Financial & operational data
- Statement of financial position
- Income statement
- Statement of cash flows
Statement of Financial Position
R million | Notes |
2022 | 2021 | |
---|---|---|---|---|
ASSETS | ||||
Non-current assets | 16 840 | 21 237 | ||
Property, plant and equipment | 9 | 7 555 | 11 417 | |
Investment property | 9 | 932 | 1 000 | |
Right-of-use assets | 10 | 359 | 634 | |
Goodwill | 11 | 2 138 | 2 756 | |
Intangible assets | 12 | 2 080 | 2 370 | |
Investment in associates and joint ventures | 13 | 2 424 | 1 880 | |
Long-term trade and other receivables | 14 | 16 | 134 | |
Long-term financial assets | 15 | 178 | 198 | |
Deferred taxation assets | 16 | 1 158 | 848 | |
Current assets | 25 849 | 29 220 | ||
Vehicle rental fleet | 9 | 2 819 | ||
Inventories | 17 | 8 595 | 8 111 | |
Trade and other receivables | 18 | 7 027 | 6 949 | |
Contract assets | 19 | 786 | 424 | |
Taxation | 242 | 196 | ||
Cash and cash equivalents | 20 | 9 199 | 10 721 | |
Assets classified as held for sale | 21 | 11 717 | 2 387 | |
Total assets | 54 406 | 52 844 |
EQUITY AND LIABILITIES | ||||
Capital and reserves | ||||
Share capital and premium | 22 | (2 212) | (1 200) | |
Other reserves | 6 517 | 4 911 | ||
Retained income | 14 614 | 17 711 | ||
Interest of shareholders of Barloworld Limited | 18 919 | 21 422 | ||
Non-controlling interest | 262 | 283 | ||
Interest of all shareholders | 19 181 | 21 705 | ||
Non-current liabilities | 10 776 | 10 139 | ||
Interest-bearing liabilities | 23 | 8 641 | 7 401 | |
Deferred taxation liabilities | 16 | 1 042 | 1 186 | |
Lease liabilities | 26 | 416 | 770 | |
Provisions and other accruals | 24 | 177 | 140 | |
Contract liabilities | 28 | 445 | ||
Other non-current liabilities | 25 | 500 | 197 | |
Current liabilities | 16 475 | 19 214 | ||
Trade and other payables | 27 | 10 949 | 10 441 | |
Contract liabilities | 28 | 1 574 | 2 131 | |
Lease liabilities | 26 | 111 | 133 | |
Provisions and other accruals | 24 | 719 | 859 | |
Taxation | 15 | 155 | ||
Amounts due to bankers and short-term loans | 29 | 3 107 | 5 495 | |
Liabilities directly associated with assets classified as held for sale | 21 | 7 974 | 1 786 | |
Total equity and liabilities | 54 406 | 52 844 |
Income Statement
R million | Notes |
2022 | Restated* 2021 |
|
---|---|---|---|---|
CONTINUING OPERATIONS | ||||
Revenue | 2 | 39 383 | 34 123 | |
Operating profit before items listed below | 5 120 | 4 642 | ||
Reversal of impairments on financial assets and contract assets | 3 | 35 | 6 | |
Fair value adjustments on financial instruments | 4 | (284) | (182) | |
B-BBEE transaction charge | 3.1 | (82) | (81) | |
Operating profit before depreciation and amortisation, impairments and capital items, interest and taxation | 4 789 | 4 385 | ||
Depreciation | (963) | (964) | ||
Amortisation of intangible assets | (172) | (180) | ||
Operating profit from core trading activities | 3 | 3 654 | 3 241 | |
Impairments and capital items comprising of: | ||||
Reversal of impairment of property, plant and equipment | 9 | 33 | ||
Impairment of property, plant and equipment, intangibles and other assets | 9,10,12,21 | (628) |
(49) |
|
Impairment of goodwill | 11 | (217) | ||
Impairment of indefinite life intangible assets | 12 | (194) | ||
Foreign currency translation on liquidation of subsidiaries | 147 | |||
Gains on the disposal of property, plant and equipment and other assets | 47 | 41 | ||
Other capital items | (59) | |||
Profit before finance costs and income | 2 636 | 3 380 | ||
Finance costs | 5 | (1 007) | (885) | |
Finance income | 6 | 129 | 119 | |
Profit before taxation | 1 758 | 2 614 | ||
Taxation | 7 | (866) | (462) | |
Profit after taxation | 892 | 2 152 | ||
Profit from associates and joint ventures | 13 | 309 | 36 | |
