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:
2020 2019
R’m
R'm
Financial position
Non-current assets 34 34
Current assets excl. bank and cash 33 31
Cash and cash equivalents - -
Trade payables
(4) (5)
Current financial liabilities, excluding trade payables (10) (2)
Non-current liabilities (3) (18)
Equity 50 40
Attributable to:
Equity holders of the parent 37 30
Non-controlling interest 13 10
Financial results
Revenue 69 39
Cost of sales
(41) (22)
Other income 2 -
Depreciation and amortisation (1) (1)
Expenses
Finance costs
(13) (8)
(2) (1)
Profit before tax 14 7
Tax
(4) (2)
Profit after tax 10 5
Non-controlling interest share in profit or loss 3 1
Dividends paid to non-controlling shareholders - -
Summarised cash flows are as follows:
Generated from/(used in) operating activities 7 (20)
Used in investing activities - (35)
(Used in)/generated from financing activities (7) 55
Net increase in cash flows - -
Senwesbel Limited Reg no: 1996/017629/06 SENWESBEL ANNUAL FINANCIAL STATEMENTS 2020 28