For personal use only
22 February 2022
Company Announcements Office
Australian Securities Exchange Limited
20 Bridge Street
SYDNEY NSW 2000
APPENDIX 4D AND HALF YEAR FINANCIAL REPORT
Seven Group Holdings Limited (ASX: SVW) attaches the Appendix 4D and Half Year Financial Report for the half year ended 31 December 2021.
This release has been authorised to be given to ASX by the Board of Seven Group Holdings Limited.
For further information, please contact:
Mark Ley
Head of Investor Relations and Communications
M: 0411 139 134
- mley@sevengroup.com.au
Seven Group Holdings Limited (SGH) is a leading Australian diversified operating and investment group w ith market leading businesses and investments in industrial services, media and energy. In industrial services, WesTrac Group is the sole authorised Caterpillar dealer in Western Australia, New South Wales and the Australian Capital Territory. WesTrac is one of Caterpillar's top dealers globally (by sales value). SGH ow ns Coates, Australia's largest nationw ide industrial and general equipment hire business. SGH also has a 69.6% shareholding in Boral, a leading building products and construction materials group. In energy, SGH has a 30.0% shareholding in Beach Energy and has interests in oil and gas projects in Australia and the United States. In media, SGH has a 39.19% shareholding in Seven West Media, one of Australia's largest multiple platform media companies, including the Seven Netw ork, 7plus and The West Australian.
Seven Group Holdings Limited | A BN 46 142 003 469
Level 30, 175 Liverpool Street, Sydney NSW 2000 | Postal Address: PO Box 745, Darlinghurst NSW 1300
T elephone +61 2 8777 7574
Appendix 4D
For personal use only
Results for the half-year ended 31 December 2021
For personal use only
CONTENTS
Appendix 4D Half-Year Report | 3 |
Underlying Trading Performance | 4 |
Consolidated Statement of Profit or Loss and Other Comprehensive Income | 5 |
Consolidated Statement of Financial Position | 6 |
Consolidated Statement of Changes in Equity | 7 |
Consolidated Cash Flow Statement | 8 |
Notes to the Consolidated Financial Statements | 9 |
Directors' Report | 37 |
Auditor's Independence Declaration | 38 |
Directors' Declaration | 39 |
Independent Auditor's Review Report | 40 |
Appendix 4D - Half-Year Report
SEVEN GROUP HOLDINGS LIMITED AND ITS CONTROLLED ENTITIES
ABN 46 142 003 469
FOR THE HALF-YEAR ENDED 31 DECEMBER 2021
RESULTS FOR ANNOUNCEMENT TO THE MARKET
REPORTED | $m | |||||||
Revenue | ||||||||
Reve | ue from ordinary activities (continuing operations) | up | 67.8% | to | 3,956.0 | |||
Reve | ue from discontinued operations | up | >100% | to | 883.3 | |||
Net profit from ordinary activities after income tax attributable to members | up | 199.2% | to | 1,083.8 | ||||
onlyNet profit for the period attributable to members | up | 224.4% | to | 1,175.0 | ||||
UNDERLYING | $m | |||||||
R v nue | ||||||||
R v | nue from ordinary activities (continuing operations) | up | 67.8% | to | 3,956.0 | |||
Revenue from discontinued operations | up | >100% | to | 883.3 | ||||
Net profit before net finance expense and income tax | ||||||||
From ordinary activities (continuing operations) | up | 28.9% | to | 510.9 | ||||
From discontinued operations | up | >100% | to | 154.7 | ||||
use | ||||||||
Net profit for the period attributable to members | up | 48.2% | to | 366.1 | ||||
DIVIDENDS | ||||||||
Ordinary shares | Amount per security | Franked amount per security | ||||||
Interim | 23 cents | 23 cents | ||||||
Record date for determining entitlements to the dividend | 5.00pm on 13 April 2022 | |||||||
Date the interim dividend is payable | 6 May 2022 |
personalNET TANGIBLE ASSET BACKING
Net tangible asset backing per ordinary share: $3.86 (June 2021 restated: $6.67).
This has been calculated by dividing the net assets (including ROU assets) attributable to equity holders of the Company less intangible assets by the number of ordinary shares at 31 December 2021.
