| 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003* | |||||
| Performance per ordinary share^ | |||||||||||
| Weighted average number of ordinary shares in issue during the year net of buy-back | (000) | 208 518 | 204 559 | 202 673 | 206 959 | 207 367 | 199 375 | 196 028 | |||
| Earnings per share | Net profit attributable to ordinary shareholders of Barloworld Limited | SA cents | 321.8 | 602.2 | 1 120.0 | 1 138.9 | 891.7 | 757.4 | 572.4 | ||
| Weighted average number of ordinary shares in issue, net of buy-back | US cents | 36.2 | 81.1 | 155.9 | 173.4 | 143.6 | 114.2 | 71.2 | |||
| Earnings per share continuing operations | As above, but using results from continuing operations only | SA cents | 361.1 | 608.1 | 679.4 | 643.1 | 554.6 | 280.9 | 213.3 | ||
| US cents | 40.6 | 81.8 | 94.6 | 97.9 | 89.3 | 42.3 | 26.5 | ||||
| Headline earnings per share | Net profit attributable to ordinary shareholders of Barloworld Limited + goodwill amortisation -/(+) non trading profits/(losses) net of tax and minority interest thereof | SA cents | 282.5 | 614.0 | 1 181.2 | 1 170.8 | 887.8 | 853.7 | 588.7 | ||
| Weighted average number of ordinary shares in issue, net of buy-back | US cents | 31.8 | 82.6 | 164.4 | 178.2 | 143.0 | 128.7 | 73.2 | |||
| Headline earnings per share continuing operations | As above, but using results from continuing operations only | SA cents | 350.6 | 615.5 | 672.0 | 595.8 | 553.6 | 530.2 | 337.0 | ||
| US cents | 39.4 | 82.9 | 93.7 | 90.7 | 89.1 | 79.9 | 41.9 | ||||
| Dividends per share** | Interim and final dividends declared out of current year’s earnings | SA cents | 110 | 205 | 375 | 600 | 455 | 380 | 290 | ||
| US cents | 12.4 | 33.7 | 52.2 | 91.3 | 73.3 | 57.3 | 36.1 | ||||
| Dividend cover& | Headline earnings (continuing operations) + BEE transaction charge (net of taxation) | times | 3.0 | 2.9 | 3.1 | 2.0 | 2.0 | 2.2 | 2.0 | ||
| Dividends paid out of current year’s earnings | |||||||||||
| Net asset value per share | Interest of shareholders of Barloworld Limited, incl investments at market value | SA cents | 5 731 | 6 451 | 5 713 | 6 973 | 5 620 | 5 263 | 5 100 | ||
| Number of ordinary shares in issue, net of buy-back | US cents | 756 | 779 | 828 | 898 | 884 | 814 | 725 | |||
| Profitability and asset management^ | Targets | ||||||||||
| Operating margin Group | Operating profit before BEE charge and goodwill amortisation | % | 4.3 | 6.3 | 8.7 | 9.2 | 9.1 | 8.4 | 7.1 | ||
| Revenue group operations | |||||||||||
| Operating margin Continuing operations | Operating profit before BEE charge and goodwill amortisation | % | >5 | 4.7 | 6.4 | 5.7 | 5.1 | 6.2 | 5.9 | 5.6 | |
| Revenue continuing operations | |||||||||||
| Net asset turn | Revenue group operations | times | >2.5 | 1.9 | 2.2 | 2.2 | 1.9 | 2.0 | 2.0 | 2.0 | |
| Average net assets | |||||||||||
| Return on net assets (Group) | Operating profit (after goodwill amortisation) + BEE transaction charge + investment income + income from associates and joint ventures | % | >18 | 9.1 | 15.1 | 20.2 | 19.5 | 18.6 | 17.5 | 14.7 | |
| Average net assets | |||||||||||
| Return on net assets (Trading businesses) | As per above Group calculation but excluding leasing and car rental businesses | % | >20 | 10.3 | 20.6 | 28.8 | 27.9 | 26.0 | 22.8 | 18.5 | |
| Return on ordinary shareholders’ funds (excluding exceptional items) | Net profit attributable to ordinary shareholders of Barloworld Limited – net exceptional items + BEE transaction charge (net of tax) | % | >15 | 4.8 | 13.6 | 18 9 | 18.0 | 16.8 | 14.8 | 9.9 | |
| Average Interest of shareholders of Barloworld Limited | |||||||||||
| Cash flow return on investment (CFROI®) | Refer to www.barloworld.com for definition | % | >8 | 9.1 | 10.3 | 12.2 | 12.3 | 10.3 | 8.9 | 8.1 | |
