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Trading Statement for the Twelve Months Ended 31 March 2024
PBT Group Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1936/008278/06)
JSE Share code: PBG ISIN: ZAE000256319
("PBT Group" or "the Company" or "the Group")
TRADING STATEMENT FOR THE TWELVE MONTHS ENDED 31 MARCH 2024
Shareholders of PBT Group are advised that the Company is satisfied that a reasonable degree of certainty
exists that the expected earnings per share ("EPS") and headline earnings per share ("HEPS") for the current
period will differ by at least 20% from that of the previous corresponding period, being the twelve months ended
31 March 2023 ("the prior period") and that a trading statement is required in terms of the JSE Limited Listing
Requirements.
This is primarily due to the reported Group EPS and HEPS numbers, being affected as follows:
• Weighted average number of ordinary shares (WANOS) increased by 14.4 million shares (16.3%)
during the period due to issued shares held by PBT Group's largest BEE shareholder being classified
as ordinary shares (previously classified as treasury shares) and included in WANOS during the period
following the sale of the vendor funding instruments at the end of the 2023 financial year. Prior to the
sale, the 14.4 million shares had been classified as treasury shares in terms of IFRS 2 Share-based
Payments. The Company had already included these issued shares in WANOS when calculating the
normalised headline earnings per share figures reported in the previous period, as the board of
directors of PBT Group is of the view that the movement in normalised earnings per share is a more
accurate reflection of the Company's performance for the period.
• PBT Group (Australia) Proprietary Limited (PBT Australia), a wholly owned subsidiary in the Group,
was disposed of on 30 September 2023 and PBT Group accounted for it as a discontinued operation
in its results for the twelve months ended 31 March 2024. The impact of discontinued operation was
a decrease of R2.4 million in earnings during the current period. Full details regarding discontinued
operation will be disclosed in the Company's Annual Results.
Results are expected to be as follows:
Continuing Operations
Trading statement for the Period on period 12 months ended 12 months
12 months ended change based on 31 March 2024 ended 31 March
31 March 2024 expected ranges 2023
% Expected ranges
Revenue (ZARm) (0.10) - 6.08 1 040 - 1 104 1 041
EBITDA (ZARm) (8.4) - (2.7) 134 - 143 147
Profit after taxation (ZARm) (8.0) - (4.4) 94 - 98 102
Cash Generated from (ZARm) 1.21 - 7.47 139.4 - 148.0 137.7
Operations
Normalised Headline (ZARm) (11.6) - (6.2) 68.1 - 72.3 77.0
Earnings*
Headline Earnings (ZARm) (14.0) - (8.7) 62.4 - 66.3 72.6
Normalised Headline (ZAR (13.0) - (7.6) 65.2 - 69.2 74.8
Earnings per share* cents)
Headline Earnings per (ZAR (26.1) - (21.5) 60.8 - 64.5 82.2
share cents)
Earnings per share (ZAR (26.0) - (21.4) 60.8 - 64.5 82.0
cents)
Group Results
Trading statement for the Period on period 12 months ended 12 months
12 months ended change based on 31 March 2024 ended 31
31 March 2024 expected ranges March 2023
Expected ranges
Revenue (ZARm) (0.10) - 6.08 1 040 - 1 104 1 041
EBITDA (ZARm) (8.4) - (2.7) 134 - 143 147
Profit after taxation (ZARm) (4.5) - (0.8) 94 - 98 98
Cash Generated from (ZARm) 1.21 - 7.47 139.4 - 148.0 137.7
Operations
Normalised Headline (ZARm) (11.1) - (5.6) 64.9 - 68.9 73.0
Earnings*
Headline Earnings (ZARm) (13.6) - (8.2) 59.3 - 63.0 68.6
Normalised Headline (ZAR (12.4) - (7.0) 62.1 - 66.660 71.0
Earnings per share* cents)
Headline Earnings per (ZAR (25.7) - (21.1) 57.7 - 61.3 77.7
share cents)
Earnings per share (ZAR (24.6) - (19.9) 58.5 - 62.1 77.5
cents)
* PBT Group is reporting normalised headline earnings and normalised headline earnings per share figures.
These figures reverse the accounting effect of IFRS 2 Share-based Payment. The board of directors of PBT
Group is of the view that this is a more accurate reflection of the Company's after-tax earnings and after-tax
earnings per share.
The financial information on which this trading statement is based has not been reviewed and reported on by
the Company's auditors.
Full details of the Group's performance will be contained in the Company's Annual Results, which are expected
to be released on or about 28 June 2024.
By order of the board of directors.
24 June 2024
Cape Town
Sponsor
Questco Corporate Advisory Proprietary Limited
Date: 24-06-2024 02:55:00
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