Financial & operational data

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

Statement of Financial Position

       
R million
Notes
2021  2020   
ASSETS
Non-current assets 21 237  20 470   
Property, plant and equipment 10 11 417  12 239   
Investment property 10 1 000 
Right-of-use assets 11 634  1 611   
Goodwill 12 2 756  1 352   
Intangible assets 13 2 370  1 632   
Investment in associates and joint ventures 14 1 880  2 148   
Long-term trade and other receivables* 15 134  187   
Long-term financial assets 16 198  287   
Deferred taxation assets 17 848  1 014   
Current assets 29 220  27 379   
Vehicle rental fleet 10 2 819  1 889   
Inventories 18 8 111  10 170   
Trade and other receivables 19 6 949  7 916   
Contract assets 20 424  514   
Taxation 196  147   
Cash and cash equivalents 21 10 721  6 743   
Assets classified as held for sale 22 2 387  29   
Total assets 52 844  47 878   
EQUITY AND LIABILITIES
Capital and reserves
Share capital and premium 23 (1 200) (1 121)  
Other reserves 4 911  5 856   
Retained income 17 711  14 769   
Interest of shareholders of Barloworld Limited 21 422  19 504   
Non-controlling interest 283  246   
Interest of all shareholders 21 705  19 750   
Non-current liabilities 10 139  11 251   
Interest-bearing 24 7 401  5 897   
Deferred taxation liabilities 17 1 186  806   
Lease liabilities 27 770  1 977   
Provisions and other accruals 25 140  129   
Contract liabilities 29 445  436   
Other non-current liabilities 26 197  2 006   
Current liabilities 19 214  16 877   
Trade and other payables 28 10 441  11 096   
Contract liabilities 29 2 131  1 272   
Lease liabilities 27 133  351   
Provisions and other accruals 25  859  622   
Taxation 155  38   
Amounts due to bankers and short-term loans 30 5 495  3 498   
Liabilities directly associated with assets classified as held for sale 22 1 786 
Total equity and liabilities 52 844  47 878   
* Long-term trade and other receivables was previously referred to as Long-term finance lease receivables. The current year amount includes long-term trade receivables. (Refer to note 15).

 


Income Statement

     
R million Notes 2021 Restated*
2020
  
CONTINUING OPERATIONS 
Revenue  41 553  33 909     
Operating profit before items listed below  6 942   4 711     
Impairment losses on financial assets and contract assets  (59) (245)    
Depreciation  (2 312) (2 241)    
Amortisation of intangible assets  (181) (87)    
Operating profit before B-BBEE transaction charge  4 390  2 138     
B-BBEE transaction charge  3.1  (95) (180)    
Operating profit  4 295   1 958     
Fair value adjustments on financial instruments  (190) (335)    
Finance costs  (944) (971)    
Income from investments  124  138     
Profit before non-operating and capital items  3 285  790     
Non-operating and capital items comprising of: 
Reversal of impairment/(Impairment) of investments  14  52  (194)    
Impairment of goodwill  12  (687)    
Impairment of indefinite life intangible assets  13  (708)    
Impairment of property, plant and equipment, intangibles and other assets  10, 11, 13  (49) (210)    
Other non-operating and capital items  192  36     
Profit/(loss) before taxation  3 480  (973)    
Taxation  (644) (1 068)    
Profit/(loss) after taxation  2 836  (2 041)    
Loss from associates and joint ventures  14  (13) (43)    
Profit/(loss) for the year from continuing operations  2 823  (2 084)    
DISCONTINUED OPERATIONS 
Loss from discontinued operations  22  (23) (415)    
Profit/(loss) for the year  2 800  (2 499)    
Attributable to: 
Owners of Barloworld Limited  2 756  (2 476)    
Non-controlling interests in subsidiaries  44  (23)    
2 800  (2 499)    
Earnings/(loss) per share from group (cents)
  – basic  1 390.9  (1 236.0)    
  – diluted  1 375.8  (1 236.0)    
Earnings/(loss) per share from continuing operations (cents)
  – basic  1 395.6  (1 033.8)    
  – diluted  1 380.5  (1 033.8)    
Loss per share from discontinued operation (cents)
  – basic  (4.7) (202.2)    
  – diluted  (4.7) (202.2)    
* The restatement is due to Motor Retail and Logistics being classified as discontinued operations (Refer to note 36).

 


Statement of Cash Flows

 
R million Notes 2021 
2020  
 
CASH FLOWS FROM OPERATING ACTIVITIES
Cash receipts from customers 53 989  50 747    
Cash paid to employees and suppliers (43 324) (44 867)   
Cash generated from operations before investment in rental fleets and leasing receivables A 10 665  5 880    
Inflow of investment in Leasing receivables 60  65    
Fleet Leasing and equipment rental fleet (445) (673)   
  Additions (2 484) (2 347)   
  Proceeds on disposal 2 039  1 674    
Vehicles rental fleet (1 745) 524    
  Additions (3 785) (2 192)   
  Proceeds on disposal 2 040  2 716    
Cash generated from operations 8 535  5 796    
Finance costs (1 092) (1 274)   
Realised adjustments on financial instruments (114) (223)   
Dividends received from investments, associates and joint ventures 173  20    
Interest received 140  155    
Taxation paid B (1 196) (933)   
Cash inflow from operations 6 446  3 541    
Dividends paid (including non-controlling interest) (657) (1 127)   
Cash retained from operating activities 5 789  2 414    
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of subsidiaries C (5 329) (2 766)   
Proceeds on disposal of subsidiaries D 878  14    
Investments realised 389  367    
Acquisition of intangible assets (51) (84)   
Acquisition of property, plant and equipment (521) (536)   
  Replacement capital expenditure (415) (254)   
  Expansion capital expenditure (106) (282)   
Proceeds on disposal of property, plant and equipment 338  39    
Net cash used in investing activities (4 296) (2 966)   
Net cash inflow/(outflow) before financing activities 1 493  (552)   
CASH FLOWS FROM FINANCING ACTIVITIES
Shares repurchased for equity-settled share-based payments (98) (87)   
Share buy back (79) (1 562)   
Proceeds from long-term borrowings 4 552  2 760    
Repayment of long-term borrowings (1 439) (1 978)   
Movement in short-term interest-bearing liabilities 316  444    
Repayments of lease liabilities (399) (343)   
Net cash received from (used in) financing activities E 2 853  (766)   
Net increase/(decrease) in cash and cash equivalents 4 346  (1 318)   
Cash and cash equivalents at beginning of year 6 743  7 274    
Cash and cash equivalents held for sale at the beginning of year 29    
Effect of foreign exchange rate movement on cash balance (250) 443    
Effect of foreign exchange rate movement on USD denominated cash (187)   
Cash balance held in Escrow 502    
Effect of cash balances classified as held for sale (118)
Cash and cash equivalents at end of year 10 721  6 743    
Cash balances not available for use due to reserving restrictions (note 21) 79  911