Financial & operational data

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

Statement of Financial Position

              
R million 
Notes 
2023   2022     
ASSETS             
Non-current assets    17 633  16 840    
Property, plant and equipment  8 017  7 555     
Investment property  1 187  932    
Right-of-use assets  10  515  359    
Goodwill  11  2 094  2 138    
Intangible assets  12  2 049  2 080     
Investment in associates and joint ventures  13  2 835  2 424    
Long-term trade and other receivables  14  52  16    
Long-term financial assets  15  391  178    
Deferred taxation assets  16  493  1 158     
Current assets    30 432   25 849     
Inventories  17  13 130  8 595    
Trade and other receivables  18  5 877  7 027     
Contract assets  19  814  786    
Taxation     200  242    
Cash and cash equivalents  20  10 411   9 199     
Assets classified as held for sale  21  57 11 717     
Total assets    48 122   54 406     
EQUITY AND LIABILITIES          
Capital and reserves          
Share capital and premium  22  (2 212) (2 212)   
Other reserves    6 965  6 517    
Retained income    11 804  14 614    
Interest of shareholders of Barloworld Limited    16 557  18 919    
Non-controlling interest    262  262    
Interest of all shareholders    16 819  19 181    
Non-current liabilities    8 922  10 776    
Interest-bearing liabilities  23  7 184  8 641    
Deferred taxation liabilities  16  1 049  1 042    
Lease liabilities  26  521  416    
Provisions and other accruals  24  154  177    
Other non-current liabilities  25  14  500    
Current liabilities    22 381  16 475    
Trade and other payables  27  15 535  10 949    
Contract liabilities  28  1 339  1 574    
Lease liabilities  26  247  111    
Provisions and other accruals  24  1 205  719    
Taxation    160  15    
Amounts due to bankers and short-term loans  29  3 895  3 107    
Liabilities directly associated with assets classified as held for sale  21    7 974    
Total equity and liabilities    48 122  54 406    


Income Statement

                  
R million  
Notes  
2023  
2022 
  
   
CONTINUING OPERATIONS                  
Revenue   45 028  39 383     
Operating profit before items listed below      5 697  5 120     
Reversal of impairments on financial assets and contract assets   (62) 35     
Fair value adjustments on financial instruments   (138) (284)    
B-BBEE transaction charge      (82)    
Operating profit before depreciation and amortisation, impairments and capital items, interest and taxation     5 496  4 789     
Depreciation      (989) (963)    
Amortisation of intangible assets      (175) (172)    
Operating profit from core trading activities   4 332  3 654     
Impairments and capital items comprising of:             
Reversal of impairment of property, plant and equipment      33     
Impairment of property, plant and equipment, intangibles and other assets   10,12  (31) (628)    
Impairment of goodwill   11  (53) (217)    
Impairment of indefinite life intangible assets   12     (194)    
Gains on the disposal of property, plant and equipment and other assets   29  47     
Other capital items     2  (59)    
Profit before finance costs and income     4 278  2 636     
Finance costs   (1 601) (1 007)    
Finance income   264  129     
Profit before taxation     2 942  1 758     
Taxation   (1 235) (866)    
Profit after taxation     1 707  892     
Profit from associates and joint ventures   13  325  309     
Profit for the year from continuing operations     2 032  1 201     
DISCONTINUED OPERATIONS        
 
   
Profit from discontinued operations   21  243  851     
Profit for the year      2 275  2 052     
Attributable to:             
Owners of Barloworld Limited      2 222  2 043     
Non-controlling interests in subsidiaries      53     
      2 275  2 052     
Earnings per share group (cents)           
– basic   1 197.0  1 051.9     
– diluted   1 183.1  1 040.7     
Earnings per share from continuing operations (cents)           
– basic   1 067.2  617.2     
– diluted   1054.8  610.6     
Profit per share from discontinued operation (cents)           
– basic   129.8  434.7     
– diluted   128.3  430.1     
* Refer to note 35.


Statement of Cash Flows

              
R million 
Notes 
2023  2022    
CASH FLOWS FROM OPERATING ACTIVITIES          
Cash receipts from customers    49 498  48 286    
Cash paid to employees and suppliers    (41 001) (40 737)   
Cash generated from operations before investment in rental fleets and leasing receivables excluding settlement of financial instruments (derivatives)  A  8 497   7 549    
Inflow of investment in leasing receivables    20  26    
Fleet leasing and equipment rental fleet    (1 127) (1 288)   
    Additions  (2 002) (2 842)   
    Proceeds on disposal  875  1 554    
Vehicles rental fleet    (1 472) (1 739)   
    Additions  (1 709) (3 774)   
    Proceeds on disposal  237  2 035   
Cash generated from operations    5 918  4 548    
Finance costs    (1 658) (1 153)   
Settlement of financial instruments (derivatives)   (479) (177)   
Dividends received from investments, associates and joint ventures       
Finance income  273  157    
Taxation paid  B (741) (1 487)   
Cash inflow from operations  3 316  1 893    
Dividends paid (including non-controlling interest) (1 897) (3 120)   
Cash (used) retained from operating activities  1 419 (1 227)   
CASH FLOWS FROM INVESTING ACTIVITIES          
Proceeds on disposal of subsidiaries  C (322) 109    
Investments realised  96    
Advances to joint ventures  (39) (25)   
Acquisition of intangible assets  (115) (47)   
Goodwill paid for licencee  (2)     
Proceeds on realisation of right of use assets  62    
Acquisition of property, plant and equipment  (651) (557)   
    Replacement capital expenditure  (419) (270)   
    Expansion capital expenditure  (232) (287)   
Proceeds on disposal of property, plant and equipment  99  208    
Net cash used in investing activities  (1 028) (154)   
Net cash inflow/(outflow) before financing activities  389  (1 381)   
CASH FLOWS FROM FINANCING ACTIVITIES             
Shares repurchased for equity-settled share-based payments    (113) (80)   
Share buy back  (1 012)   
Proceeds from long-term borrowings                            1 219  5 337    
Repayment of long-term borrowings                           (2 361) (3 573)   
Movement in short-term interest-bearing liabilities                      1 795  (823)   
Repayments of lease liabilities                              (262) (354)   
Net cash (used in)/received from financing activities  W 278  (505)   
Net (decrease)/increase in cash and cash equivalents                 667  (1 886)   
Cash and cash equivalents at beginning of year                   9 200  10 721    
Cash and cash equivalents held for sale at the beginning of year              310  118    
Effect of foreign exchange rate movement on cash balance                234  557    
Effect of cash balances classified as held for sale                     (310)   
Cash and cash equivalents at end of year                       10 411  9 200    
Cash balances not available for use due to reserving restrictions (note 20)   138  145