WILSON BAYLY HOLMES-OVCON LIMITED - Unaudited Interim Financial Statements for the six months ended 31 December 2022

Unaudited Interim Financial Statements for the six months ended 31 December 2022

Wilson Bayly Holmes-Ovcon Limited
(Registration number 1982/011014/06)
(Incorporated in the Republic of South Africa)
Share code: WBO
ISIN: ZAE 000009932
(“WBHO” or “the company” or “the Group”)

UNAUDITED INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 31 DECEMBER
2022

FINANCIAL HIGHLIGHTS:
The continuing operations of the Group enjoyed a stable six-month period in which the South African
operations demonstrated positive growth as a consequence of strong order book levels at 30 June
2022, operations in the rest of Africa performed satisfactorily, and the businesses in the United
Kingdom (UK) performed in line with expectations amid a difficult trading environment affected by
ongoing economic and political pressures and a tumultuous global environment. Especially promising
has been the growth in the order books of all divisions.

In addition, after extensive time and effort over the last 12 months, the Group has fulfilled all
obligations associated with the decision to exit Australia on 22 February 2022, with no further
exposure or future costs to be incurred.

Key highlights:

    -    Revenue from continuing operations for the period increased by 15% to R10 billion (Dec
         2021: R9 billion)
    -    Earnings per share from continuing operations of 829 cents (Dec 2021: 596 cents)
    -    Earnings per share from total operations of 641 cents (Dec 2021: Loss per share of 2 535
         cents)
    -    Headline earnings per share from total operations of 630 cents (Dec 2021: Headline loss per
         share of 1 613 cents)
    -    No interim dividend has been declared for the period ending 31 December 2022 (Dec 2021:
         Nil cents per share)
    -    The net asset value of the Group amounts to R3,3 billion (Dec 2021: R4,2 billion)
    -    Order book increased by 19% from R22 billion to R27 billion


Link to full results https://senspdf.jse.co.za/documents/2023/jse/isse/WBO/Interims23.pdf

The directors are responsible for the preparation and fair presentation of the summary consolidated
interim financial statements of WBHO for the period ended 31 December 2022.

The short-form announcement is a summary of the information included in the full announcement and
any investment decision should be based on the full announcement.

The full announcement is published on the company’s website at www.wbho.co.za/investors. In
addition, it is available for inspection at the company’s registered offices and the company sponsor
detailed below, at no charge, every Monday to Friday between 08:00 and 17:00. Copies of the full
announcement may also be requested via email from Donna.Msiska@wbho.co.za.

CASH DIVIDEND
The Board has elected not to declare a dividend for period ended 31 December 2022 due to the
sizeable cash outflows incurred to meet the Group’s contractual obligations in Australia and to provide
flexibility over the short-term to consider options with regard to the associated long-term debt
obtained.

For and on behalf of the board

EL Nel                   WP Neff                           CV Henwood
Chairman               Chief Executive Officer   Chief Financial Officer

Registered office
53 Andries Street
Wynberg
Sandton

28 February 2023
Sandton

Sponsor: Investec Bank Limited

Date: 28-02-2023 08:00:00
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