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OMNIA HOLDINGS LIMITED - Trading statement for the year ended 31 March 2021

Release Date: 11/06/2021 07:35
Code(s): OMN     PDF:  
Wrap Text
Trading statement for the year ended 31 March 2021

OMNIA HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1967/003680/06)
JSE code: OMN
ISIN: ZAE000005153
("Omnia" or the "Company" or the "Group")


TRADING STATEMENT FOR THE YEAR ENDED 31 MARCH 2021

Omnia is finalising its financial results for the year ended 31 March 2021. Paragraph 3.4 of the JSE Limited
Listings Requirements requires a company to publish a trading statement as soon as its Board is satisfied that
there is a reasonable degree of certainty that the financial results for a period to be reported on will differ by
more than 20% from that of the previous corresponding period.

Accordingly, a review by Omnia’s Board of the Group's financial results for the year ended 31 March 2021
has indicated that:
   •   total earnings per share is expected to increase by between 724% and 744%, from earnings per share
       of 99 cents for the year ended 31 March 2020, to earnings per share of between 816 cents and 836
       cents for the year ended 31 March 2021;
   •   total headline earnings per share is expected to increase by between 86% and 106%, from a headline
       earnings per share of 189 cents for the year ended 31 March 2020, to headline earnings per share of
       between 352 cents and 390 cents for the year ended 31 March 2021;
   •   earnings per share from continuing operations is expected to increase by between 503% and 523%,
       from earnings per share of 64 cents for the year ended 31 March 2020, to earnings per share of between
       386 cents and 399 cents for the year ended 31 March 2021; and
   •   headline earnings per share from continuing operations is expected to increase by between 141% and
       161%, from a headline earnings per share of 154 cents for the year ended 31 March 2020, to headline
       earnings per share of between 371 cents and 402 cents for the year ended 31 March 2021.

Trading Statement commentary
Following the successful stabilisation of the Group's financial position last year, the emphasis during 2021
was on the "fix" phase of the Group's turnaround strategy while also exploring new growth opportunities.

Operational performance exceeded management's expectations. Continued focus on the Group's strategy
translated into increased operating profits, margins and free cashflows with a reduction in net working capital
and further reduction in debt.

The Group kept pace with the fast-changing environment, demonstrating the agility required to address the
COVID-19 challenges across its operations. The resurgence in infections across many regions during the last
quarter created additional disruptions, particularly from a supply chain perspective, which have been well
managed to date. Omnia continues to reinforce a culture of safety and accountability across the Group with
concerted efforts being made to ensure that safety performance across the Group is continually improved.

With a resilient performance achieved during challenging economic conditions, Omnia remains focused on
its commitment to improve overall returns through the pursuit of organic and inorganic growth opportunities,
greener technologies and expansion into geographies that enhance its impact in the world and ultimately create
value for stakeholders.

The contraction of the Zimbabwean economy continues, with a rapid increase in the inflation rate combined
with a weakening Zimbabwean dollar resulting in hyperinflation and several associated consequences for the
Group.

The Group's results include the effect of the once-off profit on the disposal of Oro Agri.

The Group is in a net cash position resulting predominantly from improved cash generation by the underlying
businesses and the receipt of the Oro Agri sales proceeds. Omnia will announce its dividend decisions with
its results. The Board is also carefully considering further capital allocation decisions to ensure that they are
value accretive, provide the right diversification that is complementary to Omnia’s core businesses and skill
set and strengthen the Group’s overall positioning.

The financial information on which this trading statement is based has not been reviewed by or reported on
by Omnia's external auditors. Omnia’s results for the year ended 31 March 2021 may be impacted further by
adjustments resulting from the year-end closure process, which may result in a change in the estimated EPS
and HEPS noted above. A further trading statement in this regard will be provided if necessary.

Omnia expects to release its results for the year ended 31 March 2021 on or about 22 June 2021.

Johannesburg
11 June 2021

Sponsor
Java Capital
Date: 11-06-2021 07:35:00
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