Wrap Text
Unaudited interim condensed consolidated financial statements for the six months ended 31 January 2022
EOH HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/014669/06)
JSE share code: EOH ISIN: ZAE000071072
(“EOH” or “the Group”)
SHORT-FORM ANNOUNCEMENT: UNAUDITED INTERIM CONDENSED CONSOLIDATEDFINANCIAL STATEMENTS FOR THE
SIX MONTHS ENDED 31 JANUARY 2022
Salient features
- Following the successful execution of its turnaround strategy, EOH posted headline earnings per
share of 41 cents per share, resulting in a 214% improvement from a total headline loss per share
for the six months ended 31 January 2021 (“HY2021”).
- The Group generated an operating profit of R167 million from continuing and discontinued
operations for the six months ended 31 January 2022 (“HY2022”) compared to R76 million
generated for HY2021.
- The Group also delivered a significant improvement in Gross Profit margin, Operating Profit margin
and EBITDA margin for HY2022.
- Cash generated from operations was positive for the period and the Group had a cash balance as at
31 January 2022 of R625 million including restricted cash of R85 million and cash in entities held
for sale of R116 million. EOH had undrawn overdraft facilities of R250 million available as at
12 April 2022.
- Significant progress was made in the deleveraging strategy with the proceeds from the sale of
Sybrin, announced 8 June 2021, received on 31 March 2022. The sales of the Information Services
companies, expected to conclude in May 2022, and Network Solutions were also announced on 11
March 2022 and 7 April 2022 respectively. The Group has repaid R360 million of debt since 31
January 2022 following the receipt of the proceeds from the Sybrin sale and anticipates a further
c.R500 million from the announced sales above.
- Key financial indicators
o Total revenue – R3 511 million
o Gross profit margin improvement to 29.9% for HY2022 from 27.6% for HY2021
o Operating profit margin increased to 4.8% for HY2022 from 1.7% for HY2021
o Adjusted EBITDA margin improved to 9.7% for HY2022 from 7.9% for HY2021
o Total earnings per share (“EPS”) – 13 cents
o Total Headline earnings per share (“HEPS”) – 41 cents
Total operations HY2022 HY2021 % Change
Restated
Revenue R 3 511 million R 4 376 million (20)
EPS 13 cents per share 83 cents loss per share 116
HEPS 41 cents per share 36 cents loss per share 214
Adjusted EBITDA* R339 million R347 million (2)
*
Adjusted EBITDA is defined as profit/(loss) before depreciation, amortisation, share-based payment expense, gain/loss on
disposal of subsidiaries and equity-accounted investments, impairments of nonfinancial assets, share of profit/loss of
equity-accounted investments, remeasurement gain/losses on vendors for acquisition liability, interest income,
interest expense and current and deferred tax.
The presentation of the Group’s interim results hosted by EOH CEO Stephen van Coller and CFO Megan
Pydigadu, may be viewed via a webinar at 11h00 on 13 April 2022, by following the link:
www.eoh.co.za/watchresults
This short-form announcement is the responsibility of the directors. This short-form announcement is only
a summary of the information in the full announcement and does not contain full or complete details. The
short-form announcement has not been audited or reviewed by the Company's external auditors. Any
investment decisions by investors and/or shareholders should be based on consideration of the full
announcement published on SENS and the issuer’s website as a whole. The full announcement, which has
been released on SENS, is available on EOH’s website at: https://www.eoh.co.za/investor-
relations/financial-results/ and is also available on the JSE website at:
https://senspdf.jse.co.za/documents/2022/jse/isse/EOH/H12022.pdf
Copies of the full announcement may be requested from IR@eoh.com or the sponsor, Java Capital at
sponsor@javacapital.co.za and is available for inspection at EOH’s registered office (Block D, EOH
Business Park, Osborne Lane, Bedfordview, 2007) and the offices of the sponsor, Java Capital (6th Floor,
1 Park Lane, Wierda Valley, Sandton, 2196), at no charge, during normal business hours.
13 April 2022
Sponsor
Java Capital
Date: 13-04-2022 07:30:00
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