ONELOGIX GROUP LIMITED - Summary of the audited consolidated results for the year ended 31 May 2020

Summary of the audited consolidated results for the year ended 31 May 2020

OneLogix Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/004519/06)
JSE share code: OLG
ISIN: ZAE 000026399
("OneLogix" or "the company" or "the group")

Short-form announcement:
Summary of the audited consolidated results for the year ended 31 May 2020

HIGHLIGHTS
- Revenue down by 4% to R2,62 billion
- EBITDA down by 12% to R349,6 million
- HEPS and diluted HEPS down by 46% to 17,1 cps
- Core HEPS and diluted core HEPS down by 42% to 22,2 cps
- NAV up 7% to 402,3 cps
- NTAV up 7% to 334,6 cps
- Final completion of Umlaas phase 3 nears 15,5 million shares repurchased during year
- No dividend declared

This short-form announcement is the responsibility of the directors and is only a summary of the
information in the full announcement. None of the information in this announcement has been reviewed or
reported on by the company's auditors. The full announcement was released on SENS on Thursday,
17 September 2020, and can be found on the company's website at www.onelogix.com and can be
accessed using the following JSE link https://senspdf.jse.co.za/documents/2020/jse/isse/OLG/FY2020.pdf.
Copies of the full announcement may also be requested at the company's registered office and at the office
of the sponsor, at no charge, during office hours from 17 September 2020 to 24 September 2020. Any
investment decision should be based on the full announcement published on SENS and on the company's
website.

The consolidated annual financial statements have been audited by the company's auditors Mazars who
expressed an unmodified audit opinion thereon. Key audit matters identified in the auditors opinion were
the impact of the outbreak of Covid-19 on the going concern assumptions made by management, goodwill
valuation, valuation of property, plant and equipment as well as the initial application of IFRS 16.
The consolidated annual financial statements and the auditor's report are available at the company's
registered office and on the company's website
https://onelogix.com/documents/annualResults/OneLogixyear-end-results-booklet-2020.pdf.

For the first time in 11 years OneLogix is reporting a profit decline primarily due to the protracted listless
economic environment, and in the latter two months, the ramifications of the worldwide Covid-19 societal
lockdown.

Dividend
The board has decided that no dividend (2019: 11 cents) will be declared as the prevailing economic
circumstances demand particularly circumspect cash resource management. In addition, the group has
capital commitments relating to the finalisation of the Umlaas 3 development.

Financial summary
                                                
                                                                                     Restated1
                                                                          Audited     audited
                                                                             year        year
                                                                            ended       ended
                                                                  %        31 May      31 May
                                                  Notes      change          2020        2019
Revenue (R000's)                                                 (4)    2 622 382   2 740 092
Profit before taxation excluding                
capital items (R000's)                                          (51)       52 722     107 491
Profit before taxation (R000's)                                 (55)       48 475     107 560
Profit for the period (R000's)                                  (48)       46 784      89 851
Headline earnings (R000's)                                      (47)       40 957      77 247
Core headline earnings (R000's)                       2         (43)       53 187      93 014
Per share measures                              
Basic and diluted basic earnings                
per share (cents)                                               (55)         14,3        31,5
Headline and diluted headline                   
earnings per share (cents)                                      (46)         17,1        31,6
Core headline and diluted core                  
headline earnings per share (cents)                             (42)         22,2        38,0
Net asset value per share (cents)                                 7         402,3       377,6
Net tangible asset value per share (cents)                        7         334,6       312,1

Notes:
1. Restated for the effects of IFRS 16
2. Headline earnings (as calculated based on SAICA Circular 1/2019) adjusted for the amortisation
   charge of intangibles assets recognised on business combinations and charges relating to
   share-based payments.

By order of the board

Ian Lourens
CEO

Geoff Glass
FD

17 September 2020

Directors
LJ Sennelo (Chairperson)*#
NJ Bester
GM Glass (FD)
AJ Grant*#
IK Lourens (CEO)
CV McCulloch (COO)
IM Pule*
KV Ratshefola*#
K Schoeman*
* Non-executive
# Independent

Registered office
46 Tulbagh Road
Pomona
Kempton Park

PostNet Suite 10
Private Bag X27
Kempton Park
1620

Company secretary
CIS Company Secretaries (Pty) Ltd
Rosebank Towers
15 Biermann Avenue Rosebank
2191

PO Box 61673
Marshalltown
2107

Transfer secretaries
Computershare Investor Services (Pty) Ltd
Rosebank Towers
15 Biermann Avenue Rosebank
2191

PO Box 61051
Marshalltown
2107

Sponsor
Java Capital
6th Floor
1 Park Lane
Wierda Valley (Entrance at 39 Wierda Road West)
Sandton
2196
JHB






Date: 17-09-2020 07:30:00
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