INTERIM RESULTS PRESENTATION for the six months ended 30 September - - PowerPoint PPT Presentation

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INTERIM RESULTS PRESENTATION for the six months ended 30 September - - PowerPoint PPT Presentation

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INTERIM RESULTS PRESENTATION for the six months ended 30 September 2018 Presented by Arnold Goldstone (Chief Executive Officer) Agenda 01 First things first 02 The period in perspective 03 Divisional review Capital Equipment Group (CEG)

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INTERIM RESULTS PRESENTATION

for the six months ended 30 September 2018 Presented by Arnold Goldstone (Chief Executive Officer)

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2 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Agenda

The period in perspective

02

Divisional review

03

Group financial overview

04

Prospects and strategy

05

Appendix

06

Capital Equipment Group (CEG) Engineering Solutions Group (ESG)

First things first

01

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3 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

First things first

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4 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

First things first

1. SARS settlement

  • SENS announcement 27 September 2018
  • R750m settlement – due and payable over four years:

› R300m in October 2018 (completed) › R100m due in October 2019, October 2020 and October 2021 – total R300m › R150m in October 2022 (final)

  • The R750m is the full and final SARS settlement
  • Provisions:

› R550m up to 31 March 2018; and › R200m provision in 1H2019 - final

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5 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

First things first (continued)

2. Offshore plans

  • Exchange one Invicta SA ordinary/preference share for one Invicta Global
  • rdinary/preference share
  • Delist Invicta SA and list Invicta Global on the JSE
  • Decision to not proceed with corporate action mainly due to:

› Brexit uncertainty › Worldwide macro-economic turmoil and trade wars › Closing current workstreams › No effect on global growth strategy at this stage › Local growth opportunities exist

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6 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

First things first (continued)

3. Cashflow and dividends

  • Specific taxation expense has had a materially negative impact on the results
  • Cash flow is improving with further improvement expected in 2H2019
  • Made it possible to pay interim dividend of 50cps
  • Expected improvement in cash flow should enable Invicta to resume normal

dividend policy:

› 3.50x dividend cover at interims; and › 2.75x dividend cover at year end

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7 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

First things first (continued)

4. Recent cautionary announcement

  • SENS released on 8 October 2018
  • General repurchase of shares in November 2015 included shares which were

acquired from two directors - breach of JSE Listings Requirements

  • Company immediately notified the JSE and its auditors of the breach
  • Transactions were reversed in February 2016 at no cost to the company
  • Allegation made recently that the company and/or its directors did not fully and

accurately disclose all the relevant facts to the JSE during the course of the JSE’s 2016 investigation

  • Company has appointed an independent third party, Moore Stephens, to

consider and advise it in regard to the allegations as the company is not aware of the alleged impropriety

  • Shareholders will be kept informed of developments
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8 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

The period in perspective

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9 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Revenue

↑ 5%

to R5,3 billion

Operating profit before foreign exchange movements

↓ 11%

to R403 million

Headline earnings per share before specific tax expense

↓ 17%

to 189 cents

Headline earnings per share after specific tax expense

↓ 99%

to 2 cents

Results at a glance

Tough markets, satisfactory results excluding anomalies

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10 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Profit before tax

↓ 8%

to R368 million

NAV per share

↓ 2%

to 4842 cents to 4073 cents

TNAV per share

↓ 3%

Results at a glance (continued)

39 % discount to NAV 28 % discount to TNAV

R29.50

Share price 15 November 2018

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11 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

The period in perspective

Exchange rate volatility USD to ZAR chart Opening: 11.83198 Closing: 14.17908 17 % weaker in 6 months, with volatility

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12 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Divisional review

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13 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Divisional structure

  • Northmec
  • New Holland*
  • CSE
  • Doosan
  • HPE
  • ESP
  • Landboupart
  • Criterion
  • Shamrock
  • Kian Ann Group

Capital Equipment Group CEG

  • BMG
  • Hansen
  • OST
  • Fenner
  • Rustenburg Engineering
  • Joerg Foundry
  • Belt Brokers
  • Man-Dirk
  • SA Tool
  • Sibuyile
  • Toolquip & Allied
  • F&H Machine Tools
  • Autobax
  • Hyflo

Importer & distributor of agricultural equipment, construction equipment, forklifts and aftermarket replacement spare parts Leading distributor of engineering consumables services and provider

  • f engineering solutions

Engineering Solutions Group ESG

*Equipment sales discontinued May 2017. Aftermarket support continues (spare parts).

