Distell Group Holdings (JSE:DGH) News - Unaudited Group results for the six months ended 31 December 2021

Distell Group Holdings Limited
Incorporated in the Republic of South Africa
Registration number: 2016/394974/06
JSE share code: DGH
ISIN: ZAE000248811
("Distell" or "the Group" or "the Company")

Unaudited Group results for the six months ended 31 December 2021


1.FINANCIAL RESULTS - SALIENT FEATURES

- Group revenue up 15,8% on 12,1% higher volumes
  - Domestic revenue and volumes up 22,9% and 15,4% respectively driven by premium RTD and spirits growth
  - Africa revenue growth of 5,3% alongside volume growth of 13% outside SACU despite prolonged channel 
    closures and export challenges
  - International revenue marginally down; double-digit single malt growth
- Excise duty up by 26,1% to R5,6 billion
- EBITDA
  - Reported up 10,0%
  - Normalised and adjusted for forex up 4,4% (1) (2)
- Headline earnings
  - Reported up 17,5%
  - Normalised and adjusted for forex up 6,2% (2)
- Dividend payments remain suspended due to the Heineken transaction

  1 Normalised earnings before interest, tax, depreciation and amortisation (EBITDA) refers to EBITDA adjusted for the: 
    (a) profit or loss on disposal and impairment of property, plant and equipment (PPE) and intangible assets; 
    (b) retrenchment, legal disputes and merger and acquisition related costs, and 
    (c) the net losses relating to the civil unrest in South Africa.

  2 Foreign currencies and abnormal transactions affect the Group's performance. Where relevant in this report, adjusted
    non-IFRS measures are presented. These adjusted measures represent pro forma financial information. A reconciliation 
    of the pro forma financial information to the equivalent IFRS metrics is provided in note 14 to the condensed 
    consolidated interim financial statements.

  3 SACU = The Southern African Customs Union

Group revenue increased by 15,8% to R17,8 billion (2020: R15,4 billion). Headline earnings per share increased by 17,4%
to 718,2 cents (2020: 612,0 cents), and earnings per share by 13,6% to 725,9 cents (2020: 639,0 cents).

2. DIVIDENDS

The scheme meeting relating to the Heineken International B.V. transaction was held on 15 February 2022. Shareholders
approved all resolutions by 94%. The transaction is subject to several conditions, one of which relates to Distell not
making any distributions, including dividend declarations, to its shareholders. In light of this, the Distell board has
taken a decision not to declare an interim dividend for the six months ended 31 December 2021.

3. SHORT-FORM ANNOUNCEMENT

This short-form announcement is the responsibility of the directors of the Company. It contains only a summary of the
information in the full announcement and does not contain full or complete details. The full announcement can be found
at: https://senspdf.jse.co.za/documents/2022/JSE/ISSE/DGHE/DGH1H22.pdf

The full announcement is also available for viewing on the Investor Relations (IR) section of the Company's website at:
https://www.distell.co.za/investor-centre/financial-results/DGH1H22.pdf

In addition, electronic copies of the full announcement may be requested and obtained, at no charge, from the Company
at investor.relations@distell.co.za or from the Company's Sponsor and Corporate Broker, Rand Merchant Bank (A division
of FirstRand Bank Limited).

Any investment decisions should be based on consideration of the full announcement.

The Company has based this short-form announcement on the unaudited financial results for the six months ended 
31 December 2021 which have not been reviewed by the Company's external auditors, PricewaterhouseCoopers Inc.

4. RESULTS WEBCAST AND PRESENTATION

Shareholders and other interested parties are invited to join management in discussing Distell's interim results via
webcast and conference call at 11:00 am SAST on Thursday, 24 February 2022.

Presentation details:

- Webcast link: https://78449.themediaframe.com/links/distell220224.html
- Conference call preregistration:
https://services.choruscall.za.com/DiamondPassRegistration/register?confirmationNumber=3507155&linkSecurityString=63a93f324

- Conference call:
- Johannesburg:      011 535 3600
- Other Countries:   +27 11 535 3600
- UK:                0 333 300 1418
- USA & Canada:      1 508 924 4326
- Presentation slides will be made available on the webcast and on the Group's website shortly after the live broadcast
  of the webcast.
- A Q&A facility will be available during the presentation via webcast or telephone.

IR Contact: 
Frank Ford
fsford@distell.co.za

Stellenbosch
Approved by the board: 23 February 2022
SENS release date: 24 February 2022

Sponsor and Corporate Broker:
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 24-02-2022 07:05:00
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