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Audited Group financial results and cash dividend declaration for the year ended 30 June 2022

Published: 2022-08-25 08:06:09 ET

Adcock Ingram Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2007/016236/06)
Share code: AIP ISIN: ZAE000123436
("Adcock Ingram" or "the Company" or "the Group")

Audited Group financial results and cash dividend
declaration for the year ended 30 June 2022

Revenue +12%
Gross profit +14%
Trading profit +22%
HEPS +24%
Dividend +25%
B-BBEE level 2

Introduction
The Board of Directors (Board) is very pleased to report a strong operational and financial performance,
driven by improved demand for its over-the-counter (OTC) and consumer healthcare products.

The Group has achieved healthy growth in turnover, which with some benefit from the exchange rate
and an advantageous sales mix, has yielded an exceptional increase in trading profit and excellent cash
generation.

Dividend
The Board has declared a final dividend of 109 cents per share for the year ended 30 June 2022 out
of income reserves, bringing the total dividend for the year to 213 cents, an increase of 25% over the
prior year and in line with the growth in earnings.

Prospects
Given the ongoing weakness in the local economy, high fuel prices and the significant deterioration of the Rand,
much of our focus for 2023 will be on management of margins.Consumers are likely to remain under pressure because
of rising food, transport and energy costs.

We remain cautious, but we are confident in the resilience of our balanced portfolio of healthcare brands,
with a proven ability to adapt to changing market dynamics.

                                                               Change         Audited               Audited
                                                                    %            2022                  2021
Revenue                                              (R'000)       12     8   705 817             7 776 854
Gross profit                                         (R'000)       14     3   057 755             2 682 775
Trading profit                                       (R'000)       22     1   112 287               914 610
Operating profit                                     (R'000)       24     1   052 820               849 755
Headline earnings per share                          (cents)       24           502.0                 404.7
Basic earnings per share                             (cents)       25           494.8                 396.3
Total assets                                         (R'000)              7   889 162             7 040 418
Net asset value per share                            (cents)                  3 242.4               2 894.7
Interim dividend declared per share                  (cents)                    104.0                  80.0
Final dividend declared per share                    (cents)                    109.0                  90.0
Segment revenue
Consumer                                             (R'000)      23      1   562   727           1   267   287
OTC                                                  (R'000)      19      2   059   258           1   735   239
Prescription                                         (R'000)       7      3   228   242           3   021   520
Hospital                                             (R'000)       6      1   855   035           1   752   229
Segment trading profit
Consumer                                             (R'000)      49          351 144                 235 380
OTC                                                  (R'000)       9          318 080                 292 327
Prescription                                         (R'000)     24         276 451                      223 826
Hospital                                             (R'000)      2         164 350                      161 385

Dividend distribution
The Board has declared a final gross dividend out of income reserves of 109 cents per share in respect
of the year ended 30 June 2022. The South African dividend tax ("DT") rate is 20% and the net dividend
payable to shareholders who are not exempt from DT is 87.20 cents per share. Adcock Ingram currently has
169 758 861 ordinary shares in issue and qualifying for ordinary dividends. The income tax reference number
is 9528/919/15/3.

The salient dates for the distribution are detailed below:
Last date to trade cum distribution                                        Tuesday,   13   September   2022
Shares trade ex distribution                                             Wednesday,   14   September   2022
Record date                                                                 Friday,   16   September   2022
Payment date                                                                Monday,   19   September   2022

Share certificates may not be dematerialised or rematerialised between Wednesday, 14 September 2022 and
Friday, 16 September 2022, both dates inclusive.

N Madisa                                                                                              AG Hall
Chairperson                                                                           Chief Executive Officer

Approved by the Board: 24 August 2022

SENS release date: 25 August 2022

Company secretary M Phalafala

Registered office 1 New Road, Midrand, 1682

Postal address Private Bag X69, Bryanston, 2021

Transfer secretaries Computershare Investor Services Proprietary Limited, Rosebank Towers, 15 Biermann Avenue,
Rosebank, Johannesburg, 2196. Private Bag X9000, Saxonwold, 2132

Auditors PricewaterhouseCoopers Inc, 4 Lisbon Lane, Waterfall, 2090

Sponsor Rand Merchant Bank (a division of FirstRand Bank Limited), 1 Merchant Place, corner Fredman
Drive and Rivonia Road, Sandton, 2196

Bankers Nedbank Limited, 135 Rivonia Road, Sandown, Sandton, 2146. Rand Merchant Bank, 1 Merchant Place,
corner Fredman Drive and Rivonia Road, Sandton, 2196. Investec Bank Limited, 100 Grayston Drive, Sandton, 2146

The full announcement has been published on SENS and is available at
https://senspdf.jse.co.za/documents/2022/JSE/ISSE/AIP/AIP022022.pdf The contents of this short-form
summary announcement are the responsibility of the Board of Directors. Any investment decision should be
considered and based on the content of the information contained in the full announcement and the group
annual financial statements which includes the unqualified audit opinion, that will be published
on the Company's website at www.adcock.com/investors/financialreports. Copies of the full
announcement are available for inspection at the registered office of the Company and may be requested
without charge during office hours by phoning +27 11 635 0143.

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

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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.