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NETCARE LIMITED - Summarised Group Results for the year ended 30 September 2021 and Appointment of independent non-executive directors

Release Date: 22/11/2021 08:00
Code(s): NTC NTCP     PDF:  
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Summarised Group Results for the year ended 30 September 2021 and Appointment of independent non-executive directors

Netcare Limited
("Netcare", "the Company" or "the Group")
Registration number: 1996/008242/06 (Incorporated in the Republic of South Africa)
JSE ordinary share code: NTC
ISIN: ZAE000011953
JSE preference share code: NTCP
ISIN: ZAE000081121

Summarised Group Results for the year ended 30 September 2021 and appointment of
non-executive directors and declaration of dividend

- Group EBITDA up 26.8% to R3.2 billion
- Adjusted HEPS up 107.4% to 67.4 cents
- Resumption of dividend payments 34.0 cents

Group financial information

                                                                            Year ended                           
                                                                    30 September   30 September        %
Rm                                                                          2021           2020   change
Statement of profit or loss                                         
Revenue                                                                   21 200         18 843     12.5
EBITDA before items below                                                  3 244          2 558     26.8
Once-off adjusted items1                                                       -            174
EBITDA                                                                     3 244          2 732     18.7
Operating profit                                                           2 076          1 567     32.5
Profit for the year                                                          760            439     73.1
Statement of financial position                                     
Total assets                                                              25 621         25 944     (1.2)
Total liabilities                                                         15 032         16 145     (6.9)
Total shareholders' equity                                                10 589          9 799      8.1
Net debt (excluding lease liabilities)                                     5 331          6 423    (17.0)
Earnings and dividends per share (cents)                            
Basic earnings per share                                                    54.6           28.3     92.9
Diluted earnings per share                                                  54.3           28.1     93.2
Headline earnings/(loss) per share                                          61.5           (3.6)
Adjusted headline earnings per share2                                       67.4           32.5    107.4
Dividend per share                                                          34.0              -

1. 2020 includes R522 million profit on disposal of investment in associate and R348 million share-based 
payment expense on B-BBEE transaction.

2. Defined in the summarised audited Group results.

Netcare's independent auditor, Deloitte & Touche, has issued its opinion on the consolidated financial statements 
for the year ended 30 September 2021, which includes key audit matters and which can be accessed via the Netcare 
Investor Relations website at http://www.netcare.co.za/Netcare-Investor-Relations/Reports/Financial-Results. 
Deloitte & Touche has issued an unmodified opinion with a reportable irregularity therein. This related to 
a matter concerning a breach of controls and an unauthorised payment of an immaterial amount, initiated by an 
executive, which was identified through the Group's internal processes.

This short-form announcement is the responsibility of the directors of the Company. This short-form announcement 
is only a summary of the full announcement, which is published on the Company's website on 
http://www.netcare.co.za/Netcare-Investor-Relations/Reports/Financial-Results, and does not contain complete 
or full details. Any investment decisions by investors and/or shareholders should be based on consideration 
of the full announcement. This short-form announcement is extracted from audited results but is itself not audited.

The full announcement can be accessed directly using the following JSE link:
https://senspdf.jse.co.za/documents/2021/jse/isse/NTC/ye2021.pdf.

The full announcement is also available for inspection at the Company's registered office for investors 
and/or shareholders at no charge, during normal business hours.

The consolidated financial statements can be accessed via the Netcare website on
http://www.netcare.co.za/Netcare-Investor-Relations/Reports/Financial-Results.

22 November 2021

Declaration of dividend number 22

Notice is hereby given of the declaration of a gross final dividend of 34.0 cents per ordinary share in respect 
of the year ended 30 September 2021. The dividend has been declared from income reserves and is payable to 
shareholders recorded in the register at the close of business on Friday, 28 January 2022. The number of ordinary 
shares (inclusive of treasury shares) in issue at the date of this declaration is 1 439 090 009. The dividends 
will be subject to a local dividend withholding tax at a rate of 20%, which will result in a net final dividend 
to those shareholders not exempt from paying dividend withholding tax of 27.2 cents per ordinary share and 34.0 
cents per ordinary share for those shareholders who are exempt from dividend withholding tax.

The Board has confirmed by resolution that the solvency and liquidity test as contemplated by the Companies Act 71 
of 2008 has been duly considered, applied and satisfied.

The salient dates applicable to the dividends are as follows:

Last day to trade cum dividend    Tuesday, 25 January 2022
Trading ex-dividend commences   Wednesday, 26 January 2022
Record date                        Friday, 28 January 2022
Payment date                       Monday, 31 January 2022

Share certificates may not be dematerialised nor rematerialised between Wednesday, 26 January 2022 
and Friday, 28 January 2022, both dates inclusive.

On Monday, 31 January 2022, the dividends will be electronically transferred to the bank accounts 
of all certificated shareholders. Holders of dematerialised shares will have their accounts credited 
at their participant or broker on Monday, 31 January 2022.

Netcare Limited's tax reference number is 9999/581/71/4.

Appointment of independent non-executive directors

Netcare is pleased to announce the appointment of Dr Rozett Phillips and Dr Thabi Leoka as independent 
non-executive directors with effect from 1 January 2022.

Dr Phillips will also be joining the Social and Ethics and Consistency of Care committees, and Dr Leoka 
will be joining the Audit and Social and Ethics committees.

Registered office: 76 Maude Street (corner West Street), Sandton 2196, Private Bag X34, Benmore 2010

Executive directors: RH Friedland (Chief Executive Officer), KN Gibson (Chief Financial Officer)

Non-executive directors: T Brewer (Chairperson), M Bower, B Bulo, L Human, D Kneale, MJ Kuscus, KD Moroka

Company Secretary: C Vikisi

Sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited, 135 Rivonia Road, Sandown, 2196

Transfer secretaries: 4 Africa Exchange Registry (Pty) Ltd, Cedar Woods House, Ballywoods Office Park, 
33 Ballyclare Drive, Bryanston

Tel: 011 100 8352

Investor relations: ir@netcare.co.za

http://www.netcare.co.za


Date: 22-11-2021 08:00:00
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