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ELLIES HOLDINGS LIMITED - Reviewed condensed consolidated financial results for the year ended 30 April 2020

Release Date: 01/10/2020 15:10
Code(s): ELI     PDF:  
Wrap Text
Reviewed condensed consolidated financial results for the year ended 30 April 2020

Incorporated in the Republic of South Africa
Registration number: 2007/007084/06
JSE share code: ELI
ISIN: ZAE000103081
(“Ellies” or “the Company”)

FINANCIAL RESULTS for the year ended 30 April 2020


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)

18,2 cents (2019: 39,2 cents)

No dividend declared


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
on 1 October 2020 and accordingly does not contain full or 
complete details. The full announcement can also be accessed 
online at 

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 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

1 October 2020


Messrs Timothy Fearnhead (Chairperson)*, Dr Shaun Prithivirajh 
(CEO), Chris Booyens (CFO), Martin Kuscus*, Edick Lehapa*, 
Francois Olivier*, Edward Raff*

* Independent non-executive         

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

Acorim Secretarial & Governance Services

Brooklyn Place, 3 Centex Close, Kramerville, Sandton, 2090
(PO Box 57076, Springfield, 2137)

Java Capital, 6th Floor, 1 Park Lane, Wierda Valley, 2196

BDO South Africa Inc

Computershare Investor Services (Pty) Ltd

Date: 01-10-2020 03:10:00
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