COMMENTARY ON RESULTS
D tailed commentary on the results for the period is contained in the press release dated 22 February 2022 accompanying this Report. This Report should be read in conjunction with the 2021 Annual Report and any public announcements made by the Company in accordance with the continuous disclosure requirements arising under the Corporations Act 2001 and ASX Listing Rules.
ENTITIES OVER WHICH CONTROL, JOINT CONTROL OR SIGNIFICANT INFLUENCE WAS GAINED OR LOST DURING THE PERIOD
Entities over which control was gained - Boral Limited
On 7 July 2021, a wholly-owned subsidiary of Seven Group Holdings Limited acquired additional shares in Boral Limited (Boral)
and | btained control over Boral. By 29 July 2021, the Group had acquired a 69.6 per cent interest. Boral's results have been |
c ns | lidated into the Group's result during the period. Refer to Note 18: Business Combinations for further detail. |
Boral's continuing operations contributed $12.5 million in net profit from ordinary activities (continuing operations) after | |
income tax for the half-year ended 31 December 2021 (December 2020: $42.4 million). | |
ForRefer to Note 17: Controlled Entities for a list of entities over which control was gained. |
Entities over which control was lost
In October 2021, Boral disposed of a number of controlled entities. Refer to Note 19: Discontinued Operations for further detail.
Refer to Note 17: Controlled Entities for a list of entities over which control was lost.
Entities over which joint control or significant influence was gained or lost
Refer to Note 8: Investments Accounted for Using the Equity Method for details of entities arising from the Boral acquisition.
3
Appendix 4D - Half-Year Report
SEVEN GROUP HOLDINGS LIMITED AND ITS CONTROLLED ENTITIES
ABN 46 142 003 469
FOR THE HALF-YEAR ENDED 31 DECEMBER 2021
RESULTS FOR ANNOUNCEMENT TO THE MARKET
UNDERLYING TRADING PERFORMANCE
only | Underlying trading performance(a) | Significant items(b) | Reported statutory results | ||||||||||
Cont | Discont | Total | Cont | Discont | Total | Cont | Discont | Total | |||||
HALF-YEAR ENDED 31 DECEMBER 2021 | $m | $m | $m | $m | $m | $m | $m | $m | $m | ||||
Revenue | 3,956.0 | 883.3 | 4,839.3 | - | - | - | 3,956.0 | 883.3 | 4,839.3 | ||||
Other income | 24.5 | - | 24.5 | 5.4 | - | 5.4 | 29.9 | - | 29.9 | ||||
Share of results from equity accounted investees | 127.4 | 7.4 | 134.8 | (3.2) | - | (3.2) | 124.2 | 7.4 | 131.6 | ||||
Revaluation of equity accounted interest on acquisition of | - | - | - | 756.8 | - | 756.8 | 756.8 | - | 756.8 | ||||
Boral Limited | |||||||||||||
Impairment reversal of equity accounted investee | - | - | - | 76.2 | - | 76.2 | 76.2 | - | 76.2 | ||||
Net gain on sale of discontinued operations | - | - | - | - | 30.8 | 30.8 | - | 30.8 | 30.8 | ||||
Expenses excluding depreciation and amortisation | (3,358.6) | (736.0) | (4,094.6) | (53.3) | (9.3) | (62.6) | (3,411.9) | (745.3) | (4,157.2) | ||||
Profit before depreciation, amortisation, net finance | 749.3 | 154.7 | 904.0 | 781.9 | 21.5 | 803.4 | 1,531.2 | 176.2 | 1,707.4 | ||||
expense and tax | |||||||||||||
D preciation and amortisation | (238.4) | - | (238.4) | 1.7 | - | 1.7 | (236.7) | - | (236.7) | ||||
Profit before net finance expense and income tax | 510.9 | 154.7 | 665.6 | 783.6 | 21.5 | 805.1 | 1,294.5 | 176.2 | 1,470.7 | ||||
