Key financial information

  • Statement of financial position
  • Income statement
  • Statement of cash flows

Statement of Financial Position

Notes 2015
Rm		 2014
Rm		 2013*
Rm
ASSETS
Non-current assets   19 906 17 287 16 023
Property, plant and equipment   14 380 12 614 11 356
Goodwill   1 740 1 661 1 820
Intangible assets   1 500 1 380 1 399
Investment in associates and joint ventures   923 720 571
Finance lease receivables   142 123 115
Long-term financial assets   438 94 108
Deferred taxation assets		   783 695 654
Current assets		   28 052 26 719 24 213
Vehicle rental fleet		   2 488 2 307 2 081
Inventories		   13 767 11 814 11 688
Trade and other receivables		   9 331 8 357 7 687
Taxation		   94 79 62
Cash and cash equivalents		   2 372 4 162 2 695
Assets classified as held for sale		 6 197   371
Total assets		   48 155 44 006 40 607
EQUITY AND LIABILITIES
Capital and reserves        
Share capital and premium		   282 316 316
Other reserves		   5 793 4 517 4 094
Retained income		   13 351 12 049 11 035
Interest of shareholders of Barloworld Limited		   19 426 16 882 15 445
Non-controlling interest		   616 604 462
Interest of all shareholders		   20 042 17 486 15 907
Non-current liabilities		   12 078 9 700 9 611
Interest-bearing		   9 074 6 921 7 285
Deferred taxation liabilities		   571 377 421
Provisions		   139 182 267
Other non-current liabilities		   2 294 2 220 1 638
Current liabilities		   15 992 16 820 14 983
Trade and other payables		   10 531 11 263 10 780
Provisions		   1 058 1 046 995
Taxation		   52 116 240
Amounts due to bankers and short-term loans		   4 351 4 395 2 968
Liabilities directly associated witd assets classified as held for sale		 6 43   106
Total equity and liabilities		   48 155 44 006 40 607

Income Statement

Notes 2015
Rm		 2014
Rm		 2013*
Rm
CONTINUING OPERATIONS
Revenue   62 720 62 101 59 498
Operating profit before items listed below (EBITDA) 6 479 6 170 5 389
Depreciation (2 355) (2 198) (1 940)
Amortisation of intangible assets (129) (142) (136)
Operating profit   3 995 3 830 3 313
B-BBEE charge 		  (251)    
Operating profit including B-BBEE charge 		  3 744 3 830  
Fair value adjustments on financial instruments		   (198) (156) (47)
Finance costs		   (1 252) (1 117) (1 000)
Income from investments		   67 39 28
Profit before exceptional items		 2 361 2 596 2 294
Exceptional items		 3 (6) (66) (79)
Profit before taxation		 2 355 2 530 2 215
Taxation		 (808) (837) (729)
Profit after taxation		 1 547 1 693 1 486
Income from associates and joint ventures		 287 217 185
Net profit from continuing operations		 1 834 1 910 1 671
DISCONTINUED OPERATIONS
Profit from discontinued operations		 6   428 46
Net profit		 1 834 2 338 1 717
Attributable to:        
Owners of Barloworld Limited		 1 713 2 143 1 609
Non-controlling interests in subsidiaries		 121 195 108
 		 1 834 2 338 1 717
Earnings per share (cents)        
– basic		   808.7 1 012.3 763.0
– diluted		   806.1 1 007.5 759.2
Earnings per share from continuing operations (cents)        
– basic		   808.7 810.3 739.9
– diluted		   806.1 806.4 736.2
Earnings per share from discontinued operations (cents)        
– basic		     202.0 23.1
– diluted		     201.1 23.0

