Sharenet Sites 
Sharenet Sites
Trading Statement in respect of the six months ended 31 March 2021
Transaction Capital Limited TransCapital Investments Limited
(Incorporated in the Republic of South Africa) (Incorporated in the Republic of South Africa)
Registration number: 2002/031730/06 Registration number: 2016/130129/06
JSE share code: TCP Bond company code: TCII
ISIN: ZAE000167391
(“Transaction Capital” or “the group”)
TRADING STATEMENT IN RESPECT OF THE SIX MONTHS ENDED 31 MARCH 2021
In accordance with section 3.4(b) of the Listings Requirements of the JSE Limited, Transaction Capital advises
shareholders that basic earnings, basic earnings per share (“EPS”), headline earnings and headline earnings
per share (“HEPS”) are expected to be within the following ranges for the six months ended 31 March 2021:
Six months ended
Six months ended 31 March 2021 Six months ended
31 March 2021 (Expected percentage range 31 March 2020
(Expected number range) increase) (Actual reported)
Continuing earnings1
Basic earnings R424m to R437m 54% to 59% R275m
Basic EPS 63.2 cents to 65.4 cents 41% to 46% 44.8 cents
Headline earnings R429m to R443m 55% to 60% R277m
HEPS 64.2 cents to 66.4 cents 42% to 47% 45.2 cents
Core headline earnings2 R430m to R444m 53% to 58% R281m
Core HEPS2 64.6 cents to 66.9 cents 41% to 46% 45.8 cents
Total earnings1
Basic earnings R414m to R427m 60% to 65% R259m
Basic EPS 62.0 cents to 64.1 cents 47% to 52% 42.2 cents
Headline earnings R423m to R436m 62% to 67% R261m
HEPS 63.0 cents to 65.2 cents 48% to 53% 42.6 cents
Core headline earnings2 R424m to R437m 60% to 65% R265m
Core HEPS 63.5 cents to 65.7 cents 47% to 52% 43.2 cents
1. Earnings from continuing operations excludes the results from discontinued operations as reported on SENS on 13 May 2020.
2. Core headline earnings exclude once-off acquisition costs. It is management’s view that the most appropriate metric to
measure performance for the six months ended 31 March 2021 is core HEPS from continuing operations.
The improvement in results year-on-year is evidence of the group’s agile response to the strategic, financial
and operational implications of the COVID-19 pandemic. On balance, our businesses performed largely in line
with our expectation for the six months ended 31 March 2021. SA Taxi and Transaction Capital Risk Services
(“TCRS”) have proved resilient despite COVID-19 disruption experienced during the first half of the 2021
financial year, with pre-provision profits for this six-month period exceeding levels achieved for the six months
ended 31 March 2020, and most financial and operational metrics now nearing or exceeding pre COVID-19
levels. In addition, the acquisition of a non-controlling 49.9% interest in WeBuyCars in September 2020 has
been immediately value and earnings accretive.
PROSPECTS FOR THE FULL YEAR ENDED 30 SEPTEMBER 2021
Based on our current assessment of operating conditions and growth prospects, we expect the group to
continue its strong organic growth trend in the 2021 financial year. Headline earnings per share for the full
year should exceed financial year 2019 levels at rates in line with pre pandemic growth rates, with the group
resuming dividend payments this year.
SA Taxi, TCRS and WeBuyCars continue to demonstrate their resilience, relevance and responsiveness in an
environment still dominated by the effects of the COVID-19 crisis. With no further operational adjustments
required to accommodate pandemic-related restrictions, our divisional management teams have been able to
focus fully on their strategic organic growth initiatives. Our businesses are therefore well positioned to drive
organic growth, despite uneven rates of recovery in their markets. Their highly relevant business models and
leading positions in market sectors with defensive characteristics underpin our expectations for growth and
returns for the full year ended 30 September 2021, and beyond.
INTERIM RESULTS ANNOUNCEMENT
Transaction Capital’s results for the six months ended 31 March 2021 will be released on SENS on Wednesday,
12 May 2021.
Shareholders are advised that the information contained in this announcement has not been reviewed or
reported on by the group’s auditors.
Hyde Park
5 May 2021
Enquiries:
Nomonde Xulu - Investor Relations
Email: nomondex@transactioncapital.co.za
JSE Sponsor and Equity Markets Broker: Investec Bank Limited
Debt Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 05-05-2021 04:50:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
