BUILDMAX LIMITED - Trading statement for the year ended 28 February 2015

Trading statement for the year ended 28 February 2015

BUILDMAX LIMITED
Incorporated in the Republic of South Africa
(Registration No. 1995/012209/06)
Share Code: BDM
ISIN Code: ZAE000167318
("Buildmax" or “the Company”)


TRADING STATEMENT FOR THE YEAR ENDED 28 FEBRUARY 2015

In compliance with paragraph 3.4 of the Listings Requirements of the JSE Limited, a listed
company is required to publish a trading statement as soon as they are satisfied that a
reasonable degree of certainty exists that the financial results for the next period to be reported
on are likely to vary by more than 20% from the previous corresponding period. With reference to
the trading update on 28 August 2014, with further detail in the interim results published on
28 November 2014, shareholders are hereby advised that, for the year ended 28 February 2015,
Buildmax expects:

-     basic loss per share to be between 113.16 and 119.84 cents, decreasing by between 439%
      and 459% from the prior year’s earnings of 33.4 cents, with basic loss per share from
      continuing operations of between 63.19 cents and 69.81 cents, decreasing by between 291%
      and 311% from the prior year’s earnings of 33.3 cents; and

-     headline loss per share to be between 71.71 and 78.29 cents, decreasing by between 318%
      and 338% from the prior year’s earnings of 32.9 cents, with headline loss per share from
      continuing operations of between 54.24 cents and 60.76 cents, decreasing by between 266%
      and 286% from the prior year’s earnings of 32.8 cents.

The loss is mainly attributable to a substantial decline in the demand for outsourced contract
mining and bulk earthworks services driven largely by the decline in international demand for
export coal, certain onerous contracts, the decline in coal volumes to Eskom and ongoing
difficulties facing the global mining industry as well as the South African contracting industry.
Trading results have also been negatively impacted by poor demand and related prices for
second hand plant.

During the reporting period, Buildmax used the opportunity and absorbed non-recurring costs, to
‘right size’ the Company and reduce its concentration in the coal industry by diversifying into less
asset intensive business ventures. Prospects for 2016 are significantly better, largely as a result
of the annualised impact of new business won at improved margins, leveraging existing assets
and the termination of the remaining loss making contracts. This performance will be
underpinned by an expected tangible net asset value (TNAV) per share of between R2.46 and
R2.52 as at 28 February 2015.

The contents of this trading statement and the financial information on which it has been based
have not been reviewed or reported on by the Company’s auditors.
Shareholders are advised that the audited results for the year ended 28 February 2015 will be
released before the end of May 2015.

Benoni
20 May 2015


Sponsor to Buildmax
Questco (Pty) Ltd

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