N t finance expense | (127.8) | (3.2) | (131.0) | (8.1) | - | (8.1) | (135.9) | (3.2) | (139.1) | ||||
Profit before income tax | 383.1 | 151.5 | 534.6 | 775.5 | 21.5 | 797.0 | 1,158.6 | 173.0 | 1,331.6 | ||||
Income tax expense | (80.7) | (44.2) | (124.9) | 12.6 | 2.2 | 14.8 | (68.1) | (42.0) | (110.1) | ||||
Profit for the period | 302.4 | 107.3 | 409.7 | 788.1 | 23.7 | 811.8 | 1,090.5 | 131.0 | 1,221.5 | ||||
Profit for the period attributable to: | |||||||||||||
Equity holders of the Company | 291.4 | 74.7 | 366.1 | 792.4 | 16.5 | 808.9 | 1,083.8 | 91.2 | 1,175.0 | ||||
useNon-controlling interest | 11.0 | 32.6 | 43.6 | (4.3) | 7.2 | 2.9 | 6.7 | 39.8 | 46.5 | ||||
Profit for the period | 302.4 | 107.3 | 409.7 | 788.1 | 23.7 | 811.8 | 1,090.5 | 131.0 | 1,221.5 | ||||
personal | $ | $ | $ | $ | $ | $ | |||||||
EARNINGS PER SHARE | |||||||||||||
Basic earnings per share | 0.80 | 0.21 | 1.01 | 2.99 | 0.25 | 3.24 | |||||||
Diluted earnings per share | 0.80 | 0.20 | 1.00 | 2.97 | 0.25 | 3.22 | |||||||
HALF-YEAR ENDED 31 DECEMBER 2020 (Restated^) | |||||||||||||
Revenue | 2,357.4 | - | 2,357.4 | - | - | - | 2,357.4 | - | 2,357.4 | ||||
Other income | 11.5 | - | 11.5 | - | - | - | 11.5 | - | 11.5 | ||||
Share of results from equity accounted investees | 87.8 | - | 87.8 | 11.4 | - | 11.4 | 99.2 | - | 99.2 | ||||
Impairment reversal of equity accounted investee | - | - | - | 103.8 | - | 103.8 | 103.8 | - | 103.8 | ||||
Expenses excluding depreciation and amortisation | (1,930.1) | - | (1,930.1) | - | - | - | (1,930.1) | - | (1,930.1) | ||||
Pr fit before depreciation, amortisation, net finance | 526.6 | - | 526.6 | 115.2 | - | 115.2 | 641.8 | - | 641.8 | ||||
expense and tax | |||||||||||||
Depreciation and amortisation | (130.2) | - | (130.2) | - | - | - | (130.2) | - | (130.2) | ||||
Profit before net finance expense and income tax | 396.4 | - | 396.4 | 115.2 | - | 115.2 | 511.6 | - | 511.6 | ||||
Net finance expense | (79.9) | - | (79.9) | - | - | - | (79.9) | - | (79.9) | ||||
P ofit before income tax | 316.5 | - | 316.5 | 115.2 | - | 115.2 | 431.7 | - | 431.7 | ||||
Income tax expense | (67.7) | - | (67.7) | - | - | - | (67.7) | - | (67.7) | ||||
Profit for the period | 248.8 | - | 248.8 | 115.2 | - | 115.2 | 364.0 | - | 364.0 | ||||
Profit for the period attributable to: | |||||||||||||
Equity holders of the Company | 247.0 | - | 247.0 | 115.2 | - | 115.2 | 362.2 | - | 362.2 | ||||
Non-controlling interest | 1.8 | - | 1.8 | - | - | - | 1.8 | - | 1.8 | ||||
Profit for the period | 248.8 | - | 248.8 | 115.2 | - | 115.2 | 364.0 | - | 364.0 | ||||
EARNINGS PER SHARE | $ | $ | $ | $ | $ | $ | |||||||
Basic earnings per share | 0.73 | - | 0.73 | 1.07 | - | 1.07 | |||||||
For | 0.73 | - | 0.73 | 1.06 | - | 1.06 | |||||||
Diluted earnings per share |
^ Amounts have been restated. Refer to Note 1 for further detail.
(a) Underlying trading performance is comprised of reported statutory results less significant items. This is separately disclosed and reconciled to statutory performance to assist users in understanding the financial performance of the Group.
(b) Detailed information regarding the composition of significant items is provided in Note 3: Significant Items.
4
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Seven Group Holdings Limited published this content on 21 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 February 2022 20:50:05 UTC.