Results summary for the year

Financial results

Group revenue
US$6.5 billion

(FY15: US$6.4 billion)

Group revenue in constant currency** up 8.6%

EBITDA
US$162.1 million

(FY15: US$206.4 million)

Underlying* earnings per share
32.0 US cents

(FY15: 41.8 US cents)

Final distribution maintained at
9 US cents per share

(FY15: 9 US cents per share)

Group headlines

Profitability impacted
by foreign exchange losses, restructuring and translation

Stable underlying operating performance

Acquisitions enhancing Logicalis’ scale and capabilities

Current trading and prospects

Improved geographic balance

Low revenue growth environment

BPO initiative to be expanded to Asia-Pacific

FY16 was a notably challenging year for the Group. We were affected by a combination of a strong US Dollar impacting the contribution from our emerging market operations and major income statement charges, including foreign exchange losses due to capital controls in Angola and the reorganisation of Logicalis UK.

As we stated previously, we have taken significant actions to enhance our operational performance across our WestconGroup EMEA operations. This BPO initiative is being extended to the Asia-Pacific region.

Looking ahead, we are confident that our diversification and geographical portfolio strategy as well as global positioning in the ICT market remain sound. Therefore, the Board has recommended an unchanged full year dividend.

Jens Montanana
Chief Executive

Revenue
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EBITDA
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Underlying* earnings per share
(US cents)



Dividend per share
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*Excluding impairments of goodwill and intangible assets, profit or loss on sale of investments and assets, amortisation of acquired intangible assets, unrealised foreign exchange movements, acquisition-related adjustments, fair value movements on acquisition-related financial instruments, restructuring costs and the taxation effect on all of the aforementioned.

**The pro forma constant currency information, which is the responsibility of the Datatec directors, presents the Group’s revenue for the current year had it been translated at the average foreign currency exchange rates of the prior year. This information is for illustrative purposes only and because of its nature, may not fairly present the Group’s revenues. The Group’s auditors have issued a limited assurance report (in terms of ISAE 3000 Assurance Engagements other than Audits or Reviews of Historical Information) on the pro forma financial information presented, a copy of which is available for inspection at the Company’s registered office. To determine the revenues in constant currency terms, the current financial reporting period’s monthly revenues in local currency have been converted to US Dollar at the average monthly exchange rates prevailing over the same period in the prior year. The calculation has been prepared for each of the Group’s currencies, materially being that of the British Pound, Euro, Brazilian Real, Australian Dollar, Canadian Dollar, Singapore Dollar, Mexican Peso and South African Rand.