EOH HOLDINGS LIMITED – Summary of audited financial statements for the year ended July 31, 2022 and availability of integrated annual report – SENS

                            

Summary audited financial statements for the year ended 31 July 2022 and availability of annual integrated report

EOH HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/014669/06)
JSE share code: EOH ISIN: ZAE000071072
(‘EOH’ or ‘the Group’)

SHORT-FORM ANNOUNCEMENT: SUMMARY AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 AND AVAILABILITY OF THE ANNUAL
INTEGRATED REPORT

Salient features

– EOH generated a total operating profit of R282 million for the year ended 31 July 2022 (‘FY2022’) following a total operating
profit of R147 million for the year ended 31 July 2021 (‘FY2021’), an increase of 92%.
– Operating profit from continuing operations improved 82% to R100 million in FY2022 from R55 million in FY2021.
– EOH recorded an improvement of 91% in total loss per share (‘LPS’) to 15 cents for FY2022 from 166 cents for FY2021.
– The Group refinanced its debt into a R500 million 3-year term senior facility and a bridge facility with R728 million currently
outstanding, repayable on 31 December 2023. This has created more certainty around the capital structure and near-term
liquidity.
– EOH had a net cash balance at 31 July 2022 of R459 million, with unutilised direct short-term facilities of R250 million. The
Group repaid R733 million of debt during FY2022 and had gross debt of R1.3 billion at 31 July 2022. Subsequent to year end
the sales of the Network Solutions business (‘EOH-NS’) and Hymax (SA) Proprietary Limited (‘Hymax SA’) were concluded
resulting in a further R104 million of debt being repaid.
– Key financial indicators:
– Revenue – R6 billion from continuing operations.
– Total gross profit margin improvement to 29.1% for FY2022 from 27.9% in FY2021 from continued and
discontinued operations.
– Total operating margins improvement to 4.07% for FY2022 from 1.86% in FY2021 from continued and
discontinued operations.
– Total adjusted EBITDA of R504 million for FY2022 at a margin of 7.3%.

Total Operations Continuing Operations
Audited for the year Audited for the year % Audited for the year Audited restated for %
ended 31 July 2022 ended 31 July 2021 Change ended 31 July 2022 the year ended Change
31 July 2021

Revenue R6 931 million R7 882 million (12.1%) R6 031 million R6 472 million (6.8%)

Loss per share 15 cents 166 cents 91.0% 99 cents 181 cents 45.3%
Headline loss per share 18 cents 22 cents 18.2% 72 cents 98 cents 26.5%
Adjusted EBITDA R504 million R667 million (24.4%)

The presentation of the Group’s annual results hosted by the Group Chief Executive Officer Stephen van Coller and Group Chief
Financial Officer Megan Pydigadu may be viewed via a webinar at 11h00 on 27 October 2022, by following the link:
https://www.eoh.co.za/results

Shareholders are advised that EOH’s annual integrated report together with the audited financial statements for the year ended
31 July 2022 is available on the Company’s website at: https://www.eoh.co.za/investorrelations/financial-results/.

The annual general meeting (‘AGM’) will be held on Tuesday, 13 December 2022 at 09:00 am by way of electronic participation.
The notice of AGM together with the summarised audited financial statements for the year ended 31 July 2022 will be dispatched
to shareholders by no later than 31 October 2022 and will be made available on the Company’s website.

This short-form announcement is the responsibility of the directors of EOH. This short-form announcement is only a summary of
the information contained in the full announcement and does not contain full or complete details. The annual financial statements
for the year ended 31 July 2022 have been audited by the Group’s external auditors, PricewaterhouseCoopers Inc. (‘PwC’) who
have expressed an unqualified audit opinion thereon. The audit report also includes communication of key audit matters pertaining
to the impairment assessment of goodwill arising from business combinations and the accounting treatment of indirect tax exposures
for EOH Group and expected credit losses relating to loans advanced to group Companies for EOH Company. These are disclosed
on pages 10 and 11 of the Group’s consolidated annual financial statements for the year ended 31 July 2022 which is available on
the Company’s website at https://www.eoh.co.za/investor-relations/financial-results/.

This short-form announcement has not been audited or reviewed by the Company’s external auditors. Any investment decisions by
investors and/or shareholders should be based on a consideration of the full announcement published on SENS and the EOH’s
website as a whole. The full announcement, which has been released on SENS, is available on EOH’s website at:
https://www.eoh.co.za/investorrelations/financial-results/ and is also available on the JSE website at:
https://senspdf.jse.co.za/documents/2022/jse/isse/eoh/FY2022.pdf

Copies of the full announcement may be requested from [email protected] or the sponsor, Java Capital at [email protected]

26 October 2022

Sponsor
Java Capital
Date: 26-10-2022 05:15:00
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