EOH HOLDINGS LIMITED - Unaudited interim condensed consolidated financial statements for the six months ended 31 January 2021

Unaudited interim condensed consolidated financial statements for the six months ended 31 January 2021

EOH HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/014669/06)
JSE share code: EOH ISIN: ZAE000071072
(“EOH” or “the Company”)

SHORT-FORM ANNOUNCEMENT: UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE 
SIX MONTHS ENDED 31 JANUARY 2021


 “Our business, while smaller from a revenue perspective due to the strategic disposal of non-core assets
 and exit of under-performing businesses, is now a more sustainable business delivering better quality of
 earnings. We have seen a significant reduction in one-off costs and are confident that our legacy issues are
 now under control. The local and global economy remains constrained as we have seen the negative impact
 on some of our clients. However, we have also seen increased cloud uptake and spend on automation and
 application development in line with global trends since the beginning of the pandemic. Over the coming
 months, our focus will be on deleveraging, enhancing margins and remaining antifragile.” Stephen van
 Coller, CEO

Salient features
- The period followed the continued improvement theme from the last two six-month periods
- Revenue of R4 376 million – decline mainly attributable to disposals and legacy contracts
- Improved gross profit margin to 27.6% from 24.2% in the prior period
- Total core Normalised EBITDA for the period was R363 million with a normalised EBITDA margin
  improvement to 8.3% from 7.8% in the prior period
- As the business evolves and approaches a steady state, the gap between normalised EBITDA and reported
  EBITDA continues to narrow with EBITDA before normalisation adjustments of R329 million for the
  period
- Positive operating profit of R59 million generated compared to R915 million loss in the prior period
- Total headline loss per share improved by 83% with losses narrowing from 350 cents per share to 60 cents
  per share
- Cash remains stable with a cash balance of R440 million as at 31 March 2021
- COVID-19 continues to negatively impact the South African economy however increased drive towards
  digitisation has given rise to new areas of growth for EOH

                                     Unaudited for the six        Unaudited restated for
                                       months to31 January             the six months to
                                                      2021               31 January 2020          % change
 Total Revenue                              R4 376 million                R6 194 million              -29%
 Headline loss per share
 (including discontinued
 operations)                             60 cents per share            350 cents per share             83%
 Loss per share (including
 discontinued operations)               107 cents per share            643 cents per share             83%

The presentation of the Company’s interim results hosted by EOH CEO Stephen van Coller and CFO Megan
Pydigadu, may be viewed via a webinar at 11h00 on Wednesday, 14 April 2021, by following the link:
www.eoh.co.za/watch2021interimresults

This short-form announcement is the responsibility of the directors. This short-form announcement is only a
summary of the information in the full announcement and does not contain full or complete details. The short-
form announcement has not been audited or reviewed by the Company's external auditors. Any investment
decisions by investors and/or shareholders should be based on consideration of the full announcement
published on SENS and the issuer’s website as a whole.

The full announcement, which has been released on SENS, is available on EOH’s website at:
https://www.eoh.co.za/investor-relations/financial-results/ and is also available on the JSE website at:
https://senspdf.jse.co.za/documents/2021/jse/isse/EOH/H12021.pdf

Copies of the full announcement may be requested from ir@eoh.com or the sponsor, Java Capital at
sponsor@javacapital.co.za.

14 April 2021

Sponsor
Java Capital

Date: 14-04-2021 07:30:00
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