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Group Financial Results for the year ended 30 June 2020
ASPEN PHARMACARE HOLDINGS LIMITED
(Incorporated in the Republic of South Africa) ("Aspen Holdings")
Registration number: 1985/002935/06
Share code: APN
ISIN: ZAE000066692
LEI: 635400ZYSN1IRD5QWQ94
and its subsidiaries (collectively "Aspen" or "the Group")
GROUP FINANCIAL RESULTS FOR THE YEAR ENDED 30 JUNE 2020
SALIENT RESULTS
Aspen reported the following salient results:
- Revenue from continuing operations increased by 9% to R38,6 billion (restated June 2019: R35,5 billion);
- Normalised EBITDA from continuing operations increased by 7% to R11,0 billion (restated June 2019: R10,3 billion);
- Normalised headline earnings per share from continuing operations increased by 9% to 1464,6 cents
(restated June 2019: 1344,8 cents);
- Headline earnings per share from continuing operations increased by 9% to 1268,0 cents
(restated June 2019: 1158,1 cents);
- Earnings per share from continuing operations increased by 175% to 1010,2 cents (restated June: 367,8 cents);
- Earnings per share decreased by 28% to 1021,8 cents (restated June 2019: 1415,9 cents);
- Net Borrowings reduced to R35,2 billion (from R39,0 billion at June 2019);
- A leverage ratio of 2.89 times has been achieved, comfortably below the covenant ratio of 3.5 times;
- Operating cash flow conversion rate of 142% from continuing operations;
- Disposal of the Japanese Business was concluded effective 31 January 2020;
- The Japanese Business and the South African public sector ARVs (commercial related activities only) have been
reclassified to discontinued operations;
- Agreement concluded with Mylan for the divestment of assets relating to the commercialisation of the Thrombosis
products in Europe; and
- No dividend has been declared for the year ended 30 June 2020 (June 2019: no dividend declared).
REGULATORY REQUIREMENTS
The contents of the short form announcement are the responsibility of the Board of directors of Aspen. The
information in the short form announcement is a summary of the full announcement available on the Company's
website at https://www.aspenpharma.com/results-and-reports/ on 10 September 2020 and accordingly does not
contain full or complete details. The full announcement can also be accessed online at
https://senspdf.jse.co.za/documents/2020/jse/isse/APN/FYresults.pdf
The information in this announcement has been extracted from the Reviewed provisional Group financial results for
the year ended 30 June 2020, but the short form announcement itself has not been reviewed by the Company's auditors.
The Reviewed provisional Group financial results have been prepared under the supervision of the Deputy Group Chief
Executive, Gus Attridge, CA(SA).
The reviewed provisional Group financial results for the year ended 30 June 2020 have been reviewed by PwC, who
expressed an unmodified review conclusion. The Auditor's Report does not necessarily report on all the information
contained in this announcement. Shareholders are therefore advised that in order to obtain a full understanding of the
nature of the Auditor's engagement, they should obtain a copy of the Auditor's Report, together with the accompanying
financial information from the issuer's registered office.
Any investment decisions by shareholders/investors should be based on the full announcement as released by the JSE
and published on the Company's website, https://www.aspenpharma.com. The full announcement is also available at the
Company's registered office (for inspection, at no charge, during office hours on any business day) and at the offices
of the sponsor, Investec Bank Limited, from 10 September 2020 to 30 September 2020, both days inclusive. Copies of the
full announcement may be requested by contacting Riaan Verster on telephone: +27(0)31 580 8624,
email: rverster@aspenpharma.com.
For and on behalf of the Board
Kuseni Dlamini Stephen Saad
Chairman Group Chief Executive
Registered office
Building 8
Healthcare Park
Woodlands Drive
Woodmead
Sandton
Woodmead
09 September 2020
Sponsor:
Investec Bank Limited
Date: 09-09-2020 05:30:00
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