Key financial information

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

Statement of Financial Position

  2017
Rm		 2016
Rm
ASSETS    
Non-current assets		 18 613 20 179
Property, plant and equipment		 12 659 13 806
Goodwill		 1 932 2 015
Intangible assets		 1 602 1 713
Investment in associates and joint ventures		 1 093 923
Finance lease receivables		 240 147
Long-term financial assets		 404 448
Deferred taxation assets		 683 1 127
Current assets		 24 368 25 015
Vehicle rental fleet		 3 222 2 789
Inventories		 8 457 10 317
Trade and other receivables		 8 676 8 826
Taxation		 88 55
Cash and cash equivalents		 3 925 3 028
Assets classified as held for sale		 3 343 828
Total assets		 46 324 46 022
EQUITY AND LIABILITIES    
Capital and reserves    
Share capital and premium		 441 441
Other reserves		 5 144 5 134
Retained income		 14 690 13 367
Interest of shareholders of Barloworld Limited		 20 275 18 942
Non-controlling interest		 602 737
Interest of all shareholders		 20 877 19 679
Non-current liabilities		 10 852 12 446
Interest-bearing		 7 623 8 379
Deferred taxation liabilities		 538 703
Provisions		 19 111
Other non-current liabilities		 2 672 3 253
Current liabilities		 13 798 13 830
Trade and other payables		 10 697 10 054
Provisions		 929 931
Taxation		 117 180
Amounts due to bankers and short-term loans		 2 055 2 665
Liabilities directly associated with assets classified as held for sale		 797 67
Total equity and liabilities		 46 324 46 022

Income Statement

  2017
Rm		 2016
Rm
CONTINUING OPERATIONS    
Revenue		 61 959 62 074
Operating profit before items listed below (EBITDA)		 6 694 6 486
Depreciation		 (2 468) (2 294)
Amortisation of intangible assets		 (144) (105)
Operating profit		 4 082 4 087
Fair value adjustments on financial instruments		 (209) (209)
Finance costs		 (1 329) (1 331)
Income from investments		 109 111
Profit before non-operating and capital items		 2 653 2 658
Non-operating and capital items		 (155) 85
Profit before taxation		 2 498 2 743
Taxation		 (565) (796)
Profit after taxation		 1 933 1 947
Income from associates and joint ventures		 93 3
Profit for the year from continuing operations		 2 026 1 950
DISCONTINUED OPERATION    
(Loss)/profit from discontinued operation		 (269) 29
Profit for the year		 1 757 1 979
Attributable to:    
Owners of Barloworld Limited		 1 643 1 883
Non-controlling interests in subsidiaries		 114 96
 		 1 757 1 979
Earnings per share from group (cents)    
– basic		 779.6 890.5
– diluted		 774.7 888.2
Earnings per share from continuing operations (cents)    
– basic		 907.2 876.8
– diluted		 901.5 874.5
(Loss)/earnings per share from discontinued operation (cents)    
– basic		 (127.6) 13.7
– diluted		 (126.8) 13.7

Statement of Cash Flows

  2017
Rm		 2016
Rm
CASH FLOWS FROM OPERATING ACTIVITIES    
Cash receipts from customers		 65 536 67 345
Cash paid to employees and suppliers		 (56 690) (58 065)
Cash generated from operations before investment in leasing and rental fleet		 8 846 9 280
Fleet leasing and equipment rental fleet		 (1 661) (506)
   Additions		 (3 550) (2 580)
   Proceeds on disposal		 1 889 2 074
Vehicles rental fleet		 (1 220) (947)
   Additions		 (4 373) (3 798)
   Proceeds on disposal		 3 153 2 851
Cash generated from operations		 5 965 7 827
Finance costs		 (1 338) (1 346)
Realised fair value adjustments on financial instruments		 (270) (105)
Dividends received from investments, associates and joint ventures		 13 31
Interest received		 108 113
Taxation paid		 (744) (805)
Cash inflow from operations		 3 734 5 715
Dividends paid (including non-controlling interest)		 (803) (772)
Cash retained from operating activities		 2 931 4 943
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisition of subsidiaries, investments and intangibles		 (393) (1 057)
Proceeds on disposal of subsidiaries, investments and intangibles		 379 258
Movements in investments in leasing receivables		 (134) 9
Acquisition of other property, plant and equipment		 (774) (980)
   Replacement capital expenditure		 (315) (459)
   Expansion capital expenditure		 (458) (521)
Proceeds on disposal of property, plant and equipment		 593 334
Net cash used in investing activities		 (329) (1 436)
Net cash inflow before financing activities		 2 602 3 507
Shares repurchased for equity-settled share-based payments		 (154) (95)
Share buy-back		   (162)
Share issue		   286
Purchase of non-controlling interest		 (201) (142)
Non-controlling interest loan and equity movements		 (4) 24
Proceeds from long-term borrowings		 4 260 2 500
Repayment of long-term borrowings		 (5 005) (3 311)
Movement in short-term interest-bearing liabilities		 (546) (1 853)
Net cash used in financing activities		 (1 642) (2 753)
Net increase in cash and cash equivalents		 960 754
Cash and cash equivalents at beginning of year		 3 028 2 372
Effect of foreign exchange rate movement on cash balance		 39 (112)
Effect of cash balances classified as held for sale		 (102) 14
Cash and cash equivalents at end of year		 3 925 3 028
Cash balances not available for use due to reserving restrictions		 444 580