SECHABA BREWERY HOLDINGS LIMITED SUMMARY OF AUDITED FINANCIAL RESULTS 31 DEcEmbER 2021
FOR THE YEAR ENDED
Company Registration No BW00000952293| BSE Share Code: SECHABA| P.O.Box 1157, Gaborone, Botswana |sechabaenquiries@sbhl.co.bw
SECHABA BREWERY HOLDINGS LIMITED
Statement of profit or loSS and other comprehenSive income for the year ended 31 december 2021
INCOME
Share of profit after tax of associates
Interest income
Other Investment Income Administration and other expenses PROFIT BEFORE TAX
Income tax expense
PROFIT AFTER TAX
Other comprehensive income
TOTAL COMPREHENSIVE INCOME FOR THE YEAR
Earnings per share
Per share information
Basic earnings per share (thebe)
SECHABA BREWERY HOLDINGS LIMITED
Statement of financial poSition aS at 31 december 2021
ASSETS
Non-current assets Investment in associates
Current assets
Trade and other receivables
Cash and cash equivalents
Total assets
EQUITY AND LIABILITIES
Capital and reserves Stated capital Hedging reserves Retained earnings Total equity
Non-current liabilities Deferred taxation
Current liabilities Trade and other payables Dividend payable Current taxation payable
Total liabilitiesTotal equity and liabilities
SummariSed performance
KBL Volumes (HL '000)
KBL results Profit before tax Taxation
Profit after tax
CCBB Volumes (HL '000)
CCBB results Profit before tax Taxation
Profit after tax
Sechaba results
Share of results of associates Profit for the period
Total comprehensive income
Earnings per share
31-Dec 2021 1136 P'000 380,458 (64,215) 316,243 1,133.4 P'000 149,678 (19,124) 130,554 P'000 222,952 200,232 200,232 Thebe 181.01 | 31-Dec 2020 1085 P'000 286,311 (46,819) 239,492 961.2 P'000 122,904 (20,630) 102,274 P'000 170,541 155,137 155,137 Thebe 140.25 | % Change 5% 33% 37% 32% 18% 22% -7% 28% 31% 29% 29% 29% |
SECHABA BREWERY HOLDINGS LIMITED
Statement of caSh floWS for the year ended 31 december 2021
Cash flows from operating activities Net cash utilised in operations
Income tax paid
Net cash utilised in operating activities
Cash flows from investing activities Dividends received
Interest received
Net cash generated from investing activities
Cash flows from financing activities
Dividends paid to shareholders
Net cash utilised in financing activities
Net movement in cash and cash equivalents for the year
Cash and cash equivalents at beginning of the year
Changes in cash and cash equivalents
Cash and cash equivalents at end of the year
37,064 18,353 portfolio of clear beers, alcoholic fruit beverages and traditional beers. CCBB is a company registered in Botswana, involved in the manufacturing, import, distribution and marketing of a portfolio of soft drinks, purified water, and other non-alcoholic beverages.
SECHABA BREWERY HOLDINGS LIMITED
STATEMENT OF CHANGES IN EQUITY FOr THE YEAr ENDED 31 DECEMbEr 2021
Balance at 1 January 2020
Profit for the year
Other Comprehensive income
Total Comprehensive income for the year
Dividends paid
Total transaction with owners
Attributable to equity holders of the companyBalance at 31 December 2020
Balance at 1 January 2021
Profit for the year
Other Comprehensive income
Total Comprehensive income for the year
Dividends paid
Total transaction with owners
Balance at 31 December 2021
Stated Capital P'000 194,548 | Hedging Reserves P'000 388 | Retained Earnings P'000 435,362 | Total P'000 630,298 |
- - | - - | 155,137 - | 155,137 - |
- | - | 155 137 | 155 137 |
- | - | (61,945) | (61,945) |
- | - | (61,945) | (61,945) |
194,548 | 388 | 528,554 | 723,490 |
194 548 | 388 | 528,554 | 723 490 |
- - | - - | 200,232 - | 200,232 - |
- | - | 200,232 | 200,232 |
- | - | (45,353) | (45,353) |
- | - | (45,353) | (45,353) |
194,548 | 388 | 683,433 | 878,369 |
32%28%
KBL PAT
11%
COMBINED VOLUMESCCBB PAT
P45m
PAID IN DIVIDENDS
SECHABA BREWERY HOLDINGS LIMITED CONTACTS
Company Secretaries & Registered Office Transfer secretaries
GranT ThornTon Business services
Plot 50370 , Acumen Park, Fairgrounds, Gaborone P O Box 1157, Gaborone,
Botswana
Operational address
Plot 50370 Acumen Park, Fairgrounds, Gaborone
P O Box 1157, Gaborone, Botswana
Email:sechabaenquiries@sbhl.co.bw Tel: +267 739 23125
Sponsoring Brokers
IMARA CAPITAL SECURITIES (PTY) LTD A Member of the Botswana Stock Exchange
Plot 74770 Western Commercial Road, New CBD Private Bag 173, Gaborone, Botswana
Tel: +267 318 8886
Transfer Secretaries
CORPSERVE BOTSWANA
Unit 206, Second Floor, Plot 64516, Showgrounds Close, Fairgrounds, Gaborone
P.O. Box 1583, Gaborone, Botswana
Tel: +267 393 2244
External Auditors
PricEwAtErhousE cooPErs Plot 50371 Fairgrounds Office Park P.O. Box 294, Gaborone, Botswana
tel: +267 370 9700
Statement on basis and preparation of the Annual Financial Statements
Incorporated in the Republic of Botswana
The Board of Directors of Sechaba Brewery Holdings Limited (SBHL) has the pleasure to present to you the abridged financial results and position for the year ended 31 December 2021. These abridged financial statements are an extract from the audited financial statements prepared in accordance with the International Financial Reporting Standards.
