Announcements 2020

Media release: Trading statement

Northam has advised shareholders today that it expects to achieve a record operating profit for the six months ended 31 December 2019.  The results are underpinned by a solid operating performance at all the group’s operations, combined with a higher basket price received. The group achieved record production from own operations amounting to 306 738 4E oz, representing a 19.6% increase from H1 F2019. Sales volumes increased by 11.9% to 329 760 4E oz.


Johannesburg, Monday 10 February 2020.  Northam has advised shareholders today that it expects to achieve a record operating profit for the six months ended 31 December 2019.  The results are underpinned by a solid operating performance at all the group’s operations, combined with a higher basket price received. The group achieved record production from own operations amounting to 306 738 4E oz, representing a 19.6% increase from H1 F2019. Sales volumes increased by 11.9% to 329 760 4E oz.

Financial highlights

  H1 F2020 H1 F2019
Revenue R7.7 – R7.9 billion R5.0 billion
Operating profit R2.9 – R3.1 billion R1.0 billion
Basic earnings/(loss) per share 326.18 – 329.82 cents (18.2) cents
Headline earnings/(loss) per share 326.40 – 330.20 cents (19.0) cents
Number of shares in issue 509 781 212 509 781 212
Weighted average number of shares* 349 875 759 349 875 759

* Used to determine the basic and headline earnings per share, calculated as 509 781 212 shares in issue less 159 905 453 shares held by Zambezi Platinum (RF) Limited (Zambezi). Zambezi is Northam’s major empowerment shareholder and Zambezi’s financial results are consolidated into the group’s financial results.

The group expects normalised headline earnings (defined as the group’s headline earnings adjusted for the impact of Northam’s black economic empowerment transaction), which constitutes the group’s main measure of performance, to be in excess of R1.8 billion (H1 F2019: R553.3 million), representing an increase in excess of 240% from H1 F2019.

During the period under review, Northam returned value to shareholders by acquiring 32.5 million Zambezi preference shares (representing 20.3% of all Zambezi preference shares in issue) for R2.4 billion. Northam now holds 22.9% of all Zambezi preference shares in issue, whilst maintaining a net debt to EBITDA ratio of 1 to 1.

The financial information contained in this announcement has not been reviewed or reported on by Northam’s auditors. The condensed reviewed interim results for the six months ended 31 December 2019 are expected to be published on or about 28 February 2020.

Johannesburg
10 February 2020

Issued by R&A Strategic Communications, Johannesburg, Tel +27 (0)11 880 3924;
Marion Brower +27 71 493 0387

SENS: Trading statement

In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements, companies are required to publish a trading statement as soon as they are satisfied, with a reasonable degree of certainty, that the financial results for the current reporting period (H1 F2020) will differ by at least 20% from the financial results of the previous corresponding period (H1 F2019).


In terms of paragraph 3.4(b) of the JSE Limited Listings Requirements, companies are required to publish a trading statement as soon as they are satisfied, with a reasonable degree of certainty, that the financial results for the current reporting period (H1 F2020) will differ by at least 20% from the financial results of the previous corresponding period (H1 F2019).

Northam expects to achieve a record operating profit for the six months ended 31 December 2019, underpinned by a solid operating performance at all operations and a higher basket price received. The group achieved a record production from own operations amounting to 306 738 4E oz, representing a 19.6% increase from H1 F2019. Sales volumes increased by 11.9% to 329 760 4E oz.

Financial highlights

  H1 F2020 H1 F2019
Revenue R7.7 – R7.9 billion R5.0 billion
Operating profit R2.9 – R3.1 billion R1.0 billion
Basic earnings/(loss) per share 326.18 – 329.82 cents (18.2) cents
Headline earnings/(loss) per share 326.40 – 330.20 cents (19.0) cents
Number of shares in issue 509 781 212 509 781 212
Weighted average number of shares* 349 875 759 349 875 759

* Used to determine the basic and headline earnings per share, calculated as 509 781 212 shares in issue less 159 905 453 shares held by Zambezi Platinum (RF) Limited (Zambezi). Zambezi is Northam’s major empowerment shareholder and Zambezi’s financial results are consolidated into the group’s financial results.

The group expects normalised headline earnings (defined as the group’s headline earnings adjusted for the impact of Northam’s black economic empowerment transaction), which constitutes the group’s main measure of performance, to be in excess of R1.8 billion (H1 F2019: R553.3 million), representing an increase in excess of 240% from H1 F2019.

During the period under review, Northam returned value to shareholders by acquiring 32.5 million Zambezi preference shares (representing 20.3% of all Zambezi preference shares in issue) for R2.4 billion. Northam now holds 22.9% of all Zambezi preference shares in issue, whilst maintaining a net debt to EBITDA ratio of 1 to 1.

The financial information contained in this announcement has not been reviewed or reported on by Northam’s auditors. The condensed reviewed interim results for the six months ended 31 December 2019 are expected to be published on or about 28 February 2020.

Johannesburg
10 February 2020

Sponsor and Debt Sponsor
One Capital

Interest payments notification - NHM008 AND NHM009

Northam bondholders are advised of the following interest payments due on Monday, 27 January 2020:


Northam bondholders are advised of the following interest payments due on Monday, 27 January 2020:

Bond Code: NHM008
ISIN No: ZAG000158858
Coupon: 9.183%
Interest Period: 28 October 2019 to 26 January 2020
Interest Amount Due: R4 578 920.55
Payment Date: 27 January 2020
Date Convention:     Following Business Day

Bond Code: NHM009
ISIN No: ZAG000158866
Coupon: 10.533%
Interest Period: 28 October 2019 to 26 January 2020
Interest Amount Due: R6 565 089.04
Payment Date: 27 January 2020
Date Convention:     Following Business Day

Johannesburg
22 January 2020

Debt Sponsor
One Capital

Interest payments notification – NHM006 and NHM007

Northam bondholders are advised of the following interest payments due on Thursday, 16 January 2020:


Northam bondholders are advised of the following interest payments due on Thursday, 16 January 2020:

Bond Code: NHM006
ISIN No: ZAG000158577
Coupon: 10.025%
Interest Period: 16 October 2019 to 15 January 2020
Interest Amount Due: R6 317 123.29
Payment Date: 16 January 2020
Date Convention:     Following Business Day

 

Bond Code: NHM007
ISIN No: ZAG000158593
Coupon: 10.525%
Interest Period: 16 October 2019 to 15 January 2020
Interest Amount Due: R7 958 630.14
Payment Date: 16 January 2020
Date Convention: Following Business Day

Johannesburg
13 January 2020

Debt Sponsor
One Capital