Summarised operating segment report
for the six months ended 30 September 2021

   Southern Africa  Spain  Total 
group 
Rm
 
   Retail 
Rm
 
Other 
Rm
 
Total 
Rm
 
Retail 
Rm
 
Other 
Rm
 
Total 
Rm
 
Group income for the period ended 30 September 2021                      
Revenue(i)  780  35  815  440  49  489  1 304 
Property expenses(i)  (133) (5) (138) (25) (6) (31) (169)
Net distributable income from property operations  647  30  677  415  43  458  1 135 
Corporate and administrative expenses  (81) (4) (85) (88) 21  (67) (152)
Investment and other income  154  161  –  –  –  161 
Finance income  12  14  –  –  –  14 
Net interest CCIRS  64  67  –  –  –  67 
Loss on realisation of derivative financial instrument  –  (44) (44) –  –  –  (44)
Distributable income before finance costs  786  790  327  64  391  1 181 
Finance costs  (34) (210) (244) (107) (6) (113) (357)
Distributable income before equity-accounted income  752  (206) 546  220  58  278  824 
Share of income from associate  –  (3) (3) –  –  –  (3)
Share of income from joint venture  –  (1) (1) –  –  –  (1)
Distributable income before taxation  752  (210) 542  220  58  278  820 
Taxation  (24) 14  (10) –  –  –  (10)
Distribution income  728  (196) 532  220  58  278  810 
Net distributable income attributable to NCI  –  (2) (2) –  (48) (48) (50)
Attributable to Vukile Group  728  (198) 530  220  10  230  760 
Non-IFRS adjustments  –  –  –  – 
Early termination of derivative  –  (76) (76) –  –  –  (76)
Accrued dividends  –  76  76  –  –  –  76 
Non-cash impact of IFRS 16 – Leases  –  –  –  – 
Available for distribution  728  (195) 533  220  10  230  763 
(i) The revenue and property expense have been reflected net of recoveries. The summarised consolidated statements of profit or loss and OCI reflect the gross property revenue and gross property expenses.
Southern Africa Spain Total
group
Rm
Retail
Rm
Other
Rm
Total
Rm
Retail
Rm
Other
Rm
Total
Rm
Group statement of financial position at 30 September 2021              
ASSETS              
Non-current assets 13 762 2 356 16 118 16 100 1 014 17 114 33 232
  Investment property 13 441 721 14 162 16 012 998 17 010 31 172
  Straight-line rental income accrual 321 29 350 350
  Financial assets at fair value through profit or loss 525 525 525
  Investment in associate at fair value 568 568 568
  Investment in associate (equity accounted) 13 13 13
  Investment in joint venture (equity accounted) 54 54 54
  Derivative financial instruments 132 132 132
  Long-term loans granted 246 246 246
  Other non-current assets 68 68 88 16 104 172
Current assets 1 323 455 1 778 564 483 1 047 2 825
  Trade and other receivables 227 131 358 95 11 106 464
  Current taxation 3 3 3
  Short-term investments 22 22 22
  Cash and cash equivalents 55 274 329 447 472 919 1 248
  Non-current assets held for sale 1 041 47 1 088 1 088
Total assets             36 057
EQUITY AND LIABILITIES              
Equity attributable to the owners of the parent             17 265
Non-controlling interest             1 629
Non-current liabilities 180 5 190 5 370 176 7 684 7 860 13 230
  Interest-bearing borrowings 4 591 4 591 7 654 7 654 12 245
  Lease liability 180 180 180
  Derivative financial instruments 575 575 22 22 597
  Deferred taxation liabilities 24 24 8 8 32
  Other non-current liabilities 176 176 176
Current liabilities 322 2 609 2 931 995 7 1 002 3 933
  Trade and other payables 305 55 360 274 7 281 641
  Short-term portion of interest-bearing borrowings 2 475 2 475 718 718 3 193
  Short-term portion of lease liability 17 17 17
