Abridged consolidated results for the year ended 31 December 2019
BELL EQUIPMENT LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1968/013656/06)
Share code: BEL
("Bell Equipment" or "the Company")
ABRIDGED CONSOLIDATED RESULTS FOR THE YEAR ENDED 31 DECEMBER 2019
Bell Equipment is a Proudly South African company with more than 60 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.
Deloitte & Touche have issued an unmodified auditor's report on the annual financial statements for the year
ended 31 December 2019. The report also includes communication of key audit matters. Key audit matters are
those matters that, in their professional judgement, were of most significance in their audit of the annual
financial statements of the current period.
Shareholders are advised that this short form announcement represents a summary of the information
contained in the full announcement and does not contain full or complete details of the financial results.
Any investment decisions by investors and/or shareholders should be based on a consideration of the full
announcement as a whole and shareholders are encouraged to review the full announcement, which is available
for viewing on the Company's website (http://www.bellir.co.za).
Link to full results https://senspdf.jse.co.za/documents/2020/jse/isse/BEL/Final19.pdf
FINANCIAL AND OPERATING RESULTS
2019 2018 % change
Revenue 7 823 169 7 534 438 4
Profit from operating activities 230 561 453 751 (49)
Profit for the year 60 955 276 417 (78)
Net cash outflow for the year (305 710) (14 153) 2 060
Earnings per share (basic)(cents) 79 283 (72)
Headline earnings per share (basic)(cents) 80 278 (71)
Net asset value per share (cents) 3 595 3 526 2
In the current difficult economic circumstances, the board of directors has resolved not to declare a final
dividend for the year ended 31 December 2019 (2018: gross final cash dividend of 25 cents per share).
On behalf of the board
Gary Bell Leon Goosen
Chairman Chief Executive
29 May 2020
GW Bell (Chairman), JR Barton* (Lead Independent),
DH Lawrance*, HR van der Merwe*, ME Ramathe*, R Naidu*, AJ Bell
From 1 December 2019, AJ Bell's designation changed from executive director
to non-executive director.
L Goosen (Group Chief Executive), A Goordeen (Alternate),
KJ van Haght (Group Finance Director)
13 - 19 Carbonode Cell Road, Alton, Richards Bay,
Link Market Services South Africa Proprietary Limited
19 Ameshoff Street, Johannesburg, 2001
Investec Bank Limited
100 Grayston Drive, Sandown, Sandton, 2196
Deloitte & Touche
Date: 29-05-2020 01:10:00
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