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Trading Statement for Year Ended 31 December 2019
ADvTECH Limited
(Incorporated in the Republic of South Africa)
(Registration number 1990/001119/06)
Share code: ADH ISIN: ZAE000031035
(ÄDvTECH” or “the company”)
TRADING STATEMENT FOR YEAR ENDED 31 DECEMBER 2019
In terms of the Listings Requirements of the JSE Limited, a listed company is required to
publish a trading statement as soon as it becomes reasonably certain that the financial results
for the next period to be reported on will show a 20% or more difference from those of the
previous corresponding period.
ADvTECH advises shareholders, with reasonable certainty, that basic earnings per share
(“EPS”) and Headline earnings per share (“HEPS”) for the year ended 31 December 2019 will
be between 17% and 23% higher than the comparative reporting period for the year ended 31
December 2018 (“the comparative period”). EPS is expected to be between 84.0 and 88.3
cents per share as compared to 71.8 cents per share (restated from 74.2 cents per share as
a result of the implementation of IFRS 16) for the comparative period. HEPS is expected to
be between 83.3 and 87.6 cents per share as compared to 71.2 cents per share (restated from
73.6 cents per share as a result of the implementation of IFRS 16) for the comparative period.
The company has consistently reported normalised earnings per share (“NEPS”) as a way of
omitting the effect of one-off transactions and corporate action costs from its results. In the
current year, these include foreign exchange and bargain purchase gains on the acquisition
of IIE MSA, insurance proceeds received in relation to the previously reported fraud event and
other corporate actions costs. Omitting these aspects from consideration will result in NEPS
being between 5% and 10% higher than the comparative period, resulting in NEPS of between
82.7 and 86.7 cents per share for the year ended 31 December 2019 as compared to 78.8
cents per share (restated from 81.1 cents per share as a result of the implementation of IFRS
16) for the comparative period.
The company has implemented IFRS 16 using the retrospective approach which requires the
results for the comparative period ended 31 December 2018 to be restated. Based on the
previous published EPS of 74.2 cents per share and HEPS of 73.6 for the comparative period
ADvTECH expects an increase of between 13% and 19% in EPS and HEPS. Based on the
previous published NEPS of 81.1 cents per share for the comparative period, ADvTECH
expects an increase of between 2% and 7% in NEPS.
ADvTECH expects to release results for the year ended 31 December 2019 on the
Johannesburg Stock Exchange News Service (“SENS”) on or about Monday, 23 March 2020.
4 March 2020
Johannesburg
Sponsor: Bridge Capital Advisors Proprietary Limited
Date: 04-03-2020 11:35:00
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