Financial reports – AYOIR2020

Consolidated statement of financial position

AS AT 31 AUGUST 2020

	31 August 2020 R'000	31 August 2019 R'000
Assets
Non-current assets	805 533	653 462
Property, plant and equipment	91 110	102 776
Right of use of assets	35 292	-
Goodwill	131 152	131 152
Intangible assets	82 783	79 828
Investments in equity- accounted joint ventures	18 963	33
Loans to related party companies	120 165	108 562
Other loans receivable	192 411	156 764
Investments at fair value through profit or loss	62 921	24 619
Other financial assets	1 000	12 355
Finance lease receivables	25 189	350
Operating lease receivable	-	110
Deferred tax assets	44 547	36 913
Current assets	4 183 370	4 476 137
Inventories	142 364	178 991
Loans to related party companies	65 898	-
Other loans receivable	12 670	17 199
Trade and other receivables	692 926	584 491
Other financial assets	23 228	12 242
Finance lease receivables	18 052	669
Current tax receivable	3 061	2 329
Cash and cash equivalents	3 225 171	3 680 216
Total assets	4 988 903	5 129 599
Equity and liabilities Equity
Stated capital	4 444 410	4 444 410
Reserves	(39 847)	(30 470)
Retained income	(227 111)	(77 458)
Equity attributable to shareholders of AYO	4 177 452	4 336 482
Non-controlling interests	118 640	134 392
Total equity	4 296 092	4 470 874
Liabilities
Non-current liabilities	30 903	63 042
Other financial liabilities	-	797
Derivative financial liability	7 587	3 934
Lease liabilities	16 190	2 853
Employee benefit obligation	6 375	6 665
Deferred income	751	11 244
Contingent considerations liabilities	-	37 549
Current liabilities	661 908	595 683
Trade and other payables	523 665	443 836
Loans to related party companies	-	20 863
Other financial liabilities	887	38 500
Lease liabilities	24 395	12 683
Deferred income	47 889	18 589
Current tax payable	11 628	24 124
Provisions	35 541	26 094
Dividend payable	9 382	5 093
Contingent considerations liabilities	5 097	4 795
Bank overdraft	3 424	1 106
Total liabilities	692 811	658 725
Total equity and liabilities	4 988 903	5 129 599

Consolidated statement of profit or loss
and other comprehensive income

FOR THE YEAR ENDED 31 AUGUST 2020

	2020 R'000	2019 R'000
Revenue	2 885 214	1 959 292
Cost of sales	(2 259 858)	(1 400 019)
Gross profit	625 356	559 273
Other operating income	68 569	10 046
Other operating gains/(losses)	(82 562)	(44 434)
Other operating expenses	(692 846)	(549 407)
Movement in credit loss allowance	(59 827)	(12 823)
Finance income	241 794	322 856
Finance costs	(17 429)	(10 918)
Profit from equity-accounted investments	20 571	(1 608)
Profit before taxation	103 626	272 985
Taxation	(70 846)	(91 186)
Profit after taxation	32 780	181 799
Other comprehensive income:
Items that will not be subsequently reclassified to profit or loss:
Gains on property revaluation	-	221
Items that will be subsequently reclassified to profit or loss:
Exchange differences on translating foreign operations	(834)	(250)
Income tax relating to items that will not be reclassified	-	32
Total items that will not be subsequently reclassified to profit or loss	(834)	3
Total comprehensive income for the year	31 946	181 802
Profit after taxation attributable to:
Shareholders of AYO	21 343	150 599
Non-controlling interests	11 437	31 200
Total profit after taxation	32 780	181 799

Total comprehensive income attributable to:
Shareholders of AYO	20 509	150 602
Non-controlling interests	11 437	31 200
Total comprehensive income	31 946	181 802

Earnings per share (cents)
Basic earnings per share (cents)	6.20	43.76

Consolidated statement of changes in equity

FOR THE YEAR ENDED 31 AUGUST 2020

Consolidated statement of cash flows

FOR THE YEAR ENDED 31 AUGUST 2020

	2020 R'000	2019 R'000
Cash flows from operating activities
Cash receipts from customers	2 494 984	1 950 208
Cash paid to suppliers and employees	(2 467 054)	(2 000 528)
Cash utilised in operations	27 930	(50 320)
Investment income	201 654	285 644
Finance costs	(16 354)	(6 466)
Dividend income	-	3 021
Tax paid	(91 986)	(117 794)
Net cash from operating activities	121 244	114 085
Cash flows from investing activities
Acquisition of property, plant and equipment	(23 281)	(31 775)
Proceeds from the disposal of property, plant and equipment	4 971	14 425
Acquisition of intangible assets	(11 484)	(19 937)
Proceeds from disposal of intangible assets	59	93
Proceeds from disposal of subsidiary	-	1 203
Purchase of additional shares from minority interests	(12 000)
Acquisition of subsidiaries net of cash acquired	(187)	(112 306)
Loans advanced to related party companies	(58 350)	(103 547)
Other loans advanced	(70 747)	(169 670)
Purchases of investments at afir value through profit or loss	(107 985)	(90 659)
Amounts advanced to acquire other financial assets	(13 030)	(809 366)
Amounts repaid from other financial assets	12 805	901 226
Funds held in Trust	-	(101 294)
Finance lease receipts	6 447	7 135
Net cash to investing activities	(272 782)	(514 472)
Cash flows from financing activities
Loan from shareholder repaid	-	(5 000)
Dividends paid	(168 693)	(221 108)
Dividends paid to minorities	(2 722)	(2 520)
Payments of contingent consideration arrangements	(38 625)	(4 460)
Repayments of other financial liabilities	((21 252)	-
Lease liabilities repayments	(35 430)	-
Payment of long service awards	(277)	-
Net cash to financing activities	(305 824)	(224 145)
Total cash movement for the period	(457 362)	(624 532)
Cash at the beginning of the period	3 679 110	4 303 642
Total cash at the end of the period	3 221 748	3 679 110

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