Bell Equipment Income Statement

Financials in millions ZAR. Fiscal year is January - December.

Millions ZAR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	11,422	11,697	13,514	10,276	8,017	6,690
Revenue Growth (YoY)	-17.77%	-13.44%	31.50%	28.18%	19.83%	-14.48%
Cost of Revenue	8,960	9,229	10,812	8,245	6,473	5,456
Gross Profit	2,461	2,468	2,702	2,031	1,544	1,234
Selling, General & Admin	2,206	2,024	1,847	1,586	1,325	1,311
Other Operating Expenses	-274.91	-311.11	-339.51	-260.13	-184.96	-112.68
Operating Expenses	1,931	1,713	1,508	1,326	1,140	1,198
Operating Income	530.46	754.4	1,194	705.19	403.72	35.62
Interest Expense	-123.69	-185.05	-196.77	-136.98	-96.39	-154.17
Interest & Investment Income	110.41	102.91	83.21	77.51	62.28	51.03
Pretax Income	517.17	672.26	1,080	645.72	369.61	-67.53
Income Tax Expense	144.9	201.19	286.58	166.87	75.34	-10.37
Earnings From Continuing Operations	372.27	471.06	793.57	478.85	294.27	-57.16
Minority Interest in Earnings	-25.18	-30.63	-29.96	-22.01	-7.5	-7.13
Net Income	347.09	440.44	763.61	456.85	286.77	-64.29
Net Income to Common	347.09	440.44	763.61	456.85	286.77	-64.29
Net Income Growth	-53.34%	-42.32%	67.15%	59.31%	-	-
Shares Outstanding (Basic)	96	96	96	96	96	96
Shares Outstanding (Diluted)	108	106	103	128	110	96
Shares Change (YoY)	13.08%	3.75%	-19.70%	16.01%	15.22%	-
EPS (Basic)	3.63	4.61	7.99	4.78	3.00	-0.67
EPS (Diluted)	3.22	4.14	7.44	3.57	2.60	-0.67
EPS Growth	-58.67%	-44.35%	108.40%	37.31%	-	-
Free Cash Flow	2,161	1,746	39.05	-347.04	490.21	734.08
Free Cash Flow Per Share	19.98	16.39	0.38	-2.71	4.45	7.68
Dividend Per Share	1.600	1.600	-	0.900	0.500	-
Dividend Growth	-	-	-	80.00%	-	-
Gross Margin	21.55%	21.10%	19.99%	19.77%	19.26%	18.44%
Operating Margin	4.64%	6.45%	8.83%	6.86%	5.04%	0.53%
Profit Margin	3.04%	3.77%	5.65%	4.45%	3.58%	-0.96%
Free Cash Flow Margin	18.92%	14.93%	0.29%	-3.38%	6.12%	10.97%
EBITDA	633.59	841.63	1,309	847.18	555.12	176.45
EBITDA Margin	5.55%	7.20%	9.69%	8.24%	6.92%	2.64%
D&A For EBITDA	103.13	87.23	115.06	141.99	151.4	140.83
EBIT	530.46	754.4	1,194	705.19	403.72	35.62
EBIT Margin	4.64%	6.45%	8.83%	6.86%	5.04%	0.53%
Effective Tax Rate	28.02%	29.93%	26.53%	25.84%	20.39%	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.