Group Final Results Presentation for the year ended 30 April 2015 - - PowerPoint PPT Presentation

▶
group final results presentation
SMART_READER_LITE
LIVE PREVIEW

Group Final Results Presentation for the year ended 30 April 2015 - - PowerPoint PPT Presentation

Sep 13, 2023 356 likes •636 views

HOLDINGS LIMITED Group Final Results Presentation for the year ended 30 April 2015 Agenda Restructure Financial results Group Infrastructure Consumer Infrastructure overview Consumer overview Questions

slide-1
SLIDE 1

Group Final Results Presentation

for the year ended 30 April 2015

HOLDINGS LIMITED

slide-2
SLIDE 2

Agenda

  • Restructure
  • Financial results
  • Group
  • Infrastructure
  • Consumer
  • Infrastructure overview
  • Consumer overview
  • Questions
slide-3
SLIDE 3

SA (PTY) LTD

HOLDINGS LIMITED

Restructure

ELECTRONICS (PTY) LTD

slide-4
SLIDE 4

Restructuring

Old structure New structure

Ellies Holdings Limited Ellies Holdings Limited

Ellies (Pty) Ltd Ellies (Pty) Ltd

Consumer Division Consumer Division Infrastructure Division Infrastructure Division 100%

Ellies Holdings Limited Ellies Holdings Limited

Ellies Electronics (Pty) Ltd (Consumer business) Ellies Electronics (Pty) Ltd (Consumer business) Megatron SA (Pty) Ltd (Infrastructure business) Megatron SA (Pty) Ltd (Infrastructure business)

Ellies Electronics Holdings (Pty) Ltd Ellies Electronics Holdings (Pty) Ltd

100% 100% 100%

In order to house stand alone debt facilities for both businesses, an internal restructure of the group has been effectively implemented on 1 May 2015 (New structure)

  • The consumer business was sold to from Ellies (Pty) Ltd to

Ellies Electronics (Pty) Ltd.

  • In preparation for further potential restructuring,

Ellies Electronics has its own holding company.

  • Ellies (Pty) Ltd, which kept the Infrastructure business, changed

its name to Megatron SA (Pty) Limited. Ellies Properties (Pty) Ltd Ellies Properties (Pty) Ltd

Ellies Properties (Pty) Ltd Ellies Properties (Pty) Ltd

slide-5
SLIDE 5

Financial results

slide-6
SLIDE 6

Financial results

Revenue R 1.8 billion

  • Infrastructure continued down 43% to R 414 million
  • Consumer and Properties up 1% to R 1 389 million

14.4%

Operating loss R 347.1 million

  • Infrastructure continued
  • loss of R258,7 million
  • Consumer and Properties - loss of R50,3m

481,3% 14.4% 329.2%

slide-7
SLIDE 7

Financial results

14.4%

Loss before taxation R 396.6 million

  • Infrastructure continued - loss of R 285,4 million
  • Consumer and Properties - loss of R 73,2 million

446.7% 481.3%

HLPS 81.34 cents

  • Infrastructure continued

loss of 60.11 cents

  • Consumer and Properties

loss of 14.92 cents

slide-8
SLIDE 8

Financial results

NAV per share 190.76 cents NTAV per share

Number of shares in issue: At year end 453 057 398 Post July 2015 Rights Issue 620 158 235

44.1%

140.70 cents

44.7%

slide-9
SLIDE 9

R’000 12 months 30 April 2015 12 months 30 April 2014 Revenue 316 366 531 676 Operating (loss) / profit (259 317) 62 692 (Loss) / profit before taxation (285 934) 44 935 Taxation 34 971 (12 756) Taxation rate 12.2% 28.4% (Loss) / profit for the year (250 963) 32 179

Statement of Comprehensive Income

Infrastructure

  • Revenue was severely impacted by:
  • The ability to execute in a timely manner due to liquidity constrains.
  • Revenue from discontinued operations of R97,9 million not included.
  • Tax rate low due to reversal of prior year deferred tax assets in Botjheng Water

and not raising the current values in Megatron SA.

slide-10
SLIDE 10

R’000 At 30 April 2015 Key items At 30 April 2014 Non-current Assets 248 631 Property, plant and equipment 23 254 29 504 Goodwill and other intangible assets 173 407 207 708 Other financial assets 1 144 4 264 Deferred taxation 50 826

  • Current Assets

484 277 Inventories 15 824 113 759 Trade and other receivables 80 761 152 351 Amounts due from contract customers 348 615 420 497 Taxation receivable 29 267 28 631 Bank and cash balances 9 810 Assets held for disposal 49 517 Total assets 782 425

Statement of Financial Position - Assets

Infrastructure

slide-11
SLIDE 11

R’000 At 30 April 2015 Key items At 30 April 2014 Non-current liabilities 96 210 TERM debt – 5 year Current liabilities 159 472 Interest bearing liabilities 210 Vendor loan payable 3 000 3 000 Shareholder loans payable 311 Trade and other payables 135 093 160 193 Amount due to contract customers 13 662 17 368 Provisions 7 116 1 750 Taxation payable 45 Shareholders dividends 35 Liabilities held for disposal 4 444 Total liabilities 260 126

