BITOY - Trading Update
Toyota Financial Services (South Africa) Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1982/010082/06)
Company code: BITOY
(“Toyota Financial Services” or the “Issuer”)
TRADING UPDATE
Toyota Financial Services is in the process of compiling its audited consolidated and separate annual
financial statements for the year ended 31 March 2023 (“FY2023”) and wishes to provide a trading
update with regard to its financial performance for the year ended 31 March 2023 (“FY2023”).
The Issuer hereby advises noteholders that a reasonable degree of certainty exists, that the Issuer
expects its operating profit before tax for FY2023 to be between R530 million and R550 million. This
will be a decrease of greater than 40% in the Issuer operating profit before tax compared to the R987
million achieved for FY2022.
The decrease in the Issuer’s operating profit before tax was driven by an increase in the asset portfolio,
resulting in an increase to the IFRS 9 related retail provisions, in comparison to the prior year when
the Issuer released Covid specific retail provisions.
The financial information on which this trading update is based, has not been reviewed or reported
on by the Issuer’s external auditors. The Issuer expects to release its audited financial statements for
FY2023 on or about 21 June 2023.
14 June 2023
Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 14-06-2023 04:35:00
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