Wrap Text
Unaudited condensed consolidated interim financial results for the six months ended 31 December 2022
York Timber Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1916/004890/06)
JSE share code: YRK
ISIN: ZAE000133450
("York" or the "Company")
Unaudited condensed consolidated interim financial results
for the six months ended 31 December 2022
Results overview
- Revenue down by 7% to R902 million*
- Adjusted EBITDA (earnings before interest, taxation, depreciation,
amortisation, impairment and fair value adjustment on biological assets) down
by R80 million*
- Debt reduced by R96 million. Net debt stands at R365 million. Debt to
adjusted EBITDA was at 8,6 times
- Cash generated from operations decreased by 32% from R120,5 million* to
R81 million
- Biological asset value at R2 899 million
- Net working capital decreased by 6% to R108 million
- Earnings per share decreased from 17,04* cents to 11,89 cents per share
- Headline earnings per share decreased from 17,11* cents to 11,90 cents per
share
- Core earnings per share decreased from 10,55* cents to a loss of 7,31 cents
per share
- Net asset value per share increased from 962* cents per share to
965 cents per share
- No dividend has been declared for the six months ended 31 December 2022
(2021: Rnil)
* The prior period figures have been restated. Refer to note 12 to the
unaudited condensed consolidated interim financial statements.
About this short-form announcement
This short-form announcement is the responsibility of the board of
directors of the Company (Board) and is only a summary of the information
in the full announcement and does not contain full or complete details. Any
investment decision by investors and/or shareholders should be based on
consideration of the full announcement. The full announcement is accessible via
the following JSE link:
https://senspdf.jse.co.za/documents/2023/jse/isse/YRK/Interim23.pdf
and can be found on the Company's website at
https://www.york.co.za/downloads/Yorkinterim2023.pdf.
Copies of the full announcement may also be requested at the Company's
registered office and at the office of our sponsor, One Capital, at no charge,
on Mondays to Fridays, during office hours.
On behalf of the Board
Gabriël Stoltz
Chief Executive Officer and interim Chief Financial Officer
30 March 2023
Executive director: Gabriël Stoltz (CEO and interim CFO)
Non-executive directors: Nonzukiso Siyotula* (Chairperson)
Hetisani Mbanyele-Ntshinga*, Maxwell Nyanteh*, Andries Brink*
André van der Veen, Lindani Dhlamini*, Alton Solomons, Adrian Zetler
(* independent)
Registered office: York Corporate Office, 3 Main Road, Sabie, Mpumalanga
Postal address: PO Box 1191, Sabie, 1260
Auditor: Deloitte & Touche
Company Secretary: Kilgetty Statutory Services (South Africa) Proprietary Limited
Sponsor: One Capital
17 Fricker Road, Illovo, Johannesburg, 2196
Transfer secretaries: Computershare Investor Services Proprietary Limited
www.york.co.za
Date: 30-03-2023 03:00:00
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