| |
Financial information of subsidiaries that have material non-controlling interests in the current or prior year is provided below:
Proportion of equity interest held by non-controlling interests in ordinary shares
| Name |
Country of incorporation |
2025
% |
| 2024
% |
| Ceramic Industries Group |
South Africa |
0,5 |
| 0,9 |
| Italtile Retail (Pty) Ltd |
South Africa |
45,0 |
| 45,0 |
| International Tap Distributors (Pty) Ltd |
South Africa |
10,0 |
| 12,0 |
| Ezee Tile Adhesive Manufacturers (Pty) Ltd |
South Africa |
0,5 |
| 0,9 |
| TopT Ceramics (Pty) Ltd |
South Africa |
5,0 |
| 5,0 |
|
| 2025
Rm |
| 2024
Rm |
| Profit allocated to material non-controlling interest: |
|
|
|
| Ceramic Industries Group |
2 |
| 4 |
| Italtile Retail (Pty) Ltd |
40 |
| 36 |
| International Tap Distributors (Pty) Ltd## / ### |
1 |
| – |
| Ezee Tile Adhesive Manufacturers (Pty) Ltd |
# |
| # |
| TopT Ceramics (Pty) Ltd## |
– |
| – |
| # |
Less than R1 million. |
| ## |
The control of shares held by the minority partners are restricted by the loans provided for the purchase. The structure of the deal constitutes a share incentive transaction in terms of IFRS 2. |
| ### |
During FY2025, the minority partner of ITD had settled the loan provided for the purchase. |
The summarised financial information of these subsidiaries is provided below. This information is based on amounts before intercompany eliminations.
Summarised statement of profit or loss for the year ended 30 June 2025
|
|
| Ceramic
Industries
Rm |
Italtile
Retail
Rm |
International
Tap
Distributors
Rm |
Ezee Tile
Rm |
TopT
Rm |
| Revenue from contracts with customers |
| 3 644 |
775 |
461 |
1 036 |
1 110 |
| Cost of sales |
| (2 820) |
(428) |
(365) |
(804) |
(702) |
| Administrative expenses |
| (347) |
(226) |
(29) |
(119) |
(234) |
| Finance costs |
| – |
– |
– |
– |
– |
| Profit before tax |
| 477 |
121 |
67 |
113 |
174 |
| Income tax expense |
| (106) |
(32) |
(17) |
(48) |
(46) |
| Profit for the year |
| 371 |
89 |
50 |
65 |
128 |
| Attributable to non-controlling interests |
| 2 |
40 |
– |
# |
– |
| Dividends paid to non-controlling interests |
| 1 |
43 |
8 |
# |
10 |
Summarised statement of profit or loss for the year ended 30 June 2024
|
|
| Ceramic
Industries
Rm |
Italtile
Retail
Rm |
International
Tap
Distributors
Rm |
Ezee Tile
Rm |
TopT
Rm |
| Revenue from contracts with customers |
| 3 958 |
749 |
460 |
1 016 |
978 |
| Cost of sales |
| (2 953) |
(414) |
(366) |
(828) |
(612) |
| Administrative expenses |
| (449) |
(219) |
(26) |
(118) |
(206) |
| Finance costs |
| – |
– |
– |
– |
– |
| Profit before tax |
| 556 |
116 |
68 |
70 |
160 |
| Income tax expense |
| (138) |
(36) |
(17) |
(19) |
(41) |
| Profit for the year |
| 418 |
80 |
51 |
51 |
119 |
| Attributable to non-controlling interests |
| 4 |
36 |
– |
# |
– |
| Dividends paid to non-controlling interests |
| 1 |
33 |
5 |
# |
5 |
Summarised statement of financial position as at 30 June 2025
|
|
| Ceramic
Industries
Rm |
Italtile
Retail
Rm |
International
Tap
Distributors
Rm |
Ezee Tile
Rm |
TopT
Rm |
| Non-current assets |
| 2 608 |
29 |
12 |
349 |
23 |
| Current assets |
| 1 535 |
221 |
173 |
265 |
220 |
| Non-current liabilities |
| (204) |
– |
(1) |
(13) |
– |
| Current liabilities |
|
(382) |
(59) |
(18) |
(96) |
(84) |
| Total equity |
| 3 557 |
191 |
166 |
505 |
159 |
Summarised statement of financial position as at 30 June 2024
|
|
| Ceramic
Industries
Rm |
Italtile
Retail
Rm |
International
Tap
Distributors
Rm |
Ezee Tile
Rm |
TopT
Rm |
| Non-current assets |
| 2 715 |
32 |
13 |
370 |
25 |
| Current assets |
| 1 288 |
224 |
208 |
185 |
290 |
| Non-current liabilities |
| (190) |
– |
(1) |
– |
– |
| Current liabilities |
| (453) |
(58) |
(20) |
(94) |
(80) |
| Total equity |
| 3 360 |
198 |
200 |
461 |
235 |
Summarised cash flow information for the year ended 30 June 2025
|
| |
Ceramic
Industries
Rm |
Italtile
Retail
Rm |
International
Tap
Distributors
Rm |
Ezee Tile
Rm |
TopT
Rm |
| Cash flow from operating activities |
| 415 |
7 |
(34) |
148 |
(55) |
| Cash flow from investing activities |
| (109) |
(4) |
(4) |
(38) |
(8) |
| Cash flow from financing activities |
| (13) |
– |
– |
(22) |
– |
| Net increase/(decrease) in cash and cash equivalents |
| 293 |
3 |
(38) |
88 |
(63) |
Summarised cash flow information for the year ended 30 June 2024
|
|
| Ceramic
Industries
Rm |
Italtile
Retail
Rm |
International
Tap
Distributors
Rm |
Ezee Tile
Rm |
TopT
Rm |
| Cash flow from operating activities |
| 545 |
24 |
# |
47 |
75 |
| Cash flow from investing activities |
| (424) |
(8) |
(4) |
(53) |
(7) |
| Cash flow from financing activities |
| (8) |
– |
– |
(11) |
– |
| Net increase/(decrease) in cash and cash equivalents |
| 113 |
16 |
(4) |
(17) |
68 |
|
