EOH : Unaudited interim condensed consolidated financial statements for the six months ended 31 January 2022

Unaudited interim condensed consolidated financial statements for the six months ended 31 January 2022

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: UNAUDITED INTERIM CONDENSED CONSOLIDATEDFINANCIAL STATEMENTS FOR THE 
SIX MONTHS ENDED 31 JANUARY 2022

Salient features

   - Following the successful execution of its turnaround strategy, EOH posted headline earnings per
     share of 41 cents per share, resulting in a 214% improvement from a total headline loss per share
     for the six months ended 31 January 2021 ("HY2021").

   - The Group generated an operating profit of R167 million from continuing and discontinued
     operations for the six months ended 31 January 2022 ("HY2022") compared to R76 million
     generated for HY2021.

   - The Group also delivered a significant improvement in Gross Profit margin, Operating Profit margin
     and EBITDA margin for HY2022.

   - Cash generated from operations was positive for the period and the Group had a cash balance as at
     31 January 2022 of R625 million including restricted cash of R85 million and cash in entities held
     for sale of R116 million. EOH had undrawn overdraft facilities of R250 million available as at
     12 April 2022.

   - Significant progress was made in the deleveraging strategy with the proceeds from the sale of
     Sybrin, announced 8 June 2021, received on 31 March 2022. The sales of the Information Services
     companies, expected to conclude in May 2022, and Network Solutions were also announced on 11
     March 2022 and 7 April 2022 respectively. The Group has repaid R360 million of debt since 31
     January 2022 following the receipt of the proceeds from the Sybrin sale and anticipates a further
     c.R500 million from the announced sales above.

   - Key financial indicators
           o   Total revenue - R3 511 million
           o   Gross profit margin improvement to 29.9% for HY2022 from 27.6% for HY2021
           o   Operating profit margin increased to 4.8% for HY2022 from 1.7% for HY2021
           o   Adjusted EBITDA margin improved to 9.7% for HY2022 from 7.9% for HY2021
           o   Total earnings per share ("EPS") - 13 cents
           o   Total Headline earnings per share ("HEPS") - 41 cents

 Total operations                 HY2022                     HY2021                     % Change
                                                             Restated
 Revenue                          R 3 511 million            R 4 376 million                 (20)
 EPS                              13 cents per share         83 cents loss per share          116
 HEPS                             41 cents per share         36 cents loss per share          214
 Adjusted EBITDA*                 R339 million               R347 million                     (2)

*
 Adjusted EBITDA is defined as profit/(loss) before depreciation, amortisation, share-based payment expense, gain/loss on 
disposal of subsidiaries and equity-accounted investments, impairments of nonfinancial assets, share of profit/loss of
equity-accounted investments, remeasurement gain/losses on vendors for acquisition liability, interest income,
interest expense and current and deferred tax.

The presentation of the Group's interim results hosted by EOH CEO Stephen van Coller and CFO Megan
Pydigadu, may be viewed via a webinar at 11h00 on 13 April 2022, by following the link:
www.eoh.co.za/watchresults

This short-form announcement is the responsibility of the directors. This short-form announcement is only
a summary of the information in the full announcement and does not contain full or complete details. The
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 consideration of the full
announcement published on SENS and the issuer'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/investor-
relations/financial-results/   and    is     also     available      on     the     JSE    website     at:
https://senspdf.jse.co.za/documents/2022/jse/isse/EOH/H12022.pdf

Copies of the full announcement may be requested from [e-mail] or the sponsor, Java Capital at
[e-mail] and is available for inspection at EOH's registered office (Block D, EOH
Business Park, Osborne Lane, Bedfordview, 2007) and the offices of the sponsor, Java Capital (6th Floor,
1 Park Lane, Wierda Valley, Sandton, 2196), at no charge, during normal business hours.

13 April 2022


Sponsor
Java Capital

Date: 13-04-2022 07:30:00
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