INTEGRATED ANNUAL REPORT 2011 GRI RESPONSES  

7 year summary

  Compund
annual growth
2011
Rm
2010†
Rm
2009^†
Rm
2008^†
Rm
2007*†
Rm
2006*†
Rm
2005*†
Rm
 
Statement of financial position                  
Assets                  
Property, plant and equipment   8 743 7 575 7 854 8 056 6 847 8 299 7 922  
Goodwill and intangible assets   2 513 2 375 2 599 2 626 2 320 3 328 2 745  
Investments in associates and joint ventures                  
and other non-current assets   762 921 1 473 2 099 2 233 1 912 2 668  
Deferred taxation assets   649 755 656 488 619 750 823  
Non-current assets   12 667 11 626 12 582 13 269 12 019 14 289 14 158  
Current assets   18 252 14 012 15 155 17 812 18 636 21 365 14 465  
Assets classified as held for sale   13 52 2 358 2 876        
Total assets   30 932 25 690 30 095 33 957 30 655 35 654 28 623  
Equity and liabilities                  
Capital and reserves                  
Share capital and premium   304 295 252 242 223 327 1 397  
Reserves and retained income   12 085 10 298 11 601 12 606 10 918 13 342 10 089  
Interest of shareholders of Barloworld Limited   12 389 10 593 11 853 12 848 11 141 13 669 11 486  
Non-controlling interest   263 233 217 185 80 691 644  
Interest of all shareholders   12 652 10 826 12 070 13 033 11 221 14 360 12 130  
Non-current liabilities   7 279 5 670 6 486 6 252 6 638 7 920 7 761  
Deferred taxation liabilities   229 302 249 266 610 870 905  
Non-current liabilities   7 050 5 368 6 237 5 986 6 028 7 050 6 856  
Current liabilities   10 996 9 136 10 030 12 676 12 796 13 374 8 732  
Liabilities directly associated with assets classified as held for sale   5 58 1 509 1 996        
Total equity and liabilities   30 932 25 690 30 095 33 957 30 655 35 654 28 623  
Reclassification of interest paid in the leasing business from cost of sales to finance costs
^ Restated for the treatment of IAS 7 and IAS 16
* Not restated for accounting policy changes due to practical constraints
# All years have been reclassified for the treatment of the car rental Scandinavia, Cement, Scientific, Coatings and Steel Tube segments as discontinued operations

  Compund
annual growth
2011
Rm
2010†
Rm
2009^†
Rm
2008^†
Rm
2007*†
Rm
2006*†
Rm
2005*†
Rm
 
Income statement# +                  
Continuing operations                  
Revenue 9.3% 49 823 40 830 45 269 50 107 39 757 32 452 29 211  
Operating profit before items listed below (EBITDA) 14.8% 3 993 3 318 4 061 4 689 2 411 1 991 1 748  
Depreciation   (1 620) (1 736) (1 854) (1 833)        
Amortisation of intangible assets   (84) (64) (61) (52)        
Operating profit 4.6% 2 289 1 518 2 146 2 804 2 411 1 991 1 748  
Fair value adjustments on financial instruments   (65) (89) (201) (80) 295 224 (50)  
Finance costs 6.8% (755) (809) (1 090) (1 042) (765) (619) (509)  
Income from investments   62 84 149 195 164 139 101  
Profit before exceptional items 2.9% 1 531 704 1 004 1 877 2 105 1 735 1 290  
Exceptional items   62 (176) 22 (17) (74) 116 (20)  
Profit before taxation   1 593 528 1 026 1 860 2 031 1 851 1 270  
Taxation   (584) (228) (248) (675) (697) (556) (364)  
Profit after taxation   1 009 300 778 1 185 1 334 1 295 906  
Income from associates and joint ventures   71 16 43 72 53 54 31  
Net profit from continuing operations   1 080 316 821 1 257 1 387 1 349 937  
Discontinued operations                  
(Loss)/profit from discontinued operations     (272) (82) (11) 1 172 1 397 1 226  
Net profit   1 080 44 739 1 246 2 559 2 746 2 163  
Attributable to:                  
Non-controlling interests in subsidiaries   63 51 68 14 289 389 314  
Owners of Barloworld Limited   1 017 (7) 671 1 232 2 270 2 357 1 849  
    1 080 44 739 1 246 2 559 2 746 2 163  
Headline earnings from continuing operations (2.6%) 979 443 731 1 259 1 362 1 233 1 148  
Reclassification of interest paid in the leasing business from cost of sales to finance costs
^ Restated for the treatment of IAS 7 and IAS 16
* Not restated for accounting policy changes due to practical constraints
# All years have been reclassified for the treatment of the car rental Scandinavia, Cement, Scientific, Coatings and Steel Tube segments as discontinued operations

