EDCON LIMITED - Edcon additonal disclosure including comparitive historical data

Edcon additonal disclosure including comparitive historical data

Edcon Holdings Limited
Incorporated in the Republic of South Africa
Registration number 2006/036903/06
Company code: BIEDC1
(“Edcon”)


Additional disclosure including comparative historical data
On the 24th October 2013, Edcon released its preliminary
financial results for the 13-week period ended 28 September
2013. This included a change to pro forma adjusted EBITDA as it
relates to the sale of the trade receivables book from adjusting
for the “percentage of the book actually sold” - which requires
a constant updating of comparatives, to adjusting for “100% of
the book” - ensuring reported numbers remain comparable in the
future. To this end the financial year 2013 pro forma adjusted
EBITDA numbers, adjusting for 100% of the book, are disclosed by
quarter below:

                                   13
               52    52     13            13    13     52        13
                                 weeks
             weeks weeks weeks          weeks weeks weeks      weeks
                                 ended
             ended ended ended          ended ended ended      ended
                                   29
             2 Apr 31 Mar 30 Jun       29 Dec 30 Mar 30 Mar   29 Jun
                                  Sept
              2011  2012   2012          2012  2013   2013      2013
(R millions)                      2012

Adjusted
             3 624 4 041    852   728  1 361   390    3 331    715
EBITDA*
Net income
from
             (1 040 (1 197
previous                   (245) (364) (93)    (36)   (738)     3
                )      )
card
programme
Net income
from new
              314    227    62     76    15     14    167       9
card
programme
Pro forma
                 2      3
adjusted                    669   440  1 283   368    2 760    727
              898    071
EBITDA
LTM Adjusted
                                                              2 818
EBITDA
Permanent
                                                               226
adjustments
LTM Pro
forma                                                         3 044
Adjusted
EBITDA
* Adjusted EBITDA for FY13 has been changed to include the
results of Edgars Zimbabwe. Due to the negligible impact of our
consolidation of Edgars Zimbabwe (which contributes less than 5%
to Adjusted EBITDA), we have not made adjustments to our
historical consolidated financial information for fiscal year
2011 and 2012 while 1Q:FY14 reported includes Edgars Zimbabwe.

As of 28 September 2013, Edcon has drawn R1,406 million under
our super senior revolving credit facility.


6 November 2013
Debt Sponsor
Rand Merchant Bank (A division of FirstRand Bank Limited)

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