Senex Energy : Appendix 4D and FY22 Half Year Report

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For personal use only

To:	Company Announcement Office	From:	Tara Hogan
Company:	ASX Limited	Pages:	34
Date:	21 February 2022
Subject:	Senex Energy Limited (ASX:SXY) FY22 Half-Year Report

I provide the following for the Senex Energy Limited FY22 Half-Year Report:

Page 2 Appendix 4D

Page 4 Half-Year Report

With regards

Company Secretary

For personal use only

Half-Year report for the period ended 31 December 2021

Results for announcement to the market based on accounts that have been reviewed

against previous corresponding half-year ended 31 December 2020 (restated).1

				$ million
Revenue from contracts with customers	Increased	65% from $44.8m	to	74.1
Profit/(loss) after tax from continuing operations	Decreased	16% from $0.8m	to	0.6
Underlying profit after tax from continuing operations	Improved	from ($0.3m)	to	2.1
Profit/(loss) after tax from ordinary activities	Improved	from ($0.9m)	to	0.6

Underlying profit after tax from continuing operations is a non-IFRS measure. A reconciliation to statutory net profit after tax from ordinary activities is included below. Commentary on the Group's operating performance and results from operations is set out in the ASX announcement and Half-Year Report. Underlying profit has not been subject to audit or review by Senex's external auditors.

Dividends

The Company determined to pay a 5 cents per share (cps) ordinary dividend following the release of the FY22 Half-Year report. The interim dividend to be paid is set out in the table below:

	Interim dividend		Amount per Share		Franked amount
			per Share
	Interim ordinary dividend per share	$0.05		Nil
	Total dividend per share for the FY22 year to date		$0.05		Nil
	Interim dividend dates
	Record Date		1 March 2022
	Payment Date		10 March 2022

The Board has suspended Senex's Dividend Re-investment Plan for this interim dividend, due to the proposed acquisition of 100% of the issued shares in Senex by K-A Energy 1 Pty Ltd (a company owned by POSCO INTERNATIONAL Corporation and Hancock Energy Corporation Pty Ltd) by way of a scheme of arrangement.

Net tangible asset backing
	31 Dec 2021	31 Dec 2020
Net tangible assets per ordinary security*	$1.48*	$1.67*

• In March 2021, a share consolidation through the conversion of every eight shares held by a shareholder to one share (8:1) occurred. Net tangible assets per ordinary share at 31 December 2021 and 31 December 2020 is presented on a post-consolidated basis.Net tangible assets per ordinary security excluding Right of Use Assets is $0.48 (31 December 2020: $0.76).

1 31 December 2020 and 30 June 2021 comparative figures have been restated to reflect the retrospective change in accounting policy in relation to cloud computing, as disclosed in the Half-Year Report.

Senex Energy Limited	Head Office	Phone [phone]
ABN 50 008 942 827	Level 30, 180 Ann Street, Brisbane Qld 4000	Facsimile [phone]
ASX: SXY	GPO Box 2233, Brisbane Qld 4001	Web www.senexenergy.com.au	Page 1 of 2

For personal use only

Additional Appendix 4D disclosure requirements can be found in the Half-Year Report.

This report is based on the consolidated financial statements for the half-year ended 31 December 2021 which have been reviewed by Ernst & Young.

Reconciliation of profit/(loss) after tax from ordinary activities to underlying profit/(loss) after tax from continuing operations

		2021	2020
Statutory net profit after tax from ordinary activities	0.6	(0.9)
Transaction costs - PIC Scheme Implementation	1.5
Loss/(profit) from discontinued operations	-	1.6
COVID-19 government relief	-	(1.1)
Underlying profit/(loss) after tax from continuing	2.1	(0.3)
operations

Numbers may not add up precisely to totals provided due to rounding.

These consolidated financial statements for the half year ended 31 December 2021 are to be read in conjunction with the 2021 Annual Report.

Senex Energy Limited	Head Office	Phone [phone]
ABN 50 008 942 827	Level 30, 180 Ann Street, Brisbane Qld 4000	Facsimile [phone]
ASX: SXY	GPO Box 2233, Brisbane Qld 4001	Web www.senexenergy.com.au	Page 2 of 2

For personal use only

SENEX ENERGY LIMITED

AND ITS CONTROLLED ENTITIES

ABN 50 008 942 827

FINANCIAL STATEMENTS

FOR THE HALF-YEAR ENDED 31 DECEMBER 2021

For personal use only

SENEX ENERGY LIMITED AND ITS CONTROLLED ENTITIES

ABN 50 008 942 827

TABLE OF CONTENTS

Table of contents
Corporate Information	1
Directors' Report	2
Auditors' Independence Declaration	8
Consolidated Statement of Comprehensive Income	9
Consolidated Statement of Financial Position	10
Consolidated Statement of Cash Flows	11
Consolidated Statement of Changes in Equity	12
Notes to the Consolidated Financial Statements	13
Directors' Declaration	27
Independent Auditor's Report	28