in net cash resources   2 031,1   (522,8)  172,7    
Net cash resources at the beginning of the period   414,5   241,8   241,8    
Net cash resources/(borrowings) at the end of the period   2 445,6   (281,0)  414,5    
Cash and cash equivalents   2 521,1   463,1   697,0    
Cash and cash equivalents of discontinued operation   –   71,7   51,7    
Bank overdrafts   –   (815,8)  (33,7)   
Quince short-term borrowings   (75,5)  –   (300,5)   
Net cash resources/(borrowings) at the end of the period   2 445,6   (281,0)  414,5    


The cash flow statement includes the cashflows of all operations, including the discontinued operation, which has been recorded in terms of IFRS 5 – Non Current Assets Held for Sale.