Enhanced Investments - Financial Portal

Interim results for the six months ended 30 June 2023 and announcement of dividend declaration

Published: 2023-08-28 08:05:56 ET

ADvTECH Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1990/001119/06)
JSE code: ADH ISIN number: ZAE000031035
Income taxation number: 9550/190/71/5
("ADvTECH" or "the group” or “the company”)

INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2023 AND ANNOUNCEMENT OF
DIVIDEND DECLARATION

1. Salient features

Revenue increased by 16% to R3 932 million from R3 380 million in the comparable period.

Operating profit before interest and non-trading items increased by 23% to R754 million from R612 million
in the comparable period.

Normalised earnings increased by 26% to R459 million from R365 million in the comparable period.

Normalised earnings per share (“NEPS”) increased by 25% to 84.3 cents per share from 67.3 cents per
share in the comparable period.

Headline earnings per share (“HEPS”) increased by 24% to 84.3 cents per share from 68.0 cents per share
in the comparable period.

Earnings per share (“EPS”) increased by 24% to 84.4 cents per share from 68.2 cents per share in the
comparable period.

An interim dividend of 30.0 cents per share was declared compared to the 23.0 cents per share dividend
declared for the comparable period.

2. Declaration of interim dividend no. 26

While the board still see significant investment opportunities, the consistent growth trend and continuing
strong cash generation, together with a sound balance sheet and reduced borrowings, has given the
board the confidence to increase the dividend at a marginally higher rate than the growth in earnings.

The board is pleased to announce the declaration of an interim dividend of 30.0 cents (2022: 23.0 cents)
per ordinary share in respect of the six months ended 30 June 2023.

This is a dividend as defined in the Income Tax Act, 1962, and is payable from income reserves. The South
African dividend taxation (DT) rate is 20%. The net amount per share payable to shareholders who are not
exempt from DT is 24.0 cents per share, while it is 30.0 cents per share to those shareholders who are
exempt from DT.

There are 555 513 343 ordinary shares in issue; the total dividend amount payable is R166.7 million.

The salient dates applicable to the dividend referred to above are as follows:

Declaration of interim dividend by the board Friday, 25 August 2023
Announcement of interim results for 2023 on SENS Monday, 28 August 2023
Last day to trade in order to participate in the dividend Tuesday, 12 September 2023
Trading commences ex-dividend Wednesday, 13 September 2023
Record date Friday, 15 September 2023
Dividend payment date Monday, 18 September 2023

Share certificates may not be dematerialised and rematerialised between Wednesday, 13 September
2023, and Friday, 15 September 2023, both days inclusive.
3. Short-form announcement

This short form announcement, which is the responsibility of ADvTECH’s directors, is only a summary of
the information in the full announcement and does not contain full or complete details. Any investment
decisions by shareholders and/or investors should be based on consideration of the full announcement
published on SENS on 28 August 2023. The full announcement is available through the following JSE
Cloudlink at:

https://senspdf.jse.co.za/documents/2023/JSE/ISSE/ADH/FY2023H1.PDF

The full announcement is also available for viewing on the company’s weblink at:

https://irp.cdn-website.com/24847d5c/files/uploaded/ADvTECH_Long_Form_June_2023.pdf

or a copy may be requested in person, at the company’s registered office or the office of the sponsor, at
no charge, during office hours. Copies of the full announcement may also be requested from ADvTECH’s
group investor relations at investorrelations@advtech.co.za.

28 August 2023
Johannesburg
Sponsor: Bridge Capital Advisors 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.
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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.