ECIC IR 2023

ANNUAL Financial Statements for the year ended 31 March 2023

E

D

H

S

I

L I

N

B

2

0

A

0

T

S

1

E

E X P O R T C R E

L T D

O C

A S

C

R I

D I

F

T

A

I

N

H

S

T

U

U

R

O

A

S

N

F

C

O

E

N

C

O

O

I

R

T

P

A

O

R

Statement of Cash Flows

2023 R’000

2022 R’000

Note(s)

Cash flows from operating activities Cash (used in)/generated from underwriting activities

28

(677 516) 435 438 150 000

411 358 142 233 208 078 58 387 (130 487)

Interest received IMU grant receipts Dividends received IMU claims paid

59 053

(179 656)

Interest paid Taxation paid

(792)

(67)

29

(99 265) (312 738)

(19 493) 670 009

Net cash (outflows)/inflows from operating activities

Cash flows from investing activities Acquisition of equipment

7 7

(1 730)

(1 072)

Sale of equipment

-

18

Net acquisition of financial assets

(1 801 250) (1 802 980)

(44 302) (45 356)

Net cash outflows from investing activities

Cash flows from financing activities Lease liability repayments

(1 771)

(3 256)

(Decrease)/increase in cash and cash equivalents Cash and cash equivalents at the beginning of the year Effect of translation on cash and cash equivalents

(2 117 489) 4 487 620

621 397

4 084 701 (223 093)

27 730 (42 400)

Unrealised foreign exchange (loss)/gain on cash and cash equivalents

4 615

Total cash and cash equivalents at end of the year

2 355 461

4 487 620

12

YOUR EXPORT RISK PARTNER

19