Enhanced Investments - Financial Portal

Unaudited condensed consolidated interim financial results for the six months ended 31 December 2023

Published: 2024-03-28 15:40:28 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 2023
                                                                     www.york.co.za
RESULTS OVERVIEW
• Revenue decreased by 2% to R882 million
• Adjusted EBITDA^ decreased by R54 million*
•	Debt (including the Absa IMX facility) reduced by R5,4 million. Net debt stands
   at R292 million
• Cash generated from operations decreased by R111 million*
• Biological asset value increased by 5% to R2 657 million
• Net working capital increased by 21% to R155 million
• Earnings per share decreased from 13,26 cents* to 5,64 cents
• Headline earnings per share decreased from 13,27 cents* to 4,67 cents
•	Core earnings per share decreased from a loss of 2,62 cents* to a loss of 10,06 cents
• Net asset value per share increased from 579 cents to 584 cents
•	No dividend has been declared for the six months ended 31 December 2023
   (2022: Rnil)

  * T he prior period figures have been restated. Refer to note 3 to the unaudited
     condensed consolidated interim financial results.
  ^
    Earnings before interest, taxation, depreciation, amortisation, impairment and
     fair value adjustment on biological assets.



ABOUT THIS ANNOUNCEMENT
This announcement is the responsibility of the directors. As the information in this
announcement does not provide all of the details, any investment decision should
be based on consideration of the Group’s unaudited condensed consolidated
interim financial statements for the six-months ended 31 December 2023, which
are accessible via the following JSE cloudlink:
https://senspdf.jse.co.za/documents/2024/jse/isse/YRK/Interim24.pdf
and can be found on the Company’s website at:
http://www.york.co.za/wp-content/uploads/2024/03/YorkInterimResults2024.pdf.


On behalf of the Board
Gabriël Stoltz                              Schalk Barnard
Chief Executive Officer                     Chief Financial Officer
Sabie, Mpumalanga
28 March 2024


Executive directors: Gabriël Stoltz (Chief Executive Officer),
Schalk Barnard (Chief Financial Officer)
Non-executive directors: Nonzukiso Siyotula* (Chairperson), Hetisani Mbanyele-Ntshinga*
Maxwell Nyanteh* (Lead Independent Director), 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 and Touche
Company Secretary: Kilgetty Statutory Services (South Africa) Proprietary Limited
Sponsor: One Capital Sponsor Services Proprietary Limited
Sponsor address: 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.