Statement of Financial Position – Liabilities

Infrastructure

slide-12
SLIDE 12

R’000 12 months 30 April 2015 12 months 30 April 2014 Revenue 1 388 932 1 379 326 Operating (loss) / profit (50 293) 101 075 (Loss) / profit before taxation (75 952) 71 006 Taxation 18 825 (23 080) Taxation rate 24.8% 32.5% (Loss) / profit for the year (57 127) 47 926

Statement of Comprehensive Income

Consumer and Property

  • Revenue maintained in trying consumer environment.
  • Stock impairments.
  • Sale of Eskom LED’s and other related product as cost or below cost in order to

improve liquidity.

slide-13
SLIDE 13

Statement of financial position - Assets

Consumer and Property

R’000 At 30 April 2015 Key items At 30 April 2014 Non-current Assets 207 094 Property, plant and equipment 142 061 150 131

  • Land and buildings

89 201 96 155

  • Other

52 860 53 976 Goodwill and other intangible assets 53 672 Investment in associate 10 011 Deferred taxation 1 350 Current Assets 743 996 Inventories 467 080 633 146 Trade and other receivables 263 033 243 064 Taxation receivable 1 283 Bank and cash balances 12 600 Total assets 951 090

slide-14
SLIDE 14

Statement of financial position - Assets

Consumer

R’000 At 30 April 2015 At 30 April 2014 Inventories 467 080 633 146

April 2015 April 2014 April 2013 467 080 633 146 521 830

  • R63.8m inventory impairments mainly, resulting from cancelled projects.
  • Reduced OVHD stock at year end and further reductions post year end.
  • Further reductions expected over the next 12 – 18 months.
slide-15
SLIDE 15

Statement of financial position – Liabilities

Consumer and Property

R’000 At 30 April 2015 Key items At 30 April 2014 Non-current liabilities 48 946 R45m of Property debt – 5 year Current liabilities 569 397 Interest bearing liabilities 154 796 Will reduce by R150m post RO Trade payables 282 496 307 566 Bank overdraft 128 818 Other 3 287 Total equity and liabilities 618 343

slide-16
SLIDE 16

Contributors and prospects

slide-17
SLIDE 17

Contributors and prospects

Infrastructure

Strategic reduction in South African manufacturing

  • NUMSA strike action
  • Supply chain disruption
  • Slowdown in local mining spend
  • Reduced local government spend
  • Losses of approximately R25 million
  • Retrenchment costs of R3.1 million

Contributors to current year performance

slide-18
SLIDE 18

Infrastructure Projects

  • Liquidity challenges impacted on revenue but with fixed costs
  • Extension of time related costs
  • Delay damages

Once off and non-cash items

  • Impairment of goodwill of R34.4 million relating to Botjheng Water
  • Reversal of prior year deferred tax assets of approximately R9,1 million
  • Deferred tax assets of approximately R27,5 million not raised in the current year
  • Impairments to accounts and construction receivables of approximately

R84.2million

  • Retrenchment costs paid of approximately R1.6 million
  • Onerous contract provision raised of R4.1 million

Contributors and prospects

Infrastructure

slide-19
SLIDE 19

Contributors and Prospects

Infrastructure

Prospects

  • Improved liquidity in the 2nd quarter
  • Favorable debt package in place
  • Completion of onerous contracts
  • Completion of projects with extended payment terms
  • Fixed cost structure reduced by 50% from 2nd quarter
  • Order book until 2018 intact going forward
  • Substantial new project pipeline
slide-20
SLIDE 20

Contributors and prospects

slide-21
SLIDE 21
  • Load Shedding has contributed to a significant increase in sales
  • Concentration on retail domestic products
  • Locally manufactured and assembled inverter trolleys are the biggest sellers
  • Marketing drive to educate and promote our backup power products on

TV, radio, digital and social media

Back up generation

Contributors and prospects

Consumer

slide-22
SLIDE 22

Contributors and prospects

Consumer

slide-23
SLIDE 23

Satellite MultiChoice

  • Slow down of MultiChoice sales
  • New offering of vouchers
  • Rugby World Cup promo
  • Satellite product approved for MultiChoice Africa

Contributors and prospects

Consumer

slide-24
SLIDE 24

OVHD

  • Platco has subsidized the product since

December

  • Over 70 000 sold since December
  • Reduced stock holding

Contributors and prospects

Consumer

slide-25
SLIDE 25

Consumer Lighting

  • Commercial lighting still gaining momentum
  • Consumer Lighting unregulated, very competitive
  • New range launching for festive season

Contributors and prospects

Consumer

slide-26
SLIDE 26

Digital Terrestrial Television Usaasa (Universal Service and Access Agency of South Africa)

  • Approved supplier for 2 tenders
  • Satellite
  • Aerials

Multichoice

  • Approved supplier for DTT rollout

Contributors and prospects

Consumer

slide-27
SLIDE 27

Thank you

for your attendance and participation

www.elliesholdings.com www.ellies.co.za

For any further Investor Relations questions please contact: Wayne Samson (CEO) 011 490 3840 Irwin Lipworth (CFO) 011 490 3939 Ryan Otto (MD Infrastructure) 011 976 3009 Lynne Bothma (Keyter Rech Investor Solutions): 087 351 3815