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NETCARE LIMITED - Group results for the year ended 30 September 2019

Release Date: 18/11/2019 08:00
Code(s): NTC NTCP     PDF:  
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Group results for the year ended 30 September 2019

Netcare Limited
Registration number: 1996/008242/06
(Incorporated in the Republic of South Africa)
JSE ordinary share code: NTC
ISIN: ZAE000011953
JSE preference share code: NTCP
ISIN: ZAE000081121
("Netcare" or the "Company")

Group Results for the year ended 30 September 2019

-   Patient days up 3.7%
-   Normalised EBITDA from continuing operations up 4.3%
-   SA cash generated from operations up 13.5%
-   Adjusted HEPS from continuing operations up 3.0%(1)
-   Final dividend per share up 6.7%

Group financial information
                                                                                            Year ended
                                                                                  30 September     30 September             %
Rm                                                                                        2019             2018         change
Statement of profit or loss
Revenue                                                                                 21 589           20 717             4.2
EBITDA before items below                                                                4 388            4 209            4.3
Exceptional items                                                                          128           (1 544)
Realisation of FCTR(2)                                                                     128                -
Impairment of contractual economic interest                                                  -           (1 544)
EBITDA                                                                                   4 516            2 665           69.5
Operating profit                                                                         3 768            1 942           94.0
Profit for the year from continuing operations                                           2 478            1 006          146.3
Loss for the year from discontinued operations                                               -             (467)
Profit on loss of control                                                                    -            4 205
Profit for the year                                                                      2 478            4 744          (47.8)
Statement of financial position
Total assets                                                                            21 415           20 764             3.1
Total liabilities                                                                       11 180           10 349             8.0
Total shareholders' equity                                                              10 235           10 415            (1.7)
Net debt                                                                                 5 114            4 805            6.4
Earnings and dividends per share (cents)
Basic earnings per share                                                                 176.7            357.7          (50.6)
Diluted earnings per share                                                               175.0            353.6          (50.5)
Headline earnings per share                                                              165.9             49.3          236.5
Adjusted headline earnings per share for continuing operations(1)                        171.2            166.2            3.0
Dividend per share                                                                       111.0            104.0            6.7
Special dividend per share                                                                   -             40.0

1. Base equalised to exclude prior year's interest income on contractual economic interest in BMI Healthcare's debt.
2. Foreign currency translation reserve.

Declaration of dividend number 21

Notice is hereby given of the declaration of a gross final dividend of 64.0 cents per ordinary share in respect of the year ended 30 September 2019. The dividend
has been declared from income reserves and is payable to shareholders recorded in the register at the close of business on Friday, 24 January 2020. The
number of ordinary shares (inclusive of treasury shares) in issue at the date of this declaration is 1 451 843 229. The dividends will be subject to a local dividend
withholding tax at a rate of 20%, which will result in a net final dividend to those shareholders not exempt from paying dividend withholding tax of 51.2 cents per
ordinary share and 64.0 cents per ordinary share for those shareholders who are exempt from dividend withholding tax.

The Board has confirmed by resolution that the solvency and liquidity test as contemplated by the Companies Act 71 of 2008 has been duly considered, applied
and satisfied.

The salient dates applicable to the dividends are as follows:

Last day to trade cum dividend                                                                                                      Tuesday, 21 January 2020
Trading ex-dividend commences                                                                                                       Wednesday, 22 January 2020
Record date                                                                                                                         Friday, 24 January 2020
Payment date                                                                                                                        Monday, 27 January 2020

Share certificates may not be dematerialised nor rematerialised between Wednesday, 22 January 2020 and Friday, 24 January 2020, both dates inclusive.

On Monday, 27 January 2020, the dividends will be electronically transferred to the bank accounts of all certificated shareholders. Holders of dematerialised
shares will have their accounts credited at their participant or broker on Monday, 27 January 2020.

Netcare Limited’s tax reference number is 9999/581/71/4.
On behalf of the Board

Thevendrie Brewer
Chairperson

Richard Friedland
Chief Executive Officer

Keith Gibson
Chief Financial Officer

Sandton
14 November 2019

This short-form announcement is the responsibility of the directors, it is only a summary of the information in the full announcement and does not contain the
full or complete details. The full announcement can be found on the Company’s website on www.netcare.co.za/Netcare-Investor-Relations as well as on the JSE's
website at https://senspdf.jse.co.za/documents/2019/jse/isse/NTC/ye2019.pdf. Copies of the full announcement are available for inspection and may also be
requested at the Company's registered office, at no charge, during office hours. Any investment decisions should be based on consideration of the full
announcement published on the JSE's website and on the Company's website.

This short-form announcement is itself not audited but extracted from audited results.

Registered office: 76 Maude Street (corner West Street), Sandton 2196, Private Bag X34, Benmore 2010 Executive directors: RH Friedland (Chief Executive
Officer), KN Gibson (Chief Financial Officer) Non-executive directors: T Brewer (Chairperson), MJ Kuscus, KD Moroka, N Weltman, M Bower, B Bulo, L Human
Company Secretary: L Bagwandeen Sponsor: Nedbank Corporate and Investment Banking, 135 Rivonia Road, Sandown, 2196 Transfer secretaries: 4 Africa
Exchange Registry (Pty) Ltd, Cedar Woods House, Ballywoods Office Park, 33 Ballyclare Drive, Bryanston, Tel: 011 100 8352 Investor relations: ir@netcare.co.za

www.netcare.co.za

18 November 2019

Date: 18/11/2019 08:00:00
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