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Trading statement for the year ended 30 June 2022
Distell Group Holdings Limited
Incorporated in the Republic of South Africa
Registration number: 2016/394974/06
JSE share code: DGH
ISIN: ZAE000248811
("Distell" or "the Group" or "the Company")
TRADING STATEMENT FOR THE YEAR ENDED 30 JUNE 2022
In terms of paragraph 3.4(b) of the Listings Requirements of the JSE
Limited, companies are required to publish a trading statement as
soon as a reasonable degree of certainty exists that the financial
results for the period to be reported on next will differ by at
least 20% from those for the previous corresponding period.
Accordingly, a review by Distell’s management of the financial
results for the twelve months ended 30 June 2022 (FY22) has
indicated the following:
Expected Reported Change
Financial Financial %
year ended year ended FY22 v FY21
30 June 2022 30 June 2021
(cents) (cents)
Earnings per 1 022,8 – 16,1 –
share (EPS) 1 110,8 880,6 26,1
Headline earnings 1 002,4 – 30,3 –
per share (HEPS) 1 079,4 769,6 40,3
TRADING UPDATE
Group performance
• Group revenue increased by 20,8% alongside volume expansion of
17,6% compared to the previous 12 months ended 30 June 2021
(FY21 or the ‘prior period’).
• In South Africa, the business delivered an outstanding
performance with a strong double-digit increase in revenues and
volumes. This was during a period with 47 more trading days
compared to the prior period.
• The Africa business, including BLNE (Botswana, Lesotho, Namibia
and Eswatini) countries, also performed well with revenue and
volumes increasing in the mid-teens.
• The international business grew revenues and volumes by high
single-digits.
• The Group’s net debt position remains strong with a debt-to-
equity ratio of less than 2%.
HEINEKEN INTERNATIONAL B.V. TRANSACTION
Shareholders are reminded that Distell is in an offer period as
contemplated in the Companies Regulations, 2011 (“Takeover
Regulations”), issued in terms of the Companies Act, 2008, in
respect of the scheme of arrangement proposed by Distell’s board of
directors to Distell shareholders and approved at the Distell
shareholder meeting held on 15 February 2022, convened in terms of
the circular to Distell shareholders issued on 17 January 2022
(“Heineken Transaction”). As a consequence, Distell is required to
comply with the provisions of Takeover Regulation 111(9) and (10) in
relation to this Trading Statement. The required report by Distell’s
auditors in relation to the forecasts contained in this Trading
Statement is expected to be received on or about Wednesday, 24
August 2022, following which a further announcement shall be made to
shareholders. Shareholders are advised to take this into account
when considering this Trading Statement.
The process of obtaining regulatory approvals in relation to the
Heineken Transaction is ongoing and, as indicated in the
announcement released by Distell on the Stock Exchange News Service
(SENS) on 15 June 2022, Distell anticipates that the implementation
of the scheme of arrangement can still occur before the end of 2022.
As soon as Distell receives more clarity on this, a revised
timetable, indicating all relevant dates will be communicated to all
shareholders.
The parties continue to engage proactively with regulatory
authorities.
INVESTOR CONFERENCE CALL
The Group’s financial results for the twelve months ended 30 June
2022 will be released on SENS on or about Thursday, 25 August 2022.
Management will be hosting a conference call post the release of the
Group’s year-end results via webcast, and in person at Durbanville
Hills Wine Farm, Cape Town at 14h00 CAT (Central Africa Time).
Participants are requested to register in advance by navigating to
https://themediaframe.com/mediaframe/webcast.html?webcastid=HAAzGPR7
RSVP attendance to Durbanville Hills to be made via
investor.relations@distell.co.za
RESPONSIBILITY STATEMENT
The board of directors of Distell accepts responsibility for the
information contained in this announcement and certifies that, to
the best of their knowledge and belief, the information contained in
this announcement is true and nothing has been omitted which is
likely to affect the importance of the information.
Stellenbosch
12 August 2022
Sponsor and Corporate Broker
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 12-08-2022 05:20:00
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