APPENDIX 4D HALF YEAR REPORT
DEC 2020
APPENDIX 4D HALF YEAR REPORT DEC 2020
Key Dates
Contents
Company Info
26 February 2021
Announcement of Half-Year Profit to 31 December 2020 & Announcement of Interim
Results for Announcement to the Market
3
Directors' Report
4-25
Registered Office A1 Richmond Road, Homebush West NSW 2140 Ph: 02 9201 6111
2021 Dividend
Fax: 02 9201 6250
1 April 2021
1 April 2021
Statement of Financial Position
26
Record Date for Determining Entitlement to Interim 2021
Income Statement
27
Dividend
Share Registry Boardroom Pty Limited, Level 12, 225 George Street, Sydney NSW 2000
3 May 2021
Payment of Interim 2021
Statement of Comprehensive Income
Ph: 02 9290 9600
28
Auditors
Dividend
Statement of Changes in Equity
Ernst & Young (EY)
29-30
31 August 2021
Announcement of Full-Year Profit to 30 June 2021
Statement of Cash Flows
31
Announcement of Final 2021
Dividend
Notes to the Financial Statements
32
Securities Exchange Listing Shares in Harvey Norman Holdings Limited (HVN) are quoted on the Australian Securities Exchange Limited (ASX)
8 October 2021
Record Date Determining Entitlement to Final 2020
Other Information
54
Solicitors
Brown Wright Stein
Dividend
Directors' Declaration
55
1 November 2021
Company Secretary Mr. Chris Mentis
Payment of Final 2021
Independent Auditor's Review Report
56
Dividend
1H21 RESULTS FOR ANNOUNCEMENT TO THE MARKET
HARVEY NORMAN HOLDINGS LIMITED
REPORTED PBT
FROM $301.15m IN 1H20
PBT
Excluding AASB 16 net impact and net property revaluations
$643.91m | $610.22m | ||
UP | 113.8% | UP | 113.5% |
BY | BY |
REPORTED PROFIT AFTER TAX & NCI
$462.03m
UP BY
116.3%
FROM $213.59m IN 1H20
FROM $285.87m IN 1H20
PROFIT AFTER TAX & NCI
Excluding AASB 16 net impact and net property revaluations
FROM $203.04m IN 1H20
$438.17m | |
UP | 115.8% |
BY |
INTERIM DIVIDENDS
NET ASSETS $3.74 billion
13.9% FROM $3.28bn IN DEC 19
BASIC EARNINGS PER SHARE
37.08c
FROM 17.70c IN 1H20
PER SHARE
(FULLY FRANKED)
20.0c
HNHL CONSOLIDATED REVENUES
$2.34 billion | |
COMPANY-OPERATED SALES REVENUE . . . . . . . . . . . . . . . . . . . . . . . . . . $1.47bn | |
UP | |
BY | 27%REVENUE RECEIVED FROM FRANCHISEES . . . . . . . . . . . . . . . . . . . . . $742.07m |
FROM $1.84 billion IN 1H20 | REVENUES AND OTHER INCOME ITEMS . . . . . . . . . . . . . . . . . . . . . . . $123.70m |
$5.23 billion
AGGREGATED HEADLINE FRANCHISEE SALES REVENUE*. . $3.76bn
UP 24.8%COMPANY-OPERATED SALES REVENUE . . . . . . . . . . . . . . . . . . $1.47bn
BY
FROM $4.19 billion IN 1H20
* Sales made by franchisees in Australia do not form part of the financial results of the consolidated entity.
539 FRANCHISEES IN AUSTRALIA | 194 FRANCHISED COMPLEXES IN AUSTRALIA | OFFSHORE COMPANY 107 OPERATED STORES |
TOTAL SYSTEM SALES REVENUE
APPENDIX 4D 31 DECEMBER 2020
3
DIRECTORS' REPOROTPERATING AND FINANCIAL REVIEW (CONTINUED)OPERATING AND FINANCIAL REVIEW (CONTINUED)
OPERATING AND FINANCIAL REVIEW
FINANCIAL HIGHLIGHTS
RECORD FINANCIAL
ACHIEVEMENTSOLID BALANCE SHEET
PROPERTY
Reported profit before tax (PBT) of $643.91m, up by $342.76m or +113.8% from 1H20.
PBT (excluding net property re-valuations & AASB 16) of $610.22m, up by $324.36m or +113.5% from 1H20.
Aggregated headline franchisee sales revenue totalled $3.76 bil-lion, up by +27.3% in 1H21 vs 1H20.
Franchising operations segment revenue of $689.27m up by $245.46m or +55.3% from 1H20.
Franchising operations segment result of $383.96m up by $260.10m or +210.0%.
Franchising operations margin of 10.22% for 1H21, up by 603 bps from a margin of 4.19% for 1H20.
1H21 offshore company-operated retail revenue of $1.39bn, up by $242.72m or +21.1%.
1H21 offshore company-operated retail result of $138.15m, up by $56.46m or +69.1%.
APPENDIX 4D 31 DECEMBER 2020
Robust balance sheet with total assets of $6.26bn, including tan-gible freehold property assets of $3.10bn.
Net assets of $3.74bn up by +13.9% from Dec-19.
Net debt to equity: NIL in Dec-20 vs. 16.57% in Dec-19.
Positive net cash position of $21.75m (cash net of interest-bearing loans and borrowings) at the end of 1H21 vs. a net debt position of $553.23m at the end of 1H20.
Net cash flows from operating Net cash flows from operating activities of $391.95m for 1H21, up $93.18m or +31.2%, from $298.77m for 1H20.
Earnings per share of 37.08 cents, up by +109.5% from 17.70 cents for 1H20.
194 franchised complexes in Aus-tralia and 107 company-operated stores overseas.
$3.10 billion property portfolio, con-sisting of freehold investment prop-erties, owner-occupied properties in New Zealand, Singapore, Slovenia, Ireland and Australia, joint venture assets and assets held for resale.
$1.16 billion right-of-use assets, con-sisting of leases of owner-occupied properties of $528.26 million, and leases of properties sub-leased to external parties of $631.35 million.
12 new company-operated stores opened during 1H21 as planned:
• Galway, Ireland (Jul-20)
• Dunedin (outlet), New Zealand (Aug-20)
• Seletar Mall, Singapore (Sep-20)
• The Centrepoint, Singapore (Sep-20)
• Grey Lynn (commercial show-room), New Zealand (Oct-20)
• Glen Innes (outlet), New Zealand (Oct-20)
• Sligo, Ireland (Nov-20)
• Pula, Croatia (Nov-20)
• Westgate, Singapore (Nov-20)
• KL East Mall, Malaysia (Nov-20)
• Menara, Malaysia (Dec-20)
• Quayside Mall, Malaysia (Dec-20)
1 new premium-format Harvey Nor-man® franchised complex opened at Hornsby, NSW (Oct-20).
4
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Harvey Norman Holdings Ltd. published this content on 26 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 February 2021 02:40:02 UTC.