ASCENDIS HEALTH LIMITED - Voluntary trading statement

Voluntary trading statement

Ascendis Health Limited
(Registration number 2008/005856/06)
(Incorporated in the Republic of South Africa)
Share code: ASC
ISIN: ZAE000185005
(“Ascendis” or “the Company”)


VOLUNTARY TRADING STATEMENT

In terms of paragraph 3.4(b) of the JSE Limited’s Listings Requirements, Ascendis shareholders are
hereby advised that the Company’s basic earnings, headline earnings and earnings per share for the
financial results from continuing operations for the six months ended 31 December 2017 (“the period”)
are expected to be more than 20% higher than the previous corresponding period. The normalised
earnings and earnings per share are expected to be in the ranges shown below.

The following table outlines the earnings ranges anticipated relative to the comparative period.

Shareholders will note that owing to the 12% increase in the weighted average number of shares
during the period, the “per share” measures reflect a lower percentage increase than the Rand value
of earnings.

 Continuing Operations                       6 months ended        6 months ended        % increase/
                                               31 December           31 December         (decrease)
                                                   2017                  2016
 Normalised headline earnings                R329m – R365m              R294m            12% – 24%

 Normalised headline earnings per share           74 – 78 cents        71 cents           4% – 10%
 (“NHEPS”)
 Basic earnings                               R230m – R251m             R177m            30% – 42%

 Basic earnings per share (“EPS”)                 52 – 54 cents        43 cents          20% – 26%

 Headline earnings                            R238m – R256m             R175m            36% - 46%

 Headline earnings per share (“HEPS”)             52 – 55 cents        42 cents          24% - 30%


 Total Operations                            6 months ended        6 months ended        % increase/
                                               31 December           31 December         (decrease)
                                                   2017                  2016
 Normalised headline earnings                R300m – R335m              R291m             3% – 15%

 Normalised headline earnings per share           67 – 72 cents        70 cents           (5)% – 3%
 (“NHEPS”)
 Basic earnings                               R202m – R223m             R173m            17% – 29%

 Basic earnings per share (“EPS”)                 44 – 47 cents        42 cents           5% – 13%

 Headline earnings                            R207m – R227m             R171m            21% - 33%

 Headline earnings per share (“HEPS”)             45 – 48 cents        41 cents          10% - 17%


Notes:
   1. During the period one of the Company’s manufacturing plants met the requirements for
       classification as a discontinued operation in terms of International Financial Reporting
       Standards (IFRS) as reported in June 2017. This relates to a synergy project to consolidate
       manufacturing operations in South Africa to improve operating efficiencies. Earnings for the
      comparative period ended 31 December 2016 for “Continuing Operations” have been restated
      accordingly.
   2. Normalised headline earnings comprise basic earnings adjusted for specific non-trading items
      and once-off costs of approximately R27m (R73m comparative period to December 2016)
      which comprised predominantly transaction and financing costs related to the acquisitions of
      SunWave, Cipla and Kyron.
   3. Normalised headline earnings and NHEPS have been restated to no longer add back notional
      interest on deferred vendor liabilities.

The financial information on which this trading statement is based has not been reviewed or reported
on by the Company’s auditors.

Shareholders are advised that the results for the six months ended 31 December 2017 are scheduled
to be released on SENS on 01 March 2018, to be presented to investors in Cape Town on 1 March
2018 and in Johannesburg on 2 March 2018 (refer to www.ascendishealth.com for details on the
results presentation). Management will provide details on the performance of recent local and
international acquisitions in the investor presentations.

31 January 2018
Johannesburg

Sponsor
Questco Corporate Advisory (Pty) Ltd

Date: 31/01/2018 12:19:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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