METAIR INVESTMENTS LIMITED - Condensed unaudited consolidated interim results for the six months ended 30 June 2022

Condensed unaudited consolidated interim results for the six months ended 30 June 2022

METAIR INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Reg No. 1948/031013/06)
Share code: MTA    ISIN code: ZAE000090692
("Metair" or "the group" or "the company")   

CONDENSED UNAUDITED CONSOLIDATED INTERIM RESULTS
FOR THE SIX MONTHS ENDED 30 JUNE 2022   

- Consolidated group assessed at B-BBEE Level 1 and South African subsidiaries at Level 4 or better   
- Non-cash impact of hyperinflation accounting (IAS29) for Mutlu Aku in Turkiye significantly impacted results
- EBITDA reported of R300 million (R743 million on a normalised basis#)
- Ford investment for the group approved with 4 400 jobs created

#Normalised metrics represent management's view of core earnings, after eliminating once-off items and the non-cash impact of hyperinflation accounting

Shareholders are advised to refer to the full interim results announcement (which may be accessed via the links provided below) 
for commentary in respect of the results for the six months ended 30 June 2022.   

HIGHLIGHTS   

- HEADLINE EARNINGS PER SHARE decreased 74% to 45 cents per share   
- NORMALISED HEADLINE EARNINGS PER SHARE# decreased by 11% to 152 cents per share   
- Return to production of our major customer following the Durban floods

                                          Six months ended      Year-ended
                                        30 June      30 June   31 December
                                           2022         2021          2021
                                      Unaudited    Unaudited       Audited    Change
                                          R'000        R'000         R'000         %
Revenue                               5 821 975    5 934 173    12 621 070       (2)
Operating profit                        144 379      544 821     1 159 039      (73)
EBITDA before impairment                300 379      701 149     1 409 157      (57)
Headline earnings per share (cents)          45          170           354      (74)
Earnings per share (cents)                   41          170           350      (76)
No. of shares in issue ('000)           198 986      198 986       198 986         -
Net asset value per share (cents)         2 536        2 023         1 946        25
Cash (utilised)/generated from
operations                            (359 695)      273 134       648 930     (232)

NO DIVIDEND IS BEING DECLARED FOR THE SIX MONTHS ENDED 30 JUNE 2022 (30 JUNE 2021: NIL).   

ADDITIONAL INFORMATION   

This short-form announcement is the responsibility of the directors and is only a summary of the information in the full announcement and does not 
contain full or complete details. 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. Any investment decisions by investors and/or shareholders 
should be based on the full announcement that has been published on SENS today, 15 September 2022 https://senspdf.jse.co.za/documents/2022/JSE/ISSE/MTA/interim22.pdf 
and is also available on our website: https://www.metair.co.za/wp-content/uploads/2022/09/Metair-Interims-Sept-2022-WEB.pdf.

An investor and analyst webcast of the interim results presentation will be broadcast on Thursday, 15 September 2022 at 11:00 (SAST), which presentation will be 
available on the company's website: https://www.metair.co.za/wp-content/uploads/2022/09/Interim-2022-Presentation.pdf. Investors and analysts are advised to utilise 
the following link to gain access to the webinar: https://www.corpcam.com/Metair15092022.

The full announcement is also available at our registered office and our sponsor's office for inspection, at no charge, during office hours.

Registrars                                            
Computershare Investor Services (Pty) Limited         
Rosebank Towers, 15 Biermann Avenue, Rosebank, 2196   

Sponsor                         
One Capital                     
17 Fricker Road, Illovo, 2196   

Investor relations    
Instinctif Partners   

15 September 2022   

EXECUTIVE DIRECTORS: R Haffejee (CEO); S Douwenga (CFO)                                                                 
INDEPENDENT NON-EXECUTIVE DIRECTORS: CMD Flemming (Chairman); TN Mgoduso (Lead Independent);                            
P Giliam; B Mathews; B Mawasha; N Mkhondo; MH Muell (German); A Sithebe; S Sithole (Alternate director to N Mkhondo)   
COMPANY SECRETARY: SM Vermaak                                                                                           




Date: 15-09-2022 07:05:00
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