Organisation profile 2.1 - 2.10
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2.1 Name of the organisation.
Integrated Report 2014:
Annual General Meeting Document 2014:
Consolidated Annual Financial Statements 2014:
Barloworld Limited
180 Katherine Street
PO Box 782248
Sandton
2146, South Africa
Tel: +27 11 445 1000
Email: invest.com
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2.2 Primary brands, products, and/or services.
Integrated Report 2014:
Annual General Meeting Document 2014:
Barloworld distributes leading international brands providing integrated rental, fleet management, product support and logistics solutions. The core divisions comprise Equipment and Handling (earthmoving and power systems, materials handling and agriculture), Automotive and Logistics (car rental, motor retail, fleet services, used vehicles and disposal solutions, logistics management and supply chain optimisation).
The group offers flexible, value-adding, integrated business solutions to customers backed by leading global brands. The brands it represents on behalf of its principals include Caterpillar, Hyster, Avis, Audi, BMW, Ford, General Motors, Jaguar Land Rover, Mazda, Mercedes-Benz, Toyota, Volkswagen, Massey Ferguson and others.
Barloworld has a proven record of long-term relationships with global principals and customers. The group has an ability to develop and grow businesses in multiple geographies including emerging and 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.
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2.3 Operational structure of the organisation, including main divisions, operating companies, subsidiaries and joint ventures.
Integrated Report 2014:
Annual General Meeting Document 2014:
Consolidated Annual Financial Statements 2014:
Corporate governance report 2014:
Main divisions of Barloworld Limited are:
| • |
Barloworld Equipment & Handling |
| • |
Barloworld Automotive & Logistics |
Operating companies and subsidiaries:
| • |
Avis Southern Africa Limited |
| • |
Barloworld Botswana (Pty) Limited3 |
| • |
Barloworld Capital (Pty) Limited |
| • |
Barloworld Equipment UK Limited1 |
| • |
Vostochnaya Technica UK1 |
| • |
Barloworld Holdings PLC1 |
| • |
Barloworld Handling Limited1 |
| • |
Barloworld Insurance Limited1 |
| • |
Barloworld Investments (Pty) Limited |
| • |
Barloworld Logistics (Pty) Limited |
| • |
Barloworld South Africa (Pty) Limited |
| • |
Barloworld Investments Namibia (Pty) Limited4 |
| • |
Finanzauto SA2 |
| • |
RIH Investments (Pty) Limited |
| • |
Sociedade Technica de Equipamentos e Tractores SA5 |
| • |
Zeda Car Leasing (Pty) Limited t/a Avis Fleet Services |
All companies are incorporated in (or operate principally in) the Republic of South Africa except where otherwise indicated as follows:
| 1. |
United Kingdom |
| 2. |
Spain |
| 3. |
Botswana |
| 4. |
Namibia |
| 5. |
Portugal |
Significant Joint Ventures:
| • |
Bartrac Equipment Limited |
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2.4 Location of organisation's headquarters.
Integrated Report 2014:
Annual General Meeting Document 2014:
Consolidated Annual Financial Statements 2014:
The corporate office primarily comprises the headquarters in Johannesburg South Africa, the treasury in Maidenhead, United Kingdom, and the captive insurance company in the Isle of Man. The group has a decentralised management philosophy, providing a limited range of corporate activities and services. These include internal audit, governance and company secretarial, investor relations, corporate communication, corporate finance, treasury and taxation, risk and legal, group strategy and sustainability, human resources management, employee benefits, and facilities management.
Barloworld Limited
180 Katherine Street
PO Box 782248
Sandton
2146, South Africa
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2.5 Number of countries where the organisation operates, and names of countries with either major operations or that are specifically relevant to the sustainability issues covered in the report.
Integrated Report 2014:
Annual General Meeting Document 2014:
Consolidated Annual Financial Statements 2014:
The group operates in 24 countries.
Barloworld Equipment & Handling: Andorra, Angola, Botswana, Cape Verde, China, Democratic Republic of the Congo, Lesotho, Malawi, Mozambique, Namibia, Portugal, Russia, São Tomé and Principé, South Africa, Spain, Swaziland, United Kingdom, Zambia and Zimbabwe.
Barloworld Automotive and Logistics: Botswana, France, Germany, Ghana, Lesotho, Mozambique, Namibia, Portugal, South Africa, Spain, Swaziland, United Arab Emirates, United Kingdom, United States of America, Zambia and Zimbabwe.
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2.6 Nature of ownership and legal form.
Consolidated Annual Financial Statements 2014:
Corporate governance report 2014:
Barloworld is incorporated in South Africa under the provisions of the Companies Act, No. 71 of 2008, as amended (Companies Act). The company is listed on the Johannesburg Stock Exchange (JSE) and maintains secondary listings on London Stock Exchange (LSE) and Namibia Stock Exchange. Nature of ownership (shareholding) is reflected below.
