AECI Limited - Trading Statement for the financial year ended 31 December 2023
Incorporated in the
(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
AECI expects basic earnings per share (EPS) and headline earnings per share (HEPS) for the Group for the period ended
__________________________________________ | |31 Dec 2022|31 Dec 2023| |__________________|___________|___________| | | |Expected | | |As reported|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
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
Equity and Debt Sponsor:
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
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,
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