AECI Limited Trading Statement

 
TIDM87FZ 
 
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 2022 
 
The AECI Group is currently finalising its financial results for the year ended 
31 December 2022 (the "period"), which results are expected to be released on 
the Stock Exchange News Service on or about 1 March 2023. In accordance with 
Section 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. 
 
The Group is expected to produce results reflective of the inherent resilience 
in the business, adversely impacted by once-off events. 
 
AECI expects earnings per share (EPS) and headline earnings per share (HEPS) 
for the period to be as follows: 
 
                               31 Dec 2021          31 Dec 2022 
 
                               As reported     Expected Results Range 
 
Group EPS (cents)                    1 125            855             922 
 
Range (%)                                           (24%)           (18%) 
 
Group HEPS (cents)                   1 116          1 250           1 317 
 
 Range (%)                                            12%             18% 
 
The Group EPS for the period were mainly impacted by: 
 
  * an aggregation of financial losses driven by property, plant and equipment 
    impairments, operational losses and a deferred tax write-off associated 
    with the Schirm business in Germany 
  * finance costs increase mainly due to short term funding of elevated working 
    capital levels. 
 
Following the appointment of the new Group Chief Executive as well as the Board 
approved comprehensive turnaround project for Schirm in Germany, the Group has 
renewed vigour to drive the transformation journey, which includes optimising 
returns from existing businesses. 
 
The AECI Group remains cash generative and sufficiently capitalised, and 
therefore has a strong platform to execute various strategic initiatives. 
 
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 
 
24 February 2023 
 
Equity and Debt Sponsor: 
 
Rand Merchant Bank (A division of FirstRand Bank Limited) 
 
 
 
END

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