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Unaudited interim results for the period ended 30 June 2023, changes to board committees & appointment of COO
METAIR INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
("Metair" or "the group" or "the company")
(Reg No. 1948/031013/06)
JSE and A2X share code: MTA
ISIN: ZAE000090692
CONDENSED UNAUDITED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2023, CHANGES TO THE BOARD
COMMITTEES AND APPOINTMENT OF A CHIEF OPERATING OFFICER ("COO")
HIGHLIGHTS
TURNOVER INCREASED BY 31% TO R7.6 BILLION
Consolidated Group assessed at B-BBEE Level 1 and South African subsidiaries at level 4 or better
Revenue increased 31% to R7.6bn
Operating profit increased 124% to R324m
HEPS decreased 9% to 41cps
SEGMENTAL CONTRIBUTION
REVENUE (%)*
Energy storage - 36%
Automotive components* - 64%
* Includes Hesto
Investor and analyst webcast of the presentation will be broadcast today, 14 September 2023 at 14h00 (SAST)
https://www.corpcam.com/Metair14092023
Shareholders are advised to refer to the full interim results (which may be accessed via the links provided below) for commentary in respect of the results
for the six months ended 30 June 2023.
Six months ended Year ended
30 June 30 June 31 December Change
2023 2022 2022 %
Unaudited Unaudited Audited
Financial Summary R'000 R'000 R'000
Revenue 7 639 052 5 821 975 13 905 467 31
Operating profit 323 594 144 379 452 708 124
EBITDA 536 053 327 913 825 659 63
EBITDA including equity earning,
before impairment 528 893 300 379 596 696 76
Earnings/(loss) per share (cents) 48 41 (21) 17
Headline earnings/(loss) per share (cents) 41 45 (17) (9)
No. of shares in issue ('000) 198 986 198 986 198 986 -
Net asset value per share (cents) 2 615 2 536 2 615 3
Cash (utilised in)/generated from operations (41 991) (359 695) 151 195 88
NO DIVIDEND IS BEING DECLARED FOR THE SIX MONTHS ENDED 30 JUNE 2023 (30 JUNE 2022: NIL)
CHANGES TO THE BOARD COMMITTEES AND APPOINTMENT OF A COO
- With effect from 13 September 2023, the company’s remuneration and nominations committees will be combined into one committee, the remuneration
and nominations committee. The remuneration and nominations committee will comprise of Ms N Mkhondo as the chairperson and Ms TN Mgoduso,
Mr MH Muell and Mr PH Giliam will serve as members;
- Ms N Medupe, has been appointed as a member of the investment committee, with effect from 13 September 2023; and
- Mr J Mouton has been appointed as the company's COO on a fixed term contract, with effect from 1 October 2023. Mr Mouton served as the technical and
logistics director at the BMW Group plant in Rosslyn from 2018 to April 2023. Mr Mouton has a wealth of experience, over 40 years, in the motor manufacturing
and logistics industry gained through various leadership roles, including, inter alia, director of painted body and press plant at the BMW plant in Oxford and
Swindon (UK), vice president of body and press plant at the BMW Tiexi Plant in mainland China and assembly general manager at the BMW South Africa Rosslyn
plant. The board looks forward to Mr Mouton's contribution to the company.
ADDITIONAL INFORMATION
This announcement is the responsibility of the directors of the company.
Shareholders are advised that the forecast financial information contained in this announcement has not been reviewed or reported on by the company's
auditors and is the responsibility of the directors of the company. As the information in this announcement does not provide all of the details, any investment
decisions should be based on the full results available through the JSE cloudlink at: https://senspdf.jse.co.za/documents/2023/JSE/ISSE/MTA/interim23.pdf
and on Metair's website at: https://www.metair.co.za/wp-content/uploads/2023/09/Metair-Interims-Sept-2023-WEB.pdf.
An investor and analyst webcast of the interim results presentation will be broadcast live on Thursday, 14 September 2023 at 14h00 (SAST), which
presentation will be available on the company's website: https://www.metair.co.za/wp-content/uploads/2023/09/Interim-2023-Presentation.pdf. Investors and
analysts are advised to utilise the following link to gain access to the webinar: https://www.corpcam.com/Metair14092023.
14 September 2023
Registrars
Computershare Investor Services (Pty) Ltd
Rosebank Towers, 15 Biermann Avenue,
Rosebank, 2196
Sponsor
One Capital
17 Fricker Road
Illovo, 2196
Investor relations
Instinctif Partners
EXECUTIVE DIRECTORS: S Douwenga (CEO); A Jogia (CFO)
INDEPENDENT NON-EXECUTIVE DIRECTORS: TN Mgoduso (Chairperson); B Mawasha (Lead Independent); PH Giliam;
N Medupe; NL Mkhondo; MH Muell (German); A Sithebe; S Sithole (Zimbabwean) (Alternate director to NL Mkhondo)
COMPANY SECRETARY: SM Vermaak
Date: 14-09-2023 07:09:00
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