LENMED AIR 2019.pdf

Statement of cash flows Group Figures in R’000 Notes 2019 Restated 2018 Cash flows from operating activities Profit for the year 175 494 190 811 Finance costs 6 141 206 105 205 Income tax 53 242 54 390 Depreciation and amortisation 9 82 798 53 500 Interest income 5 (4 422) (8 680) Loss on disposal of property, plant and equipment 4 684 - Share-based payment (reversal)/accrual 18 (5 413) (1 321) Income from associates 12 1 110 (1 178) Foreign currency translation adjustments (6 025) (23 572) OPERATING CASH FLOW BEFORE WORKING CAPITAL CHANGES 438 674 369 155 Working capital changes Increase in inventory 4 551 (13 864) Increase in trade and other receivables (51 770) (88 329) Increase in trade and other payables and accruals 32 170 93 863 Cash generated by operating activities 423 625 360 825 Interest income 5 4 422 8 680 Finance costs 6 (141 206) (103 825) Income tax paid 25 (42 611) (67 590) NET CASH FROM OPERATING ACTIVITIES 244 230 198 090 Cash flows from investing activities Property, plant and equipment acquired 9 169 331 (300 311) – to maintain operating capacity (80 980) (28 947) – to expand operating capacity (127 885) (295 673) – instalment sale agreements (non-cash) 39 535 24 309 Intangible assets acquired 11 (12 538) (12 594) Proceeds on disposals of property, plant and equipment 5 - Business combination effected (3 550) (10 404) NET CASH UTILISED IN INVESTING ACTIVITIES (185 414 (323 309) Cash flows from financing activities Proceeds from equity issued 17 - 3 599 Net loans (repaid)/raised (72 064) 278 763 Loans raised 60 243 565 354 Loans repaid (132 307) (286 591) Acquisition of minority interest in subsidiary 24.1 - (316 298) Non-controlling interests share buy-back (4 167) - Dividends paid (306) - NET CASH UTILISED IN FINANCING ACTIVITIES (76 537) (33 936) Decrease in cash and cash equivalents (17 721) (159 155) Translation movement (2 082) 1 778 Cash and cash equivalents at beginning of the year (29 720) 127 657 CASH AND CASH EQUIVALENTS AT END OF THE YEAR 16 (49 523) (29 720) LENMED ANNUAL INTEGRATED REPORT 2019 93