Wrap Text
Unaudited Consolidated Interim Results for the six months ended 31 August 2020
FINBOND GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2001/015761/06)
Share code: “FGL”
ISIN: ZAE000138095
(“Finbond” or “the Company” or “the Group")
UNAUDITED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2020
HIGHLIGHTS
• During these unprecedented six months under review, Finbond’s results were adversely affected
by the COVID-19 pandemic.
• The value of loans advanced decreased by 33% to R1,93 billion (August 2019: R2,87 billion).
• Accordingly, net unsecured loans and advances decreased by 28% to R656,9 million (August 2019:
R913,3 million). The significant drop in loans advanced (sales volumes) due to COVID-19 has
resulted in less capital being granted, but with collections holding firm, this has led to an increase
in surplus cash as unsecured loans and advances are essentially being converted into cash. We are
starting to see this trend reverse slowly as sales volumes increase as the COVID-19 recovery
progresses.
• As a result, cash, cash equivalents & liquid assets increased by 69% to R1,64 billion (August 2019:
R970 million).
• Total assets increased by 13% to R4,77 billion (August 2019: R4,20 billion).
• Commercial paper increased by 73% to R1,24 billion (August 2019: R716 million).
• Turnover decreased by 28% to R935 million (August 2019: R1,29 billion).
• Earnings before interest, depreciation and amortisation (EBITDA) decreased by 66% to R116,8
million (August 2019: R340,5 million).
• Following several cost savings initiatives and restructurings, operational expenses decreased by 8%
to R709,9 million (R772,0 million).
• Global lockdowns caused by the COVID-19 pandemic have – and continue to – significantly and
adversely impact the world economy, as well as the Group’s results. Although the recovery has
begun, the further relaxation of lockdown restrictions enabling increased business activity is
essential to facilitate economic recovery.
SHORT FORM ANNOUNCEMENT
The contents of the short form announcement are the responsibility of the Board of Directors of Finbond.
The information in the short form announcement is a summary of the full announcement available on the
Company's website (www.finbondlimited.co.za) on 23 October 2020 and accordingly does not contain full
or complete details. The full announcement can also be accessed online at
https://senspdf.jse.co.za/documents/2020/JSE/ISSE/FGL/Interims20.pdf.
The information in this announcement has been extracted from the Unaudited Condensed Consolidated
Interim Financial Results, which has not been reviewed nor audited by the Company's auditor. The
Unaudited Condensed Consolidated Interim Financial Results were internally compiled by Mr. GW
Labuschagne, the Group Financial Director.
Any investment decisions by shareholders/investors should be based on the full announcement as
released by the JSE and published on the Company's website, www.finbondlimited.co.za. The full
announcement is also available at the Company's registered office (for inspection, at no charge, during
office hours on any business day) and at the offices of the sponsor, Grindrod Bank Limited, from 23
October 2020. Copies of the full announcement may be requested by contacting the Company Secretary,
Mr. B Bredenkamp.
Six Months
Six Months ended ended Full year
31 August 2019 29 February
31 August 2020 ** 2020
Revenue (R'000) 934 650 1 292 683 2 621 162
Basic earnings per share (cents) ( 16,0) 5,0 10,6
Diluted earnings per share (cents) ( 16,0) 5,0 10,6
Headline earnings per share (cents) ( 15,4) 5,0 10,3
Diluted Headline earnings per share (cents) ( 15,4) 5,0 10,3
Dividend per share (cents) - - -
Net asset value per share (cents) 192,6 183,8 193,8
For and on behalf of the Board
Dr Malesela Motlatla Dr Willem van Aardt
23 October 2020
Directors: Chairman: Dr MDC Motlatla* (BA, DCom (Unisa)); Chief Executive Officer: Dr W van Aardt (BProc
(Cum Laude), LLM (UP), LLD (PU CHE) Admitted Attorney of The High Court of South Africa, QLTT (England
and Wales), Solicitor of the Supreme Court of England and Wales); Chief Financial Officer: GW
Labuschagne (CA (SA), CPA (CA), BCom (Hons Acc), BCom (Fin Acc) (Cum Laude)); Adv N Melville* (B Law.
LLB (KZN) LLM (Cum Laude)(KZN), SEP (Harvard); HJ Wilken-Jonker* (BCom Hons (Unisa); MSc (Consumer
Sciences) (UP)); HG Kotze* (BCom (Acc)(Hons), HDip Tax, Certificate in Treasury Management); PA Naude*
(BCom (Marketing), Gaining Competitive Advantage (Michigan), IEP (INSEAD)); DC Pentz* (B Com (Hons),
(Chartered Accountant (SA), AEP (Unisa))
Secretary: B Bredenkamp (BCom Accounting, LLB, MBA (Edinburgh))
Transfer secretaries : Link Market Services South Africa (Proprietary) Limited (Registration number
2000/007239/07), 13th floor, Rennie House, 19 Ameshoff Street, Braamfontein 2001, (PO Box 4844,
Johannesburg, 2000)
Sponsor: Grindrod Bank Limited
*Non-executive
** As restated, please refer to the full announcement for further details
Date: 23-10-2020 05:30:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