| Replacement capex to depreciation | Replacement capital expenditure | % | 24.4 | 14.4 | 23.0 | 26.3 | 43.1 | 36.6 | 183.7 | ||
| Depreciation charge | |||||||||||
| Effective rate of taxation continuing operations | Tax charge – prior year tax – exceptional tax – secondary tax on companies | % | 22.2 | 32.7 | 28.5 | 28.9 | 30.2 | 25.9 | 32.5 | ||
| Profit before tax -/(+) exceptional items + goodwill amortisation | |||||||||||
| * | Not restated for accounting policy changes due to practical constraints | ||||||||||
| ^ | All years have been reclassified for the treatment of the Car rental Scandinavia, Cement, Scientific, Coatings and Steel Tube segments as discontinued operations. | ||||||||||
| ** | Excludes special dividend of 500 cents paid in April 2007. | ||||||||||
| & | For 2007 and prior years this ratio was calculated as Headline earnings per share divided by dividends per share | ||||||||||
| Liquidity and leverage^ | |||||||||||
| Total liabilities to total shareholders’ funds | Non-current liabilities – deferred tax liabilities + current liabilities | % | <150 | 147.3 | 158.5 | 167.8 | 142.2 | 128.5 | 140.6 | 122.7 | |
| Interest of all shareholders | |||||||||||
| Total borrowings to total shareholders’ funds | Non-current interest-bearing liabilities + amounts due to bankers and short-term loans + convertible bond | ||||||||||
| Interest of all shareholders | |||||||||||
| – Total group | % | 81.3 | 81.7 | 80.8 | 68.8 | 66.3 | 68.6 | 59.1 | |||
| – Trading businesses | % | 30 - 50 | 48.7 | 51.4 | 38.2 | 31.3 | 20.9 | 41.4 | 29.2 | ||
| – Leasing businesses | % | 600 - 800 | 567.1 | 552.3 | 646.3 | 563.5 | 633.8 | 598.2 | 814.6 | ||
| – Car rental businesses | % | 200 - 300 | 204.9 | 165.3 | 216.3 | 233.5 | 259.2 | 299.5 | |||
| Net borrowings/EBITDA | Non-current interest-bearing liabilities + amounts due to bankers and short-term loans + convertible bond – cash and cash equivalents | times | <2.5 | 2.0 | 1.8 | 1.3 | 1.4 | 1.3 | 1.4 | 1.2 | |
| Operating profit + amortisation of goodwill and intangible assets + depreciation charge | |||||||||||
| Number of years to repay interest-bearing debt | Non-current interest-bearing liabilities + amounts due to bankers and short-term loans + convertible bond | years | <5 | 3.4 | 5.4 | 2.3 | 2.1 | 2.2 | 2.4 | 2.5 | |
| Cash flow from operations | |||||||||||
| Current ratio | Current assets | >1 | 1.5 | 1.4 | 1.5 | 1.6 | 1.7 | 1.5 | 1.4 | ||
| Current liabilities | |||||||||||
| Quick ratio | Current assets – inventories | >0.5 | 0.9 | 0.9 | 1.0 | 1.2 | 1.1 | 1.0 | 0.8 | ||
| Current liabilities | |||||||||||
| Interest cover – continuing operations | Profit before exceptional items + goodwill amortisation + BEE transaction charge + interest paid (incl interest capitalised and interest included in cost of sales) | ||||||||||
| Interest paid (incl interest capitalised and interest included in cost of sales | |||||||||||
| – Total group | times | >3 | 1.9 | 3.1 | 3.8 | 3.6 | 3.9 | 3.0 | 2.2 | ||
| – Trading businesses | times | >4 | 2.1 | 4.4 | 5.3 | 6.9 | 7.7 | 4.2 | 2.8 | ||
| – Leasing businesses | times | >1 | 2.2 | 1.6 | 1.6 | 1.3 | 1.6 | 1.5 | 1.3 | ||
| – Car rental businesses | times | >1.25 | 1.2 | 1.0 | 1.8 | 1.7 | 1.9 | 1.7 | |||
| Value added | |||||||||||
| Number of employees | 18 918 | 19 668 | 21 960 | 25 716 | 25 963 | 25 233 | 22 749 | ||||
| Revenue per employee | Revenue | R000's | 2 247.1 | 2 341.2 | 2 108.4 | 1 720.9 | 1 472.6 | 1 452.2 | 1 506.4 | ||
| Average number of employees | |||||||||||
| Value created per employee | Total value created per value added statement | R000's | 622.2 | 586.6 | 681.0 | 531.4 | 474.9 | 452.2 | 407.3 | ||
| Average number of employees | |||||||||||
