Enhanced Investments - Financial Portal

Unaudited Interim Results for the period ended 30 June 2023

Published: 2023-09-11 12:15:19 ET

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”)

UNAUDITED INTERIM RESULTS FOR THE PERIOD ENDED 30 JUNE 2023

INTRODUCTION

Bell Equipment is a Proudly South African and global Company with more than 69 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.

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 should be based on a consideration of the full announcement as a whole and investors
are encouraged to review the full announcement, which is available for viewing on the Company’s website (www.bellir.co.za).

Link to full results https://senspdf.jse.co.za/documents/2023/jse/isse/BEL/Interim23.pdf

The full announcement is also available for inspection, at no charge, at the registered office of the Company,
13 - 19 Carbonode Cell Road, Alton, Richards Bay, 3900 and at the offices of Bell Equipment Limited’s sponsor,
Investec Bank Limited, 100 Grayston Drive, Sandown, Sandton, during normal business hours from Monday, 11 September 2023.
Investors may request copies of the full announcement from the Company Secretary (Diana.Mcilrath@bellequipment.com).

FINANCIAL AND OPERATING RESULTS
                                                                      Six months          Six months
                                                                           ended               ended
                                                                    30 June 2023        30 June 2022          % change
                                                                            R'000               R'000
Revenue                                                                 6 004 256          4 229 344                42
Profit from operating activities                                          535 881            307 819                74
Profit for the period                                                     348 908            210 331                66
Net cash outflow for the period                                          (397 818)          (176 716)              125
Earnings per share (basic)(cents)                                             343                209                64
Headline earnings per share (basic)(cents)                                    343                210                63
Net asset value per share (cents)                                           5 134              4 189                23
Dividend per share (cents)                                                      -                  -                 -

DIVIDEND
In line with the group’s decision at the end of the previous interim period and with a view to allocating cash for targeted growth
and inventory investment, the Board resolved not to declare an interim dividend.

A shareholders’ presentation will be made available on the Company’s website.

On behalf of the board



Gary Bell                                            Leon Goosen
Chairman                                             Chief Executive

Richards Bay
11 September 2023


DIRECTORS
Non-executive
GW Bell (Chairman), HR van der Merwe* (Lead Independent), DH Lawrance*, ME Ramathe*, R Naidu*, U Maharaj*, M Geyer*, AJ Bell
* Independent

Executive
L Goosen** (Group Chief Executive), A Goordeen (Alternate), KJ van Haght (Group Finance Director)
** Resigned: L Goosen resigned as Group Chief Executive with effect from 31 December 2023.

Company Secretary
D McIlrath

Registered Office
13 - 19 Carbonode Cell Road, Alton, Richards Bay, 3900

Transfer Secretaries
JSE Investor Services Proprietary Limited
One Exchange Square, Gwen Lane, Sandown, Sandton, 2196

Sponsor
Investec Bank Limited
100 Grayston Drive, Sandown, Sandton, 2196

Auditors
Deloitte & Touche

www.bellir.co.za

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

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Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.