Key financial information

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

Statement of Financial Position

  2018
Rm
2017
Rm
ASSETS    
Non-current assets 19 231 18 613
Property, plant and equipment 12 657 12 659
Goodwill 1 873 1 932
Intangible assets 1 528 1 602
Investment in associates and joint ventures 1 343 1 093
Finance lease receivables 211 240
Long-term financial assets 909 404
Deferred taxation assets 710 683
Current assets 29 531 24 368
Vehicle rental fleet 3 058 3 222
Inventories 9 592 8 457
Trade and other receivables 8 883 8 676
Taxation 105 88
Cash and cash equivalents 7 893 3 925
Assets classified as held for sale 497 3 343
Total assets 49 259 46 324
EQUITY AND LIABILITIES    
Capital and reserves    
Share capital and premium 441 441
Other reserves 4 194 5 144
Retained income 17 598 14 690
Interest of shareholders of Barloworld Limited 22 233 20 275
Non-controlling interest 517 602
Interest of all shareholders 22 750 20 877
Non-current liabilities 8 917 10 852
Interest-bearing 5 995 7 623
Deferred taxation liabilities 632 538
Provisions 47 19
Other non-current liabilities 2 243 2 672
Current liabilities 17 466 13 798
Trade and other payables 11 122 10 697
Provisions 1 100 929
Taxation 70 117
Amounts due to bankers and short-term loans 5 174 2 055
Liabilities directly associated with assets classified as held for sale 126 797
Total equity and liabilities 49 259 46 324

Income Statement

  2018
Rm
2017
Rm
CONTINUING OPERATIONS    
Revenue 63 420 61 959
Operating profit before items listed below (EBITDA) 6 978 6 694
Depreciation (2 433) (2 468)
Amortisation of intangible assets (141) (144)
Operating profit 4 404 4 082
Fair value adjustments on financial instruments (133) (209)
Finance costs (1 182) (1 329)
Income from investments 147 109
Profit before non-operating and capital items 3 236 2 653
Non-operating and capital items (248) (155)
Profit before taxation 2 988 2 498
Taxation (950) (565)
Profit after taxation 2 038 1 933
Income from associates and joint ventures 235 93
Profit for the year from continuing operations 2 273 2 026
DISCONTINUED OPERATION    
(Loss)/profit from discontinued operation 1 647 (269)
Profit for the year 3 920 1 757
Attributable to:    
Owners of Barloworld Limited 3 846 1 643
Non-controlling interests in subsidiaries 74 114
  3 920 1 757
Earnings per share from group (cents)    
– basic 1 823.8 779.6
– diluted 1 812.9 774.7
Earnings per share from continuing operations (cents)    
– basic 1 042.8 907.2
– diluted 1 036.5 901.5
(Loss)/earnings per share from discontinued operation (cents)    
– basic 781.0 (127.6)
– diluted 776.4 (126.8)

Statement of Cash Flows

  2018
Rm
2017
Rm
CASH FLOWS FROM OPERATING ACTIVITIES    
Cash receipts from customers 65 334 65 536
Cash paid to employees and suppliers (59 288) (56 690)
Cash generated from operations before investment in leasing and rental fleet 6 046 8 846
Fleet leasing and equipment rental fleet (1 593) (1 661)
   Additions (3 305) (3 550)
   Proceeds on disposal 1 713 1 889
Vehicles rental fleet (631) (1 220)
   Additions (3 921) (4 373)
   Proceeds on disposal 3 290 3 153
Cash generated from operations 5 965 7 827
Finance costs (1 184) (1 338)
Realised fair value adjustments on financial instruments (140) (270)
Dividends received from investments, associates and joint ventures 113 13
Interest received 148 108
Taxation paid (1 058) (744)
Cash inflow from operations 1 700 3 734
Dividends paid (including non-controlling interest) (953) (803)
Cash retained from operating activities 747 2 931
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisition of subsidiaries, investments and intangibles (86) (393)
Proceeds on disposal of subsidiaries, investments and intangibles 2 342 379
Movements in investments in leasing receivables (53) (134)
Acquisition of other property, plant and equipment (618) (774)
   Replacement capital expenditure (244) (315)
   Expansion capital expenditure (374) (458)
Proceeds on disposal of property, plant and equipment 306 593
Net cash used in investing activities 1 891 (329)
Net cash inflow before financing activities 2 638 2 602
Shares repurchased for equity-settled share-based payments (43) (154)
Purchase of non-controlling interest (257) (201)
Non-controlling interest loan and equity movements   4
Proceeds from long-term borrowings 2 956 4 260
Repayment of long-term borrowings 3 322 5 005
Movement in short-term interest-bearing liabilities 1 746 (546)
Net cash from/(used in) financing activities 1 080 (1 642)
Net increase in cash and cash equivalents 3 718 960
Cash and cash equivalents at beginning of year 3 925 3 028
Cash and cash equivalents held for sale at beginning of year 102  
Effect of foreign exchange rate movement on cash balance 167 39
Effect of cash balances classified as held for sale (19) (102)
Cash and cash equivalents at end of year 7 893 3 925
Cash balances not available for use due to reserving restrictions 178 444