Wrap Text
Condensed consolidated unaudited financial results for the six months ended 30 September 2020
Sephaku Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2005/003306/06)
Share code: SEP
ISIN: ZAE000138459
(“SepHold” or the “Company”)
Condensed consolidated unaudited financial results for the six months ended 30 September 2020
Short form announcement
SepHold hereby reports on the condensed consolidated unaudited financial results for the six months ended 30
September 2020 (“Interim Results”). SepHold, Métier Mixed Concrete (Pty) Ltd (“Métier” or “the subsidiary”)
and Dangote Cement SA (Pty) Ltd (“SepCem” or “the associate”) are collectively referred to as the Group.
SALIENT POINTS
SepHold¹
- Group consolidated revenue: R291,1 million (H1 2020: R425,8 million)
- SepCem 36% equity accounted loss: R30,1 million (H1 2020: loss R7,8 million)
- Net loss after tax: R29,6 million (H1 2020: net loss after tax R7,7 million)
- Basic loss per share: 11.65 cents (H1 2020: basic loss per share: 3.70 cents)
- Headline loss per share: 13.47 cents (H1 2020: headline loss per share: 4.11 cents)
- Net asset value per share: 421.08 cents (H1 2020: 518.51 cents)
Métier¹
- EBITDA margin: 9.4% at R27,4 million (H1 2020: 7.0% at R29,9 million)
- EBIT margin: 5.5% at R15,9 million (H1 2020: 4.0% at R17,2 million)
- Net profit after tax: R7,5 million (H1 2020 net profit after tax: R7,7 million)
SepCem²
- Sales revenue: R883,7 million (H1 2019: R996,9 million)
- EBITDA margin: 6.8% at R59,8 million (H1 2019: 15.2% at R151,5 million)
- EBIT margin: nil at a loss of R0,95 million (H1 2019: 6.2% at R61,5 million)
- Net loss after tax: R83,7 million (H1 2019 net loss after tax: R21,6 million)
¹ Figures refer to the interim period ended 30 September 2020 for FY 2021 ending 31 March 2021 and H1 2020 refers to the six months ended 30 September 2019 for the financial year-
ended 31 March 2020.
² SepCem has a December year-end as a subsidiary of Dangote Cement PLC, therefore the figures refer to the six months ended 30 June 2020 and H1 2019 for the interim ended 30 June
2019.
Remarking on the results, Chief Executive Officer, NR Crafford-Lazarus said,
“We are pleased with the significant increase in SepCem’s sales volumes since May 2020 that have provided the
much-needed impetus to reduce the negative impact of the COVID-19 related national lockdown. SepCem
management is working tirelessly to fully capture this window of opportunity whose longevity is uncertain.
Although not at the same magnitude, Métier’s volumes have been steadily increasing during the interim period
and has remained profitable despite the sharp volume decline.
Operational management has responded effectively to the unprecedented challenges of the pandemic by
implementing cost-saving initiatives to support profitability. The revised terms with the lenders have enabled the
group to focus on critical operational processes to weather the impact of the pandemic. Strengthening the
balance sheets continues to be a key priority for the Group as we remain cautiously optimistic about demand.
Finally, from March 2020 to date, the Group has diligently applied stringent health and safety measures to limit
the exposure of employees to the COVID-19 virus in the workplace.”
No dividends were declared or paid during the period under review or during the six months ended 30
September 2019.
Investor results presentation conference call
A results conference call for investors will be at 11:30hs CAT on 16 November 2020. Registration is required and
can be done using the following link to obtain the dial-in details: SepHold interim results conference call
registration link
The results presentation can be downloaded from the Company website from 11:00hs on 16 November 2020
on the following link: https://sephakuholdings.com/investor-centre/presentations/
Conference replay
South Africa: 010 500 4108
UK: 0 203 608 8021
Australia: 073 911 1378
USA: 1 412 317 0088
International: +27 10 500 4108
Replay Access Code: 37576
Forward-looking statements
Any forward-looking information is the responsibility of the board of directors and has not been reviewed or
reported on by the company’s external auditors.
Directors statement
The contents of this short-form announcement are the responsibility of the board of directors of the Company.
Shareholders are advised that this short-form announcement represents a summary of the information
contained in the full announcement, published on the Stock Exchange News Service (SENS) at
https://senspdf.jse.co.za/documents/2020/jse/isse/SEP/Int2020.pdf
and on SepHold’s website: www.sephakuholdings.com on 13 November 2020. The full announcement is
available for inspection at no charge during normal business hours at SepHold’s registered office. Copies of the
full announcement may also be requested by email at info@sephold.co.za
Any investment decisions by investors and/or shareholders should be based on consideration of the full
announcement as a whole, and shareholders are encouraged to review the full announcement, which is available
for viewing on SENS and on the Company’s, website set out above.
Centurion
13 November 2020
Enquiries contact:
Sakhile Ndlovu Sephaku Holdings Investor Relations 012 612 0210
Sponsor to Sephaku Holdings: Questco Corporate Advisory (Pty) Ltd
About Sephaku Holdings Limited
Sephaku Holdings Limited is a building and construction materials company with a portfolio of investments in the cement sector in South
Africa. The company's core investments are a 36% stake in Dangote Cement SA (Pty) Ltd and 100% in Métier Mixed Concrete (Pty) Ltd.
SepHold's strategy is to generate growth and realise value for shareholders through the production of cement and ready mixed concrete in
Southern Africa.
www.sephakuholdings.com
Date: 13-11-2020 05:00:00
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