Wrap Text
Interim results for the six months ended 31 March 2022
Barloworld Limited
(Incorporated in the Republic of South Africa)
(Registration number 1918/000095/06)
(Income Tax Registration number 9000/051/71/5)
(Share code: BAW)
(JSE ISIN: ZAE000026639)
(Share code: BAWP)
(JSE ISIN: ZAE000026647)
(Bond issuer code: BIBAW)
(Barloworld or the company or the group)
Interim results for the six months ended 31 March 2022
Salient features
- Normalised group headline earnings per share* (HEPS) up by 382 cents to 784 cents
(1H21 (restated): 401 cents)
- Group HEPS up by 394 cents to 756 cents (1H21 (restated): 362 cents)
- Normalised HEPS* from continuing operations up by 178 cents to 465 cents
(1H21 (restated): 288 cents)
- HEPS from continuing operations up by 197 cents to 447 cents (1H21 (restated): 250 cents)
- Basic earnings per share of (31.6) cents(1H21 (restated): 366.2 cents)
- Group revenue down 19% to R23.2 billion (1H21 (restated: R28.6 billion)
- Revenue from continuing operations up 13.6% to R18.4 billion (1H21 (restated): R16.2 billion)
- Operating profit up 35% to R2.8 billion (1H21 (restated): R2.1 billion)
- Operating margin from continuing operations up 1% to 10.5% (1H21 (restated): 9.5%)
- Enhanced group ROIC of 14.1% (1H21: 3.8%)
- Ordinary dividend 165 cents per share (1H21: 137 cents)
The six monthly portion of the 6% cumulative non-redeemable preference shares will be paid
* Normalised HEPS is adjusted due to (i) the Car Rental and Leasing business being classified as
held for sale and (ii) to exclude the impact of IFRS 16 and B-BBEE charges.
Dividend declaration
Notice is hereby given that interim dividend number 185 has been declared in respect of the six months ended
31 March 2022 subject to the applicable dividends tax levied in terms of the Income Tax Act, 58 of 1962 (as
amended) (the Income Tax Act) as follows:
Dividend Gross amount Withholding tax Net amount
Ordinary 165 cents per share 20% 132 cents per share
In accordance with paragraphs 11.17(a)(i) to (ix) and 11.17(c) of the JSE Listings Requirements the following
additional information is disclosed:
- The dividend has been declared out of income reserves
- The company's income tax number is IT 9000051715
- Local dividends tax rate is 20% (twenty per cent)
- Barloworld has 200 214 227 ordinary shares in issue.
In compliance with the requirements of Strate and the JSE Limited, the following dates are applicable to the
dividends:
Dividend declared Monday, 23 May 2022
Last day to trade cum dividend Tuesday, 21 June 2022
Ordinary shares trade ex-dividend Wednesday, 22 June 2022
Record date Friday, 24 June 2022
Payment date Monday, 27 June 2022
Share certificates may not be dematerialised or rematerialised between Wednesday, 22 June 2022 and Friday,
24 June 2022, both days inclusive.
Short form announcement
This short form announcement is the responsibility of the board of directors of Barloworld and is a summarised version of
the full announcement in respect of the six months ended 31 March 2022 of Barloworld and its subsidiaries (collectively
the group) and as such it does not contain full or complete details pertaining to the group's interim results. Any
investment decisions should be made based on the full announcement, which has been reviewed by Barloworld's auditors, who
expressed an unmodified review conclusion.
The full announcement can be found on the group's website: https://www.barloworld.com/investors/interim-results-presentations/
and on the JSE's website at: https://senspdf.jse.co.za/documents/2022/jse/isse/BAWE/ie2022.pdf
The full announcement is available for inspection, at no charge, at the registered office of Barloworld (61 Katherine Street,
Sandton, Johannesburg, 2146) from 09:00 to 16:00 on business days. Copies of the full announcement can be requested from the
registered office by contacting the Group Company Secretary on +27 11 445 1000.
Certain information presented in this announcement is regarded as pro forma financial information. This information has been
prepared for illustrative purposes only, is the responsibility of the board of directors of Barloworld and has not been reviewed
or reported on by the company's auditors.
Directors
Independent non-executives
NN Gwagwa (Chairman), N Chiaranda^, FNO Edozien*, HH Hickey, MD Lynch-Bell**, NP Mnxasana, NV Mokhesi, H Molotsi, P Schmid
Executive directors
DM Sewela (Group Chief Executive), N Lila (Group Finance Director)
*Nigeria, **UK, ^Italy
Group Company Secretary
Vasta Mhlongo
Enquiries
Group Investor Relations
Nwabisa Piki
Tel: +27 11 445 1890
E-mail: nwabisap@barloworld.com
Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Sandton
23 May 2022
About Barloworld
Barloworld is positioned as an industrial processing, distribution and services company with two primary areas of focus:
Industrial Equipment and Services and Consumer Industries (food and ingredient solutions). Our provision of industrial
equipment and related services includes earthmoving equipment, industrial services and power systems, which enable the
operation and maintenance of a large array of mining, construction and power solutions for our customers, with whom we
have built enduring relationships based on mutual trust. Through our Consumer Industries business, Ingrain, we provide
large enterprises with the ingredients essential to the manufacturing of a range of products including food and
beverages, paper, pharmaceuticals, building materials and adhesives, among others.
Date: 23-05-2022 07:11:00
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