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TRANSPACO LIMITED – Condensed Consolidated Interim Results for the six months to 31 December 2020

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Condensed Consolidated Interim Results for the six months to 31 December 2020

Transpaco Limited
Registration number: 1951/000799/06
ISIN: ZAE000007480
Share code: TPC
(Transpaco or the group)

SHORT-FORM ANNOUNCEMENT: CONDENSED CONSOLIDATED INTERIM RESULTS FOR THE SIX MONTHS TO 31 DECEMBER 2020

– NET ASSET VALUE PER SHARE 2 148 CENTS
– HEADLINE EARNINGS PER SHARE 157,7 CENTS
– DIVIDEND PER SHARE 43,0 CENTS

FINANCIAL RESULTS
Unaudited
Unaudited six months Unaudited Audited
six months December six months 12 months
December 2020 December June
2020 % change 2019 2020
Continuing operations
Revenue from continuing operations (R’000) 1 093,3 1,4 1 078,7 1 905,8
Earnings per share (cents) 158,2 (1,8) 161,1 278,19
Diluted earnings per share (cents) 158,2 (1,8) 161,1 278,19
Headline earnings per share (cents) 156,2 (3,1) 161,1 277,48
Diluted headline earnings per share (cents) 156,2 (3,1) 161,1 277,48
Total operations
Revenue from total operations (R’000) 1 093,3 (3,0) 1 126,7 1 953,80
Earnings per share (cents) 159,6 30,6 122,2 209,68
Diluted earnings per share (cents) 159,6 30,6 122,2 209,68
Headline earnings per share (cents) 157,7 29,0 122,3 243,88
Diluted headline earnings per share (cents) 157,7 29,0 122,3 243,88
Net asset value per share (cents) 2 148,0 6,3 2 012,0 2 066,00
Discontinued operations
Earnings/(loss) per share (cents) 1,4 103,7 (38,9) (68,5)
Diluted earnings/(loss) per share (cents) 1,4 103,7 (38,9) (68,5)
Headline earnings/(loss) per share (cents) 1,4 103,7 (38,8) (33,6)
Diluted headline earnings/(loss) per share (cents) 1,4 103,7 (38,8) (33,6)

TOTAL OPERATIONS
Transpaco’s results reflect an overall 29,0% increase in headline earnings per share (HEPS) for the period to
157,7 cents per share (December 2019: 122,2 cents). The Covid pandemic had a negative impact on all operations at
varying degrees due to the markets we supply, and in particular, the closure of the liquor trade from time to time.
Revenue decreased by 3,0% to R1,09 billion (December 2019: R1,13 billion) with operating profit up by 12,6% to
R78,9 million (December 2019: R70,1 million). The group’s expenses were contained at acceptable levels with gross profit
margins well-managed and controlled. The Paper and Board Division accounted for significant growth, while the Plastics
Division performed within expectations albeit at reduced levels compared to last year. The revenue in the first six
months of the financial year is traditionally greater than that of the second six months due to the seasonal
nature of the business.

CONTINUING OPERATIONS
Transpaco’s continuing operations also achieved revenue growth of 1,4% to R1,09 billion. Notwithstanding a challenging
economic environment compounded by the impact of the Covid 19 pandemic, HEPS declined slightly by 3,1% to 156,2 cents
(December 2019: 161,1 cents).

DIVIDEND
The board has declared an interim gross cash dividend out of income reserves of 43,0 cents per share (December 2019:
33,0 cents per share) for the six-month period ended 31 December 2020. After applying the dividend withholding tax of
20%, a net interim dividend of 34,4 cents per share will be paid to those shareholders who are not exempt from the
dividends tax. The issued shares at the date of declaration is 32 886 359 ordinary shares. The income tax reference
number is 9975/112/71/6.

The salient dates for the dividend are as follows:
Last date to trade shares cum dividend Tuesday, 16 March 2021
Shares trade ex dividend Wednesday, 17 March 2021
Record date Friday, 19 March 2021
Payment date Tuesday, 23 March 2021

Share certificates may not be dematerialised or rematerialised between Wednesday, 17 March 2021 and
Friday, 19 March 2021, both days inclusive.

ADMINISTRATIVE INFORMATION
This short-form announcement is the responsibility of the directors and is only a summary of the information in the
full announcement. The full announcement was released on SENS on 23 February 2021, and can be found on the company’s
website at www.transpaco.co.za and on the following JSE link:
https://senspdf.jse.co.za/documents/2021/jse/isse/TPC/Interims.pdf

Any investment decision should be based on the full announcement published on SENS and on the company’s website.

Copies of the full announcement may be requested from the company secretary at
Hendrik@transpaco.co.za.

On behalf of the board
DJJ Thomas PN Abelheim L Weinberg
Non-executive Chairman Chief Executive Chief Financial Officer

23 February 2021

DIRECTORS
DJJ Thomas (Chairman)*; PN Abelheim (Chief Executive); L Weinberg (Chief Financial Officer);
HA Botha^; SR Bouzaglou; B Mkhondo^; SP van der Linde (Lead Independent Director)^
* Non-executive ? Independent non-executive

Auditors BDO South Africa Incorporated
Company Secretary HJ van Niekerk
Sponsor Investec Bank Limited
Registered office 331 6th Street, Wynberg, Sandton
Transfer secretaries Computershare Investor Services (Pty) Limited, Rosebank Towers,
15 Biermann Avenue, Rosebank, Johannesburg

Website www.transpaco.co.za
Date: 23-02-2021 03:05:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (‘JSE’).
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.


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