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14 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Revenue contribution by operating segment (R’m) (excluding Head Office)

*Re-presented

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15 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Operating profit contribution by operating segment after forex costs (R’m)

(excluding Head Office)

(53%)

*Re-presented

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16 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Revenue contribution by region

(excluding Head Office)

*Target: 50% offshore

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17 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Revenue contribution by sector

(excluding Head Office)

(63%) (5%)

(16%) (11%) (14%) (29%)

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18 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Return on Net Operating Assets (RONA)

(based on average net operating assets)

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Capital Equipment Group

DIVISIONAL REVIEW

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20 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Review of 1H2019

  • Markets are challenging with major pressure on equipment margins
  • Good cash generation
  • Working capital under control
  • Agriculture
  • Customer liquidity issues
  • Value of land (expropriation of land) making it difficult for farmers to gear against farms
  • Low maize prices
  • High value of used equipment in the market
  • Construction
  • Major construction companies not buying; many in business rescue
  • Large number of small companies emerging
  • Bank financing for the sector remains difficult
  • Forklifts (Logistics)
  • Market stable
  • Aftermarket spare parts
  • Holding up

Revenue – down 2% Operating profit before foreign exchange movements 14%

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21 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Review of 1H2019

Divisional Performance:

  • Agriculture
  • Market share for CaseIH Tractors and Combine Harvesters maintained
  • Retained large portion of the New Holland spare parts business
  • New equipment business restricted by value of trade ins
  • Construction
  • Retained and grown market share in some sectors with volumes up on last year
  • All construction equipment companies profitable and exceeding last years performance
  • Forklifts (Logistics)
  • Acquisition of Shamrock, Jan 2018 – awarded biggest order ever of 60 units
  • Forklift import units down for whole market by 15% (no sales stats available for market)
  • Profitable and additional investments of R40m to increase long and short term rental fleet
  • Aftermarket spare parts
  • S.A. Construction companies doing well – maintaining margins and in line with last years

profit

  • South East Asia performing within expectations related to the improved market conditions
  • S.A. Agriculture aftermarket spare parts doing well and growing
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22 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Chief Executive Officer Tony Sinclair

Northmec NHSA Landboupart Doosan HPE Africa CSE Criterion Shamrock ESP Kian Ann

Management structure

MD Ross Collard MD Brenton Kemp MD Andrew Grobler MD Alex Ackron MD Johan van der Merwe MD Marius Schutte MD David Visser MD Darrel Holton MD Danie van Aswegen MD Loy Soo Chew

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23 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Interim results summary

30 September 2018

Revenue (R’m) Operating profit margin (%) Net operating assets (R’m) Operating profit before foreign exchange movements (R’m)

First Half Second Half

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24 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Sales analysis

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25 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Gross profit analysis by income type

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26 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Market volumes

  • Agriculture equipment volumes in total market
  • Tractors

6.7%

  • Combines

2.5%

  • Construction equipment volumes in total market
  • Segments serviced by Invicta

Flat H1 2019

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27 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Yellow/white maize prices/ZAR

Maize Safex Prices – May 2013 to Sep 2018

1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 5,500 8-May-13 14-Jun-13 23-Jul-13 29-Aug-13 7-Oct-13 13-Nov-13 23-Dec-13 29-Jan-14 7-Mar-14 15-Apr-14 22-May-14 30-Jun-14 6-Aug-14 12-Sep-14 21-Oct-14 27-Nov-14 6-Jan-15 12-Feb-15 25-Mar-15 1-May-15 9-Jun-15 16-Jul-15 24-Aug-15 30-Sep-15 6-Nov-15 16-Dec-15 3-Feb-16 11-Mar-16 19-Apr-16 26-May-16 4-Jul-16 10-Aug-16 16-Sep-16 25-Oct-16 01-Dec-16 09-Jan-17 15-Feb-17 24-Mar-17 02-May-17 08-Jun-17 17-Jul-17 23-Aug-17 29-Sep-17 07-Nov-17 14-Dec-17 23-Jan-18 01-Mar-18 09-Apr-18 16-May-18 22-Jun-18 31-Jul-18 06-Sep-18 15-Oct-18

Price in ZAR

Yellow Maize White Maize

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28 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

New TLB’s supplied to customer entering the plant hire market

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29 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Outlook

Take advantage of the opportunities in each market sector by:

