Enhanced Investments - Financial Portal

Unaudited condensed consolidated interim financial results for the six months ended 31 December 2022

Published: 2023-03-30 16:00:36 ET

                                                  York Timber Holdings Limited
                                                  (Incorporated in the Republic of South Africa)
                                                  (Registration number: 1916/004890/06)
                                                  JSE share code: YRK
                                                  ISIN: ZAE000133450
                                                  (“York” or the “Company”)



UNAUDITED CONDENSED CONSOLIDATED
INTERIM FINANCIAL RESULTS
for the six months ended 31 December 2022
                                                                   www.york.co.za
RESULTS OVERVIEW
•	Revenue down by 7% to R902 million*
•	Adjusted EBITDA (earnings before interest, taxation, depreciation,
   amortisation, impairment and fair value adjustment on biological assets)
   down by R80 million*
•	Debt reduced by R96 million. Net debt stands at R365 million. Debt to
   adjusted EBITDA was at 8,6 times
•	Cash generated from operations decreased by 32% from R120,5 million*
   to R81 million
• Biological asset value at R2 899 million
• Net working capital decreased by 6% to R108 million
• Earnings per share decreased from 17,04* cents to 11,89 cents per share
•	Headline earnings per share decreased from 17,11* cents to 11,90 cents
   per share
•	Core earnings per share decreased from 10,55* cents to a loss of 7,31 cents
   per share
•	Net asset value per share increased from 962* cents per share to 965 cents
   per share
•	No dividend has been declared for the six months ended 31 December 2022
   (2021: Rnil)

* The prior period figures have been restated. Refer to note 12 to the unaudited condensed
   consolidated interim financial statements.


ABOUT THIS SHORT-FORM ANNOUNCEMENT
This short-form announcement is the responsibility of the board of directors
of the Company (Board) and is only a summary of the information in the full
announcement and does not contain full or complete details. Any investment
decision by investors and/or shareholders should be based on consideration
of the full announcement. The full announcement is accessible via the following
JSE link: https://senspdf.jse.co.za/documents/2023/jse/isse/YRK/Interim23.pdf
and can be found on the Company’s website at
https://www.york.co.za/downloads/Yorkinterim2023.pdf.
Copies of the full announcement may also be requested at the Company’s
registered office and at the office of our sponsor, One Capital, at no charge, on
Mondays to Fridays, during office hours.

On behalf of the Board
Gabriël Stoltz
Chief Executive Officer and interim Chief Financial Officer

30 March 2023

Executive director: Gabriël Stoltz (CEO and interim CFO)
Non-executive directors: Nonzukiso Siyotula* (Chairperson), Hetisani Mbanyele-Ntshinga*,
Maxwell Nyanteh*, Andries Brink*, André van der Veen, Lindani Dhlamini*, Alton Solomons,
Adrian Zetler (* independent)
Registered office: York Corporate Office, 3 Main Road, Sabie, Mpumalanga
Postal address: PO Box 1191, Sabie, 1260
Auditor: Deloitte & Touche
Company Secretary: Kilgetty Statutory Services (South Africa) Proprietary Limited
Sponsor: One Capital
17 Fricker Road, Illovo, Johannesburg, 2196
Transfer secretaries: Computershare Investor Services Proprietary Limited

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

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Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.