Shareholder Profile
Register date: 30 September 2014
Issued share capital: 231 291 819
Public and non-public shareholdings
| |
Shareholder type |
Number of holders |
|
% of total shareholders |
|
Number of shares |
|
% of issued capital |
|
| |
Non-public shareholders |
25 |
|
0.21 |
|
20 885 260 |
|
9.03 |
|
| |
 Directors, Prescribed Officers & Associates |
12 |
|
0.10 |
|
1 385 342 |
|
0.60 |
|
| |
Employee and Educational Trusts |
4 |
|
0.03 |
|
5 014 905 |
|
2.17 |
|
| |
Tamarix Investment Holdings (Pty) Ltd |
9 |
|
0.08 |
|
14 485 013 |
|
6.26 |
|
| |
Public shareholders |
11 663 |
|
99.79 |
|
210 406 559 |
|
90.97 |
|
| |
Total |
11 688 |
|
100 |
|
231 291 819 |
|
100 |
|
| Shareholder spread |
Number of holders |
|
% of total shareholders |
|
Number of shares |
|
% of issued capital |
|
| 1–1 000 shares |
8 557 |
|
73.20 |
|
3 080 416 |
|
1.33 |
|
| 1 001–10 000 shares |
2 489 |
|
21.30 |
|
7 492 761 |
|
3.24 |
|
| 10 001–100 000 shares |
473 |
|
4.05 |
|
15 252 381 |
|
6.59 |
|
| 100 001–1 000 000 shares |
126 |
|
1.08 |
|
38 195 111 |
|
16.51 |
|
| 1 000 001 shares and above |
43 |
|
0.37 |
|
167 271 150 |
|
72.33 |
|
| Total |
11 688 |
|
100.00 |
|
231 291 819 |
|
100.00 |
|
Beneficial shareholders holding 5% or more
| Beneficial shareholdings |
Total shareholding |
|
% |
|
| Government Employees Pension Fund (PIC) |
36 961 118 |
|
15.98 |
|
| Total |
|
|
|
|
Investment managers holding 5% or more
| Investment manager |
Total shareholding |
|
% |
|
| Coronation Asset Management (Pty) Ltd |
35 356 689 |
|
15.29 |
|
| PIC |
29 590 523 |
|
12.79 |
|
| Westwood Global Investments LLC |
15 419 619 |
|
6.67 |
|
| Dimension Fund Advisors |
12 716 325 |
|
5.50 |
|
| Total |
93 083 156 |
|
40.25 |
|
Geographical analysis of shareholders – 2014
| Region |
Total shareholding |
|
% of issued capital |
|
| South Africa |
119 425 079 |
|
51.63 |
|
| United States of America & Canada |
55 757 143 |
|
24.11 |
|
| United Kingdom |
12 654 563 |
|
5.47 |
|
| Rest of Europe |
12 075 878 |
|
5.22 |
|
| Rest of the World¹ |
31 379 156 |
|
13.57 |
|
| Total |
231 291 819 |
|
100 |
|
| 1 |
Represents all shareholdings except those in the above regions |
Geographical analysis of shareholders – 2013
| Region |
Total shareholding |
|
% of issued capital |
|
| South Africa |
136 340 778 |
|
58.95 |
|
| United States of America & Canada |
57 210 591 |
|
24.74 |
|
| United Kingdom |
11 296 119 |
|
4.88 |
|
| Rest of Europe |
5 853 785 |
|
2.53 |
|
| Rest of the World¹ |
20 590 546 |
|
8.90 |
|
| Total |
231 291 819 |
|
100.00 |
|
| 1 |
Represents all shareholdings except those in the above regions |
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2.7 Markets served (including geographic breakdown, sectors served and types of customers/beneficiaries).
Integrated Report 2014:
Specific industries in which the group operates include: mining; construction; forestry; power (electrical, marine, petroleum, industrial); long and short-term vehicle and plant rental; distribution of vehicles; equipment; agriculture; logistics management and supply chain optimisation.
Customer segments include: corporates; individuals; state; state owned enterprises; local utilities and municipalities; wholesale and retail; warehousing; ports and harbours; contractors and sub-contractors.
The group creates value by:
| • |
Providing flexible, value adding, integrated customer solutions in the following business segments:
| – |
Equipment (earthmoving and power systems) |
| – |
Handling (forklift and truck distribution, agricultural equipment and SEM wheel loaders) |
| – |
Automotive (car rental, motor retail, fleet services, used vehicles and disposal systems) |
| – |
Logistics (logistics management and supply chain optimisation) |
|
| • |
Representing leading global brands supported by Barloworld’s service excellence |
| • |
Managing effectively our long-term relationships with global principals and customers. |
The group’s exposure to the mining, infrastructure, power, agriculture, tourism and logistics sectors with above-average long-term growth potential, particularly in emerging markets, is the key driver of establishing market presence in developing economies.
