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214 Telkom Annual Report 2009 Notes to the consolidated annual financial statements (continued) for the three years ended March 31, 2009 2007 2008 2009 Rm Rm Rm 31. TRADE AND OTHER PAYABLES 7,237 8,771 5,538 Trade payables 5,511 6,768 2,955 Finance cost accrued 22 39 156 Accruals and other payables 1,704 1,964 2,427 Accruals and other payables mainly represent amounts payable for goods received, net of Value Added Taxation obligations. 32. RECONCILIATION OF PROFIT FOR THE YEAR TO CASH GENERATED FROM OPERATIONS * Cash generated from operations 20,520 21,256 20,394 Profit for the year 8,849 8,172 4,247 Finance charges and fair value movements 1,125 1,803 3,765 Taxation 4,731 4,704 3,681 Investment income (235) (197) (216) Interest received from debtors (190) (257) (273) Non-cash items 6,582 6,930 10,292 Depreciation, amortisation, impairment and write-offs 5,315 6,130 8,155 Cost of equipment disposed when recognising finance leases 240 88 71 Increase in provisions 1,107 857 1,387 Profit on disposal of property, plant and equipment and intangible assets (29) (147) (29) Vodacom broad-based black economic empowerment charge – – 691 Profit on disposal of investment and subsidiaries (52) – – Loss on disposal of property, plant and equipment and intangible assets 1 2 17 (Increase)/decrease in working capital (342) 101 (1,102) Inventories (393) (354) (1,130) Accounts receivable (758) (784) (812) Accounts payable 809 1,239 840 33. FINANCE CHARGES PAID * (1,115) (1,077) (2,164) Finance charges per income statement (1,125) (1,803) (3,765) Non-cash items 10 726 1,601 Movements in interest accruals (119) 101 105 Net discount amortised 409 568 698 Capitalised finance leases – – 178 Capitalised foreign exchange – – 38 Fair value adjustment (338) (243) 183 Unrealised gain 58 300 399 * Cash flows includes the cash flows related to assets held for sale and disposal groups.
Telkom Annual Report 2009 215 Notes to the consolidated annual financial statements (continued) for the three years ended March 31, 2009 34. TAXATION PAID * 2007 2008 2009 Rm Rm Rm (5,690) (4,277) (3,947) Taxation payable at beginning of year (1,549) (74) (314) Current taxation (excluding deferred taxation) (3,545) (3,807) (3,412) Foreign currency translation reserve – (32) 2 Business combinations – – 2 Secondary taxation on companies (670) (678) (425) Taxation payable at end of year 74 314 200 Reconciliation of net taxation liability at end of year** (74) (314) (200) Income taxation receivable 520 9 125 Continuing operations 520 9 91 Disposal groups – – 34 Income taxation payable (594) (323) (325) Continuing operations (594) (323) (50) Disposal groups – – (275) * Cash flows includes the cash flows related to assets held for sale and disposal groups. ** The split income taxation receivable and income taxation payable was split in 2009 to disclose the effect of the discontinued operations. 35. DIVIDEND PAID (4,784) (5,732) (3,336) Dividend payable at beginning of year (4) (15) (20) Declared during the year – Dividend on ordinary shares: (4,678) (5,627) (3,306) Final dividend for 2006: 500 cents (2,599) – – Special dividend for 2006: 400 cents (2,079) – – Final dividend for 2007: 600 cents – (3,069) – Special dividend for 2007: 500 cents – (2,558) – Final dividend for 2008: 660 cents – – (3,306) Dividends paid to minority interest (117) (110) (33) Dividend payable at end of year 15 20 23
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We are... one of Africa’s largest
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Telkom shareholding as at March 31,
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Grow profitable revenue through wir
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600 500 400 300 200 100 0 07 08 09
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The telecommunications industry Con
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egulation that stipulated standard
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a - Euros a - Euros a - Euros 0.25
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ated management team with experienc
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The regulatory environment The regu
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On target for 2010 Telkom Annual Re
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Online impairments, the fixed-line
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• Remodelling - reaching for new
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in this annual report has been upda
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Capital expenditure for the Group i
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More than100 years of combined tele
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Management team Telkom Annual Repor
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Telkom Annual Report 2009 33 Age at
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uild a partnership with communities
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Customers: Through our Customer Cen
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• Interfacing with the media Whil
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Partnering with Human Resources Gro
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The members’ resignations and app
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Share dealings In line with JSE Lis
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NYSE rules Telkom practice Telkom A
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the codes of conduct and ethics tha
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Telkom Annual Report 2009 51 Enterp
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provider, we practice a risk manage
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egulate the business of dealers in
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addressing a number of significant
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There was a major Over the past dec
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payment policy that facilitates the
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Headcount movement Compensation and
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• Accelerated development of wome
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14,500 union members participated i
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were admitted to the university in
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ole in exposing students to the rea
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Sick leave indices • We saved R2
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These will be augmented by another
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Some of the key deliverables are:
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Fittingly, the initiative was launc
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Sponsorships Sponsorships continue
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Item Comment and reference Governan
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espond to competitive challenges Pe
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Operational review History and deve
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service. All costs including instal
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Traffic was adversely affected in b
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Telkom’s focus on bringing new in
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esponse of the CDMA operators to ou
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MWEB Africa On April 21, 2009, we a
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VPN model that allows other service
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services and also to support Telkom
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Telkom’s fixed-line voice busines
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Results of operations The Telkom Gr
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EBITDA can be reconciled to operati
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Telkom Annual Report 2009 109 Finan
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Fixed-line operating revenue increa
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The following table sets forth info
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Interconnection revenue Year ended
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Telkom Annual Report 2009 117 Fixed
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Fixed-line payments to other networ
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Service fees increased in the year
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Vodacom’s operating revenue from
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our fixed-line business, which were
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Vodacom’s selling, general and ad
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The increase in other operating rev
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commercial paper bills, as well as
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The following table sets forth our
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challeng Consolidated financial sta
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138 Telkom Annual Report 2009
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140 Telkom Annual Report 2009 Direc
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142 Telkom Annual Report 2009 Conso
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144 Telkom Annual Report 2009 Conso
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146 Telkom Annual Report 2009 Notes
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344 Telkom Annual Report 2009 Notic
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346 VOTING AND PROXIES Ordinary sha
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Notes Telkom Annual Report 2009 1.
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