|
Discontinued operation assessment
Prior to the Swiftnet disposal date of 31 January 2025, Swiftnet was confirmed to be a separate component of Telkom Group and classified as
discontinued operation. This is as Swiftnet represented a separate major line of business.
Consequently, in the prior year, Swiftnet’s operating results (revenue and expenses) were separately disclosed as a single line item in the
consolidated statement of profit or loss and other comprehensive income for the 10-month period from 1 April 2024 to 31 January 2025.
| Statement of profit or loss and other comprehensive income |
31 January
2025
Rm |
| Operating revenues |
692 |
| Gain on disposal of Swiftnet (refer to note 3.3 and note 12.2) |
4 408 |
| Other expenses |
1 |
| Maintenance |
(1) |
| Employee expenses |
(23) |
| Service fees |
(150) |
| Lease-related expenses |
(2) |
| EBITDA |
4 925 |
| Write-offs and impairments of property, plant and equipment and intangible assets |
(5) |
| Operating profit |
4 920 |
| Investment income |
13 |
| Net finance charges and fair value movements |
(14) |
| Profit from discontinued operation before taxation |
4 919 |
| Taxation |
(199) |
| Profit from discontinued operation1 |
4 720 |
| 1 |
Presented net of intercompany transactions between Swiftnet and other Telkom Group entities. |
| Statement of cash flows |
31 January
2025
Rm |
| Cash flows generated by Swiftnet for the reporting period under review are as follows: |
|
| Cash flows from operating activities |
405 |
| Cash flows utilised for investing activities |
(398) |
| Cash flows from financing activities |
(22) |
| Net decrease in cash and cash equivalents from discontinued operation |
(15) |
| Cash and cash equivalents at 1 April |
192 |
| Net cash and cash equivalents at the end of the year of the discontinued operation |
177 |
|
