THE BIDVEST GROUP LIMITED - The Bidvest Group Limited, Update and Investor Day June 8, 2017

The Bidvest Group Limited, Update and Investor Day – June 8, 2017

THE BIDVEST GROUP LIMITED
(“Bidvest”)
(Registration number 1946/021180/06)
Share code: BVT
ISIN ZAE 000117321


THE BIDVEST GROUP LIMITED, UPDATE AND INVESTOR DAY – JUNE 8, 2017


Shareholders and interested parties are advised that Bidvest will be hosting investor sessions and a
pre-close operational update today at 10:00 (SA time). An audio recording will be available for
replay, shortly after the event, at www.bidvest.co.za.

Trading environment

Post the expected improved trading environment in 3QFY17, market conditions have deteriorated as
reflected in lowered business and consumer confidence. In view of the volatile socio-political
outlook and the weaker than expected macro-economic environment, we now expect more
challenging trading conditions for the rest of calendar 2017. With many government departments,
State Owned Enterprises and parastatals in flux, the finalising and closing of contracts is challenging.

Against this backdrop, trading results to date have been satisfactory. The quality of earnings remains
high.

The annuity income type businesses delivered solid results, while those inherently linked to
construction and infrastructure development have done well to hold their own. The lack of industrial
project related work is weighing on some businesses. Demand is subdued in the Automotive and
Office & Print divisions. Significantly reduced fishing quotas remain an ongoing concern in Bidvest
Namibia.

Mark-to-market gains on the investment portfolio and improved results from the larger associate
companies, which are reported in the Corporate office, have been pleasing.

Costs remain well controlled and asset management is to be commended. A material capex
investment in fuel tanks in Richards Bay has been completed and commissioned. The construction of
additional multi-purpose tanks is currently on the go.

Bidvest remains committed to monetising its non-core assets in a value-accretive and responsible
manner. Discussions are ongoing. During April 2017, Bidvest disposed of some Bidcorp shares.

Prospects

The macroeconomic environment is South Africa remains a major concern.

Bidvest’s financial position remains sound and cash generation continues to be strong. Our ongoing
strategy of acquiring bolt-on companies that add additional value to existing Bidvest entities is
continuing. We retain adequate headroom to accommodate larger acquisitive and organic expansion
opportunities, which we are actively seeking, both locally and internationally.
This announcement and any forward looking statements have not been reviewed by the auditors.

Date: June 08 2017

Johannesburg

Sponsor: Investec

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