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Trading Statement
Barloworld Limited
(Incorporated in the Republic of South Africa)
(Registration number 1918/000095/06)
(Share code: BAW)
(ISIN: ZAE000026639)
(Bond issuer code: BIBAW)
("Barloworld or the Company")
TRADING STATEMENT
Good trading results were achieved in the second half and the group has delivered a strong
performance for the 2012 financial year. Headline earnings per share are expected to be
40% to 50% higher than the 465 cents reported in financial year 2011.
Equipment southern Africa delivered record sales of large mining equipment to customers,
contributing to solid growth in operating profit. The Russian Equipment business continued
to build on last year’s high base, delivering another excellent result. Trading conditions in
Equipment Iberia, however, remain very difficult.
Automotive and Logistics produced a very good result in a competitive trading environment
with motor retail, car rental, fleet services and logistics all producing results well ahead of
last year.
The Handling division recorded lower profits owing to difficult trading conditions in certain
regions. The USA and UK businesses were sold in April and September 2012 respectively.
Finance costs were up on the prior year due to higher activity levels and we had a very
strong performance from our joint ventures, particularly Congo Equipment in the DRC.
The acquisition of the Bucyrus distribution assets in southern Africa effective July 2012 did
not have a material impact on revenue or profit this year.
Basic earnings per share are expected to be 48% to 58% higher than the 483 cents
reported in financial year 2011. Exceptional profits on the disposals of the Handling assets,
including realisation of currency translation reserves, resulted in net exceptional gains which
boosted basic earnings per share for the year.
Cash utilised for working capital reduced in line with our expectations in the second half of
this year, and the net cash outflow and net interest-bearing debt, improved from the levels
reported at March 2012. This was achieved notwithstanding the R1.4 billion incurred on
acquiring the Bucyrus distribution assets in southern Africa.
This financial information has not been reviewed or reported on by Barloworld’s auditors.
Barloworld Limited expects to announce its results for the year to 30 September 2012 on 19
November 2012.
Sandton Sponsor:
7 November 2012 J.P. Morgan Equities Ltd.
Enquiries: Barloworld Limited: Jacey de Gidts,
Tel +27 11 445 1000
E-mail invest@barloworld.com
College Hill: Jacques de Bie, Tel +27 11 447 3030
E-mail Jacques.deBie@collegehill.co.za
For background information visit www.barloworld.com
Date: 07/11/2012 10:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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