31 Aug - 3 min read

Interim results for the six months ended 30 June 2021 and announcement of dividend declaration

Interim results for the six months ended 30 June 2021 and announcement of dividend declaration

ADvTECH Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1990/001119/06)
JSE code: ADH         ISIN number: ZAE 0000 31035
Income taxation number: 9550/190/71/5
("ADvTECH" or "the group" or “the company”)


INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2021 AND ANNOUNCEMENT OF
DIVIDEND DECLARATION

1. Salient features

Revenue increased by 1% to R2 860 million, from R2 829 million in the prior corresponding period.

Operating profit before interest and non-trading items increased by 16% to R514 million, from R445
million in the prior corresponding period.

Normalised earnings increased by 31% to R297 million, from R226 million in the prior corresponding
period.

Normalised earnings per share (“NEPS”) increased by 31% to 54.6 cents per share, from 41.8 cents
per share in the prior corresponding period.

Headline earnings per share (“HEPS”) increased by 37% to 54.6 cents per share, from 40.0 cents per
share in the prior corresponding period.

Earnings per share (“EPS”) increased by 69% to 56.9 cents per share, from 33.6 cents per share in the
prior corresponding period.

An interim dividend of 19.0 cents per share was declared compared to no dividend declared for the prior
corresponding period.

2. Declaration of interim dividend no. 22

Following a period of significant investment, the group is now benefiting from the returns. With a lower
level of capital expenditure over the last 18 months, together with the robust performance and strong
cash generation of the group, net borrowings have significantly reduced, a trend which is expected to
continue in future. This has given the board confidence to re-instate the payment of dividends at a
similar cover ratio as was in place prior to the economic disruption caused by the COVID-19 pandemic.

The board is pleased to announce the declaration of an interim dividend of 19.0 cents (2020: no
dividend) per ordinary share in respect of the half year ended 30 June 2021.

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 15.2 cents per share, while it is 19.0 cents per share to those
shareholders who are exempt from DT.

There are 551.8 million ordinary shares in issue; the total dividend amount payable is R104.8 million.

The salient dates applicable to the dividend referred to above are as follows:
Declaration of dividend:                                       Monday, 30 August 2021
Announcement of interim results for 2021                       Tuesday, 31 August 2021
Last day to trade in order to participate in the dividend:     Tuesday, 14 September 2021
Trading commences ex-dividend:                                 Wednesday, 15 September 2021
Record date:                                                   Friday, 17 September 2021
Payment date:                                                  Monday, 20 September 2021

Share certificates may not be dematerialised and rematerialised between Wednesday, 15 September
2021, and Friday, 17 September 2021, 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 31 August 2021. The full announcement can be found at:

https://senspdf.jse.co.za/documents/2021/jse/isse/ADH/FY2021H1.pdf
The full announcement is also available for viewing on the company’s website at

https://irp.cdn-website.com/24847d5c/files/uploaded/2021_ADvTECH_Interim_Results_June_2021.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.

31 August 2021
Johannesburg
Sponsor: Bridge Capital Advisors Proprietary Limited

Date: 31-08-2021 07:20:00
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