SUMMARY CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
for the year ended 31 March 2020
| Download (EXCEL) |
| Share capital1 ZAR’m |
Other reserves2 ZAR’m |
Retained earnings ZAR’m |
Non- controlling interests ZAR’m |
Total equity ZAR’m |
||||||
| Balance at 1 April 2018 | – | (7 156) | 2 506 | (1 343) | (5 993) | |||||
| Change in accounting policy | – | – | 17 | 18 | 35 | |||||
| Restated balance at 1 April 2018 | – | (7 156) | 2 523 | (1 325) | (5 958) | |||||
| Loss for the year | – | – | (1 644) | 368 | (1 276) | |||||
| Other comprehensive loss | – | (5 078) | – | (287) | (5 365) | |||||
| Total comprehensive loss for the year | – | (5 078) | (1 644) | 81 | (6 641) | |||||
| Share-based compensation movement3 | – | – | 3 246 | 60 | 3 306 | |||||
| Transactions with non-controlling shareholders | – | – | (218) | 19 | (199) | |||||
| Foreign exchange movements on equity reserves | – | (211) | – | (115) | (326) | |||||
| Contribution from parent4 | 1 | – | 26 356 | – | 26 356 | |||||
| Transaction with non-controlling interest – empowerment transaction6 | – | – | (484) | 484 | – | |||||
| Dividends declared5 | – | – | (5 280) | (1 463) | (6 743) | |||||
| Balance at 1 April 2019 – restated | 1 | (12 445) | 24 499 | (2 259) | 9 795 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Profit for the year | – | – | 507 | 1 363 | 1 870 | |||||
| Other comprehensive income | – | 1 457 | – | (377) | 1 080 | |||||
| Total comprehensive income for the year | – | 1 457 | 507 | 986 | 2 950 | |||||
| Treasury shares acquired7 | – | (1 682) | – | – | (1 682) | |||||
| PN share swap1 | 454 | (378) | – | (76) | – | |||||
| Share-based compensation movement | – | – | 322 | 47 | 369 | |||||
| Transactions with non-controlling interest8 | – | – | (12) | – | (12) | |||||
| Dividends declared9 | – | – | – | (1 615) | (1 615) | |||||
| Balance at 31 March 2020 | 454 | (13 048) | 25 316 | (2 917) | 9 805 |
| 1 | Upon unbundling from Naspers Limited on 4 March 2019, 439m ordinary shares were issued at nominal value. During FY20, 3.7m shares were issued to PN shareholders as part of a share swap offer. Refer to note 4. |
| 2 | Other reserves include treasury shares, the hedging reserve, fair value reserve and foreign currency translation reserve. |
| 3 | Includes empowerment transaction of ZAR2.6bn. |
| 4 | The group entered into various related party transactions in the ordinary course of business. In the six months ended 30 September 2018, loans owing to the Naspers group amounting to ZAR20bn were capitalised. Prior to unbundling from Naspers Limited, further loan funding provided from 30 September 2018 up to the unbundling were also capitalised amounting to R3bn. In total the contribution from Naspers Limited through the contribution of businesses (ZAR3bn) and the capitalisation of loans (ZAR23bn) as part of the unbundling amounted to ZAR26bn. |
| 5 | Relates to dividends paid by companies in the group to previous legal owners. Non-controlling interest relates primarily to dividends paid to PN. |
| 6 | FY19 retained earnings and non-controlling interests line items have been restated. This is in relation to the prior year empowerment transaction with PN. The group reallocated a portion of its prior year retained earnings to non-controlling interests. As this transaction was accounted for within equity, the restatement had no impact on the summary consolidated income statement and summary consolidated statement of cash flows. |
| 7 | As at 31 March 2020, the group holds 15.6m treasury shares which were repurchased for a total of ZAR1.7bn. In FY20 the group repurchased 15.6m treasury shares which resulted in a decrease in the number of ordinary shares issued. In total 5.5m shares were repurchased for the group’s RSU scheme and 4 231 RSUs were exercised during the year. Altogether 10.1m shares were repurchased as part of a general share buy-back. |
| 8 | In FY20, MultiChoice Africa Holdings B.V. increased its controlling interest in MultiChoice Uganda Limited by 5% for a purchase consideration of ZAR23m. |
| 9 | Relates primarily to dividends paid to PN. |
