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 ISIN: ZAE000028304 ("Bell Equipment" or "the Company") ABRIDGED CONSOLIDATED RESULTS FOR THE YEAR ENDED 31 DECEMBER 2019 INTRODUCTION 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 R'000 R'000 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 DIVIDENDS 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 Richards Bay 29 May 2020 DIRECTORS Non-executive GW Bell (Chairman), JR Barton* (Lead Independent), DH Lawrance*, HR van der Merwe*, ME Ramathe*, R Naidu*, AJ Bell *Independent From 1 December 2019, AJ Bell's designation changed from executive director to non-executive director. Executive L Goosen (Group Chief Executive), A Goordeen (Alternate), KJ van Haght (Group Finance Director) Registered Office 13 - 19 Carbonode Cell Road, Alton, Richards Bay, 3900 Company Secretary D McIlrath Transfer Secretaries Link Market Services South Africa Proprietary Limited 19 Ameshoff Street, Johannesburg, 2001 Sponsor Investec Bank Limited 100 Grayston Drive, Sandown, Sandton, 2196 Auditors Deloitte & Touche http://www.bellir.co.za Date: 29-05-2020 01:10:00 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.