ADVANCED HEALTH LIMITED - Unaudited condensed consolidated interim financial statements for the six months ended 31 December 2019

Unaudited condensed consolidated interim financial statements for the six months ended 31 December 2019

ADVANCED HEALTH LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2013/059246/06)
(“the Company” or “Advanced”)
ISIN Code: ZAE000189049        JSE Code: AVL


 UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE
 SIX MONTHS ENDED 31 DECEMBER 2019


- Advanced sold 25.1% of its shareholding in Presmed, for a total transaction consideration of AUD5.8 million (R58.3
  million) reducing Advanced’s share in Presmed from 86.5% to 61.4%. The sale is still subject to shareholders
  approval.

Including IFRS 16 in 2019
- Revenue increased by 9% to R265.5 million (2018: R244.1 million).
- EBITDA improved by greater than 100% to R38.2 million (2018: R4.6 million).
- Loss for the period increased by 49% to R23.1 million (2018: R15.5 million).
- Basic and headline loss per share from both continuing and discontinued operations increased by 20% to 7.47
    cents (2018: 6.21 cents).
- Cash generated from operations increased by greater than 100% to R43.9 million (2018: R16.8 million).
- Cash flows from financing activities decreased by greater than 100% to a negative R8.7 million (2018: R20.7
    million).

Like-on-like excluding IFRS 16 in both years
- Revenue increased by 9% to R265.5 million (2018: R244.1 million).
- EBITDA improved by greater than 100% to R14.9 million (2018: R4.6 million).
- Loss for the period decreased by 40% to R9.3 million (2018: R15.5 million).
- Basic and headline loss per share from both continuing and discontinued operations (pre-adjusted IFRS 16)
    decreased by 40% to 3.75 cents (2018: 6.21 cents).
- Cash generated from operations increased by 23% to R20.6 million (2018: R16.8 million).
- Cash flows from financing activities decreased by 29% to R14.6 million (2018: R20.7 million).

No dividend is proposed or recommended for the six-month period ended 31 December 2019.

Short-form announcement
The contents of the short-form announcement are the responsibility of the Board of Directors of Advanced Health
Limited. The information in the short-form announcement is a summary of the full announcement and accordingly
does not contain full or complete details. The full announcement is available for inspection at no charge, Monday to
Friday, during office hours at the company’s registered office, the office of the Designated Advisor and on the
Company’s website on http://www.advancedhealth.co.za/ from 27 February 2020. The full announcement is available
on SENS from 27 February 2020 at https://senspdf.jse.co.za/documents/2020/jse/isse/AVL/DEC2019AVL.pdf.
The information in this announcement has been extracted from the unaudited condensed consolidated interim
financial statements for the six months ended 31 December 2019 and the short-form announcement itself has not
been reviewed by the Company’s auditors. Any investment decisions by shareholders/investors should be based on
the full announcement released to the JSE and published on the Company’s website.

CORPORATE INFORMATION
Advanced Health Limited                                        Registered Address:
(Incorporated in the Republic of South Africa)                 Building 3, Walker Creek Office Park
Registration number: 2013/059246/06                            90 Florence Ribeiro Avenue
ISIN: ZAE000189049 JSE Code: AVL                               Muckleneuk
                                                               0002
                                                               Postnet Suite 668, Private Bag X1
                                                               The Willows, 0041
 Executive directors                                           Non-Executive Directors
 GJ van Emmenis (Chief Executive Officer)                      FA van Hoogstraten (Lead Independent)
 S Chonco (Chief Financial Officer)                            CA Grillenberger (Chairman)
 MC Resnik# (Chief Operational Officer Australia)              PJ Jaffe#
 D Goss-Ross (Alternate)                                       CJPG van Zyl
                                                               Dr WT Mthembu
                                                               Dr J Oelofse
                                                               YJ Visser
                                                               K Legodi

# Australian

Company Secretary:      M Janse van Rensburg
Auditors:               Mazars
Transfer Secretaries:   Link Market Services Proprietary Limited

Date of announcement: 27 February 2020
Designated Advisor
Grindrod Bank Limited

Date: 27-02-2020 07:05:00
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