WBHO (WBO) FY22 – Results Snapshot

Diluted HEPS down -696% y-y to -3 693cps compared to 619.3cps LY.
This was due to a R2 993m loss from discontinued operations and loss of control of subsidiaries, however, PBT from continuing operations remain positive and improved by 0.7% y-y to R1 004m.
Revenue fell by -11.4% y-y to R17 240m, driven by declines in all divisions barring Construction Materials & Property Development.
OPM improved by 20bps to 4.7%.
Expenses fell by -11.7% y-y to R16 459m.
No dividend declared.
Order book increased by 42.7% y-y to R22.2bn over the restated order book value of R15.6bn.
Contract assets declined by -73.3% y-y to R281m, while contract liabilities decreased from R2 490m to R1 908m.