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Trading Statement And Publication Date Of The Financial Results For The Year Ended 31 December 2021
CURRO HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration No. 1998/025801/06)
JSE Equity Alpha Code: COH
ISIN: ZAE000156253
JSE Debt Alpha Code: COH1
(“Curro” or “the Company”)
TRADING STATEMENT AND PUBLICATION DATE OF THE FINANCIAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2021
In terms 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
next period to be reported on will differ by 20% or more from the financial results for the
previous corresponding period. The Company hereby advises that it expects the financial
results for the year ended 31 December 2021 to fall within the following ranges:
Reported results Forecast
for the year ended for the year ended
31 December 2020 31 December 2021
cents cents change
Recurring headline
Increase of between
earnings per share 38.0 39.0 to 43.0
2.6% and 13.2%
(RHEPS)
Headline earnings Increase of between
36.4 39.0 to 43.0
per share (HEPS) 7.1% and 18.1%
Increase from a loss of
Earnings / (Loss) per 6.5 cents to earnings of
(6.5) 41.0 to 45.0
share (EPS) between 41.0 cents and
45.0 cents
In evaluating these results, shareholders should take the following into account:
• Recurring headline earnings will increase by between 30.3% and 43.7% from
R179 million in the previous financial year and headline earnings will increase by
between 36.0% and 50.0% from R171 million in the previous financial year.
• The rights offer in September 2020 resulted in an additional 27% weighted average
shares in issue during the financial year ended December 2021 compared to the
previous financial year, which consequently reduce the respective earnings per share
figures meaningfully. The company had 597 961 595 shares in issue throughout the 2021
financial year, compared to a weighted average of 470 998 749 shares for the previous
comparable period.
• Curro recognised impairments of R207 million (net of tax) in the previous financial year,
relating to lower-yielding school assets. These impairment charges were included in the
calculation of EPS, but are added back for purposes of the calculation of HEPS, and
accordingly accounted for the key difference between HEPS and EPS in the previous
financial year.
Results announcement
The Company is currently finalising its financial results for the year ended 31 December 2021.
These results will be published on Wednesday, 23 February 2022 and a webcast of the
results presentation is scheduled for 10:30 on Wednesday, 23 February 2022.
The financial information on which this trading statement is based has not been reviewed or
reported on by the auditor of the Company.
Durbanville
3 February 2022
Equity and Debt Sponsor
PSG Capital
Independent Joint Equity Sponsor
UBS South Africa
Date: 03-02-2022 04:50:00
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