Financial & operational data

Key financial information Salient Features
Key financial information
  • 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    



Salient Features