  • Securing aftermarket business
  • Selling volumes of machines to secure annuity business (spare parts)
  • Improve efficiencies within the group – stock turns, expense control etc.
  • Implement new ERP system
  • Participating in a R4 billion agriculture machinery tender with Department of

Rural Development

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Engineering Solutions Group

DIVISIONAL REVIEW

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31 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Review of 1H2019

Revenue 13% Operating profit before foreign exchange movements 3%

  • A strong performance by the majority of business units
  • Cost saving initiatives still a key management focus
  • The Simplify for Success initiatives are completed in BMG and is underway at the Man Dirk Group
  • New acquisitions

› Fenner (2 February 2018) › Rustenburg Engineering and Joerg Foundry (1 July 2018) › Belt Brokers (3 September 2018) › Toolquip and Allied (3 September 2018) › F&H Machine Tools (3 September 2018)

Market Trading Conditions: The first half of the year can be described as mixed

  • Mining: Remains depressed driven by generally lower commodity prices and the uncertainty with the

Mining Charter. Ongoing concerns relative to industrial action in this sector over the next few months.

  • Agriculture: Positive growth anticipated on spare parts due to improved environmental conditions

and land restitution issues which has dampened sales of new machines (therefore higher maintenance)

  • Heavy Industry: Continues to be depressed
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32 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Divisional Performance:

  • BMG
  • Solid performance ahead of plan
  • Autobax
  • Met expectations
  • Man-Dirk
  • Disappointing performance due to poor activity in the mining sector with huge pressures on

GP’s related to BBBEE and competitor activity

  • Hyflo
  • The continued lack of project work in the oil and gas industry has resulted in further

restructuring of the business

African Operations

  • A great performance in Mozambique
  • Solid performance in most of the other African operations

Working Capital:

  • The year end stock cover was maintained
  • Although under pressure, the debtors book is well managed - Insured cover remains over >R250k

Review of 1H2019

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33 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

  • Acquisition of Fenner belting boosting sales performance and technical offering for heavy belting

applications

  • The strategic acquisition of Rustenburg Engineering and Joerg Foundry solidifies our supply base for

cast iron products and gives an opportunity to manufacture more products in-house

  • A great improvement in efficiencies following BMG’s Simplify for Success initiatives. The initial moves

created far more challenges than anticipated but these have now been resolved.

  • The recent acquisition of the Forge Industrial Group (comprising Toolquip & Allied, F&H Machine

Tools and Belt Brokers) with effect from 3 September 2018 has added new customers, expertise and additional sales staff to the Group. Much work is still required to integrate these businesses.

  • Acquisitions in the pipeline

Review of 1H2019

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34 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Chief Executive Officer Gavin Pelser

BMG

(Bearing Man Group)

Man-Dirk Group Autobax Hyflo

Management structure

MD Gavin Pelser MD Gavin Hall MD John Black MD Wayne Holton

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35 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Interim results summary

30 September 2018

Revenue (R’m) Operating profit margin (%) Net operating assets (R’m) Operating profit before foreign exchange movements (R’m)

First Half Second Half

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36 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Revenue analysis

30 September 2018

  • Strategy of market differentiation by:
  • complementing product distribution with

technical expertise

  • African revenue growing as a % of ESG

revenues

(65%) (88%)

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37 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Sales by industry sector

30 September 2018

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38 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Group financial overview

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39 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Revenue (R’m)

*Re-presented

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40 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Operating profit

Operating profit before foreign exchange movements (R’m)

**Excluding once-off items

Operating margin (%)

*Re-presented

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41 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

EBITDA (%)

EBITDA (R’m)

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42 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Attributable earnings (R’m)

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43 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Earnings per share (cents)

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44 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Headline earnings

30 Sep 2018 30 Sep 2017 R’million Unaudited Unaudited % Change Attributable Earnings 8 712 260 651 (97) Adjustments Impairment of investment in associate 1 588 – Gain from bargain purchase price recognised (3 639) – Profit on disposal of investments – (24 439) Profit on disposal of other assets (649) (278) Net profit on disposal of property, plant and equipment (5 238) (2 163) Reversal of loans – (297) Total adjustments before taxation and NCI (7 938) (27 177) Taxation 1 290 9 251 Total adjustments (6 648) (17 926) Headline Earnings 2 064 242 725 (99)

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45 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Dividend per share (cents)

