Reports
and results

Industrial [photo] 

Financial results

FY2020

Unaudited results for the six months ended 30 September 2019
  • Highlights

    • Management delivery on the short-term stabilisation plan
    • Oversubscribed rights offer of R2 billion successfully
    • Net debt to twelve-month rolling adjusted EBITDA ratio down to 2.35* (FY2019: 4.50) * excluding IFRS 16 impact
    • Net debt decreased by R1.4 billion from R4.65 billion at HY2019 to R3.3 billion (FY2019: R4.4 billion)
    • Revenue up 1% from R8 654 million to R8 723 million
    • Operating profit increased from R124 million to R294 million
    • Net asset value increased by 14% from R8 013 million to R9 116 million
    • Headline earnings per share of 49 cents (HY2019: 122 cents loss)
    • A profit after tax of R35 million (HY2019: R93 million loss)
    • Earnings per share of 39 cents (HY2019: 120 cents loss)
    • Level 3 B-BBEE rating
    • The Recordable Case Rate increased from 0.34 to 0.52
    • No interim dividend declared (HY2019: 75 cents)
    • Net working capital reduced by R714 million from R5 346 million to R4 632 million
    • Sustainable debt package is being finalised:
      • Core term facilities of R2 billion
      • Committed, structured working capital facilities of R1.8 billion
     

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