13. Pro forma supplementary information

Pro forma supplementary information is included regarding the effects of the translation of foreign operations on the Group, as well as the effect of restructuring costs on EBITDA in the prior year. Pro forma financial information is included for the Group's revenue for the current reporting period had it been translated at the average foreign currency exchange rates of the prior reporting period and for the Group's EBITDA had restructuring costs not been incurred.

The Group has translated its revenue for the current reporting period using average foreign currency exchange rates of the prior reporting period ("constant currency financial information"). The Group has adjusted its EBITDA to exclude restructuring costs ("adjusted EBITDA"). This constitutes pro forma financial information in terms of the JSE Listings Requirements.

The pro forma financial information has been compiled for illustrative purposes only and is the responsibility of the Datatec directors. Due to the nature of this information, it may not fairly present the Group's financial position, changes in equity and results of operations or cash flows.

The pro forma information has been compiled in terms of the JSE Listings Requirements and the Revised Guide on Pro Forma Information by SAICA. The pro forma information has not been audited or reviewed by the Group's external auditor, PwC.

To determine the revenues in constant currency terms, the current financial reporting period's monthly revenues in local currency have been converted to US Dollar at the average monthly exchange rates prevailing over the same period in the prior year. The average exchange rates of the Group's material currencies are listed below:

Average US Dollar exchange rates		Unaudited Six months to 31 August 2021	Unaudited Six months to 31 August 2020	Audited Year ended 28 February 2021
British Pound/US Dollar		1.39	1.26	1.30
Euro/US Dollar		1.19	1.13	1.16
US Dollar/Brazilian Real		5.27	5.31	5.39
US Dollar/Australian Dollar		1.32	1.48	1.41
US Dollar/Singapore Dollar		1.34	1.40	1.37
US Dollar/South African Rand		14.47	17.38	16.47

 

Constant currency financial information
		Unaudited Six months to 31 August 2021
US$'000		Revenue	Pro forma revenue	Constant currency % change
Datatec Group		2 257 019	2 172 656	10.7
Westcon International		1 390 520	1 327 716	7.3
Logicalis		822 859	799 837	15.4

 

Adjusted EBITDA
To determine adjusted EBITDA, restructuring costs have been excluded.
US$'000		Unaudited Six months to 31 August 2021	Unaudited Six months to 31 August 2020	Audited Year ended 28 February 2021
EBITDA		74 968	60 720	118 632
Restructuring costs		–	5 948	22 378
Adjusted EBITDA		74 968	66 668	141 010

There were no restructuring costs incurred in H1 FY22.