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Reviewed condensed consolidated financial results for the year ended 30 April 2020
ELLIES HOLDINGS LIMITED
Incorporated in the Republic of South Africa
Registration number: 2007/007084/06
JSE share code: ELI
ISIN: ZAE000103081
(“Ellies” or “the Company”)
SHORT-FORM ANNOUNCEMENT – REVIEWED CONDENSED CONSOLIDATED
FINANCIAL RESULTS for the year ended 30 April 2020
2020 AT A GLANCE
REVENUE decreased by 13,8% to R1 169,9 million
(2019: R1 357,7 million)
EBITDA-LOSS increased by 212,1% to a loss of R67,1 million
(2019: loss of R21,5 million)
OPERATING LOSS increased by 190,5% to a loss of R88,3 million
(2019: operating loss of R30,4 million)
TOTAL COMPREHENSIVE LOSS increased by 538,8% to a loss of
R196,1 million (2019: loss of R30,7 million)
LOSS PER SHARE increased by 709,2% to a loss of 28,97 cents
(2019: loss per share of 3,58 cents)
HEADLINE LOSS PER SHARE increased by 472,4% to a loss of 18,66
cents (2019: headline loss per share of 3,26 cents)
NET ASSET VALUE PER SHARE decreased by 61,7% to 18,2 cents
(2019: 47,5 cents)
NET TANGIBLE ASSET VALUE PER SHARE decreased by 53,6% to
18,2 cents (2019: 39,2 cents)
No dividend declared
SHORT-FORM ANNOUNCEMENT
The contents of the short-form announcement are the responsibility
of the Board of Directors of Ellies Holdings Limited. The
information in the short-form announcement is a summary of the
full announcement available on the Company’s website on
https://elliesholdings.com/YERes2020.pdf
on 1 October 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/ELI/YE2020.pdf.
The condensed consolidated financial statements were reviewed by
BDO South Africa Incorporated and an unmodified review opinion has
been issued on the reviewed condensed consolidated financial
statements for the financial year ended 30 April 2020. The
directors believe that the Group is a going concern, however,
COVID-19 creates a material uncertainty around going concern,
which creates significant doubt. However, the effect of a slow
economic recovery or a further deterioration in the economic
outlook of South Africa post the COVID-19 pandemic and its
potential impact were considered as an uncertainty.
If the economy and as a result, the performance of Ellies,
deteriorate and management is unable to stem the losses incurred
in a major subsidiary, these present a material uncertainty to
Ellies remaining as a going concern. These matters indicate that
there is a material uncertainty related to events or conditions
that may cast significant doubt about the Group’s ability to
continue as a going concern and therefore, that it may not be able
to realise its assets and discharge its liabilities in the normal
course of business. Shareholders are referred to the full
announcement, available on the Company’s website on
https://elliesholdings.com/YERes2020.pdf for further information
in this regard.
The information in this announcement has been extracted from the
reviewed condensed consolidated financial results, but the short-
form announcement itself has not been reviewed by the Company’s
auditors. Any investment decisions by shareholders/investors
should be based on the full announcement released to the JSE and
published on the Company’s website. 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, Java Capital, from 1 October 2020 to
8 October 2020, both days inclusive. Copies of the full
announcement may be requested by email to info@elliesholdings.com.
1 October 2020
ELLIES HOLDINGS LIMITED
DIRECTORS:
Messrs Timothy Fearnhead (Chairperson)*, Dr Shaun Prithivirajh
(CEO), Chris Booyens (CFO), Martin Kuscus*, Edick Lehapa*,
Francois Olivier*, Edward Raff*
* Independent non-executive
PREPARER:
Prepared by Mr Jacques Liebenberg (BCompt (Hons), AGA(SA)),
Interim Finance Executive/Consultant, under the supervision of
Mr Chris Booyens CA(SA), Financial Director and CFO
COMPANY SECRETARY:
Acorim Secretarial & Governance Services
REGISTERED OFFICE:
Brooklyn Place, 3 Centex Close, Kramerville, Sandton, 2090
(PO Box 57076, Springfield, 2137)
SPONSOR:
Java Capital, 6th Floor, 1 Park Lane, Wierda Valley, 2196
AUDITORS:
BDO South Africa Inc
TRANSFER SECRETARIES:
Computershare Investor Services (Pty) Ltd
www.elliesholdings.com
Date: 01-10-2020 03:10:00
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