  Derivative financial instruments 77 77 3 3 80
  Shareholder for dividends 2 2 2
Total equities and liabilities             36 057
   Southern Africa  Spain  Total 
group 
Rm 
   Retail 
Rm 
Other 
Rm 
Total 
Rm 
Retail 
Rm 
Other 
Rm 
Total 
Rm 
Group income for the period ended 30 September 2020              
Revenue(i)  652  38  690  263  44  307  997 
Property expenses(i)  (148) (8) (156) (60) (7) (67) (223)
Net distributable income from property operations  504  30  534  203  37  240  774 
Corporate and administrative expenses  (79) (5) (84) (32) (38) (70) (154)
Investment and other income  14  15  –  –  –  15 
Finance income  20  24  –  –  –  24 
Net interest from cross-currency interest rate swaps  92  –  92  –  –  –  92 
Distributable income before finance costs  535  46  581  171  (1) 170  751 
Finance costs  (26) (217) (243) (119) (6) (125) (368)
Distributable income before equity-accounted income  509  (171) 338  52  (7) 45  383 
Share of income from associate (Atlantic Leaf) –  20  20  –  –  –  20 
Distributable Income before taxation  509  (151) 358  52  (7) 45  403 
Taxation  (5) –  (5) –  –  –  (5)
Distribution income  504  (151) 353  52  (7) 45  398 
Net distributable income attributable to non-controlling interests     (2) (2) –  (8) (8) (10)
Attributable to Vukile Group  504  (153) 351  52  (15) 37  388 
Non-IFRS adjustments  –  58  58  –  –  –  58 
   Antecedent dividend  –  –  –  –  –  –  – 
   Accrued dividends  –  55  55  –  –  –  55 
   Non-cash impact of IFRS 16 – Leases  –  –  –  – 
Available for distribution  504  (95) 409  52  (15) 37  446 
(i) The revenue and property expense have been reflected net of recoveries. The summarised consolidated statements of profit or loss and OCI reflect the gross property revenue and gross property expenses.
   Southern Africa  Spain  Total 
group 
Rm 
   Retail 
Rm 
Other 
Rm 
Total 
Rm 
Retail 
Rm 
Other 
Rm 
Total 
Rm 
Group statement of financial position at 30 September 2020              
ASSETS              
Non-current assets 14 913 1 962 16 875 17 851 1 655 19 506 36 381
  Investment property 14 555 946 15 501 17 850 1 653 19 503 35 004
  Straight-line rental income accrual 358 32 390 390
  Financial assets at fair value through profit or loss 171 171 171
  Investment in associate at fair value 425 425 425
  Investment in associate (equity accounted) 14 14 14
  Derivative financial instruments 27 27 27
  Financial assets at amortised cost 259 259 259
  Deferred taxation 13 13 13
  Other non-current assets 75 75 1 2 3 78
Current assets 267 404 671 740 339 1 079 1 750
  Trade and other receivables 247 34 281 110 4 114 395
  Derivative financial instruments 1 1 1
  Cash and cash equivalents 20 369 389 630 335 965 1 354
Total assets             38 131
EQUITY AND LIABILITIES              
Equity attributable to the owners of the parent 1 897 13 050 14 947 1 163 375 1 538 16 485
Non-controlling interest 43 43 1 771 1 771 1 814
Non-current liabilities 199 7 113 7 312 8 588 8 588 15 900
  Interest-bearing borrowings 6 629 6 629 8 531 8 531 15 160
  Lease liability 199 199 199
  Derivative financial instruments 481 481 48 48 529
  Deferred tax 3 3 9 9 12
Current liabilities 327 2 083 2 410 1 510 12 1 522 3 932
  Trade and other payables 309 53 362 564 12 576 938
  Short-term portion of interest-bearing borrowings 685 685 946 946 1 631
  Short-term portion of lease liability 18 18 18
  Derivative financial instruments 879 879 879
  Current taxation liabilities 4 4 4
  Shareholders for dividends 462 462 462
Total equity and liabilities             38 131