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TRENCOR LIMITED - Trading statement

Release Date: 15/05/2018 11:13
Code(s): TRE     PDF:  
Wrap Text
Trading statement

TRENCOR LIMITED
(Incorporated in the Republic of South Africa)
(Registration No 1955/002869/06)
Share Code: TRE
ISIN: ZAE000007506
(“Trencor”)

TRADING STATEMENT

Despite improving conditions in the container leasing market, a much stronger financial
performance and a return to positive headline earnings per share, Trencor will still be
reporting losses for the year ended 31 December 2017 as Trencor is required under IFRS
to further impair the container fleets owned by Textainer and TAC. No such impairments
were required by those companies reporting under US GAAP. These non-cash
impairments are the result of future cash flows associated with the container fleets being
discounted at a higher weighted average cost of capital than the rate used at 31 December
2016.

Shareholders are advised that Trencor’s headline earnings per share and loss per share for
the year ended 31 December 2017 are expected to be within the ranges set out below:
                                                                                    2016
                                                         2017 Expected            Actual
                                                  % change              cps          cps
Headline earnings/(loss) per share               123 - 130        100 - 130        (435)
Loss per share                                     86 - 78    (138) - (216)        (984)

The financial information on which this trading statement is based has not been reviewed
nor reported on by Trencor’s independent auditors.
On behalf of the board

Hennie van der Merwe
Chief Executive Officer

15 May 2018
Sponsor: Rand Merchant Bank (A division of FirstRand Bank Limited)

www.trencor.net

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