ADVTECH LIMITED - Interim results for the six months ended 30 June 2022 and announcement of dividend declaration

Interim results for the six months ended 30 June 2022 and announcement of dividend declaration

ADvTECH Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1990/001119/06)
JSE code: ADH         ISIN: ZAE000031035
Income taxation number: 9550/190/71/5
(“ADvTECH” or “the group” or “the company”)


INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2022 AND ANNOUNCEMENT OF
DIVIDEND DECLARATION

1. Salient features

Revenue increased by 18% to R3 380 million from R2 860 million in the prior corresponding period.

Operating profit before interest and non-trading items increased by 19% to R612 million from R514
million in the prior corresponding period.

Normalised earnings increased by 23% to R365 million from R297 million in the prior corresponding
period.

Normalised earnings per share (“NEPS”) increased by 22% to 67.3 cents per share from 55.1 (restated)
cents per share in the prior corresponding period.

Headline earnings per share (“HEPS”) increased by 23% to 68.0 cents per share from 55.1 (restated)
cents per share in the prior corresponding period.

Earnings per share (“EPS”) increased by 19% to 68.2 cents per share from 57.5 cents (restated) per
share in the prior corresponding period.

An interim dividend of 23.0 cents per share was declared compared to the 19.0 cents per share dividend
declared for the prior corresponding period.

2. Declaration of interim dividend no. 24

Following a period of significant investment, the group is now benefiting from the resulting returns. The
growth trend and continuing strong cash generation, together with a sound balance sheet and reduced
borrowings, have informed the board’s decision to continue with the payment of dividends at a similar
cover ratio as in the prior year.

The board is pleased to announce the declaration of an interim dividend of 23.0 cents (2021: 19.0 cents)
per ordinary share in respect of the half year ended 30 June 2022.

This is a dividend as defined in the Income Tax Act, 1962, and is payable from income reserves. The
South African dividend taxation (DT) rate is 20%. The net amount per share payable to shareholders
who are not exempt from DT is 18.4 cents per share, while it is 23.0 cents per share to those
shareholders who are exempt from DT.

There are 554 459 991 ordinary shares in issue; the total dividend amount payable is R 127.5 million.

The salient dates applicable to the dividend referred to above are as follows:
 Declaration of dividend by the board:                            Friday, 26 August 2022
 Announcement of interim results for 2022 on SENS:                Monday, 29 August 2022
 Last day to trade in order to participate in the dividend:       Tuesday, 13 September 2022
 Trading commences ex-dividend:                                   Wednesday, 14 September 2022
 Record date:                                                     Friday, 16 September 2022
 Payment date:                                                    Monday, 19 September 2022


Share certificates may not be dematerialised and rematerialised between Wednesday, 14 September
2022, and Friday, 16 September 2022, both days inclusive.
3. Short-form announcement

This short form announcement, which is the responsibility of ADvTECH’s directors, is only a summary
of the information in the full announcement and does not contain full or complete details. Any investment
decisions by shareholders and/or investors should be based on consideration of the full announcement
published on SENS on 29 August 2022. The full announcement can be found at:
https://senspdf.jse.co.za/documents/2022/jse/isse/ADH/FY2022H1.pdf

The full announcement is also available for viewing on the company’s website at:

https://irp.cdn-website.com/24847d5c/files/uploaded/Long%20Form%20June%202022.pdf
or a copy may be requested in person, at the company’s registered office or the office of the sponsor,
at no charge, during office hours. Copies of the full announcement may also be requested from
ADvTECH’s group investor relations at investorrelations@advtech.co.za.

29 August 2022
Johannesburg
Sponsor: Bridge Capital Advisors Proprietary Limited

Date: 29-08-2022 08:00:00
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