| Master Drilling Group Limited |
| In terms of the Listings Requirements of JSE Limited relating to trading statements, a listed company is required to publish a trading statement as soon as it becomes reasonably certain that the financial results for the next period to be reported on will differ by at least 20% from those of the corresponding prior period. |
| Shareholders are advised that the Company’s: |
- Earnings per share (“EPS”) for the year ended 31 December 2024 (“current period”) in ZAR terms are expected to be between 199,60 and 224,70 cents per share compared to the EPS of 251,00 cents per share for the year ended 31 December 2023 (“comparative period”), which is between 20,5% and 10,5% lower than the EPS of the comparative period as reported in ZAR. These lower EPS for the current period were largely the result of non-cash adjustments (* refer to note below) deemed appropriate in the current period results.
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- Headline earnings per share (“HEPS”) for the current period in ZAR terms are expected to be between 311,60 and 338,40 cents per share compared to the HEPS of 267,70 cents per share for the comparative period, which is between 16,4% and 26,4% higher than the HEPS for the comparative period as reported in ZAR.
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| Shareholders are further advised that the Company’s: |
- EPS for the current period in USD terms is expected to be between 10.90 and 12.20 cents per share compared to the EPS of 13.60 cents per share for the comparative period, which is between 19.9% and 9.9% lower than the EPS in the comparative period as reported in USD. These lower EPS for the current period were largely the result of non-cash adjustments (* refer to note below) deemed appropriate in the current period results.
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- HEPS for the current period in USD terms are expected to be between 17.00 and 18.50 cents per share compared to the HEPS of 14.50 cents per share for the comparative period, which is between 17.2% and 27.2% higher than the HEPS for the comparative period as reported in USD.
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| (*) Non-cash adjustments thus excluded from HEPS relate to the following two items: |
| The Reverse Circulation equipment in the Group’s North and Central American operations is currently not utilised due to a decline in the relevant market. The Group has therefore provided for impairment losses on this equipment while it looks to market the equipment elsewhere in the world. |
| The Group has furthermore provided for an impairment loss on the MobileTunnel boring Machine as no formal agreement is currently in place to project future cash flows. |
| The financial information on which this trading statement is based has not been reviewed or reported on by the Company’s auditors. Master Drilling’s full-year results are expected to be released on SENS on or about Tuesday, 25 March 2025 |
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| Master Drilling Group Limited |
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