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 2024 2023  
           
ASSETS          
Non-current assets     17 702 17 633  
Property, plant and equipment   9 8 567 8 017  
Investment property   9 1 158 1 187  
Right of use assets   10 431 515  
Goodwill   11 1 971 2 094  
Intangible assets   12 1 934 2 049  
Investment in associates and joint ventures   13 2 904 2 835  
Long-term trade and other receivables   14 15 52  
Long-term financial and other assets   15 416 391  
Deferred taxation asset   16 306 493  
Current assets     23 458 30 432  
Inventories   17 10 193 13 130  
Trade and other receivables   18 5 922 5 877  
Contract assets   19 810 814  
Current taxation receivable     70 200  
Cash and cash equivalents   20 6 463 10 411  
Assets classified as held for sale   21 38 57  
Total assets     41 198 48 122  
EQUITY AND LIABILITIES          
Capital and reserves          
Share capital and premium   22 (2 212) (2 212)  
Other reserves     6 000 6 965  
Retained income     12 571 11 804  
Interest of shareholders of Barloworld Limited     16 359 16 557  
Non-controlling interest     312 262  
Interest of all shareholders     16 671 16 819  
Non-current liabilities     6 308 8 922  
Interest-bearing liabilities   23 4 834 7 184  
Deferred taxation liabilities   16 955 1 049  
Lease liabilities   26 395 521  
Provisions and accruals   24 124 154  
Other non-current liabilities   25   14  
Current liabilities     18 219 22 381  
Trade and other payables   27 13 167 15 535  
Contract liabilities   28 752 1 339  
Lease liabilities   26 242 247  
Provisions and accruals   24 853 1 205  
Current taxation payable     171 160  
Amounts due to bankers and short-term loans   29 3 034 3 895  
Total equity and liabilities     41 198 48 122  


Income Statement

                    
R million     Notes   2024    2023        
CONTINUING OPERATIONS                    
Revenue     2  41 908  45 028     
Operating profit before items listed below        5 383  5 697     
Reversal of impairments on financial assets and contract assets     3  56  (62)    
Fair value adjustments on financial instruments     4  (329) (138)    
Operating profit before depreciation and amortisation, impairments and capital items, interest and taxation       5 110  5 496     
Depreciation        (1 158) (989)    
Amortisation of intangible assets        (165) (175)    
Operating profit from core trading activities     3  3 787  4 332     
Impairments and capital items comprising of:               
Impairment of property, plant and equipment, intangibles and other assets     10,12  (32) (31)    
Impairment of goodwill     11  (92) (53)    
Profit on disposal of investments       71        
Gains on the disposal of property, plant and equipment and other assets     9  30  29     
Other capital items       4  2     
Profit before finance costs and income       3 768  4 278     
Finance costs     5  (1 542) (1 601)    
Finance income     6  276  264     
Profit before taxation       2 502  2 942     
Taxation     7  (825) (1 235)    
Profit after taxation       1 677  1 707     
Profit from associates and joint ventures     13  275  325     
Profit for the year from continuing operations       1 952  2 032     
DISCONTINUED OPERATIONS          
 		    
Profit from discontinued operations     21    243     
Profit for the year        1 952  2 275     
Attributable to:               
Owners of Barloworld Limited        1 900  2 222     
Non-controlling interests in subsidiaries        52  53     
        1 952  2 275     
Earnings per share group (cents)             
    – basic     8  1 022.2  1 197.0     
    – diluted     8  1 011.7  1 183.1     
Earnings per share from continuing operations (cents)             
    – basic     8  1 022.2  1 067.2     
    – diluted     8  1 011.7  1054.8     
Profit per share from discontinued operation (cents)             
    – basic     8    129.8     
    – diluted     8    128.3     
^ Items of income/expense included in non-operating and capital items are consistent with items that are ‘out of’ (excluded from) headline earnings per share (HEPS) in accordance with the JSE Listings Requirements and guidance published by the South African Institute of Chartered Accountants relating to HEPS.


Statement of Cash Flows

                
R million    Notes  2024   2023     
CASH FLOWS FROM OPERATING ACTIVITIES            
Cash receipts from customers      41 364   49 498    
Cash paid to employees and suppliers      (36 642) (41 001)   
Cash generated from operations before investment in rental fleets and leasing receivables excluding settlement of financial instruments (derivatives)    A 4 722    8 497    
Inflow of investment in leasing receivables      28  20    
Fleet leasing and equipment rental fleet      (1 064) (1 127)   
    Additions  (1 865) (2 002)   
    Proceeds on disposal  801  875    
Vehicles rental fleet        (1 472)   
    Additions    (1 709)   
    Proceeds on disposal    237    
Cash generated from operations      3 686  5 918    
Finance costs      (1 467) (1 658)   
Settlement of financial instruments (derivatives)     (624) (479)   
Dividends received from investments, associates and joint ventures       153  3    
Finance income  275  273    
Taxation paid    B (715) (741)   
Cash inflow from operations  1 308  3 316    
Dividends paid (including non-controlling interest) (935) (1 897)   
Cash (used) retained from operating activities  373 1 419   
CASH FLOWS FROM INVESTING ACTIVITIES            
Proceeds on disposal of subsidiaries    C   (322)   
Investments realised  101    
Advances to joint ventures  (124) (39)   
Acquisition of intangible assets  (124) (115)   
Goodwill paid for licencee    (2)   
Acquisition of property, plant and equipment  (597) (651)   
    Replacement capital expenditure  (239) (419)   
    Expansion capital expenditure  (358) (232)   
Proceeds on disposal of property, plant and equipment  98  99    
Net cash used in investing activities  (646) (1 028)   
Net cash inflow/(outflow) before financing activities  (273) 389    
CASH FLOWS FROM FINANCING ACTIVITIES               
Shares repurchased for equity-settled share-based payments      (172) (113)   
Proceeds from long-term borrowings                              1 147  1 219    
Repayment of long-term borrowings                             (3 377) (2 361)   
Movement in short-term interest-bearing liabilities                        (875) 1 795    
Repayments of lease liabilities                              (273) (262)   
Net cash (used in)/received from financing activities    D (3 550) 278    
Net (decrease)/increase in cash and cash equivalents                 (3 823) 667    
Cash and cash equivalents at beginning of year                   10 411  9 200    
Cash and cash equivalents held for sale at the beginning of year                310    
Effect of foreign exchange rate movement on cash balance                (125) 234    
Cash and cash equivalents at end of year                       6 463  10 411    
Cash balances not available for use due to reserving restrictions (note 20)   1 738  138    



Salient Features