Profit for the year from continuing operations | 1 201 | 2 188 |
DISCONTINUED OPERATIONS | ||||
Profit from discontinued operations | 21 | 851 | 612 | |
Profit for the year | 2 052 | 2 800 | ||
Attributable to: | ||||
Owners of Barloworld Limited | 2 043 | 2 756 | ||
Non-controlling interests in subsidiaries | 9 | 44 | ||
2 052 | 2 800 | |||
Earnings per share group (cents) | ||||
– basic | 8 | 1 051.9 | 1 390.9 | |
– diluted | 8 | 1 040.7 | 1 375.8 | |
Earnings per share from continuing operations (cents) | ||||
– basic | 8 | 617.2 | 1 077.4 | |
– diluted | 8 | 610.6 | 1 065.7 | |
Profit per share from discontinued operation (cents) | ||||
– basic | 8 | 434.7 | 313.5 | |
– diluted | 8 | 430.1 | 310.1 |
* | Refer to note 35. |
Statement of Cash Flows
R million | Notes |
2022 | 2021 | |
---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES | ||||
Cash receipts from customers | 48 283 | 12 437 | ||
Cash paid to employees and suppliers | (40 734) | (1 772) | ||
Cash generated from operations before investment in rental fleets and leasing receivables excluding settlement of financial instruments (derivatives) | A | 7 549 | 10 665 | |
Inflow of investment in leasing receivables | 26 | 60 | ||
Fleet leasing and equipment rental fleet | (1 288) | (445) | ||
Additions | (2 842) | (2 484) | ||
Proceeds on disposal | 1 554 | 2 039 | ||
Vehicles rental fleet | (1 739) | (1 745) | ||
Additions | (3 774) | (3 785) | ||
Proceeds on disposal | 2 035 | 2 040 | ||
Cash generated from operations | 4 548 | 8 535 | ||
Finance costs | (1 153) | (1 092) | ||
Settlement of financial instruments (derivatives) | (177) | (114) | ||
Dividends received from investments, associates and jointventures | 5 | 173 | ||
Finance income | 157 | 140 | ||
Taxation paid | B | (1 487) | (1 196) | |
Cash inflow from operations | 1 893 | 6 446 | ||
Dividends paid (including non-controlling interest) | (3 120) | (657) | ||
Cash (used) retained from operating activities | (1 227) | 5 789 | ||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||
Acquisition of subsidiaries | C | (5 329) | ||
Proceeds on disposal of subsidiaries | D | 109 | 878 | |
Investments realised | 96 | 389 | ||
Advances to joint ventures | (25) | |||
Acquisition of intangible assets | (47) | (51) | ||
Proceeds on realisation of right of use assets | 62 | |||
Acquisition of property, plant and equipment | (558) | (521) | ||
Replacement capital expenditure | (271) | (415) | ||
Expansion capital expenditure | (287) | (106) | ||
Proceeds on disposal of property, plant and equipment | 208 | 338 | ||
Net cash used in investing activities | (154) | (4 296) | ||
Net cash (outflow)/inflow before financing activities | (1 381) | 1 493 | ||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||
Shares repurchased for equity-settled share-based payments | (80) | (98) | ||
Share buy back | (1 012) | (79) | ||
Proceeds from long-term borrowings | 5 337 | 4 552 | ||
Repayment of long-term borrowings | (3 573) | (1 439) | ||
Movement in short-term interest-bearing liabilities | (823) | 316 | ||
Repayments of lease liabilities | (354) | (399) | ||
Net cash (used in)/received from financing activities | E | (505) | 2 853 | |
Net (decrease)/increase in cash and cash equivalents | (1 887) | 4 346 | ||
Cash and cash equivalents at beginning of year | 10 721 | 6 743 | ||
Cash and cash equivalents held for sale at the beginning of year | 118 | |||
Effect of foreign exchange rate movement on cash balance | 557 | (250) | ||
Effect of cash balances classified as held for sale | (310) | (118) | ||
Cash and cash equivalents at end of year | 9 199 | 10 721 | ||
Cash balances not available for use due to reserving restrictions (note 20) | 145 | 79 |
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