Salient dates for the 2019 Interim Dividend

  • Last day to trade to be eligible for the dividend
  • Tuesday

4 December 2018

  • Shares commence trading “ex” the dividend
  • Wednesday

5 December 2018

  • Record date in respect of dividend
  • Friday

7 December 2018

  • Dividend payments
  • Monday

10 December 2018

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46 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Cash flow movement

30 September 2018

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47 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Prospects and strategy

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48 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Prospects

  • Current trading conditions:
  • ESG improving – hopefully the end of downward cycle and bed down acquisitions
  • CEG expect similar trading conditions until elections
  • South East Asia continue to grow
  • Focus on business - avoid distractions
  • Room for improvement of working capital, which will improve cash flow
  • Focus on e-Commerce
  • Local and international investments: Exciting opportunities in SA
  • Positive developments being experienced in the market
  • Market cycles: recovery imminent
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49 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Strategy

Invicta’s strategy is to:

  • Generate healthy cash from existing businesses
  • Build on the strength of the current businesses
  • Focus on customer service, value-added distribution and supply chain

efficiencies

  • Diversify the Group’s revenue stream geographically
  • Acquire businesses that are a strategic fit for the Group
  • Target RONA >20% for each of the underlying businesses
  • Target real, sustainable growth
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50 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Q & A

Thank you for your attendance and participation www.invictaholdings.co.za For any further Investor Relations questions please contact: Arnold Goldstone (CEO) arnoldg@invictaholdings.co.za Nazlee Rajmohammed (CFO) nazlee@invictaholdings.co.za

Marlize Keyter (Keyter Rech Investor Solutions) mkeyter@kris.co.za 087 351 3810

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51 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Appendix

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52 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Statement of profit or loss and other comprehensive income (R’000)

30 Sep 2018 30 Sep 2017 R'million Unaudited Unaudited % Change Revenue 5 284 191 5 040 650 5 Operating profit before foreign exchange movements 403 268 452 680 (11) Net foreign exchange (cost)/profit (3 111) 5 072 Operating profit 400 157 457 752 (13) Interest received and dividends received from financial investments 74 476 409 287 (82) Interest paid (110 407) (468 997) (76) Share of profits of associates 4 190 2 189 Profit before taxation 368 416 400 231 (8) Taxation (310 322) (84 688) 266 Profit for the period 58 094 315 543 (82)

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53 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Statement of profit or loss and other comprehensive income (R’000)

30 Sep 2018 30 Sep 2017 R'million Unaudited Unaudited % Change Profit attributable to: Owners of the Company 8 712 260 651 (97) Non-controlling interest 7 956 12 487 Preference shareholders 41 426 42 405 58 094 315 543 Earnings per share (cents) 8 244 (97) Headline earnings per share (cents) 2 227 (99)

Weighted average shares in issue (‘000) 106 953 106 953

–

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54 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Statement of financial position (R’000)

30 Sep 2018 30 Sep 2017 R'million Unaudited Unaudited % Change ASSETS Non-current assets Property, plant and equipment 1 879 999 1 728 490 Financial investments and investment in associates 120 765 2 193 603 Goodwill and other intangible assets 834 528 765 999 Financial assets, finance lease and long-term receivables 54 272 3 718 675 Deferred taxation 217 164 175 492 Non-current assets 3 106 728 8 582 259 (64)

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55 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Statement of financial position (R’000)

30 Sep 2018 30 Sep 2017 R'million Unaudited Unaudited % Change Current assets Inventories 4 464 861 3 960 585 Trade and other receivables 2 262 473 2 089 355 Current portion of financial investments, finance leases and long-term receivables 678 371 875 421 Taxation prepaid 8 948 13 985 Bank and cash balances 1 220 225 836 312 Assets classified as held for sale – 173 519 TOTAL ASSETS 11 741 606 16 531 436 (29)

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56 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Statement of financial position (R’000)

30 Sep 2018 30 Sep 2017 R'million Unaudited Unaudited % Change EQUITY Capital and reserves Equity attributable to the equity holders 5 141 986 5 342 435 (4) Non-controlling interest 111 584 83 480 34 Shares in issue (‘000) 108 495 108 495 – Net asset value per share (cents) 4 842 4 924 (2) Tangible net asset value per share (cents) 4 073 4 218 (3)

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57 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Statement of financial position (R’000)

