AECI
LIMITED
Incorporated
in the Republic of South
Africa
(Registration
number: 1924/002590/06)
Share
code: AFE ISIN:
ZAE000000220
Hybrid
code: AFEP ISIN: ZAE000000238
Bond
company code: AECI
LEI:
3789008641F1D3D90E85
(AECI or
the Company or the Group)
TRADING
STATEMENT FOR THE FINANCIAL YEAR ENDED 31
DECEMBER 2023
The AECI
Group is currently finalising its financial results for the year
ended 31 December 2023 (the
“period”), with the results expected to be released on the Stock
Exchange News Service of the JSE Limited (JSE) on or about
28 February 2024. In accordance with
paragraph 3.4(b) (i) of the JSE Listings Requirements, shareholders
and noteholders are advised that AECI is satisfied that a
reasonable degree of certainty exists that the financial results
for the period to be reported upon will differ by at least 20% from
the reported financial results for the previous corresponding
period.
AECI
expects basic earnings per share (EPS) and headline earnings per
share (HEPS) for the Group for the period ended 31 December 2023 to be within the following
ranges:
|
|
31
Dec 2022
|
31
Dec 2023
|
|
|
As
reported
|
Expected
Results Range
|
|
Group EPS
(cents)
|
878
|
1
131
|
1
042
|
|
Range
(%)
|
|
29%
|
19%
|
|
|
|
|
|
|
Group HEPS
(cents)
|
1
287
|
1
199
|
1
077
|
|
Range
(%)
|
|
(7%)
|
(16%)
|
The 2022
Group earnings included R471 million impairments on property, plant
and equipment and the right of use of assets, operational losses as
well as a deferred tax write-off associated with AECI Schirm
Germany.
The 2023
Group headline earnings show the impact of increased finance costs,
driven by interest rate increases and short-term funding, to
accommodate increased working capital levels during the year to
support revenue growth.
The Group
remains cash generative and sufficiently capitalised, and therefore
has a strong platform to execute on the new strategy. More details
will be published with the audited
consolidated financial statements on
or about 28 February
2024.
The
financial information on which this trading statement is based has
not been reviewed and reported on or audited by the Company’s
external auditor.
Woodmead,
Sandton
26 February 2024
Equity and
Debt Sponsor: Rand Merchant Bank (a
division of FirstRand Bank Limited)
About
AECI
AECI is a
diversified chemicals solutions company employing over 7 000 people
at more than 100 sites. We have a presence in 22 countries on six
continents. Founded in 1896 to service South Africa's burgeoning gold and diamond
mining industries, the company was formally established in 1924.
AECI was listed on the Johannesburg Stock Exchange in 1966. A
mainstay of the economy in South
Africa, over the years we have expanded our presence and
evolved our product and service offering to a broad base of
customers.
Our
products and services include mine-to-mineral solutions; water
treatment solutions; chemical raw materials and related services;
asphalt and bitumen for road construction; food and beverage
ingredients and commodities; vitamin and mineral animal feed
premixes; crop protection products and plant nutrients; as well as
property leasing and the provision of utilities. Our operating
businesses are structured into four key operating business segments
– AECI Mining, AECI Chemicals, AECI Agri Health and AECI
Water.
Investor
Relations Contact
Zanele Salman
zanele.salman@aeciworld.com
AECIInvestorRelations@aeciworld.com