Key financial information
- Statement of financial position
- Income statement
- Statement of cash flows
Statement of Financial Position
| 2019 Rm |
2018 Rm |
|
| ASSETS | ||
| Non-current assets | 14 540 | 19 231 |
| Property, plant and equipment | 7 879 | 12 657 |
| Goodwill | 1 408 | 1 873 |
| Intangible assets | 1 527 | 1 528 |
| Investment in associates and joint ventures | 2 253 | 1 343 |
| Finance lease receivables | 2 | 211 |
| Long-term financial assets | 710 | 909 |
| Deferred taxation assets | 761 | 710 |
| Current assets | 26 871 | 29 531 |
| Vehicle rental fleet | 3 137 | 3 058 |
| Inventories | 8 072 | 9 592 |
| Trade and other receivables | 7 384 | 8 883 |
| Contract assets | 981 | |
| Taxation | 71 | 105 |
| Cash and cash equivalents | 7 226 | 7 893 |
| Assets classified as held for sale | 5 780 | 497 |
| Total asset | 47 191 | 49 259 |
| EQUITY AND LIABILITIES | ||
| Capital and reserves | ||
| Share capital and premium | 441 | 441 |
| Other reserves | 4 523 | 4 194 |
| Retained income | 18 659 | 17 598 |
| Interest of shareholders of Barloworld Limited | 23 623 | 22 233 |
| Non-controlling interest | 272 | 517 |
| Interest of all shareholders | 23 895 | 22 750 |
| Non-current liabilities | 7 336 | 8 917 |
| Interest-bearing | 4 621 | 5 995 |
| Deferred taxation liabilities | 356 | 632 |
| Provisions | 102 | 47 |
| Other non-current liabilities | 2 257 | 2 243 |
| Current liabilities | 13 738 | 17 466 |
| Trade and other payables | 9 363 | 11 122 |
| Contract liabilities | 601 | |
| Provisions | 507 | 1 100 |
| Taxation | 80 | 70 |
| Amounts due to bankers and short-term loans | 3 187 | 5 174 |
| Liabilities directly associated with assets classified as held for sale | 2 222 | 126 |
| Total equity and liabilities | 47 191 | 49 259 |
Income Statement
| 2019 Rm |
Restated* 2018 Rm |
|
| CONTINUING OPERATIONS | ||
| Revenue | 56 834 | 60 094 |
| Operating profit before items listed below | 5 145 | 5 536 |
| Impairment losses on financial assets and contract assets | (124) | |
| Depreciation | (1 561) | (1 634) |
| Amortisation of intangible assets | (115) | (140) |
| Operating profit before B-BBEE transaction charge | 3 345 | 3 762 |
| B-BBEE transaction charge | (73) | |
| Operating profit | 3 272 | 3 762 |
| Fair value adjustments on financial instruments | 32 | (122) |
| Finance costs | (1 085) | (1 145) |
| Income from investments | 192 | 140 |
| Profit before non-operating and capital items | 2 411 | 2 635 |
| Non-operating and capital items | 87 | (248) |
| Profit before taxation | 2 498 | 2 387 |
| Taxation | (771) | (870) |
| Profit after taxation | 1 727 | 1 517 |
| Income from associates and joint ventures | 231 | 235 |
| Profit for the year from continuing operations | 1 958 | 1 752 |
| DISCONTINUED OPERATIONS | ||
| Profit from discontinued operations | 519 | 2 168 |
| Profit for the year | 2 477 | 3 920 |
| Attributable to: | ||
| Owners of Barloworld Limited | 2 428 | 3 846 |
| Non-controlling interests in subsidiaries | 49 | 74 |
| 2 477 | 3 920 | |
| Earnings per share f rom group (cents) | ||
| – basic | 1 150.2 | 1 823.8 |
| – diluted | 1 146.9 | 1 812.9 |
| Earnings per share f rom continuing operations (cents) | ||
| – basic | 907.2 | 801.9 |
| – diluted | 904.6 | 797.1 |
| Earnings per share f rom discontinued operation (cents) | ||
| – basic | 243.0 | 1 021.9 |
| – diluted | 242.3 | 1 015.8 |
Statement of Cash Flows
| 2019 Rm |
2018 Rm |
|
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Cash receipts from customers | 60 450 | 65 334 |
| Cash paid to employees and suppliers | (53 211) | (59 288) |
| Cash generated from operations before investment in leasing and rental f leet | 7 239 | 6 046 |
| Fleet leasing and equipment rental fleet | (1 118) | (1 593) |
| Additions | (2 940) | (3 305) |
| Proceeds on disposal | 1 822 | 1 713 |
| Vehicles rental fleet | (809) | (631) |
| Additions | (3 546) | (3 921) |
| Proceeds on disposal | 2 737 | 3 290 |
| Cash generated from operations | 5 312 | 3 822 |
| Finance costs | (1 134) | (1 184) |
| Realised fair value adjustments on financial instruments | (130) | (140) |
| Dividends received from investments, associates and joint ventures | 72 | 113 |
| Interest received | 204 | 148 |
| Taxation paid | (774) | (1 058) |
| Cash inflow from operations | 3 550 | 1 700 |
| Dividends paid (including non-controlling interest) | (1 057) | (953) |
| Cash retained from operating activities | 2 493 | 747 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Acquisition of subsidiaries, investments and intangibles | (54) | (86) |
| Proceeds on disposal of subsidiaries | (84) | 2 342 |
| Proceeds on disposal of investments and intangible assets | 5 | |
| Inflow/(outflow) of investment in leasing receivables | 161 | (53) |
| Acquisition of other property, plant and equipment | (633) | (618) |
| Replacement capital expenditure | (154) | (244) |
| Expansion capital expenditure | (479) | (374) |
| Proceeds on disposal of property, plant and equipment | 119 | 306 |
| Net cash (used in)/generated from investing activities | (486) | 1 891 |
| Net cash inflow before financing activities | 2 007 | 2 638 |