Value creation for all stakeholders

Statement of total value added

for the year ended 30 September 2014

Making a world of difference is central to our Value Based Management approach as we strive to create sustainable value.

Number of employees 19 616

Revenue per employee R3.3m Down 1%

Value created per employee R803 474 Up 10%

A measure of the value added by the group through its diverse trading, distribution and other activities to the cost of products and services purchased. This statement shows the total value created and how it was distributed.

	2014		2013*		2012*
	Rm	%	Rm	%	Rm	%
Revenue from continuing operations	62 101		59 498		53 415
Revenue from discontinued operation	2 783		5 508		5 047
Paid to suppliers for products and services	49 389		51 019		46 024
Value added	15 494		13 987		12 438
Income from investments^	297		263		247
Total value created	15 791		14 250		12 686
VALUE DISTRIBUTION
Employees (note 1)	9 103	58	8 605	60	7 685	61
Capital providers	1 856	12	1 630	12	1 317	11
Finance costs	1 125		1 022		874
Dividends to Barloworld Limited shareholders	639		522		393
Dividends to non-controlling interest in subsidiaries	92		86		50
Government (note 2)	1 103	7	952	7	752	6
Communities (corporate social investment)	17		17		17
Reinvested in the group to maintain and develop operations	3 712	23	3 047	21	2 914	23
Depreciation	2 208		1 960		1 806
Retained profit	1 556		1 080		1 320
Deferred taxation	(52)		7		(212)
	15 791	100	14 250	100	12 686	100
VALUE ADDED RATIOS
Number of employees (30 September)	19 616		19 692		19 238
Revenue per employee (Rand)#	3 301 297		3 339 631		3 084 361
Value created per employee (Rand)#	803 474		732 083		669 297
Corporate social investment – % of profit after taxation, excluding exceptional items	1		1		1
Notes
1. EMPLOYEES
Salaries, wages, overtime payments, commissions, bonuses and allowances**	7 673		7 068		6 349
Employer contributions†	1 204		1 071		930
Total continuing operations	8 877		8 140		7 279
Discontinued operation	226		465		406
Total group	9 103		8 605		7 685
2. CENTRAL AND LOCAL GOVERNMENT
Current taxation	947		821		580
Rates and taxes paid to local authorities	59		54		60
Customs duties, import surcharges and excise taxes	49		38		76
Skills development levy	48		39		36
	1 103		952		752

^	Includes interest received, dividend income and share of associate companies’ and joint ventures’ retained profit.
#	Based on average number of employees.
*	Restated for the treatment of IFRS 10, IAS 19 and discontinued operation – refer to note 34.
**	Represents the gross amounts paid to employees including taxes payable by the employees.
†	In respect of pension funds, retirement annuities, provident funds, medical aid and insurance.

EC1 to EC9