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Unaudited Condensed Interim Results for the six months to 31 December 2024 and dividend announcement
Transpaco Limited
(Incorporated in the Republic of South Africa)
Registration number 1951/000799/06
ISIN: ZAE000007480
JSE Share code: TPC
("Transpaco" or "the company")
Unaudited Condensed Interim Results for the six months to 31 December 2024 and dividend announcement
FINANCIAL RESULTS
Unaudited
Unaudited six months Unaudited Audited
six months December six months 12 months
December % change December June
2024 2024 2023 2024
Revenue (R'000) 1334,7 (3,1) 1377,2 2487,1
Operating profit (R' million) 109,0 (13,7) 126,3 212,7
Profit before taxation (R' million) 106,5 (12,3) 121,4 206,5
Earnings and diluted earnings per share (cents) 269,4 (9,9) 299,1 521,5
Headline and diluted headline earnings
per share (cents) 269,7 (9,8) 299,1 520,9
Total gross dividend per share (cents) 75,0 (6,3) 80,0 240,0
Net asset value per share (cents) 3341,0 8,1 3090,0 3232,0
Operating margin (%) 8,2 (10,9) 9,2 8,6
Net cash
Net interest-bearing debt: equity ratio (%) 4,8 11,1 5,4 positive
INTRODUCTION
Transpaco's results for the six months ended 31 December 2024 ("the period") reflect a 9,8% decrease
in headline earnings per share (HEPS) to 269,7 cents (December 2023: 299,1 cents). The current economic
conditions remained challenging, restricting Transpaco's ability to maximise its potential. Revenue
decreased by 3,1% to R1 334,7 million (December 2023: R1 377,2 million) with operating profit down 13,7%
to R109,0 million (December 2023: R126,3 million). Headline earnings reduced by 12,2% to R77,8 million
(December 2023: R88,6 million). However, Transpaco's share buyback strategy curtailed the negative impact
on HEPS. Revenue decreased by 1,0% in the Plastics Division and 5,4% in the Paper and Board Division.
Traditionally, revenue is higher in the first six months of the financial year due to the seasonal nature
of the business. The reduction in operating margin to 8,2% (December 2023: 9,2%) contributed to the decrease
in the group's operating profit by 13,7%.
DIVIDEND
The board has declared an interim gross cash dividend out of income reserves of 75,0 cents per share
(December 2023: 80,0 cents per share) for the six months ended 31 December 2024. After applying the dividend
withholding tax of 20%, a net interim dividend of 60,0 cents per share will be paid to those shareholders who
are not exempt from the dividends tax. The issued shares at the date of declaration is 28 839 388 ordinary shares.
The Income Tax reference number is 9975/112/71/6.
The salient dates for the dividend are as follows:
Last date to trade shares cum dividend Tuesday, 11 March 2025
Shares trade ex-dividend Wednesday, 12 March 2025
Record date Friday, 14 March 2025
Payment date Monday, 17 March 2025
Share certificates may not be dematerialised or rematerialised between Wednesday, 12 March 2025 and
Friday, 14 March 2025, both days inclusive.
ADMINISTRATIVE INFORMATION
This short-form announcement is the responsibility of the directors and is only a summary of the information in the
full announcement. The full announcement was released on SENS on 19 February 2025, and can be found on the company's
website at www.transpaco.co.za and on the following JSE link:
https://senspdf.jse.co.za/documents/2025/jse/isse/TPC/Interims.pdf
Any investment decision should be based on the full announcement published on SENS and on the company's website
as the information in this announcement does not include all details.
On behalf of the board
DJJ Thomas PN Abelheim L Weinberg
Chairman Chief Executive Officer Chief Financial Officer
19 February 2025
DIRECTORS
DJJ Thomas (Chairman)*; PN Abelheim (Chief Executive Officer); L Weinberg (Chief Financial Officer).
HA Botha**; SR Bouzaglou; SY Mahlangu**; SP van der Linde (Lead Independent Director)**
*Non-executive **Independent non-executive
Transpaco Limited Registration number: 1951/000799/06, Share code: TPC ISIN ZAE000007480
Auditors BDO South Africa Incorporated
Company Secretary HJ van Niekerk
Sponsor Investec Bank Limited
Registered office 331 6th Street Wynberg Sandton
Transfer secretaries Computershare Investor Services (Pty) Limited, Rosebank Towers, 15 Bierman Avenue,
Rosebank, Johannesburg
Website www.transpaco.co.za
Date: 19-02-2025 01:00:00
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