Sun International Limited (JSE:SUI) News - Trading Statement

SUN INTERNATIONAL LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1967/007528/06)
Share code: SUI
ISIN: ZAE000097580
LEI: 378900835F180983C60
("Sun International" or “the Company”)


TRADING STATEMENT


The Sun International group (“the Group”) is currently finalising its financial results for the
year ended 31 December 2021, which are expected to be released on the Stock Exchange
News Service of the JSE Limited (“SENS”) on or about Monday, 14 March 2022.

Sun International achieved extremely pleasing results during 2021, with strong recovery in
revenue and EBITDA and a significant reduction in group debt. Our core casino operations
and alternate gaming, which represent approximately 80% of revenues, have proven their
resilience despite the ongoing impact which Covid-19 related restrictions had on operations.

Shareholders are accordingly advised that a reasonable degree of certainty exists that the
Company’s: -

-      adjusted EBITDA* for the financial year ended 31 December 2021 is expected to be
       an adjusted EBITDA profit of between R1,600 million and R1,720 million, which
       equates to an improvement of more than 100% when compared against the prior
       year’s profit of R737 million;
-      basic earnings per share for the financial year ended 31 December 2021 is expected
       to be a profit of between 65 cents per share and 135 cents per share, which equates
       to an improvement of between 106% and 113% when compared against the prior
       year’s loss of 1 045 cents per share;
-      headline earnings per share for the financial year ended 31 December 2021 is
       expected to be a profit of between 95 cents per share and 115 cents per share, which
       equates to an improvement of between 141% and 149% when compared against the
       prior year’s headline earnings loss of 234 cents per share; and
-      adjusted headline earnings per share for the year ended 31 December 2021 is
       expected to be a profit of between 30 cents per share and 54 cents per share, which
       equates to an improvement of between 105% and 109% when compared against the
       prior year’s loss of 633 cents per share.

The difference between headline earnings per share and adjusted headline earnings per
share relates primarily to the proceeds received from insurance claims of R522 million,
which are excluded from adjusted headline earnings.

*Adjusted EBITDA is defined as earnings before interest (which includes gains and losses on foreign exchange transactions),
tax, depreciation and amortisation, and is also presented before recognising expenses which are of an unusual and infrequent
nature as a result of unforeseen and atypical events. The proceeds received from business interruption insurance claims of
R522 million are excluded from Adjusted EBITDA.

This trading statement has not been reviewed or reported on by Sun International’s
external auditor.
By order of the Board.

Johannesburg
9 March 2022

Sponsor to Sun International
INVESTEC BANK LIMITED

Date: 09-03-2022 11:30:00
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