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ONELOGIX GROUP LIMITED - Unaudited condensed consolidated interim results for the six months ended 30 November 2020

Release Date: 18/02/2021 07:30
Code(s): OLG     PDF:  
Wrap Text
Unaudited condensed consolidated interim results
for the six months ended 30 November 2020

OneLogix Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/004519/06)
JSE share code: OLG
ISIN: ZAE 000026399
("OneLogix" or "the company" or "the group")

Short-form announcement: Unaudited condensed consolidated interim results
for the six months ended 30 November 2020

Revenue down by 16% to R1,22 billion
EBITDA* down by 9% to R187 million
EPS down by 39% to 10,0 cps
HEPS down by 41% to 10,1 cps
Core HEPS down by 43% to 11,5 cps
NAV up 5% to 411,4 cps
NTAV up 5% to 343 cps
Sale and leaseback of Umlaas Road phase 3 development concluded
Acquisition of Agritrans
No dividend declared
* Calculated as operating profit plus depreciation and amortisation, retrenchment
  costs and share-based payments

Notwithstanding the prevailing listless economic environment, each of the 12 group
companies is in good health having weathered the Covid-19-related impact.

Some have achieved a profit improvement, while others remain inherently relevant
with a strong underlying business strategy, skilful, resilient and innovative
management teams together with a strong customer base that will ensure their

After careful consideration, the board has decided not to declare an interim
dividend, as the group wishes to preserve its cash resources given prevailing
uncertain market conditions and the need to expand and grow the business
should the opportunities arise.

Trading conditions for all group companies are expected to remain difficult for
the foreseeable future.

We are experiencing a significant reduction in vehicle stockholding volumes in
our storage yards as a result of the reduced stockholding models implemented
by the original equipment manufacturers to navigate current trading conditions
as well as component stock shortage affecting production output. We will continue
to monitor the situation.

Going forward, our strategy remains unaltered. We will continue to focus on
extracting maximum efficiencies from existing businesses in order to protect and
grow their individual market shares in their respective niche markets. The executive
management team maintains full confidence in our experienced, stable management
teams with their proven entrepreneurial skills, and fully expects them to continue
guiding our businesses through the prevailing unprecedented and tough market
conditions. Notwithstanding the difficult market conditions, our tested business
models have ensured that each group business remains well-placed within its
respective market and is well-equipped to both withstand economic headwinds
and to exploit emerging opportunities.

We expect acquisitive opportunities to continue, given the severity of the economic
difficulties and we will continue to assess these appropriately together with further
start-up opportunities.

This short-form announcement is the responsibility of the directors and is only a
summary of the information in the full announcement. The full announcement can
be found on the company's website at -,
and can also be accessed using the following JSE link from
Thursday, 18 February 2021. Copies of the full announcement may also be
requested at the company's registered office (46 Tulbagh Road, Pomona, Kempton
Park) and at the office of the sponsor (6th Floor, 1 Park Lane, Wierda Valley, Sandton)
at no charge, during office hours from Thursday, 18 February 2021 to Thursday,
25 February 2021. Any investment decision should be based on the full
announcement published on SENS and on the company's website.

By order of the board

Ian Lourens

Geoff Glass

18 February 2021

LJ Sennelo (Chairperson)*#
NJ Bester
GM Glass (FD)
AJ Grant*#
IK Lourens (CEO)
CV McCulloch (COO)
IM Pule*#
KV Ratshefola*#
K Schoeman*
* Non-executive 
# Independent

Registered office
46 Tulbagh Road
Kempton Park

PostNet Suite 10
Private Bag X27
Kempton Park

Company secretary
CIS Company Secretaries (Pty) Ltd
Rosebank Towers
15 Biermann Avenue Rosebank

Private Bag

Transfer secretaries
Computershare Investor Services (Pty) Ltd Rosebank Towers
15 Biermann Avenue Rosebank

Private Bag

Java Capital
6th Floor
1 Park Lane
Wierda Valley

Date: 18-02-2021 07:30:00
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