| Employment cost per employee | Salaries, wages and other benefits paid to employees | R000's | 365.6 | 326.4 | 350.8 | 268.6 | 252.0 | 250.5 | 237.3 | ||
| Average number of employees | |||||||||||
| * | Not restated for accounting policy changes due to practical constraints | ||||||||||
| ^ | All years have been reclassified for the treatment of the Car rental Scandinavia, Cement, Scientific, Coatings and Steel Tube segments as discontinued operations. | ||||||||||
| Ordinary shares – JSE Limited performance | |||||||||||
| Closing market prices per share | |||||||||||
| – year-end (30 September) | SA cents | 4 900 | 6 450 | 12 960 | 19 950 | 11 629 | 7 800 | 5 675 | |||
| US cents | 647 | 779 | 1 879 | 1 667 | 1 829 | 1 205 | 807 | ||||
| – highest | SA cents | 6 642 | 13 399 | 21 750 | 14 050 | 11 730 | 7 979 | 6 359 | |||
| – lowest | SA cents | 2 451 | 5900 | 10 651 | 10 010 | 7 790 | 5 610 | 4 750 | |||
| Number of shares in issue at 30 September## | million | 209 | 208 | 204 | 201 | 209 | 204 | 196 | |||
| Volume of shares traded | million | 331 | 293 | 204 | 234 | 187 | 147 | 147 | |||
| Value of shares traded | Rm | 13 827 | 26 423 | 32 111 | 27 465 | 18 230 | 9 902 | 8 196 | |||
| Earnings yield | Headline earnings per share | % | 5.8 | 9.5 | 9.1 | 9.0 | 7.6 | 10.9 | 10.4 | ||
| Closing market price per share | |||||||||||
| Dividend yield | Dividends per share | % | 2.2 | 3.9 | 2.9 | 4.6 | 3.9 | 4.9 | 5.1 | ||
| Closing market price per share | |||||||||||
| Total shareholder return – Barloworld Limited | |||||||||||
| – Annual share price gain” | % | (24.0) | (50.2) | 0.1 | 11.4 | 49.1 | 37.4 | (3.8) | |||
| – Total shareholder return | Annual share price gain + dividend yield | (21.8) | (46.4) | 78.6# | 16.0 | 53.0 | 42.3 | 1.3 | |||
| Total shareholder return – JSE all share (Alsi) index | |||||||||||
| – Alsi index (30 September) | 24 911 | 23 836 | 29 959 | 22 375 | 16 875 | 11 761 | 8 926 | ||||
| – Gain/(loss) in Alsi index – year to 30 September | % | 4.5 | (20.4) | 43.5 | 43.5 | 43.5 | 31.8 | (5.7) | |||
| – Dividend yield | % | 3.9 | 3.7 | 2.4 | 2.5 | 2.5 | 2.7 | 3.6 | |||
| – Total shareholder return | % | 8.4 | (16.8) | 36.3 | 35.0 | 46.0 | 34.5 | (2.1) | |||
| Price: Earnings ratio | Closing market price per share | times | 17.3 | 10.5 | 11.0 | 11.1 | 13.1 | 9.1 | 9.6 | ||
| Headline earnings per share | |||||||||||
| Price: Earnings ratio – JSE Alsi index | 12.6 | 10.6 | 16.4 | 16.1 | 15.2 | 14.6 | 9.7 | ||||
| Market capitalisation at 30 September” | Closing market price per share X number of shares in issue at 30 September | Rm | 11 145 | 13 427 | 26 418 | 25 993 | 24 260 | 15 897 | 11 142 | ||
| Premium (under)/over interest of shareholders of Barloworld Limited | Market capitalisation – Interest of shareholders of Barloworld Limited | Rm | (708.4) | 579.1 | 15 277 | 12 324 | 12 774 | 5 380 | 1 458 | ||
| * | Not restated for accounting policy changes due to practical constraints. | ||||||||||
| ^ | The number of shares in issue excludes shares issued in the respect of the BEE transaction other than to the General staff trust and has been reduced by 19 million purchased by a subsidiary company in terms of a programme to buy back the company’s shares in 2005, 2004 and 2003 (refer note 13). | ||||||||||
| “ | The group’s shareholding in Pretoria Portland Cement Company Limited (“PPC”) with a market value of R19.3 billion was distributed to shareholders in 2007 | ||||||||||
| # | Calculated taking into account the growth in the Barloworld share price, the value of PPC shares distributed to shareholders per the entitlement ratio, the Barloworld interim, final and special dividends and the PPC final and special dividends. | ||||||||||