Key financial information

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

Statement of Financial Position

    Notes   2020  
Rm 
 
Restated*
2019  
Rm
  
   
ASSETS                   
Non-current assets       20 470   19 206      
Property, plant and equipment   10   12 239   12 062      
Right-of-use assets   11   1 611          
Goodwill   12   1 352   1 700      
Intangible assets   13   1 632   1 558      
Investment in associates and joint ventures   14   2 148   2 253      
Finance lease receivables   15   187   157      
Long-term financial assets   16   287   710      
Deferred taxation assets   17   1 014   766      
Current assets       27 379   27 855      
Vehicle rental fleet   10   1 889   3 137      
Inventories   18   10 170   8 328      
Trade and other receivables   19   7 916   8 052      
Contract assets   20   514   981      
Taxation       147   83      
Cash and cash equivalents   21   6 743   7 274      
Assets classified as held for sale   22   29   327      
Total assets       47 878   47 388      
EQUITY AND LIABILITIES                   
Capital and reserves                  
Share capital and premium   23   (1 121)  441      
Other reserves       5 856   4 523      
Retained income       14 769   18 659      
Interest of shareholders of Barloworld Limited       19 504   23 623      
Non-controlling interest       246   272      
Interest of all shareholders       19 750   23 895      
Non-current liabilities       11 251   7 930      
Interest-bearing   24   5 897   4 621      
Deferred taxation liabilities   17   806   572      
Lease liabilities   27   1 977          
Provisions and other accruals   25   129   123      
Contract liabilities   29   436   367      
Other non-current liabilities   26   2 006   2 247      
Current liabilities       16 877   15 485      
Trade and other payables   28   11 096   10 179      
Contract liabilities   29   1 272   870      
Lease liabilities   27   351          
Provisions and other accruals   25   622   601      
Taxation       38   87      
Amounts due to bankers and short-term loans   30   3 498   3 748      
Liabilities directly associated with assets classified as held for sale   22       78      
Total equity and liabilities       47 878   47 388      

 


Income Statement

   Notes   2020 
Rm 
 
Restated*
2019  
Rm 
 
CONTINUING OPERATIONS         
Revenue  49 683  60 206  
Operating profit before items listed below     5 122  6 547  
Impairment losses on financial assets and contract assets  (292) (75) 
Depreciation     (2 661) (2 387) 
Amortisation of intangible assets     (136) (115) 
Operating profit before B-BBEE transaction charge     2 033  3 970  
B-BBEE transaction charge  3.1  (236) (73) 
Operating profit  1 797  3 897  
Fair value adjustments on financial instruments  (340) 22  
Finance costs  (1 274) (1 134) 
Income from investments  155  203  
Profit before non-operating and capital items     338  2 988  
Non-operating and capital items comprising of:          
Impairment of investments  14  (194) (25) 
Impairment of goodwill  12  (702)   
Impairment of indefinite life intangible assets  13  (708)   
Impairment of property, plant and equipment, intangibles and other assets  10,11  (303) (127) 
Fair value gain on initial recognition of associate  14     212  
Other non-operating and capital items  7  15  
(Loss)/profit before taxation     (1 562) 3 063  
Taxation  (889) (850) 
(Loss)/profit after taxation     (2 451) 2 213  
(Loss)/income from associates and joint ventures  14  (48) 231  
(Loss)/profit for the year from continuing operations     (2 499) 2 444  
DISCONTINUED OPERATIONS           
Profit from discontinued operations  22     33  
(Loss)/profit for the year     (2 499) 2 477  
           
Attributable to:          
Owners of Barloworld Limited     (2 476) 2 428  
Non-controlling interests in subsidiaries     (23) 49 
      (2 499) 2 477  
(Loss)/earnings per share from Group (cents)         
– basic  (1 236.0) 1 150.2  
– diluted  (1 236.0) 1 146.9  
(Loss)/earnings per share from continuing operations (cents)         
– basic  (1 236.0) 1 134.6  
– diluted  (1 236.0) 1 131.3  
Earnings per share from discontinued operation (cents)         
– basic     15.6  
– diluted     15.6  

 


Statement of Cash Flows

CASH FLOWS FROM OPERATING ACTIVITIES   Notes    2020  
Rm
  
Restated*
2019  
Rm
  
  
Cash receipts from customers     50 747  60 450    
Cash paid to employees and suppliers     (44 867)   (53 211)    
Cash generated from operations before investment in rental fleets and leasing receivables  5 880  7 239    
Inflow of investment in leasing receivables     65  161    
Fleet leasing and equipment rental fleet     (673)  (1 118)    
   Additions     (2 347)  (2 940)    
   Proceeds on disposal     1 674  1 822    
Vehicles rental fleet     524  (809)    
   Additions     (2 192)  (3 546)    
   Proceeds on disposal     2 716  2 737    
 
Cash generated from operations     5 796  5 473    
Finance costs^     (1 274)  (1 134)    
Realised adjustments on financial instruments     (223)  (130)    
Dividends received from investments, associates and joint ventures     20  72    
Interest received     155  204    
Taxation paid  (933)  (774)    
Cash inflow from operations     3 541  3 711    
Dividends paid (including non-controlling interest)     (1 127)  (1 057)    
Cash retained from operating activities     2 414  2 654    
CASH FLOWS FROM INVESTING ACTIVITIES              
Acquisition of subsidiaries  (2 766)  (5)    
Proceeds on disposal of subsidiaries  14  (84)    
Investments realised     367  114    
Acquisition of intangible assets     (84)  (163)    
Proceeds on disposal of intangible assets          
Acquisition of property, plant and equipment     (536)  (633)    
   Replacement capital expenditure     (254)  (154)    
   Expansion capital expenditure     (282)  (479)    
Proceeds on disposal of property, plant and equipment     39  119    
Net cash used in investing activities    

(2 966) 

 

(647)