SENWES ANNUAL FINANCIAL STATEMENTS 2022
6.3.2 Staalmeester Agricultural Equipment ( Pty ) Ltd
Senwes holds 100 % in Senwes Equip Holdings ( Pty ) Ltd (" Senwes Equip Holdings "). Senwes Equip Holdings has a 75 % interest in Staalmeester Agricultural Equipment ( Pty ) Ltd (“ Staalmeester ”). Staalmeester ’ s core business is the manufacturing , importing and retailing of agri-implements . The financial year-end is the same as Senwes ' financial year-end . The registered office of the company is the same as Senwes ' registered office .
The following is the summarised financial information :
Financial position Non-current assets 26 32 Current assets 37 37 Trade payables 1 ( 7 ) Current financial liabilities , excluding trade payables ( 2 ) ( 3 ) Equity attributable to subsidiary 62 59 Attributable to : Equity holders of the parent 46 44 Non-controlling interest 16 15 Non-controlling interest relating to group equity adjustments ( 3 ) ( 3 )
Financial results Revenue 64 71 Cost of sales
2022 R ' m
2021 R ' m
( 40 ) ( 41 ) Other income 2 1 Depreciation Expenses Finance costs
( 1 ) ( 1 ) ( 19 ) ( 16 )
- ( 1 ) Profit before tax 6 13 Tax
( 2 ) ( 4 ) Profit after tax 4 9 Non-controlling interest share in profit or loss 1 2
Summarised cash flows are as follows : ( Used in )/ generated from operating activities ( 1 ) 10 Used in investing activities
- - Generated from /( used in ) financing activities 1 ( 10 ) Net increase in cash flows - -
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