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BARLOWORLD LIMITED - Trading Statement

Release Date: 08/05/2013 17:00
Code(s): BAW BAWP     PDF:  
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Trading Statement

Barloworld Limited
(Incorporated in the Republic of South Africa)
(Registration number 1918/000095/06)
(Share code: BAW)
(JSE ISIN: ZAE000026639)
(Share code: BAWP)
(JSE ISIN: ZAE000026647)
(Bond issuer code: BIBAW)
("Barloworld” or “the Company")


TRADING STATEMENT

The group has continued its strong performance for the first six months to
31 March 2013, with headline earnings per share (HEPS) expected to be 25%
to 35% higher than the comparable earnings of last year.

Revenue in Equipment southern Africa was ahead of the prior period due to
the newly acquired Bucyrus business while operating margins were down in
line with expectations. Russia continued positively on the back of demand
in the mining sector. In Iberia, notwithstanding difficult trading
conditions, the operating result to March shows a substantial turnaround as
no restructuring was effected during the period. The Handling operation
continued its year on year trading improvement.

The Automotive and Logistics division performed well with all business
units improving their result on the prior period.

The net finance charge has risen as a result of higher net interest bearing
debt in the first half as increased trading activity in most of our regions
has led to higher working capital. We benefitted from fair value gains on
financial instruments due to rand weakness in the period.

Basic earnings per share are expected to be 45% to 55% higher than last
year’s comparable earnings, which is higher than the growth in HEPS, due
mainly to exceptional losses in the prior year.

During the period, we extended the maturity profile of the R1 billion
Bucyrus funding facility into 2015. Fitch Ratings re-affirmed the company’s
credit rating as AA- (Stable Outlook) following the formal credit review in
February 2013.

Barloworld Limited expects to announce its results for the six months to
31 March 2013 on 20 May 2013.

This financial information   has     not   been   reviewed   or   reported   on   by
Barloworld’s auditors.

Sandton
08 May 2013


Sponsor:
J.P. Morgan Equities SA (Pty) Ltd.


About Barloworld

Barloworld is a distributor of leading international brands providing
integrated rental, fleet management, product support and logistics
solutions. The core divisions of the group comprise Equipment (earthmoving
and power systems), Automotive and Logistics (car rental, motor retail,
fleet services, used vehicles and disposal solutions, logistics management
and supply chain optimisation) and Handling (materials handling and
agriculture). We offer flexible, value adding, integrated business
solutions to our customers backed by leading global brands. The brands we
represent on behalf of our principals include Caterpillar, Hyster, Avis,
Audi, BMW, Ford, General Motors, Mercedes-Benz, Toyota, Volkswagen and
others.

Barloworld has a proven track record of long-term relationships with global
principals and customers. We have an ability to develop and grow businesses
in multiple geographies including challenging territories with high growth
prospects. One of our core competencies is an ability to leverage systems
and best practices across our chosen business segments. As an organisation
we are committed to sustainable development and playing a leading role in
empowerment and transformation. The company was founded in 1902 and
currently has operations in 26 countries around the world with
approximately 60% of our eighteen thousand employees in South Africa.


Corporate information
Registered office and business address
Barloworld Limited, 180 Katherine Street
PO Box 782248, Sandton, 2146, South Africa
Tel +27 11 445 1000
Email invest@barloworld.com

Directors
Non-executive: DB Ntsebeza (Chairman), NP Dongwana, AGK Hamilton*,
SS Mkhabela, B Ngonyama, SS Ntsaluba, TH Nyasulu, SB Pfeiffer#

Executive: CB Thomson (Chief Executive), PJ Blackbeard, PJ Bulterman,
M Laubscher, OI Shongwe, DG Wilson

*British #American

Group company secretary: Lerato Manaka
Enquiries: Barloworld Limited: Lethiwe Motloung
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: 08/05/2013 05:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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