Consolidated statement of cash flows

Cash flows from operating activities

Profit before tax

661

Adjustments for:

Depreciation and amortisation

831

Finance income

(20)

Net monetary gain relating to hyperinflationary accounting

(26)

Finance costs

– Derivative and net foreign exchange (gains)/losses

Nigerian naira

118

Other currencies

61

– Other finance costs

663

Share of profit of associate and joint venture accounted for using equity method

(0)

27

Operating cash flow before changes in working capital

2,302

Changes in working capital

Decrease/(Increase) in trade receivables

(30)

(Increase)/Decrease in inventories

1

Increase in trade payables

69

Increase in mobile money wallet balance

218

(Decrease)/Increase in provisions and employee benefit obligations

38

Increase in deferred revenue

15

Increase in other financial and non-financial liabilities

27

(115)

Net cash generated from operations before tax

2,589

(395)

3,195

Cash flows from investing activities

Purchase of property, plant and equipment and capital work-in-progress

(736)

Purchase of intangible assets and intangible assets under development

(123)

Maturity of deposits with bank

392

Investment in deposits with bank

(123)

(Purchase)/sale of other short-term investment

2

23

(986)

Cash flows from financing activities

Purchase of shares under buy-back programme

(120)

Purchase of own shares by ESOP trust (net)

(0)

Proceeds from sale of shares to NCI

10

Proceeds from borrowings

1,383

Repayment of borrowings

(1,400)

Repayment of lease liabilities

(222)

Dividend paid to non-controlling interests

(72)

Dividend paid to owners of the company

(229)

Payment of deferred spectrum liability

(29)

Interest on borrowings, lease liabilities and other liabilities

(670)

(61)

(1,591)

Increase in cash and cash equivalents during the year (a+b+c)

161

Currency translation differences relating to cash and cash equivalents

(1)

Cash and cash equivalents as at beginning of the year

900

1,785