During the 12 months ended 31 December 2022, a dividend of 2.4 cents (2021: 1.3 cents) per ordinary share, totalling to US$4,607,599 (2021: US$2,470,713) was declared as the final dividend for 2021 and paid to the shareholders on 10 May 2022 (2021: 04 May 2021) followed by a further dividend of 1.3 cents (2021: 1.2 cents) per share which was declared as interim dividend for 2022 totalling US$2,481,586 (2021: US$2,280,658) and paid on 3 October 2022 (2021: 24 September 2021). The total dividend paid is US$7,089,184 (2021: US$4,751,372).
In respect of the year ended 31 December 2022, the Directors propose that a final dividend of 2.6 cents (2021: 2.4 cents) per share be paid to shareholders on 9 May 2023 (2021: 10 May 2022). This final dividend has not been included as a liability in these Consolidated Financial Statements. The proposed final dividend is payable to all shareholders on the Register of Members on 14 April 2023 (2021: 8 April 2022). The total estimated final dividend to be paid is US$5.0 million (2021: US$4.59 million). The payment of this final dividend will not have any tax consequences for the Group.
Other Financial Highlights:
- FY 2022 revenue of $290.3 million, up 28.0% on FY 2021 ($226.8 million), at the upper end of revised guidance of $280-290 million (up from $270-280 million guided at their FY21 results)
- FY 2022 EBITDA of $90.1 million, up 22.9% on FY 2021 ($73.3 million)
- FY 2022 EBITDA (adjusted for IFRS16 leases) of $86.4 million, up 19.4% on FY 2021 ($72.4 million)
- FY 2022 EBITDA (adjusted for IFRS16 leases) margins remained robust at 29.8% (FY 2021: 31.9%)
- Net losses from equity investments of $19.8 million in 2022, predominantly unrealised, which in combination with proceeds from sales, decreased the value of Group strategic investment portfolio to $38.7 million, as of 31 December 2022 (31 December 2021: $60.2 million)
- Net profit after tax (NPAT) of $22.7 million, down 67.7% on FY 2021 ($70.3 million). Excluding the impact of investment losses/ gains, adjusted NPAT is $42.5 million for FY2022, up 16.2% on FY 2021 ($36.6 million)
- Basic earnings per share (EPS) of 11.1 cents, down 70.1% on FY 2021 (37.0 cents). Excluding the impact of investment losses/ gains, basic EPS (adjusted) is 21.5 cents, up 11.9% on FY 2021 (19.2 cents)
- Cash from operations (adjusted for IFRS 16 leases) of $69.8 million, an increase of 67.5% on FY 2021 ($41.7 million)
- Total capex of $57.5 million, down 5.3% on FY 2021 ($60.7 million). Total capex consisted of cash capex of $43.0 million (2021: $46.3 million), prepayments of $5.5 million (2021: $3.5 million) and financed capex of $9.0 million (2021: $10.9 million)
- Net debt of $47.2 million an increase of 48.0% on FY21 ($31.9 million)
- Net debt including investments of $8.5 million (FY 2021: net cash including investments of $28.3 million)
