EBOS GROUP LIMITED — Annual Report 2021

Aug 17, 2021

EBOS GROUP LIMITED APPENDIX 4E

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Final Report for the Year Ended 30 June 2021

RESULTS FOR ANNOUNCEMENT TO THE MARKET

The following information is presented in accordance with ASX listing rule 4.3A and should be read in conjunction with the attached EBOS Group Limited Financial Report for the year ended 30 June 2021.

1. DETAILS OF THE REPORTING PERIOD AND THE PREVIOUS CORRESPONDING PERIOD

Current period: Previous corresponding period

The year ended 30 June 2021 The year ended 30 June 2020

This report and the attached Consolidated Financial Report are presented in Australian dollars, being the Group’s presentation currency.

2. RESULTS FOR ANNOUNCEMENT TO THE MARKET

Group Results	30 June 2021	30 June 2020	Change
(Audited)	AUD$000	AUD$000	%
Revenue	9,202,886	8,765,540	5.0%
Earnings before depreciation, amortisation, net finance costs and tax expense (EBITDA)	363,297	333,599	8.9%
Depreciation and amortisation	(72,645)	(73,146)	(0.7%)
Earnings before interest and tax (EBIT)	290,652	260,453	11.6%
Profit before tax (PBT)	263,019	230,057	14.3%
Net profit after tax (NPAT)	184,049	161,516	14.0%
Net profit after tax (NPAT) attributable to owners of the Company	185,297	162,518	14.0%
Weighted average number of shares	163,711	161,557	1.3%
Basic EPS – (CPS)	113.2	100.6	12.5%
Net tangible asset backing per ordinaryshare –($)	($0.73)	($1.10)
Underlying EBITDA
(refer reconciliation below)	367,110	336,199	9.2%
Underlying EBIT
(refer reconciliation below)	294,465	263,053	11.9%
Underlying Net profit after tax (NPAT) attributable to the
owners of the Company
(refer reconciliation below)	188,164	162,854	15.5%
Underlying EPS –(CPS)	114.9	100.8	14.0%

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EBOS GROUP LIMITED APPENDIX 4E

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Dividends Amount Per Share (NZ$ Cents) Franked amount per security to 30% tax rate	Dividends Amount Per Share (NZ$ Cents) Franked amount per security to 30% tax rate	Dividends Amount Per Share (NZ$ Cents) Franked amount per security to 30% tax rate
Final dividend payable 24 September 2021	46.0c	100%
Final dividend – previous corresponding period	40.0c	100%
Key dates for the 2021 Final Dividend
Ex-dividend date 9 September 2021 Record date 10 September 2021 (5.00pm NZST) Dividend payment date 24 September 2021
Other Comments
The final dividend will be imputed to 25% for New Zealand tax resident shareholders and a supplementary dividend paid to eligible non-resident shareholders.

3. RECONCILIATION OF REPORTED TO UNDERLYING EARNINGS

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Reconciliation of Reported vs Underlying Earnings 30 June 2021 30 June 2020 Change
(Audited) AUD $000 AUD $000 %
Reported EBITDA 363,297 333,599 8.9%
Add back one-off items incurred during the period1 3,813 2,600 46.6%
Underlying EBITDA 367,110 336,199 9.2%
Reported EBIT 290,652 260,453 11.6%
Add back one-off items incurred during the period1 3,813 2,600 46.6%
Underlying EBIT 294,465 263,053 11.9%
Reported Net Profit after Tax (NPAT) attributable to owners
185,297 162,518 14.0%
of the Company
Add back one-off items incurred during the period1 (net of tax
2,867 336 752.3%
and after non-controlling interests)
Underlying Net Profit after Tax (NPAT) attributable to owners
188,164 162,854 15.5%
of the Company
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1 One-off items comprise merger and acquisition transaction costs of $3.8m (FY20: $2.6m) on a pre-tax basis and $2.9m (FY20: $0.3m) on a post-tax basis. FY20 post-tax one-off items include a legislative tax change in New Zealand in regard to the reintroduction of the tax deductibility of depreciation on buildings.

Underlying EBITDA, Underling EBIT and Underlying Net Profit after Tax attributable to the owners of the Company are non-GAAP measures, which adjust for the effects of one-off costs.

For supplementary comments on the Group’s financial results refer to the Results Presentation and Results Media Release issued 18 August 2021.

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EBOS GROUP LIMITED APPENDIX 4E

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4. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

Please refer to the Consolidated Statement of Comprehensive Income in the attached Consolidated Financial Report for the year ended 30 June 2021.

5. CONSOLIDATED BALANCE SHEET

Please refer to the Consolidated Balance Sheet in the attached Consolidated Financial Report for the year ended 30 June 2021.

