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Trading statement
METAIR INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1948/031013/06
JSE share code: MTA
ISIN: ZAE000090692
(“Metair” or the “Company”)
TRADING STATEMENT
In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements, companies are 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 period to be reported will differ by at least 20% from the financial
results for the previous corresponding period.
Metair is in the process of finalising their results for the six months ending 30 June 2016 (“Results”)
and shareholders are accordingly advised that the Company expects to report:
- headline earnings per share to be between 50% and 59% lower (between 45 cents and 55
cents per share) than the 111 cents per share for the previous corresponding period; and
- earnings per share to be between 51% and 60% lower (between 45 cents and 55 cents per
share) compared to the 112 cents per share for the previous corresponding period.
As mentioned in the Company’s outlook statement in the 2015 Integrated Annual Report, Metair is still
in a redesign, growth and renewal phase. The Energy Storage vertical is leading the redesign and
growth phase and the Automotive Component vertical is leading the renewal phase, where the
Company has secured the business from our most significant customer for their new light commercial
vehicle. In the renewal phase, the first year has significant volume ramp-up complexities and variable
manufacturing activity, which impacts negatively on the Automotive Component’s business results in
the short term. This, together with an earlier than expected model mix change, has affected
manufacturing operating efficiencies resulting in higher operational costs in the Auto Component’s
business and consequentially group earnings. However a good performance from the Energy Storage
vertical is expected which will result in improved operating profit for this vertical, when compared to
the previous period.
Under normal conditions, we expect automotive production volumes to stabilise and manufacturing
efficiency to improve in the Automotive Component business during the second half of the year.
However, uncertainty remains regarding the full year auto volumes and efficiencies, especially with
the possibility of industrial action at vehicle and component manufacturers.
The financial information on which this trading statement is based has not been reviewed or reported
on by the Company's external auditors. The Results will be announced on or about Wednesday,
17 August 2016 and further details on the Company’s operational and financial performance will be
provided.
21 June 2016
Johannesburg
Sponsor
One Capital
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