Key Financial Information

Statement of financial position

Income statement

Statement of cash flows

Compound annual growth	2011 Rm	2010† Rm	2009^† Rm	2008^† Rm	2007*† Rm
Statement of financial position
Assets
Property, plant and equipment	8 743	7 575	7 854	8 056	6 847
Goodwill and intangible assets	2 513	2 375	2 599	2 626	2 320
Investments in associates and joint ventures
and other non-current assets	762	921	1 473	2 099	2 233
Deferred taxation assets	649	755	656	488	619
Non-current assets	12 667	11 626	12 582	13 269	12 019
Current assets	18 252	14 012	15 155	17 812	18 636
Assets classified as held for sale	13	52	2 358	2 876
Total assets	30 932	25 690	30 095	33 957	30 655
Equity and liabilities
Capital and reserves
Share capital and premium	304	295	252	242	223
Reserves and retained income	12 085	10 298	11 601	12 606	10 918
Interest of shareholders of Barloworld Limited	12 389	10 593	11 853	12 848	11 141
Non-controlling interest	263	233	217	185	80
Interest of all shareholders	12 652	10 826	12 070	13 033	11 221
Non-current liabilities	7 279	5 670	6 486	6 252	6 638
Deferred taxation liabilities	229	302	249	266	610
Non-current liabilities	7 050	5 368	6 237	5 986	6 028
Current liabilities	10 996	9 136	10 030	12 676	12 796
Liabilities directly associated with assets classified as held for sale	5	58	1 509	1 996
Total equity and liabilities	30 932	25 690	30 095	33 957	30 655

†	Reclassification of interest paid in the leasing business from cost of sales to finance costs
^	Restated for the treatment of IAS 7 and IAS 16
*	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

Compound annual growth		2011 Rm	2010† Rm	2009^† Rm	2008^† Rm	2007*† Rm
Income statement^{# +}
Continuing operations
Revenue	9.3%	49 823	40 830	45 269	50 107	39 757
Operating profit before items listed below (EBITDA)	14.8%	3 993	3 318	4 061	4 689	2 411
Depreciation		(1 620)	(1 736)	(1 854)	(1 833)
Amortisation of intangible assets		(84)	(64)	(61)	(52)
Operating profit	4.6%	2 289	1 518	2 146	2 804	2 411
Fair value adjustments on financial instruments		(65)	(89)	(201)	(80)	295
Finance costs	6.8%	(755)	(809)	(1 090)	(1 042)	(765)
Income from investments		62	84	149	195	164
Profit before exceptional items	2.9%	1 531	704	1 004	1 877	2 105
Exceptional items		62	(176)	22	(17)	(74)
Profit before taxation		1 593	528	1 026	1 860	2 031
Taxation		(584)	(228)	(248)	(675)	(697)
Profit after taxation		1 009	300	778	1 185	1 334
Income from associates and joint ventures		71	16	43	72	53
Net profit from continuing operations		1 080	316	821	1 257	1 387
Discontinued operations
(Loss)/profit from discontinued operations			(272)	(82)	(11)	1 172
Net profit		1 080	44	739	1 246	2 559
Attributable to:
Non-controlling interests in subsidiaries		63	51	68	14	289
Owners of Barloworld Limited		1 017	(7)	671	1 232	2 270
		1 080	44	739	1 246	2 559
Headline earnings from continuing operations	(2.6%)	979	443	731	1 259	1 362

†	Reclassification of interest paid in the leasing business from cost of sales to finance costs
^	Restated for the treatment of IAS 7 and IAS 16
*	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

Compound annual growth	2011 Rm	2010† Rm	2009^† Rm	2008^† Rm	2007*† Rm
Statement of cash flows
Cash flow from operations	1 915	2 565	2 284	90	3 888
Dividends paid (including non-controlling interest)	(257)	(223)	(434)	(622)	(2 629)
Net cash flow from operating activities	1 658	2 342	1 850	(532)	1 259
Net cash flow used in investing activities	(712)	(56)	(643)	(715)	(880)
Net cash flow (used in)/from financing activities	(178)	(1 791)	(647)	1 347	(988)
Net increase/(decrease) in cash and cash equivalents	768	495	560	100	(609)

†	Reclassification of interest paid in the leasing business from cost of sales to finance costs
^	Restated for the treatment of IAS 7 and IAS 16
*	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

Investors