ADVTECH LIMITED - Results for the year ended 31 December 2020 and announcement of dividend declaration

Results for the year ended 31 December 2020 and announcement of dividend declaration

ADvTECH Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1990/001119/06)
JSE code: ADH         ISIN: ZAE0000 31035
Income taxation number: 9550/190/71/5
("ADvTECH" or "the group" or “the company”)


RESULTS FOR THE YEAR ENDED 31 DECEMBER 2020 AND ANNOUNCEMENT OF DIVIDEND
DECLARATION

1. Salient features

Revenue increased by 8% to R5 499 million, from the R5 108 million in the prior corresponding period.

Operating profit before interest and non-trading items increased by 5% to R910 million, from the R869
million in the prior corresponding period.

Normalised earnings increase by 6% to R486 million, from the R459 million in the prior corresponding
period.

Normalised earnings per share (“NEPS”) increased by 5% to 89.8 cents per share, from the 85.2 cents
per share in the prior corresponding period.

Headline earnings per share (“HEPS”) increased by 6% to 91.2 cents per share, from the 86.0 cents
per share in the prior corresponding period.

Earnings per share (“EPS”) decreased by 2% to 85.1 cents per share, from the 87.1 cents per share in
the prior corresponding period.

Dividends for the year of 20.0 cents per share was declared compared to the 15.0 cents per share
declared for the prior corresponding period.

2. Declaration of final dividend no. 21

Having reviewed the manner in which the business coped thus far with the circumstances created by
the pandemic together with the strong cash generation, sound balance sheet and satisfactory
enrolments for 2021 the board has decided to resume the payment of dividends.

The board is pleased to announce the declaration of a final gross dividend of 20.0 cents (2019: no
dividend) per ordinary share in respect of the year ended 31 December 2020. This brings the full year
dividend to 20.0 cents (2019: 15.0 cents) per share.

This is a dividend as defined in the Income Tax Act, 1962, and is payable from income reserves. The
South African dividend taxation (DT) rate is 20%. The net amount per share payable to shareholders
who are not exempt from DT is 16.0 cents per share, while it is 20.0 cents per share to those
shareholders who are exempt from DT.

There are 551.8 million ordinary shares in issue; the total dividend amount payable is R110.4 million.

The salient dates applicable to the dividend referred to above are as follows:
Declaration of dividend: Thursday, 18 March 2021
Last day to trade in order to participate in the dividend: Tuesday, 13 April 2021
Trading commences ex-dividend: Wednesday, 14 April 2021
Record date: Friday, 16 April 2021
Payment date Monday, 19 April 2021
AGM Thursday, 27 May 2021

Share certificates may not be dematerialised and rematerialised between Wednesday, 14 April 2021,
and Friday, 16 April 2021, both days inclusive.
3. Short-form announcement

This short form announcement, which is the responsibility of ADvTECH’s directors, is only a summary
of the information in the full announcement and does not contain full or complete details. Any investment
decisions by shareholders and/or investors should be based on consideration of the full announcement
published on SENS on 23 March 2021. The full announcement can be found at:

https://senspdf.jse.co.za/documents/2021/jse/isse/ADH/AFSYE2020.pdf

The full announcement is also available for viewing on the company’s website at
https://irp-cdn.multiscreensite.com/24847d5c/files/uploaded/ADvTECH_Annual_Results_2020_Long%20Form.pdf

or a copy may be requested in person, at the company’s registered office or the office of the sponsor,
at no charge, during office hours. Copies of the full announcement may also be requested from
ADvTECH’s group investor relations at investorrelations@advtech.co.za.

Deloitte & Touche, the group’s independent auditor, has audited the consolidated annual financial
statements of ADvTECH and has expressed an unmodified audit opinion on the consolidated annual
financial statements.
The auditor report (with Key Audit Matters) issued on the consolidated annual financial statements
and the actual consolidated annual financial statements can be accessed at:

https://irp-
cdn.multiscreensite.com/24847d5c/files/uploaded/ADvTECH%20Group%20Annual%20Financial%20
Statements%2031%20Dec%202020.pdf

This short-form announcement itself is not audited or reviewed.


23 March 2021
Johannesburg
Sponsor: Bridge Capital Advisors Proprietary Limited

Date: 23-03-2021 08:59:00
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