Barloworld

About this report

About this report

A period of transition

Barloworld has come to the end of our five-year strategic planning horizon, charted from October 2010 through September 2015, and accordingly this report will address our performance in that period, but also look to the future beyond 2015.

The 2015 report reflects on the achievements, the successes and the learnings from the past five years of our journey of executing our value creation strategy to 2015, and how this journey will continue towards realising our Vision 2020.

We continue to focus on the six strategic focus areas (SFAs) that are consistent through our operations and align group activity, inform risks and provide a framework to identify opportunities. These best capture Barloworld’s key priorities as well as the inputs and outcomes of the capitals employed in the organisation. Our human, intellectual, natural, manufactured, financial, social and relationship capitals are deployed through a systematic, structured and integrated planning process throughout the group, facilitating an aligned group strategic framework.

In identifying the strategy to 2020 two of the SFAs have been refined to reflect the evolution of our strategic focus areas.

Given the forward-looking element of the report, our 2016 to 2020 SFAs will be reflected throughout the report where relevant.

Our audience

Long-term providers of capital form the primary audience of the Barloworld integrated report. However, our value creation activities benefit and impact a wide range of stakeholders, whose interests are addressed in the report.

Our integrated reporting is guided by various codes and standards including King III.

Report scope and boundary

The integrated report covers the performance of Barloworld Limited for the financial year October 2014 to September 2015 in all our geographic regions in which the Barloworld group and its subsidiaries operate. The consolidated data incorporates the company and all entities controlled by Barloworld as if they are a single economic entity. Associates and joint ventures are equity accounted. There are no other entities over which the group has significant influence that it believes should be included in the report. Financial and non-financial data is aligned to the same financial reporting period allowing for comparison of performance data.

Our consolidated annual financial statements are prepared in accordance with International Financial Reporting Standards (IFRS). Any limitations will be disclosed in the relevant section.

3.5 – 3.11

Significant changes during the reporting period

During the reporting period the disposals of the Logistics business in Spain, Sea Air Transport (SAT) in Germany, and the Agriculture business in Russia were carried out. Motor Retail acquired GM Ferndale and Avis Fleet acquired Tanzuk Limited in Tanzania. None of the changes resulted in the restatement of the financial and non-financial information.

Disclosure

Barloworld endeavours to achieve the highest standards of disclosure by providing meaningful, accurate and balanced information to stakeholders.

Assurance

The financial information in this report has been prepared according to IFRS and independently assured, together with material non-financial indicators and the group’s GRI Application Level, by our external auditors Deloitte and Touche.

Forward-looking information

Our integrated report contains forward-looking information – that is, information related to future events. In this context, forward-looking statements often address our expected future business, results, financial performance and financial condition, and often contain words such as “expect”, “anticipate”, “intend”, “plan”, “believe”, “seek”, “could”, “should”, “would”, “see”, or “will”. Forwardlooking statements by their nature involve risk and uncertainty as they relate to future events that are, to different degrees, outside Barloworld’s control. Therefore actual events may differ materially from the stated expectations. Readers are thus cautioned not to place undue reliance on these statements which only provide management’s view at the time of the report.