InvoCare : FY21 Appendix 4E & Financial Statements

For personal use only

INVOCARE LIMITED AND SUBSIDIARIES

Appendix 4E (rule 4.3A)

PRELIMINARY FINAL REPORT

For the year ended 31 December 2021

For personal use only

INVOCARE LIMITED AND SUBSIDIARIES

Appendix 4E

Results for announcement to the market

(All comparisons to the year ended 31 December 2020)

	2021	Up/(down)	Movement
	$'000	$'000	%
Revenue from continuing operations	532,453	54,801	11.5
Operating earnings after income tax attributable to ordinary equity holders of
InvoCare Limited*	45,143	17,147	61.2
Net profit from ordinary activities after income tax attributable to ordinary equity
holders of InvoCare Limited	80,158	91,700	794.5
Net profit after income tax attributable to ordinary equity holders of InvoCare Limited	80,158	91,700	794.5

• This is non-IFRS financial information and is reconciled to statutory profit in the Financial Report (Refer to Directors' report in the Annual Financial Report attached).

Dividend information

		Franked
	Amount per	amount per	Franking
	share	share	credit
	cents	cents	%
2021 Interim dividend	9.5	9.5	100
2021 Final dividend	11.5	11.5	100

2021 Final dividend dates

Record date	4 March 2022
Payment date	8 April 2022

The Company's Dividend Reinvestment Plan (DRP) will operate with [no discount]. Shares will be [acquired on market] and transferred to participants in accordance with the DRP Rules. The last time for the receipt of an election notice to participate in the DRP is 5:00pm on 7 March 2022.

Eligible shareholders may lodge their DRP elections electronically by logging onto InvoCare's share registry, Link Market Services, via their website at https://investorcentre.linkmarketservices.com.auand clicking on the link to Investor Login. Further information about the DRP may be found at https://www.invocare.com.au/investor-relations/for-shareholders/

Net tangible assets

		Restated*
	2021	2020
	$	$
Net tangible asset per ordinary share	2.75	2.27

• The Group has changed its accounting policy for software-as-a-service arrangements (SaaS arrangements). Refer to Note 12B of the attached Annual Financial Report for further details.

Net tangible assets include the net impact of the right of use assets and the corresponding lease liabilities accounted for under the accounting standard requirements of AASB16 Leases.

Other information

Additional Appendix 4E disclosure requirements can be found in the Annual Financial Report of InvoCare Limited for the year ended 31 December 2021.

This report is based on the consolidated financial statements which have been audited by Deloitte Touche Tohmatsu.

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For personal use only

INVOCARE LIMITED AND SUBSIDIARIES

ABN: 42 096 437 393

ANNUAL FINANCIAL REPORT

For the year ended 31 December 2021

For personal use only

INVOCARE LIMITED AND SUBSIDIARIES

Directors' report

Your directors present their report, together with the consolidated financial report of InvoCare Limited (the Company) and its subsidiaries (together referred to as InvoCare or the Group) for the financial year ended 31 December 2021, along with the independent audit report.

Company overview and principal activities

InvoCare Limited (listed on the Australian Securities Exchange, ASX:IVC), headquartered in Sydney, is a leading provider of funeral services in Australia, New Zealand and Singapore, and operates private memorial parks and crematoria in Australia and New Zealand. It is also a leading provider of pet cremation services in Australia.

The flow of the information in the Directors' report is outlined in the table below.

Page	Content of Directors' report

3	Operating and financial review
3	InvoCare at a glance

1. Our purpose, vision and values
2. Our strategic ambition for 2025
3. Risks and uncertainties

9	Financial review
14	Operating review

1. Outlook
2. Reconciliation of financial information
3. Glossary

24	Remuneration report - audited
43	Other statutory matters
43	Directors
43	Directorships of other listed companies
43	Directors' profiles

1. Meetings of directors

1. Company secretary
2. Significant changes in the state of affairs

46	Dividends
46	Subsequent events
46	Indemnification and insurance of officers

1. Environmental regulation and performance

1. Corporate governance

1. Non-auditservices
2. Rounding of amounts
3. Auditors' independence declaration

Information is only being included in the 2021 Annual Financial Report to the extent it has been considered material and relevant to the understanding of the financial performance and financial position of the Group.

A disclosure is considered material and relevant if, for example:

• the dollar amount is significant in size (quantitative factor)
• the dollar amount is significant by nature (qualitative factor)
• the Group's results cannot be understood without the specific disclosure (qualitative factor)
• it is critical to allow a user to understand the impact of significant changes in the group's business during the period such as business acquisitions (qualitative factor)

it relates to an aspect of the Group's operations that is important to its future performance

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For personal use only

INVOCARE LIMITED AND SUBSIDIARIES

Directors' report

Operating and financial review

InvoCare at a glance

InvoCare is a leading provider of funerals, burials and cremations in Australia, New Zealand, and Singapore and operates private memorial parks and crematoria in Australia and New Zealand. It is also a leading provider of pet cremation services in Australia.

Our purpose, vision and values

Our purpose is in 'honouring life, celebrating memories for generations', which reflects that, with our team, breadth of offering and strategic assets, InvoCare is uniquely positioned to service our customers' needs along their lifetime journey.

Our vision is: 'To be entrusted with all lives, as a respected pillar of our communities and a leader in our field'.

Garnering community trust in our brands, having offerings that cater to the diversity of our markets and being a valued leader within the death care sector is fundamental to our long-term success and the creation of shareholder value.

Underpinning the achievement of our strategic objectives and the culture of InvoCare are our CARES values: Collaboration: We respect one another and achieve more by working together

Accountability: We always act with integrity, through honesty, fairness and accountability

Responsiveness: We put our clients and community first, by listening, anticipating, supporting and actioning, to exceed their expectations

Excellence: We continuously improve the way we do business through innovation, creativity and flexibility

Safety: We keep everyone safe, everywhere and every day

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