ADCORP HOLDINGS LIMITED - Trading statement, operational update and results presentation

Trading statement, operational update and results presentation

ADCORP HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1974/001804/06
Share code: ADR
ISIN: ZAE000000139
("Adcorp" or the "Company" or the "Group")


TRADING STATEMENT, OPERATIONAL UPDATE AND RESULTS PRESENTATION


TRADING STATEMENT

In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements, a listed company is
required to publish a trading statement as soon as it becomes reasonably certain that the
financial results for the period to be reported on next will differ by at least 20% from the
financial results for year ended 29 February 2024 ("the previous corresponding period").

The Company hereby advises that a reasonable degree of certainty exists that for the year
ended 28 February 2025:

   –   Earnings per share ("EPS") will be between 126.3 cents and 143.1 cents, representing
       an increase of between 50.7% and 70.7% compared to EPS of 83.8 cents reported for
       the previous corresponding period; and

   –   Headline earnings per share ("HEPS") will be between 127.0 cents and 143.8 cents,
       representing an increase of between 51.6% and 71.6% compared to HEPS of 83.8
       cents reported for the previous corresponding period.

OPERATIONAL UPDATE

The Group has delivered a strong performance for the financial year, notwithstanding
persistent macroeconomic headwinds across its core markets in South Africa and Australia.
The uplift in earnings reflects both the benefits of early cost optimisation actions, restructuring
initiatives and the sustained operational discipline across the business.

While revenue growth was moderate, the Group achieved an improvement in margins,
demonstrating the impact of enhanced contract-level cost controls and better alignment
between commercial delivery and support costs. Adcorp's decentralised brand-led strategy
continues to support responsiveness in a complex operating environment, contributing to both
earnings growth and operational resilience.

Importantly, the Group's balance sheet remains ungeared, and the strong net cash position at
year-end underscores Adcorp's consistent focus on capital discipline and cash conversion.

During the year, the Group also accelerated the deployment of its digital enablement strategy.
Progress has been made in embedding AI technologies to drive efficiency across core
operations. These include AI-driven payroll automation and the ongoing integration of AI into
staffing operations. The early benefits of these initiatives are beginning to emerge and are
expected to underpin future scalability and competitiveness across the Group's service
offerings.

The financial information on which this trading statement is based has not been reviewed or
reported on by the Company's external auditors.
The audited results for the year ended 28 February 2025 are expected to be published on or
about Thursday, 29 May 2025.

RESULTS PRESENTATION

The results presentation will take place electronically on Thursday, 29 May 2025, at 10:00.
Should you be interested in attending please contact charissa.dejager@adcorpgroup.com and
a webcast link will be provided.


Johannesburg
19 May 2025

Sponsor
Valeo Capital (Pty) Ltd

Date: 19-05-2025 12:30:00
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