Clientèle Cash Flow Statement

Financials in millions ZAR. Fiscal year is July - June.

Millions ZAR. Fiscal year is Jul - Jun.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '25 Jun 30, 2025	Jun '24 Jun 30, 2024	Jun '23 Jun 30, 2023	Jun '22 Jun 30, 2022	Jun '21 Jun 30, 2021
Net Income	1,055	329.94	344.05	420.35	392.26
Depreciation & Amortization	27.14	13.58	13.06	13.55	14.81
Other Amortization	13.09	13.9	22.39	19.91	21.68
Gain (Loss) on Sale of Assets	8.33	-	-0.01	-0.69	-0.16
Gain (Loss) on Sale of Investments	-1,133	-843.6	-764.67	-277.07	-504.21
Stock-Based Compensation	-	-	-	1.62	1.58
Change in Accounts Receivable	573.04	369.37	317.31	-10.42	-12.52
Reinsurance Recoverable	-87.55	-11.41	-5.99	-	-
Change in Unearned Revenue	117.63	26.58	333.35	69.16	4.3
Change in Other Net Operating Assets	744.77	376.1	-143.04	541.51	-429.3
Other Operating Activities	-338.56	179.32	74.46	-301.3	871.37
Operating Cash Flow	984.99	456	191.93	489.32	356.94
Operating Cash Flow Growth	116.01%	137.58%	-60.78%	37.09%	-52.41%
Capital Expenditures	-70.43	-26.7	-17.84	-19.81	-17.08
Sale of Property, Plant & Equipment	-	-	0.01	7.17	0.33
Purchase / Sale of Intangible Assets	-4.38	-10.03	-10.92	-20.2	-29.56
Cash Acquisitions	-351.93	-	-0.81	-	-
Investment in Securities	0.46	-19.58	-0.3	-32.42	-4.6
Other Investing Activities	-	-	-	0	-
Investing Cash Flow	-426.28	-56.31	-29.86	-65.26	-50.91
Long-Term Debt Issued	570	204.81	-	-	-
Total Debt Repaid	-	-116.49	-10.33	-16.55	-9.12
Net Debt Issued (Repaid)	570	88.32	-10.33	-16.55	-9.12
Issuance of Common Stock	1.35	0.13	-	-	-
Common Dividends Paid	-571.59	-420.62	-404.21	-368.74	-318.59
Financing Cash Flow	-0.24	-332.18	-414.53	-385.28	-327.71
Net Cash Flow	558.47	67.51	-252.46	38.78	-21.68
Free Cash Flow	914.56	429.3	174.09	469.51	339.86
Free Cash Flow Growth	113.03%	146.59%	-62.92%	38.15%	-53.64%
Free Cash Flow Margin	20.46%	15.34%	6.62%	18.31%	11.85%
Free Cash Flow Per Share	2.01	1.28	0.52	1.40	1.01
Cash Interest Paid	26.85	-	-	-	-
Cash Income Tax Paid	181.65	174.11	174.63	155.31	138.74
Levered Free Cash Flow	-5,867	4,147	-3,958	-111.81	345.33
Unlevered Free Cash Flow	-5,842	4,167	-3,942	-97.55	358
Change in Working Capital	1,347	760.23	503.93	603.19	-441.62

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.