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Audited Results for the year ended 31 December 2025 and Dividend Declaration
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")
AUDITED RESULTS FOR THE YEAR ENDED 31 DECEMBER 2025 AND DIVIDEND DECLARATION
INTRODUCTION
Bell Equipment is a Proudly South African and global company with more than 70 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.
This short form announcement and the results contained in this short form announcement have been prepared in compliance with
the JSE Limited's Listings Requirements.
The content of this short form announcement is the responsibility of the board of directors of the Company and is only a
summary of the information in the full announcement.
PricewaterhouseCoopers Inc have issued an unmodified audit opinion on the consolidated annual financial statements for
the year ended 31 December 2025. The auditor's report and the consolidated annual financial statements are available on the
Company's website at www.bellir.co.za.
Any investment decisions by investors should be based on the audited annual financial statements as the information in the announcement
does not provide all of the details and investors are encouraged to review the audited annual financial statements,
which is available for viewing on the Company's website (www.bellir.co.za).
Link to financial results https://senspdf.jse.co.za/documents/2026/jse/isse/BEL/Final25.pdf
FINANCIAL AND OPERATING RESULTS
2025 2024 % change
R'000 R'000
Revenue 11 152 251 11 696 666 (5)
Profit from operating activities 581 307 754 397 (23)
Profit for the year 407 389 471 064 (14)
Net cash inflow for the year 448 008 458 332 (2)
Earnings per share (basic)(cents) 402 461 (13)
Headline earnings per share (basic)(cents) 413 465 (11)
Net asset value per share (cents) 6 174 5 936 4
Dividend per share (cents) 100 160 (38)
DIVIDEND CONSIDERATION
Notice is hereby given that the directors have declared a gross final cash dividend of 100 cents per ordinary share
for the year ended 31 December 2025 payable to ordinary shareholders in accordance with the timetable below.
The net final dividend is 80.0 cents per share for ordinary shareholders who are subject to the 20 percent
dividend withholding tax.
The dividend has been declared from income reserves.
The company's income tax reference number is 9022169206.
The issued share capital at the declaration date is 95 629 385 ordinary shares.
Last day of trade to receive a dividend Tuesday, 21 April 2026
Shares commence trading "ex" dividend Wednesday, 22 April 2026
Record date Friday, 24 April 2026
Payment date Tuesday, 28 April 2026
Share certificates may not be dematerialised or rematerialised between Wednesday, 22 April 2026 and Friday, 24 April 2026,
both days inclusive.
A shareholders' presentation is available on the Company's website.
On behalf of the board
Gary Bell Ashley Bell
Chairman Chief Executive
Richards Bay
30 March 2026
DIRECTORS
Non-executive
GW Bell (Chairman), HR van der Merwe* (Lead Independent),
DH Lawrance*, ME Ramathe*, R Naidu*, U Maharaj*, M Geyer*,
S Fitzpatrick*, H Ramsumer*
*Independent
Appointed: S Fitzpatrick was appointed as independent non-executive director with effect from 1 July 2025.
H Ramsumer was appointed as independent non-executive director with effect from 1 December 2025.
Executive
AJ Bell (Group Chief Executive), SR Jones (Alternate),
KJ van Haght (Group Finance Director), A Goordeen (Alternate)
Appointed: A Goordeen was appointed as alternate executive director to Karen van Haght from 4 September 2025.
SR Jones was appointed as alternate executive director to Ashley Bell on 4 September 2025.
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, 2 Gwen Lane, Sandown, Sandton, 2196
Sponsor
Investec Bank Limited
100 Grayston Drive, Sandown, Sandton, 2196
Auditors
PricewaterhouseCoopers Inc.
www.bellir.co.za
Announcement date: 30 March 2026
Date: 30-03-2026 03:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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