Statement of Cash Flows

Notes 2015
Rm		 2014
Rm		 2013*
Rm
CASH FLOWS FROM OPERATING ACTIVITIES
Cash receipts from customers   7 094 64 533 64 829
Cash paid to employees and suppliers   (3 429) (58 701) (58 366)
Cash generated from operations before investment in leasing and rental assets   3 665 5 832 6 463
Net investment in fleet leasing and equipment rental assets   (1 847) (2 143) (1 636)
Net investment in vehicle rental fleet   (754) (736) (572)
Cash generated from/(utilised in) operations		   1 064 2 953 4 255
Finance costs		   (1 252) (1 125) (1 022)
Realised fair value adjustments on financial instruments		   (210) (162) (54)
Dividends received from investments, associates and joint ventures		   218 197 221
Interest received		   67 39 28
Taxation paid		   (770) (947) (821)
Cash inflow/(outflow) from operations		   (882) 955 2 607
Dividends paid (including non-controlling interest)		   (814) (742) (598)
Cash retained from/(applied to) operating activities		   (1 696) 214 2 009
CASH FLOWS FROM INVESTING ACTIVITIES        
Acquisition of subsidiaries, investments and intangibles		 4 (641) (323) (775)
Proceeds on disposal of subsidiaries, investments and intangibles		 5 61 1 316 105
Net investment in leasing receivables		   (128) (15) 22
Acquisition of other property, plant and equipment		   (1 363) (1 323) (818)
Replacement capital expenditure		   (690) (476) (339)
Expansion capital expenditure		   (673) (847) (479)
Proceeds on disposal of property, plant and equipment		   245 276 117
Net cash used in investing activities		   (1 826) (69) (1 349)
Net cash inflow/(outflow) before financing activities		   (3 523) 145 660
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds on share issue		       4
Shares repurchased for equity-settled share-based payments		   (22) (34) (32)
Non-controlling equity loans		   (6)   6
Purchase of non-controlling interest		     (4) (125)
Proceeds from long-term borrowings		   3 921 3 651 1 614
Repayment of long-term borrowings		   (1 971) (3 987) (1 748)
Increase/(decrease) in short-term interest-bearing liabilities		   (331) 1 535 (339)
Net cash from/(used in) financing activities		   1 591 1 161 (620)
Net increase/(decrease) in cash and cash equivalents		   (1 932) 1 306 40
Cash and cash equivalents at beginning of year		   4 162 2 695 2 476
Effect of foreign exchange rate movement on cash balance		   156 131 208
Effect of cash balances classified as held for sale		   (14) 29 (29)
Cash and cash equivalents at end of year		   2 372 4 162 2 695
Cash balances not available for use due to reserving restrictions		   337 58 189
 
Notes 2015
Rm		 2014
Rm		 2013*
Rm
CASH FLOWS FROM OPERATING ACTIVITIES (BEFORE DIVIDENDS PAID)
Continuing operations        
– Equipment and Handling		   (963) 535 2 265
– Automotive and Logistics		   218 534 284
– Corporate		   (138) (312) (85)
Total continuing operations		   (883) 757 2 464
Discontinued operations        
– Motor retail – Australia		     198 143
Total discontinued operations		     198 143
Total group		   (883) 955 2 607
CASH FLOWS FROM INVESTING ACTIVITIES
Continuing operations        
– Equipment and Handling		   (645) (536) (854)
– Automotive and Logistics		   (1 155) (761) (449)
- Corporate		   (26) 49 (38)
Total continuing operations		   (1 826) (1 248) (1 341)
Discontinued operations        
– Motor retail – Australia		     1 179 (8)
Total discontinued operations		     1 179 (8)
Total group		   (1 826) (69) (1 349)
CASH FLOWS FROM INVESTING ACTIVITIES
Continuing operations        
– Equipment and Handling		   2 825 521 (782)
– Automotive and Logistics		   1 144 1 158 893
– Corporate		   (2 378) 371 (636)
Total continuing operations		   1 591 2 050 (525)
Discontinued operations        
– Motor retail – Australia		     (889) (95)
Total discontinued operations		     (889) (95)
Total group		   1 591 1 161 (620)