ASCENDIS HEALTH LIMITED - Trading statement

Trading statement

ASCENDIS HEALTH LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2008/005856/06)
Share code: ASC ISIN: ZAE000185005
(“Ascendis” or “the Company”)

TRADING STATEMENT

In terms of paragraph 3.4(b) of the JSE Limited’s Listings Requirements, Ascendis shareholders are
hereby advised that the Company’s financial results for the twelve months ended 30 June 2017 are
expected to be more than 20% higher than the previous corresponding period.

The table below illustrates the ranges anticipated against the comparative period:

 Continuing Operations                            12 months         12 months         % increase/
                                                    ended             ended           (decrease)
                                                 30 June 2017      30 June 2016

                                                                     reported
 Normalised headline earnings                R612m – R652m            R336m           82% – 94%

 Normalised headline earnings per share          148 – 159 cents     121 cents        22% – 31%
 (“NHEPS”)
 Basic earnings                              R342m – R367m            R159m          115% – 131%

 Basic earnings per share (“EPS”)                 83 – 89 cents       57 cents        45% – 56%

 Headline earnings                           R353m – R383m            R154m          129% - 149%

 Headline earnings per share (“HEPS”)             86 – 93 cents       56 cents        54% - 66%


 Total Operations                              12 months            12 months         % increase/
                                                 ended                ended           (decrease)
                                              30 June 2017         30 June 2016

 Normalised headline earnings                R571m – R612m            R336m           70% – 82%

 Normalised headline earnings per share          138 – 148 cents     121 cents        14% – 22%
 (“NHEPS”)
 Basic earnings                              R270m – R296m            R159m           70% – 86%

 Basic earnings per share (“EPS”)                 65 – 72 cents       57 cents        14% – 26%

 Headline earnings                           R310m – R340m            R154m          101% - 121%

 Headline earnings per share (“HEPS”)             75 – 82 cents       56 cents        34% - 46%


Notes:

   1. During the year under review one of the Company’s manufacturing plants met the
       requirements for classification as a discontinued operation in terms of International Financial
       Reporting Standards (IFRS). This relates to a project to consolidate manufacturing operations
       in South Africa to improve efficiency going forward. NHEPS, EPS and HEPS in respect of the
       comparative period ended 30 June 2016 for “Continuing Operations” have been restated
       accordingly.
   2. Normalised headline earnings comprise basic earnings adjusted for specific non-trading items
       and once-off costs. Once-off costs amounted to c.R175m and comprised predominantly of
       transaction and financing costs related to the acquisitions of Remedica, Scitec, Sunwave and
       Cipla concluded within the current financial period.
   3. The Remedica and Scitec acquisitions concluded in August 2016 (as per SENS
       announcement dated 26 August 2016) have only been consolidated for 11 months whilst the
       Sunwave and Cipla acquisitions concluded on 1 June 2017 (as per SENS announcements
       dated 6 March 2017 and 7 March 2017 respectively) have therefore only been consolidated
       for 1 month of the financial period. Post conclusion of the international acquisitions, Ascendis’
       non-South African earnings account for c.60% of its total earnings on a consolidated basis.
    4. Other than the shares issued and disclosed in the interim financial results for the six months
       ended 31 December 2016, no further shares were issued in the current financial period.

Despite a challenging trading environment, Ascendis is pleased with the overall resilient performance
of its diversified business model during the current financial period. The financial information on which
this trading statement is based has not been reviewed or reported on by the Company’s auditors.

Shareholders are advised that the results for the twelve months ended 30 June 2017 are scheduled to
be released on SENS on 12 September 2017, to be presented in Cape Town on 13 September 2017
and in Johannesburg on 14 September 2017.

24 August 2017

Johannesburg
Sponsor
Investec Bank Limited

Date: 24/08/2017 03:20:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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