6. CONSOLIDATED CASH FLOW STATEMENT

Please refer to the Consolidated Cash Flow Statement in the attached Consolidated Financial Report for the year ended 30 June 2021.

7. CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

Please refer to the Consolidated Statement of Changes in Equity in the attached Consolidated Financial Report for the year ended 30 June 2021.

8. DIVIDENDS PAID AND DECLARED

Group Results	Amount	Amount	Total
(Audited)	Per Share	Per Share	Amount	Date Paid / Payable
	(NZ$ Cents)	(A$ Cents)	(A$)
Dividends declared in respect of
the year ending 30 June 2021
2021 final dividend	46.0 cents	42.8 cents	$70,305,000	24 September 2021
Dividends paid during the year
ended 30 June 2021
2020 final dividend	40.0 cents	36.5 cents	$59,225,000	9 October 2020
2021 interim dividend	42.5 cents	39.5 cents	$64,631,000	18 March 2021
	82.5 cents	76.0 cents	$123,856,000
Dividends paid during the year
ended 30 June 2020
2019 final dividend	37.0 cents	35.0 cents	$56,378,000	11 October 2019
2020 interim dividend	37.5 cents	35.9 cents	$57,763,000	3 April 2020
	74.5 cents	70.9 cents	$114,141,000

Dividends are approved by the Board in New Zealand dollars. Dividends recognised in the Statement of Changes in Equity are converted from New Zealand dollars to Australian dollars at the exchange rate applicable on the date the dividend was approved. Unrecognised dividends are converted at the exchange rate applicable on the reporting date.

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EBOS GROUP LIMITED APPENDIX 4E

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9. DIVIDEND REINVESTMENT PLAN

The Company's dividend reinvestment plan ('DRP') will not be available for the FY21 final dividend.

10. ENTITIES ACQUIRED

There were no material acquisitions or disposals during the year ended 30 June 2021. Details of immaterial acquisitions undertaken during the period have been disclosed, in aggregate, in Note B2 of the attached Consolidated Financial Report for the year ended 30 June 2021.

11. ASSOCIATES AND JOINT VENTURES

The Group equity accounted the following associate entities at 30 June 2021.

Name of business	Proportion of shares and voting rights
Animates NZ Holdings Limited	50.00%
Good Price Pharmacy Franchising Pty Limited	44.18%
Good Price Pharmacy Management Pty Limited	44.18%

Income from the individual Associates has not been separately disclosed as it is considered immaterial. Total income from Investments in Associates for the year ended 30 June 2021 was $7,071,000 (2020: $3,355,000).

12. OTHER SIGNFICANT INFORMATION

Refer to the attached Consolidated Financial Report for the year ended 30 June 2021.

13. FOREIGN ENTITIES

The Consolidated Financial Statements are presented in Australian dollars and comply with International Financial Reporting Standards (“IFRS”).

14. COMMENTARY ON THE RESULTS FOR THE PERIOD

14.1 The earnings per security and the nature of any dilution.

• Please refer to Note A4 of the attached Consolidated Financial Report for the year ended 30 June 2021.

14.2 Returns to shareholders including distributions and buy backs.

Please refer to Notes E1 and E2 of the attached Consolidated Financial Report for the year ended 30 June 2021.

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EBOS GROUP LIMITED APPENDIX 4E

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• 14.3 Significant features of operating performance.

• Please refer to the attached Consolidated Financial Report for the year ended 30 June 2021 and to the Results Media Release and Results Presentation issued on 18 August 2021.

• 14.4 The results of segments that are significant to an understanding of the business as a whole.

• Please refer to Note A2 of the attached Consolidated Financial Report for the year ended 30 June 2021.

14.5 A discussion of trends in performance.

• Please refer to the attached Consolidated Financial Report for the year ended 30 June 2021 and to the Results Media Release and Results Presentation issued on 18 August 2021.

• 14.6 Any other factors which have affected the results in the period or which are likely to affect results in the future, including those where the effect could not be quantified.

• Please refer to the Results Media Release and Results Presentation issued on 18 August 2021.

15. INDEPENDENT AUDIT OPINION

The Consolidated Financial Statements included in the Consolidated Financial Report have been audited by an independent auditor, and the auditor has given an unmodified opinion.

16. AUDIT COMMITTEE

The entity has a formally constituted Audit and Risk Committee.

ANNUAL MEETING

The annual meeting will be held as follows:

Place:

Addington Raceway & Events Centre, 75 Jack Hinton Drive, Addington, Christchurch, New Zealand

Date:

Tuesday, 19 October, 2021

2:00pm

Time:

Wednesday, 18 August 2021 Approximate date the annual report will be available: (via website: www.ebosgroup.com)

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