30 Sep 2018 30 Sep 2017 R'million Unaudited Unaudited % Change LIABILITIES Non-current liabilities Long-term borrowings and financial liabilities 1 895 252 7 159 719 Deferred taxation 54 202 38 615 Non-current liabilities 1 949 454 7 198 334 (73) Current liabilities Trade, other payables and provisions 2 451 117 2 244 064 Share appreciation rights liability 21 4 357 Taxation liabilities 800 246 195 722 Shareholders for dividends 41 489 41 485 Current portion of long-term borrowings 1 094 288 1 012 910 Bank overdrafts 151 421 298 775 Liabilities associated with assets held for sale – 109 874 TOTAL LIABILITIES 6 488 036 11 105 521 TOTAL EQUITY AND LIABILITIES 11 741 606 16 531 436 (29)

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58 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Group structure

BBEE & Staff Trusts Invicta Holdings

SA Non - SA

Invicta SA Invicta Properties Invicta Treasury Invicta Finance

Invicta Offshore Holdings

ESG CEG

Invicta African Holdings Invicta Asian Holdings

BMG Hansen OST Fenner Rustenburg Engineering Joerg Foundry Belt Brokers Man-Dirk SA Tool Sibuyile Toolquip & Allied F&H Machine Tools Autobax Hyflo

Northmec New Holland* CSE Doosan HPE ESP Landboupart Criterion Shamrock Kian Ann & subsidiaries in South East Asia Mozambique Zambia Tanzania DRC Ghana

25% 75% 100% 100% 100% 100% 100% 100% 100% 100%

*Equipment sales discontinued. Aftermarket support continues (spare parts)

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59 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Capital Equipment (SA))

  • Northmec (Agricultural Machinery)
  • New Holland* (Agricultural Machinery)
  • CSE (Earthmoving Machinery)
  • Doosan (Earthmoving Machinery)
  • HPE (Hyundai Earthmoving)
  • ESP (Spare Parts)
  • Landboupart (Spare Parts)
  • Criterion (Forklifts)
  • Shamrock (Forklifts)
  • 138 dedicated outlets

*Equipment sales discontinued. Aftermarket support continues (spare parts)

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60 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Capital Equipment (Kian Ann Group)

Kian Ann Engineering

  • One of the world's largest independent distributors
  • f heavy machinery and diesel engine parts
  • HQ in Singapore
  • Subsidiaries in Singapore, Indonesia, China, Canada,

United Kingdom, USA and Myanmar

  • Joint venture in India
  • Associate in China

Kian Chue Hwa Industries

  • One of Asia’s largest independent distributors of

commercial and industrial vehicle parts

  • HQ in Singapore
  • Subsidiaries in Indonesia, Thailand and Malaysia
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61 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Engineering Solutions

  • BMG (Bearing Man Group)
  • Engineering components & technical services
  • 102 branches
  • Bearings, S

eals, PT , Tools, Fasteners

  • Drives, Motors, Belting, Field S

ervices

  • Filtration, Hydraulics, Lubrication, Pneumatics
  • Hansen
  • Rustenburg Engineering & Joerg Foundry
  • Belt Brokers
  • Man-Dirk Group (incl SA Tool)
  • Tools & equipment, PPE, lifting and welding
  • 18 branches & subsidiaries
  • Newly acquired Toolquip & Allied and F&H
  • Autobax
  • Automotive
  • 3 branch network
  • OST
  • Hyflo

Engineering Solutions

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62 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

Group profit drivers

  • Mining and industrial activity (ESG and CEG)
  • Agricultural activity (Northmec and aftermarket parts)
  • Construction and earthmoving activity (CSE, Doosan SA & HPE)
  • Warehousing (Criterion Equipment and Shamrock)
  • Global replacement spares market (Kian Ann)
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63 Invicta Holdings Limited | Interim results presentation for the six months ended 30 September 2018

ARNOLD GOLDSTONE

Executive management team

BOARD OF DIRECTORS Dr Christo Wiese (Non-Executive Chairman) ENTITY Invicta Holdings Capital Equipment Group Engineering Solutions Group CHIEF FINANCIAL OFFICER CHIEF EXECUTIVE OFFICER NAZLEE RAJMOHAMED TONY SINCLAIR GEOFF BALSHAW GAVIN PELSER BENNIE GROENEWALD

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1 Invicta Holdings Limited | Results Presentation 2018

Shareholding as at 30 September 2018

52% 38% 4%2%

Public

Directors’ Total % 48% Public % 52%

Wiese Family Sherrell Family Goldstone Family 2% Samuels Family 1% Exec Directors 1% Treasury