Audit Report
PricewaterhouseCoopers, who issued an unqualified audit opinion, have audited the economic interest financial statements from which the abridged results were extracted.
This summary of the audited economic interest financial statements of Sechaba Brewery Holdings Limited for the year ended 31 December 2021 has itself not been audited and does
not constitute the full set of the economic interest financial statements and therefore not intended to reflect a fair presentation of the results, cash flows and financial position in accordance with the International Financial Reporting Standards (IFRS).
A full set of IFRS compliant financial statements can be requested at our registered office. For any enquiries send email to the following email address:sechabaenquiries@sbhl.co.bwor call +267 73923125.
About SBHL
Sechaba Brewery Holdings Limited (SBHL) holds 49.9% shareholding in Kgalagadi Breweries
(Pty) Ltd (KBL) and 49.9% in Coca Cola Beverages (Botswana) (Pty) Ltd (CCBB). SBHL's
results directly relate to those of its two associates - KBL and CCBB. KBL is a company registered in Botswana involved in the manufacturing, import, distribution and marketing of
Volume performance
Overall volumes increased by 11% during the year ended 31 December 2021, with KBL
volumes increasing by 5% whilst CCBB volumes increased by 18%.
Financial performance
Sechaba achieved a 29% overall increase in profit after tax when compared to previous year results. The main drivers for this performance was the increase in sales volumes for both CCBB and KBL. Year on year profit before tax had a positive variance driven by revenue growth at 22.7% for CCBB and 14.3% for KBL. The Government of Botswana's economic response plan and the vaccination roll out programme, have contributed positively to the improvement in associates' performance. More than 80% of the population eligible for vaccination was vaccinated. The lifting of the alcohol bans on sale of alcohol and the normalisation of operating hours of restaurants and related outlets that trade in the products of the company, have also aided business recovery and enhanced performance. The associates' continue to contribute to efforts in supporting the health system's ability to deal with COVID-19 and protecting the economy. Despite the current unpredictability and the economic uncertainty of the ongoing pandemic, the beverage industry is showing real pockets of resilience. The company believes that there is sufficient liquidity to sustain operations for the next 12 months and beyond.
KBL
CCBB
Results Contribution
2020: 70:30 KBL:CCBB
Dividend Declaration
KBL
CCBB
Contribution to revenues
2020: 66:34 KBL:CCBB
The Board of Directors of Sechaba Brewery Holdings Limited declared final dividend of 98 thebe per share. This dividend shall be paid on 23 May 2022, net of applicable withholding taxes in terms of the Republic of Botswana Income Tax Act (Cap 52:01), as amended, to those shareholders registered on the last date to register, being the close of business on Wednesday 11 May 2022. The ex-dividend date will be Monday 9 May 2022. No provision has been raised in the financial statements for the year ended 31 December 2021 for this amount.
______________________ Tabuya Tau
Chairman
EARNINGS PER SHARE
______________________ Faith Asnath Nteta Managing Director
200.0
181.0
180.0
164.58 160.0
167.79
140.25 140.0
Thebe
120.0
100.0
83.9
80.0
60.0
40.0
40.0
20.0
2021
2020
2019
2018
2017
DIVIDENDS PER SHARE 120
Thebe
Directors
114
110
110
2021
2020
2019
2018
2017
Name
T B Tau
F A NtetaChairman Non-executive Independent Managing Director Executive
Appointed 1 July 2021
M Tshekedi
Non-executive Independent
Appointed 1 March 2021
B C Paya
M B Mokone
Non-executive Independent
J Ramesh
Member Member Member Member
Non-executive Independent
Non-executive Independent
Appointed 1 March 2021
Appointed 1 March 2021
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Disclaimer
Sechaba Brewery Holdings Limited published this content on 31 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 March 2022 07:55:08 UTC.
