17 May - 3 min read

Audited results for the year ended 28 February 2021

Audited results for the year ended 28 February 2021

Balwin Properties Limited
(Incorporated in the Republic of South Africa)
(Registration number:2003/028851/06)
Share code: BWN
ISIN: ZAE000209532
(“Balwin” or “the group”)


Audited results for the year ended 28 February 2021


Balwin is a specialist, national residential property developer of large-scale sectional title
estates with a focus on high quality, affordable apartments with an innovative lifestyle offering
for clients.

The 2021 financial year was characterised by unprecedented socio-economic and market
conditions with unusual working and living environments. Although the macro-economic
conditions and the devastating impact of Covid-19 are reflected in the results of the group for
the year ended 28 February 2021, the board is satisfied with the processes implemented to
best mitigate the impact of the pandemic on the group’s operational and financial
performance.


FINANCIAL HIGHLIGHTS

Revenue                                               Decrease of 7% to R2.7 billion

Profit for the year                                   Decrease of 18% to R336.4 million

Earnings per share                                    Decrease of 19% to 71.67 cents per share

Headline earnings per share                           Decrease of 19% to 71.47 cents per share

Net asset value per share                             Increase of 8% to 682.83 cents per share


DIVIDEND

Notice is hereby given that the board has declared a final gross dividend of 16.20 cents per
ordinary share. No dividend was declared in the corresponding period. The dividend is
payable out of income reserves for the period ended 28 February 2021 to ordinary
shareholders in accordance with the time table below:

Declared                                      Monday 17 May 2021
Last day to trade (cum dividend)              Monday, 14 June 2021
Ex dividend                                   Tuesday, 15 June 2021
Record date                                   Friday, 18 June 2021
Payment date                                  Monday, 21 June 2021

Dividend tax amounting to 3.24 cents per ordinary share will be withheld in terms of the Income
Tax Act. Ordinary shareholders who are not exempt from dividends tax will therefore receive a
dividend of 12.96 cents net of dividends tax. The company has 472 192 592 ordinary shares in
issue. Balwin’s income tax reference number is 9058216848. Share certificates may not be
dematerialised or rematerialised between Tuesday, 15 June 2021 and Friday, 18 June 2021,
both days inclusive.

SHORT-FORM ANNOUNCEMENT

This short-form announcement is the responsibility of the Board of Directors of Balwin. It contains
only a summary of the information in the full announcement (“full announcement”) and does
not contain full or complete details. The full announcement can be found at:
https://senspdf.jse.co.za/documents/2021/jse/isse/BWNE/YE21.pdf

Copies of the full announcement, which includes the unmodified audit report and key audit
matters, are also available for viewing on the group’s website at
https://www.balwin.co.za/investor-relations/results-reports-webcasts/financial-results/full-
year-results/ or may be requested in person, at the group’s registered office or the office of
the sponsor, Investec Bank Limited, 100 Grayston Drive, Sandown, at no charge, during office
hours.

Any investment decisions by investors and/or shareholders should be based on consideration
of the full announcement, as a whole.

The financial information contained in this publication has not been reviewed or reported on
by the company’s external auditors.


17 May 2021
Sponsor
Investec Bank Limited

Date: 17-05-2021 07:05:00
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