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ECSPONENT LIMITED - Reviewed Condensed Provisional Consolidated Results for the Financial Period Ended 30 June 2019

Release Date: 14/11/2019 13:25
 
Wrap Text
Reviewed Condensed Provisional Consolidated Results for the Financial Period Ended 30 June 2019

ECSPONENT LIMITED
Incorporated in the Republic of South Africa
Registration number: 1998/013215/06
JSE Code: ECS - ISIN: ZAE000179594
Debt Issuer Code: ECSD
(“the Company” or “Ecsponent”)

REVIEWED PROVISIONAL CONDENSED CONSOLIDATED RESULTS FOR THE PERIOD ENDED 30 JUNE 2019

The board of directors of Ecsponent (“Board”) is pleased to present the reviewed provisional condensed
consolidated results of Ecsponent and its subsidiaries (“the Group”) for the period ended 30 June 2019.

During the June 2019 financial period, the Group continued to focus on its core business activities, building
on the foundation it created through a series of rationalisation transactions in the previous periods. Notable
transactions were the additional investments in MyBucks S.A. (“MyBucks”), a Frankfurt-listed (Luxembourg
based) fintech company. MyBucks banking and consumer lending operations are active in six African
countries of which five hold banking licenses.

During the period, the Group focused on diversifying its Equity Holdings portfolio (in addition to the MyBucks
investment), with investments in asset managers. The Group also made an investment in a mineral claim
announced after the financial year end.

Looking to the future, the Group aims to support its growing asset base with platforms that hold significant
intrinsic value and provide diversification across sectors, geographies and currencies. To support this,
Ecsponent is evaluating further investments in high-growth sectors with longer term investment horizons.
The Group is considering various options to further capitalise the business to underpin the planned
diversification of its investment portfolio.

Highlights of the Group’s results for the period ended 30 June 2019 are set out below together with the
information for the previous comparative period, being the 15 months ended 30 June 2018:

•       revenue decreased by 18% to R382 million compared to R467 million in the comparative period;
•       operating profits decreased by 76% to R97 million compared to R412 million in the comparative
        period;
•       earnings per share decreased by 350% to a loss per share of 23.66 cents compared to an earnings
        per share of 9.47 cents in the comparative period; and
•       headline earnings per share decreased by 281% to a headline loss per share of 12.64 cents
        compared to a headline earnings per share of 6.99 cents in the comparative period.

No ordinary dividends have been declared in the current or previous periods and no ordinary dividend is
proposed.

This short-form announcement is the responsibility of the Board and is only a summary of the information
contained in the full announcement published on SENS on 14 November 2019 (“Full Announcement”) and
does not contain full or complete details. Any investment decision by investors and/or shareholders of
Ecsponent should be based on consideration of the Full Announcement.

The Full Announcement is available:
   1. for downloaded via:
            •  https://senspdf.jse.co.za/documents/2019/jse/isse/ecs/FYE2019.pdf ; or
            •   the Group’s website at https://www.ecsponentlimited.com/media-releases/ ;
   2. for inspection at:
            •  the registered offices of the Company and the Company’s Sponsor, at no charge, during
               normal business hours from the date of this announcement for a period of 30 calendar days.

For more information about this announcement or the Ecsponent Group, email
investor.relations@ecsponent.com or visit www.ecsponentlimited.com/investor-relations .

14 November 2019
Pretoria

Sponsor to Ecsponent
Questco Corporate Advisory (Pty) Ltd

Date: 14/11/2019 01:25:00
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