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SDI YOUR SMILE . OUR VISION . SDI LIMITED ACN 008 075 581 | ABN 27 008 075 581 HEAD OFFICE 3-15 BRUNSDON STREET , BAYSWATER . PO BOX 314 , VICTORIA , 3153 AUSTRALIA . TOLL FREE 1800 337 003 | TELEPHONE +61 3 8727 7111 FAX +61 3 8727 7222 | info@sdi.com.au | www.sdi.com.au ASX and Media Release 19 February 2021 Half Year Results Announcement for FY21 Record first half result underpinned by strong demand in key regions . - MELBOURNE , Australia – SDI Limited ( ASX : SDI ) today announced that net profit after tax for the six months ending 31 December 2020 increased 30.9 % to a record first half result of $ 4.6 million , compared with $ 3.5 million for the same period last year . H1 2020 Highlights • Sales in the December half FY 2021 of $ 36.9 million were down 8.0 % ( 3.9 % in local currencies ) ; however , this compares to a record first half in FY 20200 and is despite the continued impact of the pandemic in key markets , with UK sales down 41.7 % and Australian direct exports down 29.7 % in local currencies . Earnings were underpinned by continued strong gross margins , with EBITDA up 21.8 % on a strong comparable period in HY20 . Operating expenses were carefully managed , down 19.0 % in local currencies , or after adjusting for government assistance programs expenses were down 12.9 % . The strategic review was completed on the Brazilian operations , and implementation is in progress . The Brazilian Real devalued by 31 % against the Australian Dollar in the last 6 months , resulting in $ 0.7 million of realised currency losses . Cashflow was strong , underpinned by solid operating conditions and a reduction in working capital . No debt for the group . Interim fully franked dividend of 1.50 cents per share , up 11.1 % on the same period last year was declared . Commenting on the result Chief Executive Officer Samantha Cheetham said : " This has been a challenging period for the group . The health and safety of our team was always at the forefront of our minds and we continue today with strict infection control policies and the use of remote conferencing tools for all staff team meetings where practical . " " While conditions began to improve in many regions , there were still several key markets impacted by strict government controls on dental practices . As some of these restrictions began to lift , we saw the pent - up demand we had spoken about at the full year begin to gain traction , with some regions close to normal . We knew this was always going to be a tough half , given the record result in comparable period , but despite this and the fact that we saw constraints on shipping , key markets including the UK and direct exports materially affected , our performance was very good . ' SUMMARY FINANCIALS ( AUD ) HY 2021 HY 2020 Sales ( $ m ) 36.8 40.0 Change % ( 8.0 ) EBITDA ( $ m ) 8.5 7.1 21.6 NPAT ( $ m ) 4.6 3.5 30.9 Operating Cashflow 8.6 4.7 82.6 Earnings Per Share ( EPS ) 3.85 2.94 29.6 Interim ordinary dividend ( cents 1.50 1.35 11.1 per share ) 1 $ 10321001 E