Unaudited interim condensed consolidated financial statements
for the six months ended 31 January 2024
Unaudited interim condensed consolidated financial statements
for the six months ended 31 January 2024
Solutions encompassing the configuration, security and management of IT hardware, spanning from server rooms to end-user computing.
Clients of varying sizes seeking to manage and simplify their infrastructure environments.
Bringing together a diverse range of talents to innovate, create, deliver and enhance business agility and digital resilience for our customers.
Large and enterprise-sized clients across various industries seeking to achieve business agility and digital resilience.
Digital enablement solutions for new markets, expanding access to talent pools and attracting new clients.
Middle East: Clients in sectors like financial services, agriculture and telecommunications.
UK/Switzerland: Clients seeking to leverage the Group's system integration and software resale capabilities.
Using expertise and technology to transform our clients’ processes in managing their customers, people, suppliers, assets and infrastructure, communities and operating environments, as well as the risk and regulatory landscape that governs them.
A broad spectrum of clients, ranging from emerging companies refining their governance, risk, compliance and people management frameworks, to established blue-chip firms and multinationals with intricate solution needs.
Solutions that help clients design, operate and optimise their critical information technology and infrastructure across all heavy industry sectors, including industrial, energy, mining, manufacturing, and oil and gas.
Industrial, energy, mining, manufacturing, and oil and gas clients across Africa wanting to digitise their engineering and operations, and improve safety and efficiency.
Public and private-sector clients with large asset bases seeking to optimise their power and water usage.
EOH has spent significant time over the past year optimising and aligning its suite of products and services and refining how it approaches the market and now has a stable portfolio of products and services. The Group operates through four key product pillars; namely Digital Enablement, IT Infrastructure Services, Operational Technologies, together forming iOCO SA, and EasyHQ. The International business outside of sub-Saharan Africa focuses on Digital Enablement and selling of own-IP platforms. The product pillars have further been optimised into three operating structures, with an Executive Committee that has also been aligned along these pillars, improving efficiency and accountability in our reporting structures.
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Working capital and liquidity management are key focus areas of the business with net working capital of R171 million and cash and cash equivalents at the end of the period of R411 million, excluding the overdraft facility. Debt at 31 January 2023 was at R1 228 million and had subsequently reduced to R673 million, as at 31 January 2024 after paying down the bridge facility with the proceeds of the capital raise and other disposal proceeds.
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Despite the economic headwinds faced in South Africa, EOH is well placed to compete in the ICT sector with its full stack of technology offerings, diversified client base, as well as its strong international performance, supported by our highly skilled employee base.
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