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NOVUS HOLDINGS LIMITED - Updated Trading Statement for the year ended 31 March 2020

Release Date: 02/07/2020 14:10
Code(s): NVS     PDF:  
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Updated Trading Statement for the year ended 31 March 2020

Novus Holdings Limited
(Incorporated in the Republic of South Africa)
JSE share code: NVS
ISIN: ZAE000202149
(“Novus Holdings”, “the Company” or “the Group”)

Updated Trading Statement for the year ended 31 March 2020

Shareholders are referred to the trading statement released on the Johannesburg Stock Exchange
News Service (“SENS”) on 14 April 2020. The board is now in a position to confirm the trading statement
guidance for the year ended 31 March 2020, as follows:

-   Basic loss per share is expected to be in a range of 118 cents per share and 122 cents per share.
    This compares to the reported basic earnings per share of 56,4 cents for the year ended 31 March

-   Headline earnings per share (“HEPS”) is expected to be within the range of 21 cents per share and
    25 cents per share. This corresponds to a decline of between 58,6% and 65,2% when compared to
    the reported HEPS of 60,4 cents for the year ended 31 March 2019.

The impairments to property, plant and equipment of R438m, goodwill of R86m and intangible assets
of R5m, which were described in the SENS announcement of 14 April have been accounted for in this
trading statement. Other factors that have negatively impacted the Group’s earnings per share
relative to the comparative period include: tough trading conditions related to the downturn in the
local economy coupled with intensified competitive activity, load shedding, above-inflationary input
price increases, and volatile exchange rates. Results also account for the increased credit risk relating
to customer receivables due to the lockdown and negative impact of COVID-19 on the economic

Management is pleased to report that all of the Group’s facilities have recommenced trading after the
COVID-19 lockdown. Market demand remains weak, but based on the current outlook the
impairments passed in the period appear to be adequate. Management continues to assess capacity
requirements and to extract maximum cost savings from the rationalised base.

Given the trading impact of the COVID-19 lockdown and subsequent weak demand for most of the
Group products, the Board will continue to prioritise cash preservation and liquidity for the
foreseeable future.

The above information has not been reviewed or reported on by the Company`s auditors. The
Company`s year-end results are expected to be published on or about 31 July 2020. Notice of
Integrated Annual Report 2020, No Change Statement, Notice Of Annual General Meeting and
Publication of B-BBEE Annual Compliance Report shall be published thereafter.

Cape Town
02 July 2020
Sponsor: Investec Bank Limited

Date: 02-07-2020 02:10:00
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