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Voluntary Trading Statement
Insimbi Refractory and Alloy Supplies Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2002/029821/06)
Share code: ISB ISIN: ZAE000116828
(“Insimbi” or “the Company”)
VOLUNTARY TRADING STATEMENT
As provided for in terms of paragraph 3.4(b) of the Listings Requirements of the JSE Limited, the board of
directors of Insimbi (“the Board”) hereby provides shareholders with a voluntary trading statement in respect
of the Company’s financial results for the year ended 28 February 2017.
The Company anticipates that the following results will be achieved:
F2017 Compared to F2016 Second half F2017 Comparison with
YOY first half F2017
Revenue up between 36% and R955.1 million up between 75% R480.0 million
46% and 85%
Gross profit up between 44% and R125.0 million up between 67% R68.6 million
54% and 77%
EBITDA up between 49% and R53.1 million up between 124% R24.5 million
59% and 142%
F2017 F2016 Comparison
Cents per share Cents per share F2016/F2017
Earnings per share (EPS) down to between 12.43 decrease of between
10.07 cents and 11.06 19% and 11% per
cents share
Headline earnings per share (HEPS) down to between 12.42 decrease of between
10.06 cents and 10.87 19% and 12% per
cents per share share
As advised on 13 December 2016, the acquisition of the Amalgamated Metals Recycling group of
companies (“AMR”) has been finalised and the integration of the two businesses has progressed smoothly.
AMR’s results will be consolidated into the Insimbi group results for the last two and half months of the
financial year. Given the short effective period post acquisition of AMR it is anticipated that the full impact of
the transaction on the Insimbi group will only become evident in the current financial year ending 28
February 2018.
The final results have been impacted by –
- Once-off costs relating to the AMR acquisition as well as finance costs relating thereto;
- As anticipated in the release of Insimbi’s interim results on 10 November 2016, a large customer,
Steloy Castings Proprietary Limited is now in liquidation. Insimbi has provided for 100% of the R10
million owing as it is unclear what portion, if any, of the amount due will be recovered; and
- The volatility of the ZAR against foreign currencies but, in particular, the USD and the Euro, has
resulted in a reversal of previous foreign exchange gains.
The financial information on which this trading statement is based has not been reviewed by the Company’s
auditors. The Company’s financial results will be released on or about 24 May 2017.
By order of the Board.
Johannesburg
19 April 2017
Sponsor: Bridge Capital Advisors Proprietary Limited
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