  Compund
annual growth
2011
Rm
2010†
Rm
2009^†
Rm
2008^†
Rm
2007*†
Rm
2006*†
Rm
2005*†
Rm
 
Statement of cash flows                  
Cash flow from operations   1 915 2 565 2 284 90 3 888 4 931 3 576  
Dividends paid (including non-controlling interest)   (257) (223) (434) (622) (2 629) (1 295) (1 197)  
Net cash flow from operating activities   1 658 2 342 1 850 (532) 1 259 3 636 2 379  
Net cash flow used in investing activities   (712) (56) (643) (715) (880) (2 938) (2 980)  
Net cash flow (used in)/from financing activities   (178) (1 791) (647) 1 347 (988) (224) 601  
Net increase/(decrease) in cash and cash equivalents   768 495 560 100 (609) 474    
Reclassification of interest paid in the leasing business from cost of sales to finance costs
^ Restated for the treatment of IAS 7 and IAS 16
* Not restated for accounting policy changes due to practical constraints
# All years have been reclassified for the treatment of the car rental Scandinavia, Cement, Scientific, Coatings and Steel Tube segments as discontinued operations

Performance per ordinary share
Profitability and asset management^
Liquidity and leverage
Value added
Ordinary shares performance – JSE

  US dollar Pound sterling Euro
  2011
$m
2010*
$m
2009*
$m
2011
£m
2010*
£m
2009*
£m
2011
€m
2010*
€m
2009*
€m
Statement of financial position                  
Assets                  
Property, plant and equipment 1 088 1 086 1 037 698 689 648 811 796 709
Goodwill and intangible assets 313 341 343 201 216 214 233 249 235
Investment in associates and joint ventures and other non-current assets 95 132 194 61 84 122 71 97 133
Deferred taxation assets 81 108 87 52 69 54 60 79 59
Non-current assets 1 577 1 667 1 661 1 012 1 058 1 038 1 175 1 221 1 136
Current assets 2 270 2 009 2 000 1458 1 275 1 250 1 692 1 473 1 368
Assets classified as held for sale 2 7 311 1 5 195 1 5 214
Total assets 3 849 3 683 3 972 2 471 2 338 2 483 2 868 2 699 2 718
Equity and liabilities                  
Capital and reserves                  
Share capital and premium 38 42 33 24 27 21 28 31 23
Reserves and retained income 1 216 1 298 1 245 781 824 778 907 951 852
Non-distributable reserves – foreign currency translation 288 179 286 185 113 179 214 131 196
Interest of shareholders of Barloworld Limited 1 542 1 519 1 564 990 964 978 1 149 1 113 1 071
Non-controlling interest 33 33 29 21 21 18 24 24 20
Interest of all shareholders 1 575 1 552 1 593 1 011 985 996 1 173 1 137 1 091
Non-current liabilities 905 813 856 581 515 535 675 596 585
Deferred taxation liabilities 28 43 33 18 27 20 21 32 22
Non-current liabilities 877 770 823 563 488 515 654 564 563
Current liabilities 1 368 1 310 1 324 878 833 827 1 020 960 906
Liabilities directly associated with assets classified as held for sale 1 8 199 1 5 125   6 136
Total equity and liabilities 3 849 3 683 3 972 2 471 2 338 2 483 2 868 2 699 2 718
* Reclassification of interest paid in the leasing business from cost of sales to finance costs
# These schedules are provided for convenience purposes only. The presentation currency used for the financial statements and notes is South African rand

