Wrap Text
Summarised Group results for the year ended 30 September 2023, dividend declaration and changes to
the Board
Netcare Limited ("Netcare", "the Company" or "the Group")
Registration number: 1996/008242/06
(Incorporated in the Republic of South Africa)
JSE ordinary share code: NTC
ISIN: ZAE000011953
A2X share code: NTC
JSE preference share code: NTCP
ISIN: ZAE000081121
Summarised Group results for the year ended 30 September 2023, dividend declaration and changes to
Executive leadership and Board sub-committees
- Group EBITDA up 14.5% to R4.0 billion
- Adjusted HEPS up 27.0% to 105.7 cents
- Total dividends 65.0 cents
Group financial information
Year ended
30 September 30 September %
Rm 2023 2022 change
Statement of profit or loss
Revenue 23 699 21 636 9.5
EBITDA1 3 990 3 485 14.5
Operating profit1 2 716 2 282 19.0
Profit for the year 1 336 1 050 27.2
Statement of financial position
Total assets 27 803 26 270 5.8
Total liabilities 16 762 15 326 9.4
Total shareholders' equity 11 041 10 944 0.9
Net debt (excluding lease
liabilities) 5 028 4 875 3.2
Earnings and dividends per
share (cents)
Basic earnings per share 94.5 72.3 30.7
Diluted earnings per share 93.5 71.7 30.4
Headline earnings per share 101.0 74.0 36.5
Adjusted headline earnings per share1 105.7 83.2 27.0
Total dividends per share2 65.0 50.0 30.0
1. Defined in the summarised audited Group results
2. Comprises interim and final dividends of 30.0 and 35.0 cents per share, respectively
Declaration of dividend number 26
Notice is hereby given of the declaration of a gross final dividend of 35.0 cents per ordinary share in respect of the year
ended 30 September 2023. The dividend has been declared from income reserves and is payable to shareholders recorded in the
register at the close of business on Friday, 26 January 2024. The number of ordinary shares (inclusive of treasury shares)
in issue at the date of this declaration is 1 439 090 009. The dividends will be subject to a local dividend withholding tax
at a rate of 20%, which will result in a net final dividend to those shareholders not exempt from paying dividend withholding
tax of 28.0 cents per ordinary share and 35.0 cents per ordinary share for those shareholders who are exempt from dividend
withholding tax.
The Board has confirmed by resolution that the solvency and liquidity test as contemplated by the Companies Act 71 of 2008 has
been duly considered, applied and satisfied.
The salient dates applicable to the dividends are as follows:
Last day to trade cum dividend Tuesday, 23 January 2024
Trading ex-dividend commences Wednesday, 24 January 2024
Record date Friday, 26 January 2024
Payment date Monday, 29 January 2024
Share certificates may not be dematerialised nor rematerialised between Wednesday, 24 January 2024 and Friday, 26 January 2024,
both dates inclusive.
On Monday, 29 January 2024, the dividends will be electronically transferred to the bank accounts of all certificated shareholders.
Holders of dematerialised shares will have their accounts credited at their participant or broker on Monday, 29 January 2024.
Netcare Limited's tax reference number is 9999/581/71/4.
Executive leadership and Board sub-committee changes
After an extensive search, Netcare has identified a preferred CEO candidate. Given that the candidate is unavailable for an extended
period, details will remain confidential at this stage. At the Board's request, Dr Richard Friedland has agreed to continue as CEO
beyond September 2024 for a further six months.
With effect from 1 January 2024, Mr I Kirk joins the Risk Committee as Chairperson and the Remuneration Committee as a member,
and Mr A Maditse joins the Nominations Committee as a member.
With effect from 5 February 2024, Ms L Stephens will assume the role of Chairperson of the Remuneration Committee.
FY2023 Group financial results webcast
Shareholders are advised that Netcare will be holding an annual results webcast on:
https://www.netcare.co.za/Netcare-Investor-Relations on Monday, 20 November 2023 at 9:00am. The investor presentation
will be made available on the Netcare website thereafter.
Netcare's independent auditor, Deloitte & Touche, has issued its unmodified opinion on the consolidated financial
statements for the year ended 30 September 2023, which includes a key audit matter and can be accessed via the
Netcare Investor Relations website at
http://www.netcare.co.za/Netcare-Investor-Relations/Reports/Financial-Results.
This short-form announcement is the responsibility of the directors of the Company and is only a summary of the full
announcement, which is published on the Company's website on
http://www.netcare.co.za/Netcare-Investor-Relations/Reports/Financial-Results, and does not contain complete or full details.
Any investment decisions by investors and/or shareholders should be based on consideration of the full announcement.
This short-form announcement is extracted from audited results but is itself not audited.
The full announcement can be accessed directly using the following JSE link:
https://senspdf.jse.co.za/documents/2023/jse/isse/NTC/ye2023.pdf.
The consolidated financial statements can be accessed via the Netcare website on
http://www.netcare.co.za/Netcare-Investor-Relations/Reports/Financial-Results and on the JSE link:
https://senspdf.jse.co.za/documents/2023/jse/isse/NTC/ye2023.pdf.
20 November 2023
Registered office: 76 Maude Street (corner West Street), Sandton 2196, Private Bag X34, Benmore 2010
Executive directors: RH Friedland (Chief Executive Officer), KN Gibson (Chief Financial Officer)
Non-executive directors: M Bower (Chairperson), B Bulo, L Human, I Kirk, A Maditse, R Phillips, L Stephens
Company Secretary: C Vikisi
Sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited, 135 Rivonia Road, Sandown, 2196
Transfer secretaries: 4 Africa Exchange Registry (Pty) Ltd, Cedar Woods House, Ballywoods Office Park, 33 Ballyclare Drive, Bryanston
Tel: 011 100 8352
Investor relations: ir@netcare.co.za
Date: 20-11-2023 08:00:00
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