YORK TIMBER HOLDINGS LIMITED - Consolidated financial results for the year ended 30 June 2020

Consolidated financial results for the year ended 30 June 2020

York Timber Holdings Limited
Incorporated in the Republic of South Africa
Registration number: 1916/004890/06
JSE share code: YRK
ISIN: ZAE000133450
(“York” or the “Company”)

CONSOLIDATED FINANCIAL RESULTS for the year ended 30 June 2020


RESULTS OVERVIEW                                                     www.york.co.za
•   Revenue down 10% to R1 439 million
•   Net working capital decreased by 1% to R159 million
•   Debt reduced by R100 million
•   Cash generated from operations decreased by 57% to R96 million
•   Biological asset value down 8% to R2 907 million
•   EBITDA (Earnings before interest, tax, depreciation and amortisation) decreased
    by R193 million
•   Loss per share increased from 11 cents to 69 cents
•   Headline earnings per share decreased from 50 cents to a loss of 70 cents per share
•   Core earnings per share decreased from 8 cents to a loss of 33 cents per share
•   Net asset value per share decreased by 7% to 912 cents
•   No dividend has been declared for the year ended 30 June 2020 (2019: Rnil)


ABOUT THIS SHORT-FORM ANNOUNCEMENT
This short-form announcement is the responsibility of the directors of the
Company and is only a summary of the information in the full announcement
and does not contain full or complete details. Any investment decision by
investors and/or shareholders should be based on consideration of the full
announcement. The full announcement is accessible via the following JSE link
https://senspdf.jse.co.za/documents/2020/jse/isse/YRK/FY2020SENS.pdf and on
the Company’s website at http://www.york.co.za/downloadsYorkyearend2020.pdf.
The consolidated and separate annual financial statements, from which
the full results announcement has been extracted, have been audited by
PricewaterhouseCoopers Incorporated, who expressed an unmodified audit opinion
thereon. The key audit matters contained in the auditor’s report are addressed
on pages 11 – 20 of the consolidated and separate annual financial statements,
which is available on the company’s website at http://www.york.co.za/downloads/
auditedconsolidatedresults2020.pdf. Copies of the full announcement may also be
requested at the Company’s registered office, at no charge, on Mondays to Fridays,
during office hours.

On behalf of the Board

PP van Zyl                              GCD Stoltz
Chief Executive Officer                 Chief Financial Officer           30 September 2020

Executive directors: Pieter van Zyl (CEO), Gerald Stoltz (CFO)
Non-executive directors: Dr Jim Myers* (Chairman, USA), Dr Azar Jammine*, Shakeel Meer,
Dinga Mncube*, Andries Brink*, Hetisani Mbanyele-Ntshinga*, Maxwell Nyanteh* (*independent)
Registered office: York Corporate Office, 3 Main Road, Sabie, Mpumalanga
Postal address: PO Box 1191, Sabie, 1260
Auditor: PricewaterhouseCoopers Inc. Company Secretary: Sue Hsieh
Sponsor: One Capital Transfer secretaries: Computershare Investor Services Proprietary Limited

Date: 30-09-2020 05:38:00
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