Explanatory Notes 30 September 2024 23. RIGHT-OF-USE ASSETS AND LEASE LIABILITIES continued (b) LEASE LIABILITIES continued GROUP COMPANY Maturity analysis Sep-24 MUR m Sep-23 MUR m Sep-24 MUR m Sep-23 MUR m Minimum lease payments Current 54.1 47.5 52.0 45.9 Up to 3 months 13.5 12.1 13.0 11.7 3-6 months 13.6 12.0 13.0 11.6 6-12 months 27.0 23.4 26.0 22.6 Non current 132.5 194.2 130.6 191.3 After one year and before two years 50.1 50.1 48.9 48.1 After two years and before five years 82.1 141.6 81.4 140.6 After five years 0.3 2.5 0.3 2.6 186.6 241.7 182.6 237.2 Less Future finance charges on obligation under lease liabilities (19.0) (31.5) (18.5) (31.0) Present value of obligations under lease liabilities 167.6 210.2 164.1 206.2 Present value analysed as follows Current 45.7 36.6 43.9 35.4 Up to 3 months 11.2 9.2 10.8 8.9 3-6 months 11.4 9.2 10.9 8.9 6-12 months 23.1 18.2 22.2 17.6 Non-Current 121.9 173.6 120.2 170.8 After one year and before two years 44.2 41.3 43.2 39.6 After two years and before five years 77.4 129.8 76.7 128.8 After five years 0.3 2.5 0.3 2.4 167.6 210.2 164.1 206.2 Nature of leasing activities (in the capacity of lessee) The Group leases 20 properties in Mauritius, 2 properties in Rodrigues and 2 properties in Kenya. For 19 properties it is customary for the lease contracts to provide for payments to increase each year by inflation. For the remaining 5 properties the lease payments are predetermined as fixed payments. Administrative buildings are leased for the operations of the Group’s activities. During the year the Group terminated the leasing of 2 properties in Mauritius. Variable lease payments The percentages in the table below reflect the current proportions of lease payments that are either fixed or variable. The sensitivity reflects the impact on the carrying amount of lease liabilities and right-of-use assets if there was an uplift of 5% on the reporting date of lease payments that are variable. Sensitivity Number of Lease Contracts Fixed payments % GROUP Sep-24 MUR m Sep-23 MUR m Sep-24 Sep-23 Sep-24 Sep-23 Property leases with payments linked to inflation 7.5 9.6 18 17 69% 93% Property leases with pre-determined fixed payments 0.9 0.8 8 6 31% 7% 8.4 10.4 26 23 100% 100% 186
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