INTEGRATED ANNUAL REPORT 2011 GRI RESPONSES  

Investment proposition

Attractive investment case
Clear vision

Market leader – providing integrated solutions in distribution, rental, fleet management, product support and logistics
Service excellence underpins integrated solutions
Strategic focus

Three core divisions – Equipment, Automotive and Logistics, and Handling
Achieving profitable growth and enhancing financial returns
Leading international brands

Caterpillar, Hyster, Avis and leading automotive and agricultural brands
Profitable growth opportunities

Exposure to mining, infrastructure, power, agriculture, automotive, tourism and logistics sectors with above-average long-term growth potential particularly in southern Africa, Russia and other emerging markets
Business and geographic diversity

Operations across various industries in 26 countries as well as business diversity and exposure to mix of commodities, brands and sector opportunities enhances resilience through the business cycle
Strong financial position

Limited reliance on short-term funding facilities
Gearing levels within target ranges, reducing net debt levels with strong operational cash flows and significant unutilised borrowing facilities
Fitch credit rating maintained at investment grade A+
Experienced management team

Proven ability to execute strategies with effective cash flow, capex, working capital and expense management focus
Capable and adaptable Barloworld people at all levels
Responsible corporate citizenship

Broad stakeholder-based approach to governance and sustainable development
Significant investment in skills development and training programmes