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Trading Statement
enX Group Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2001/029771/06)
JSE share code: ENX ISIN: ZAE000222253
("enX" or ''the Company'' or ''the Group'')
TRADING STATEMENT
In terms of the JSE Listings Requirements, companies are required to publish a trading
statement as soon as they are satisfied that a reasonable degree of certainty exists that the
financial results for the period to be reported on next, will differ by at least 20% from the
financial results for the previous corresponding period.
Shareholders are advised that the Company anticipates results for the year ended 31 August
2024 (''Current Range'') to differ by more than 20% compared to the year ended 31 August
2023 ("Prior Period''), as follows:
Current Range Prior Period Percentage
change range
enX Group
EPS 109c to 125c 163c (23%) to (33%)
Diluted EPS 109c to 125c 163c (23%) to (33%)
HEPS 291c to 307c 164c 77% to 87%
Continuing
EPS 79c to 88c 90c (2%) to (12%)
Diluted EPS 79c to 88c 90c (2%) to (12%)
HEPS 79c to 88c 94c (6%) to (16%)
Discontinued
EPS 30c to 37c 73c (49%) to (59%)
Diluted EPS 30c to 37c 73c (49%) to (59%)
HEPS 212c to 219c 70c -
Trading commentary
Revenue from continuing operations is expected to decrease by approximately 3%.
Profit before taxation from continuing operations is expected to decrease between 5% and
9%.
Discontinued operations
Current period
Shareholders are referred to the SENS announcement dated 12 December 2023 announcing
the disposal of Eqstra to Nedbank Group Limited (''the Transaction''), wherein definitive
transaction agreements were concluded between the parties. The suspensive conditions to
the Transaction were fulfilled and the Transaction became unconditional on 19 April 2024.
Shareholders are referred to the SENS announcement dated 13 June 2024, wherein it was
advised that the Transaction was implemented in full on that date.
In terms of IFRS 5, Eqstra has been reported as a disposal group held for sale and discontinued
operation from 31 August 2023, the date that the conditions were met to be classified as such.
In terms of IFRS 5, Eqstra was required to cease depreciation and amortisation from 1
September 2023 and assess the carrying value of the held for sale assets relative to the
transaction value. Consequently, depreciation and amortisation from 1 September 2023 to
disposal amounting to R424 million (after tax R310 million) was not recorded in the current
period and the disposal group held for sale was impaired by R310 million.
The total HEPS range would have been between 106c and 122c per share had Eqstra not been
classified as a disposal group held for sale and discontinued operation. This is primarily due to
depreciation ceasing on assets within Eqstra at the point of classification as held for sale.
The financial information on which this trading statement is based has not been reviewed or
reported on by the Company's auditors.
29 October 2024
Sponsor:
The Standard Bank of South Africa Limited
Date: 29-10-2024 11:01:00
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