ADVTECH LIMITED - Results for the Year Ended 31 December 2019

Results for the Year Ended 31 December 2019

ADvTECH Limited
(Incorporated in the Republic of South Africa)
(Registration number 1990/001119/06)
Share code: ADH           ISIN: ZAE000031035
("ADvTECH" or "the group")


RESULTS FOR THE YEAR ENDED 31 DECEMBER 2019

1. Salient features

Revenue increased by 16% to R5 108 million, from the R4 389 million in the prior corresponding period.

Operating profit before interest and non-trading items increased by 8% to R869 million, from the
restated R808 million in the prior corresponding period.

Earnings per share (“EPS”) increased by 21% to 87.1 cents per share, from the restated 72.0 cents per
share in the prior corresponding period.

Headline earnings per share (“HEPS”) increased by 20% to 86.0 cents per share, from the restated
71.4 cents per share in the prior corresponding period.

Normalised earnings increased by 8% to R459 million, from the restated R423 million in the prior
corresponding period.

Normalised earnings per share (“NEPS”) increased by 8% to 85.2 cents per share, from the restated
79.0 cents per share in the prior corresponding period.

The group has implemented IFRS 16: Leases relating to accounting for leases using the retrospective
approach which resulted in the prior corresponding period ended 31 December 2018 to be restated.

2. Dividend and share buy-back considerations

In view of the heightened uncertainty as a result of the rapidly evolving nature of COVID-19, the board
has decided to defer the decision regarding a dividend declaration.

While management has contingency plans in place and remains confident of navigating the business
through the unpredictability, the board felt that it would be prudent to delay the decision and continue
to assess the environment and potential impact of the pandemic. The board will consider a dividend
payment at the next board meeting to be held in May 2020, when the impact of the pandemic on the
group may have become clearer. In light of the low share price, the board will also consider the option
of a share buy-back in lieu of a dividend at that meeting.

This results in the dividend for the year remaining at 15.0 cents (2018: 30.0 cents) per share.

3. Short-form announcement

This short form announcement, which is the responsibility of ADvTECH’s directors, is only a summary
of information in the full announcement and does not contain full or complete details. This short form
announcement is itself not audited but is extracted from audited results. Any investment decisions by
shareholders and/or investors should be based on consideration of the full announcement. The full
announcement can be found at:
https://senspdf.jse.co.za/documents/2020/jse/isse/adh/advtech full sens announcement december 2019.pdf

The full announcement is also available for viewing on the company’s website at https://irp-
cdn.multiscreensite.com/24847d5c/files/uploaded/ADvTECH%20Full%20SENS%20Announcement%2
0December%202019.pdf
or a copy may be requested in person, at the company’s registered office or the office of the sponsor,
at no charge, during office hours. Copies of the full announcement may also be requested from
ADvTECH’s group investor relations at investorrelations@advtech.co.za.

The auditors, Deloitte and Touche, unmodified report along with their key audit matters and the
consolidated financial statements are available for inspection on the following link: https://irp-
cdn.multiscreensite.com/24847d5c/files/uploaded/Full%20Set%2031%20December%202019_lTozIo
TIeliaaqchVYlA.pdf

23 March 2020
Johannesburg
Sponsor: Bridge Capital Advisors Proprietary Limited

Date: 23-03-2020 02:15:00
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