The group operates in 24 countries.
Barloworld Equipment and Handling: Andorra, Angola, Botswana, Cape Verde, China, Democratic Republic of the Congo, Lesotho, Malawi, Mozambique, Namibia, Portugal, Russia, São Tomé and Principé, South Africa, Spain, Swaziland, United Kingdom, Zambia and Zimbabwe.
Barloworld Automotive and Logistics: Botswana, France, Germany, Ghana, Lesotho, Mozambique, Namibia, Portugal, South Africa, Spain, Swaziland, United Arab Emirates, United Kingdom, United States of America, Zambia and Zimbabwe.
Where we operate
19 616 people in 24 countries
View enlarged image
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2.8 Scale of the reporting organisation.
Integrated Report 2014:
Consolidated Annual Financial Statements 2014:
Corporate governance report 2014:
| • |
Revenue (Rm): 62 101 |
| • |
EBITDA (Rm): 6 170 |
| • |
Operating profit (Rm): 3 830 |
| • |
Headline earnings per share from continuing operations (cents): 857 |
| • |
Profit before tax (Rm): 2 530 |
| • |
Profit after tax (Rm): 1 693 |
| • |
Net profit (Rm): 1 910 |
| • |
Total assets (Rm): 44 006 |
| • |
Interests of all shareholders (Rm): 17 486 |
| • |
Non-current liabilities (Rm): 9 700 |
| • |
Current liabilities (Rm): 16 820 |
| • |
Total equity and liabilities (Rm): 44 006 |
| • |
Number of employees: 19 616 |
| • |
Energy consumption (Gigajoules): 2 953 038 |
| • |
GHG emissions (tCO2e)(Scope 1 and 2): 273 986 |
| • |
Water consumption (ML): 785 |
| • |
Operations in countries: 24 |
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2.9 Significant changes during the reporting period regarding size, structure or ownership.
Integrated Report 2014:
Consolidated Annual Financial Statements 2014:
Significant changes since 2013 include the disposal of Ferntree Gully during October 2013, Flynt during November 2013, the Netherlands Handling business during December 2013 and the remainder of the Motor Australian operations during March 2014. It also include the acquisition of the following dealerships in Motor Retail: Leach Toyota in March 2014 and Jaguar Land Rover N4 Witbank in June 2014, The acquisition of Aero Aqua a small clearing and forwarding business in December 2013, the acquisition of Zabalaza a trucking business in June 2014 and Kumkani Cranes a heavy abnormal transport business in September 2014. Only the disposal of the Australian operations resulted in the restatement of financial and non-financial information.
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2.10 Awards received in the reporting period.
Integrated Report 2014:
During the reporting period, the group received the following awards:
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Barloworld remained on the Johannesburg Stock Exchange’s Socially ResponsibleInvestment Index (JSE SRI) 2013 |
| • |
Barloworld is included in the Dow Jones Sustainability Emerging Markets Index (DJSI) announced in September 2014 |
| • |
Barloworld was included in the CDP’s South African Carbon Performance Leadership Index 2013 |
| • |
Barloworld was included in the CDP’s South African Carbon Disclosure Leadership Index 2013 |
| • |
Barloworld was included in the Global Compact 100 Stock Index announced in September 2014 |
| • |
The Barloworld Integrated Report 2013 ranked second in the Industrial sector and seventh overall in the Nkonki Top 100 Integrated Reporting Awards announced in October 2014 |
| • |
Barloworld was ranked second (out of 11 companies) in the General industry sector and 32nd overall (out of 311 companies) in the Sustainability Data Transparency Index survey conducted by Integrated Reporting and Assurance Services. |
| • |
Barloworld continues to be the leader of the General Industrial sector in the annual assessment conducted by the Mail and Guardian of South Africa’s top empowerment companies for the past five years. Amongst the top 100 listed companies, Barloworld is ranked 26th. |
| • |
Various divisional awards |
Subsequent to the reporting period it was announce that Barloworld was a member of the following indices:
| • |
JSE SRI Index 2014 (Best Performer category) |
| • |
Barloworld was ranked first in the industrial sector in the CDP’s South Africa Climate Change report 2014 |
Notwithstanding that these memberships were announced subsequent to the reporting period, they are disclosed in Barloworld’s 2014 Integrated Report as it is believed that they are material to stakeholders as they are applicable and relevant in the period prior to the publication of Barloworld’s 2015 Integrated Report.
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