APPENDIX 4D HALF YEAR REPORT

DEC 2020

APPENDIX 4D HALF YEAR REPORT DEC 2020

Key Dates

Contents

Company Info

26 February 2021

Announcement of Half-Year Profit to 31 December 2020 & Announcement of Interim

Results for Announcement to the Market

3

Directors' Report

4-25

Registered Office A1 Richmond Road, Homebush West NSW 2140 Ph: 02 9201 6111

2021 Dividend

Fax: 02 9201 6250

1 April 2021

1 April 2021

Statement of Financial Position

26

Record Date for Determining Entitlement to Interim 2021

Income Statement

27

Dividend

Share Registry Boardroom Pty Limited, Level 12, 225 George Street, Sydney NSW 2000

3 May 2021

Payment of Interim 2021

Statement of Comprehensive Income

Ph: 02 9290 9600

28

Auditors

Dividend

Statement of Changes in Equity

Ernst & Young (EY)

29-30

31 August 2021

Announcement of Full-Year Profit to 30 June 2021

Statement of Cash Flows

31

Announcement of Final 2021

Dividend

Notes to the Financial Statements

32

Securities Exchange Listing Shares in Harvey Norman Holdings Limited (HVN) are quoted on the Australian Securities Exchange Limited (ASX)

8 October 2021

Record Date Determining Entitlement to Final 2020

Other Information

54

Solicitors

Brown Wright Stein

Dividend

Directors' Declaration

55

1 November 2021

Company Secretary Mr. Chris Mentis

Payment of Final 2021

Independent Auditor's Review Report

56

Dividend

1H21 RESULTS FOR ANNOUNCEMENT TO THE MARKET

HARVEY NORMAN HOLDINGS LIMITED

REPORTED PBT

FROM $301.15m IN 1H20

PBT

Excluding AASB 16 net impact and net property revaluations

$643.91m

$610.22m

UP

113.8%

UP

113.5%

BY

BY

REPORTED PROFIT AFTER TAX & NCI

$462.03m

UP BY

116.3%

FROM $213.59m IN 1H20

FROM $285.87m IN 1H20

PROFIT AFTER TAX & NCI

Excluding AASB 16 net impact and net property revaluations

FROM $203.04m IN 1H20

$438.17m

UP

115.8%

BY

INTERIM DIVIDENDS

NET ASSETS $3.74 billion

13.9% FROM $3.28bn IN DEC 19

BASIC EARNINGS PER SHARE

37.08c

FROM 17.70c IN 1H20

PER SHARE

(FULLY FRANKED)

20.0c

HNHL CONSOLIDATED REVENUES

$2.34 billion

COMPANY-OPERATED SALES REVENUE . . . . . . . . . . . . . . . . . . . . . . . . . . $1.47bn

UP

BY

27%REVENUE RECEIVED FROM FRANCHISEES . . . . . . . . . . . . . . . . . . . . . $742.07m

FROM $1.84 billion IN 1H20

REVENUES AND OTHER INCOME ITEMS . . . . . . . . . . . . . . . . . . . . . . . $123.70m

$5.23 billion

AGGREGATED HEADLINE FRANCHISEE SALES REVENUE*. . $3.76bn

UP 24.8%COMPANY-OPERATED SALES REVENUE . . . . . . . . . . . . . . . . . . $1.47bn

BY

FROM $4.19 billion IN 1H20

* Sales made by franchisees in Australia do not form part of the financial results of the consolidated entity.

539

FRANCHISEES IN AUSTRALIA

194

FRANCHISED COMPLEXES IN AUSTRALIA

OFFSHORE COMPANY

107 OPERATED STORES

TOTAL SYSTEM SALES REVENUE

APPENDIX 4D 31 DECEMBER 2020

3

DIRECTORS' REPOROTPERATING AND FINANCIAL REVIEW (CONTINUED)OPERATING AND FINANCIAL REVIEW (CONTINUED)

OPERATING AND FINANCIAL REVIEW

FINANCIAL HIGHLIGHTS

RECORD FINANCIAL

ACHIEVEMENTSOLID BALANCE SHEET

PROPERTY

Reported profit before tax (PBT) of $643.91m, up by $342.76m or +113.8% from 1H20.

PBT (excluding net property re-valuations & AASB 16) of $610.22m, up by $324.36m or +113.5% from 1H20.

Aggregated headline franchisee sales revenue totalled $3.76 bil-lion, up by +27.3% in 1H21 vs 1H20.

Franchising operations segment revenue of $689.27m up by $245.46m or +55.3% from 1H20.

Franchising operations segment result of $383.96m up by $260.10m or +210.0%.

Franchising operations margin of 10.22% for 1H21, up by 603 bps from a margin of 4.19% for 1H20.

1H21 offshore company-operated retail revenue of $1.39bn, up by $242.72m or +21.1%.

1H21 offshore company-operated retail result of $138.15m, up by $56.46m or +69.1%.

APPENDIX 4D 31 DECEMBER 2020

Robust balance sheet with total assets of $6.26bn, including tan-gible freehold property assets of $3.10bn.

Net assets of $3.74bn up by +13.9% from Dec-19.

Net debt to equity: NIL in Dec-20 vs. 16.57% in Dec-19.

Positive net cash position of $21.75m (cash net of interest-bearing loans and borrowings) at the end of 1H21 vs. a net debt position of $553.23m at the end of 1H20.

Net cash flows from operating Net cash flows from operating activities of $391.95m for 1H21, up $93.18m or +31.2%, from $298.77m for 1H20.

Earnings per share of 37.08 cents, up by +109.5% from 17.70 cents for 1H20.

194 franchised complexes in Aus-tralia and 107 company-operated stores overseas.

$3.10 billion property portfolio, con-sisting of freehold investment prop-erties, owner-occupied properties in New Zealand, Singapore, Slovenia, Ireland and Australia, joint venture assets and assets held for resale.

$1.16 billion right-of-use assets, con-sisting of leases of owner-occupied properties of $528.26 million, and leases of properties sub-leased to external parties of $631.35 million.

12 new company-operated stores opened during 1H21 as planned:

  • • Galway, Ireland (Jul-20)

  • • Dunedin (outlet), New Zealand (Aug-20)

  • • Seletar Mall, Singapore (Sep-20)

  • • The Centrepoint, Singapore (Sep-20)

  • • Grey Lynn (commercial show-room), New Zealand (Oct-20)

  • • Glen Innes (outlet), New Zealand (Oct-20)

  • • Sligo, Ireland (Nov-20)

  • • Pula, Croatia (Nov-20)

  • • Westgate, Singapore (Nov-20)

  • • KL East Mall, Malaysia (Nov-20)

  • • Menara, Malaysia (Dec-20)

  • • Quayside Mall, Malaysia (Dec-20)

1 new premium-format Harvey Nor-man® franchised complex opened at Hornsby, NSW (Oct-20).

4

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Harvey Norman Holdings Ltd. published this content on 26 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 February 2021 02:40:02 UTC.