JSE Sens
DATATEC LIMITED - Trading Statement
2024/05/02 08:00:00Download PDF Stock report
Trading Statement
Datatec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005004/06)
ISIN: ZAE000017745
Share Code: DTC
('Datatec' or 'the Company' or 'the Group')
TRADING STATEMENT
Datatec, the international Information and Communications Technology (ICT) company, is
publishing a trading statement for the financial year ended 29 February 2024 ('FY24'). The
comparative year ended 28 February 2023 is referred to as FY23 throughout this
announcement.
Westcon International continued to deliver an excellent financial performance during the
second half of FY24. Logicalis International also had a strong second half which included
greater net revenue reported software sales. Logicalis Latin America faced difficult market
conditions, especially in Argentina and Brazil, which adversely affected its performance in the
second half of FY24.
Further to the trading update on 27 March 2024, Group revenue for FY24 is expected to be
approximately US$5.46 billion, representing a 6% increase on the US$5.14 billion generated
in FY23.
In terms of paragraph 3.4(b)(i) of the JSE Limited Listings Requirements, companies are
required to publish a trading statement as soon as they are satisfied that a reasonable degree
of certainty exists that the financial results for the period to be reported on next will differ by at
least 20% from FY23.
The preparation of the FY24 results has reached the stage where the Group has such a
reasonable degree of certainty and advises shareholders as follows:
• Underlying* earnings per share is expected to be between 19.0 and 21.0 US cents (FY23:
7.9 US cents), being 11.1 to 13.1 US cents (more than 100%) higher than FY23;
• Headline earnings per share is expected to be between 13.0 and 15.0 US cents. In FY23
a headline loss per share of 9.3 US cents was reported, impacted mainly by the FY23 share
based payments charge on settlement of the Westcon International Equity Appreciation
Plan;
• Earnings per share is expected to be between 19.0 and 21.0 US cents (FY23: 36.9 US
cents) being 17.9 to 15.9 US cents (48.5% to 43.1%) lower than FY23 (which included a
profit on sale of Analysys Mason of $109.9 million).
The financial information on which this trading statement is based has not been reviewed nor
reported on by the Group's external auditors.
The Company intends to release its FY24 results on SENS on or about 27 May 2024.
* underlying earnings per share excludes the following: impairments of goodwill and intangible
assets, profit or loss on sale of investments and assets, amortisation of acquired intangible
assets, unrealised foreign exchange movements, acquisition-related adjustments, fair value
movements on acquisition-related financial instruments, restructuring costs relating to
fundamental reorganisations, one-off tax items impacting EBITDA, costs relating to acquisitions,
integration and corporate actions and the taxation effect of all of the aforementioned.
Johannesburg
2 May 2024
Sponsor
Pallidus Exchange Services Proprietary Limited
Date: 02-05-2024 08:00:00
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.