|The board of directors of MOTUS ("Board") wishes to advise shareholders that, Mr. Rohan Venter has resigned as company secretary and Ms. Janine Jefferies has been appointed to the position with effect from 1 July 2019. Mr. Venter will continue to serve as company secretary until 30 June 2019 and will continue to act in an advisory capacity until 30 November 2019.|
The board is satisfied that Ms. Jefferies has the necessary skills and experience to fulfil this function.
|Motus announced that Mrs Kerry Ann Hitzinger-Cassel (45) (Bachelor of Commerce Accounting (Honours), Chartered Accountant (S.A.)), has been appointed as an Executive Director to the board of directors of MOTUS ("Board"), with effect from 1 July 2019.|
|MOTUS published their maiden set of interim results, therefore there are no comparative figures. Revenue for the interim period came in at R39.379 billion, earnings before interest, taxation, depreciation and amortisation ("EBITDA") was recorded at R2.477 billion, operating profit was R1.838 billion, net profit attributable to owners of MOTUS was R871 million, while headline earnings per share was 456 cents per share. |
An interim dividend of 240 cents per share has been declared, in line with our targeted pay-out ratio of 45% of normalised HEPS. This is an increase of 15% from the prior period pro forma dividend. Normalised HEPS excludes the once-off and non-cash flow item amounting to R160 million.
The group has produced solid financial results for the six-month period under challenging trading conditions. We anticipate satisfactory operating and financial results to June 2019, subject to stable currencies and economic growth in the economies in which we operate.
For the financial year to 30 June 2019 we expect:
- challenging economic trading conditions to remain in all geographies where we operate;
- to increase revenue;
- to maintain operating profit;
- to improve working capital efficiency and reduce debt; and
- to achieve growth in normalised HEPS.
|Shareholders of MOTUS are referred to the pre-listing statement of MOTUS published on 27 September 2018 in terms of which shareholders were advised that Messrs MJN Njeke and S Mayet will be appointed to the board of directors of MOTUS ("the board"), effective 2 January 2019 and that Mr RJA Sparks and Me T Skweyiya will retire from the board with effect from the same date.|
The board announced however that the appointments and consequent resignations referred to above, will now take effect on 22 November 2018.
The board is further announced the appointment of Keneilwe Moloko (CA(SA), BCom (UCT), BSc QS (UCT), Certificate in Financial Markets as independent non-executive director, effective 22 November 2018.
|Motus is a diversified (non-manufacturing) business in the automotive sector with unrivalled scale and scope in South Africa, and a selected international presence, primarily in the UK and Australia. Motus? unique business model is fully integrated across the automotive value chain through its four key business segments, namely; Import and Distribution, Retail and Rental, Motor-Related Financial Services and Aftermarket Parts.|
The activities of Motus? business segments are described below:
*Import and Distribution: Exclusive South African importer of International vehicle brands such as Hyundai, Kia, Renault and Mitsubishi.
*Retail and Rental: Retails passenger and commercial vehicles in South Africa, the UK and Australia. Rents vehicles through car rental outlets in South Africa and neighbouring countries.
*Motor-Related Financial Services: Manages and administers service, maintenance and warranty plans for vehicles and develops and sells value added products. Provides fleet management services and deploys an innovation hub.
*Aftermarket Parts: Distributor, wholesaler and retailer of accessories and aftermarket parts for vehicles through owned branches, retail stores, a network of franchised outlets and specialised workshops.