Bidvest Group (BVT) FY25 – Results Snapshot

Diluted HEPS of 1 868cps (FY24: 1 907.6cps).
Revenue from continuing ops increased by 4.9% y-y to R126 605m.
GPM from continuing ops decreased by 20bps to 27.7%.
OPM from continuing ops decreased by 70bps to 8.5%
Total expenses from continuing ops increased by 8.0% y-y to R24 767m, while expense-to-sales increased from 19.0% to 19.6%.
Dividend of 923.0cps (LY: 914.0cps)
Cash generated from operating activities increased from R9 259m to R9 532m.
Gross debt up 25.2% y-y to R38 203m, with net cash decreasing to R5 309m.
The successful acquisition of Citron provides a strategic platform for multi-year hygiene services growth in North America.
The award of a new 25-year concession in Richards Bay, enables further domestic investment in long-dated terminal assets.