BELL EQUIPMENT LIMITED - Unaudited Condensed Consolidated Interim Financial Statements for the six Months ended 30 June 2025

Unaudited Condensed Consolidated Interim Financial Statements for the six Months ended 30 June 2025

BELL EQUIPMENT LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1968/013656/06)
Share code: BEL
ISIN: ZAE000028304
("Bell Equipment" or "the Company")

UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2025

INTRODUCTION

Bell Equipment is a Proudly South African and global company with more than 70 years of experience in the manufacture,
distribution and support of materials handling equipment. Our comprehensive network of Bell branches and independent dealers
supplies equipment solutions, ancillary products and after-sales services to the agriculture, forestry, waste handling,
construction and mining industries worldwide.

The content of this short form announcement is the responsibility of the board of directors of the Company and has not been
audited or reviewed by the Company's auditors.

The unaudited condensed consolidated interim financial statements are available on the Company's website at www.bellir.co.za.

Any investment decisions by investors should be based on a consideration of the full announcement as a whole as the information
in this announcement does not provide all of the details and investors are encouraged to review the full announcement,
which is available for viewing on the Company's website (www.bellir.co.za).

Link to full results https://senspdf.jse.co.za/documents/2025/jse/isse/BEL/Interim25.pdf

FINANCIAL AND OPERATING RESULTS

                                                                           Six months         Six months
                                                                                ended              ended
                                                                         30 June 2025       30 June 2024       % change
                                                                                R'000              R'000
Revenue                                                                     6 104 635          6 379 770             (4)
Profit from operating activities                                              302 804            526 746            (43)
Profit for the interim period                                                 227 888            326 686            (30)
Net cash inflow for the period (restated)                                     487 040            113 174            330
Earnings per share (basic) (cents)                                                225                322            (30)
Headline earnings per share (basic) (cents)                                       248                321            (23)
Net asset value per share (cents)                                               6 167              5 777              7
Dividend per share (cents)                                                          -                  -              -

DIVIDEND CONSIDERATION
Due to the global slowdown in demand in key markets and a contracted USA market due to the current USA tariff situation,
the Board has resolved to preserve cash resources rather than paying a dividend at this time.

A shareholders' presentation is available on the Company's website.

On behalf of the board



Gary Bell                        Ashley Bell
Chairman                         Chief Executive

Richards Bay
5 September 2025

DIRECTORS
Non-executive
GW Bell (Chairman), HR van der Merwe* (Lead Independent),
DH Lawrance*, ME Ramathe*, R Naidu*, U Maharaj*, M Geyer*,
S Fitzpatrick*
*Independent
Appointed: S Fitzpatrick was appointed as independent non-executive director with effect from 1 July 2025.
H Ramsumer was appointed as independent non-executive director with effect from 1 December 2025.

Executive
AJ Bell (Group Chief Executive), SR Jones (Alternate),
KJ van Haght (Group Finance Director), A Goordeen (Alternate)
Appointed: SR Jones was appointed as an alternate executive director with effect from 4 September 2025.

Company Secretary
D McIlrath

Registered Office
13 - 19 Carbonode Cell Road, Alton, Richards Bay, 3900

Transfer Secretaries
JSE Investor Services Proprietary Limited
One Exchange Square, Gwen Lane, Sandown, Sandton, 2196

Sponsor
Investec Bank Limited
100 Grayston Drive, Sandown, Sandton, 2196

Auditors
PricewaterhouseCoopers Inc.

www.bellir.co.za

Announcement date: 5 September 2025

Date: 05-09-2025 12:30:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.