STADIO HOLDINGS LIMITED - Results For The Year Ended 31 December 2019

Results For The Year Ended 31 December 2019

STADIO HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2016/371398/06)
Share code: SDO
ISIN: ZAE000248662
LEI: 3789007C8FB26515D966
(“STADIO” or “the Company”)


RESULTS FOR THE YEAR ENDED 31 DECEMBER 2019

1. HIGHLIGHTS

•    Student numbers increased from 29 885 to 31 869 (7%)
•    Revenue increased from R633m to R815m (29%)
•    Earnings before interest, taxation, depreciation and amortisation (EBITDA) increased
     from R129 m to R180m (40%)
•    Earnings per share increased from 7.8 cps to 8.5 cps (9%)
•    Headline earnings per share increased from 7.8 cps to 8.5 cps (9%)
•    Core Headline Earnings* increased from R70 m to R88m (26%)
•    Core Headline Earnings per share increased from 8.6 cps to 10.8 cps (26%)
•    Net asset value per share decreased from 202 cps to 192 cps (-5%)
•    The Stadio Group has 93 accredited qualifications and 45 pipeline programmes that are
     in the process of development/accreditation
•    Effective 1 October 2019, the Group acquired, by way of a share repurchase, the
     remaining 26% shareholding in Southern Business School (Pty) Ltd, for a purchase
     consideration of R155.5m.

     * Core Headline Earnings reflects Headline Earnings adjusted for certain items that, in the Board’s view, may
     distort the financial results from year-to-year, giving management a more consistent reflection of the underlying
     financial performance of the Group. These core adjustments include once-off acquisition related costs,
     amortisation costs associated with client lists acquired (i.e. a non-cash charge arising as a result of the
     consolidation of the subsidiaries acquired), and adjustments to contingent consideration payable in respect of
     various acquisitions concluded.

2.   SHORT-FORM ANNOUNCEMENT

     This short-form announcement is the responsibility of the directors of the Company. It
     contains only a summary of the information in the results for the year ended 31 December
     2019 (“Full Announcement”) and does not contain full or complete details.

     The Full Announcement can be found at:
     https://senspdf.jse.co.za/documents/2020/JSE/ISSE/SDOE/Final 19.pdf

     Copies of the Full Announcement are also available for viewing on the Company’s website
     at https://stadio.co.za/financial-reports/ or may be requested in person, at the Company’s
     registered office or the office of the sponsor, at no charge, during office hours.

     Any investment decisions by investors and/or shareholders should be based on
     consideration of the Full Announcement, as a whole.

     These annual results for the year ended 31 December 2019 have been audited by the
     Company’s auditors, PricewaterhouseCoopers Inc. who expressed an unmodified audit
     opinion thereon. The audit opinion also includes communication of key audit matters. The
     audit opinion is available, along with the annual financial statements, and the summary
     financial results, on the Company’s website at https://stadio.co.za/financial-reports/.


Durbanville
5 March 2020

Sponsor
PSG Capital

Date: 05-03-2020 07:05:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.