  US dollar Pound sterling Euro
  2011
$m
2010*
$m
2009*
$m
2011
£m
2010*
£m
2009*
£m
2011
€m
2010*
€m
2009*
€m
Income statement                  
Continuing operations                  
Revenue 7 210 5 454 5 092 4 480 3 497 3 299 5 152 4 018 3 782
Operating profit before items listed below (EBITDA) 578 443 457 359 284 297 413 327 338
Depreciation (234) (232) (209) (146) (149) (135) (168) (171) (155)
Amortisation of intangible assets (12) (9) (7) (8) (5) (5) (9) (6) (4)
Operating profit 332 202 241 205 130 157 236 150 179
Fair value adjustments on financial instruments (9) (12) (23) (6) (8) (15) (7) (9) (17)
Finance costs (109) (108) (123) (68) (69) (79) (78) (80) (91)
Income from investments 9 11 17 6 7 11 6 8 12
Profit before exceptional items 223 93 112 137 60 74 157 69 83
Exceptional items 9 (24) 2 6 (15) 2 6 (17) 2
Profit before taxation 232 69 114 143 45 76 163 52 85
Taxation (82) (27) (23) (51) (17) (15) (59) (20) (17)
Secondary taxation on companies (3) (3) (5) (2) (2) (3) (2) (2) (3)
Profit after taxation 147 39 86 90 26 58 102 30 65
Income from associates and joint ventures 10 2 5 6 1 3 7 2 4
Net profit from continuing operations 157 41 91 96 27 61 109 32 69
Discontinued operations                  
Loss from discontinued operations   (36) (9)   (23) (6)   (27) (7)
Net profit 157 5 82 96 4 55 109 5 62
Attributable to:                  
Non-controlling interests in subsidiaries 9 7 8 6 4 5 7 5 6
flowners of Barlfloworld Limited 148 (2) 74 90   50 102   56
  157 5 82 96 4 55 109 5 62
Headline earnings from continuing operations 142 59 82 88 38 53 101 44 61
Earnings per share from continuing operations (cents) 69.8 16.9 40.6 43.4 10.8 26.3 49.9 12.4 30.2
Headline earnings per share from continuing operations (cents) 67.2 28.3 39.4 41.8 18.1 25.6 48.0 20.8 29.3
Ordinary dividends per share (cents) 22.4 10.0 12.4 13.9 6.4 8.0 16.0 7.4 9.2
* Reclassification of interest paid in the leasing business from cost of sales to finance costs
# These schedules are provided for convenience purposes only. The presentation currency used for the financial statements and notes is South African rand

  US dollar Pound sterling Euro
  2011
$m
2010*
$m
2009*
$m
2011
£m
2010*
£m
2009*
£m
2011
€m
2010*
€m
2009*
€m
Statement of cash flows                  
Cash flow from operations 277 343 257 172 220 166 198 252 191
Dividends paid (including non-controlling interest) (37) (30) (49) (23) (19) (32) (27) (22) (36)
Net cash flow from/(used in) operating activities 240 313 208 149 201 134 171 230 155
Net cash used in investing activities (103) (8) (72) (64) (5) (46) (74) (6) (54)
Net cash flow (used in)/from financing activities (26) (239) (73) (16) (153) (47) (18) (176) (54)
Net increase in cash and cash/equivalents 111 66 63 69 43 41 79 48 47
Exchange rates used:                  
Balance sheet – closing rate (rand) 8.04 6.97 7.58 12.52 10.99 12.12 10.79 9.52 11.08
Income statement and cash flow statement – average rate (rand) 6.91 7.49 8.89 11.12 11.68 13.72 9.67 10.16 11.97
* Reclassification of interest paid in the leasing business from cost of sales to finance costs
# These schedules are provided for convenience purposes only. The presentation currency used for the financial statements and notes is South African rand