CALGRO M3 HOLDINGS LIMITED - Summarised Audited Consolidated Financial Results For The Year Ended 28 February 2021

Summarised Audited Consolidated Financial Results For The Year Ended 28 February 2021

CALGRO M3 HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2005/027663/06)
JSE Share code: CGR
ISIN: ZAE000109203
(“Calgro M3” or “the Company”)



SUMMARISED AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR
ENDED 28 FEBRUARY 2021


1.   SALIENT FEATURES

-    Headline earnings per share decreased to a headline loss per share of 15.17 cps (2020:
     1.77 cps profit)

-    Earnings per share increased to 14.88 cps (2020: 3.84 cps)

-    Revenue decreased by 10.7% to R879.1 million (2020: R984.1 million)

-    Net asset value per share increased by 7.2% to 682.09 cps (2020: 636.12 cps)

-    Cash generated from operations: R114.8 million (2020: R464.2 million)

-    Net debt to equity ratio of 0.99 : 1.00

-    Cash on hand totaling R154.6 million

-    No dividend was declared for the year ended 28 February 2021 (2020: Nil)

With 4 654 opportunities under construction, compared to 2 393 a year ago, and a pipeline of
32 590 opportunities, the Group is well positioned with sufficient capital and liquidity to return
to activity levels (within the next few years), last seen five years ago. With 6 073 serviced
opportunities available, the commencement of installation of new infrastructure should be
forthcoming once the required Government funding is made available, but no immediate
capital pressures exist in this regard.

Memorial Parks revenue increased by 65.2% to R42.5 million. Total confirmed Covid-19 sales
contributed R6.9 million of Memorial Parks revenue, with the majority of the growth originating
from an increase in Calgro M3’s market share.

Overall, the Company is well positioned for growth, resulting from:
- Strong cash flow;
- Lean overhead structure;
- Ample residential and burial serviced opportunities; and
- Strong sales across markets.

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 full announcement ("Full
Announcement") and does not contain full or complete details. The Full Announcement
can be found at:
https://senspdf.jse.co.za/documents/2021/JSE/ISSE/CGRE/FY2021.pdf

Copies of the Full Announcement is also available for viewing on the Company's website
at www.calgrom3.com 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 have been audited by the Company's auditors,
PricewaterhouseCoopers Inc., who expressed an unmodified audit opinion thereon. The
full auditor's report includes details of key audit matters and is available, along with the
annual        financial     statements,      on     the      Company's        website      at
https://www.calgrom3.com/images/pdfs/Financial_Results/Calgro-year-end-results-
booklet-2021.pdf


By order of the Board
Wikus Lategan                                        Hatla Ntene
Chief Executive Officer                              Chairperson


Johannesburg
17 May 2020

Sponsor
PSG Capital

Date: 17-05-2021 07:05:00
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