Consumer Research Africa

HomeChoice International (HIL) FY22 – Results Snapshot

Diluted HEPS 281.8cps (+42.1% y-y).
Revenue up by 6.5% y-y to R3.7bn. Driven by strong performance in Weaver FinTech which saw revenue increase by 31.1% y-y to R1.4bn.
GPM up by 378bps to 76.5%.
Expense growth +3.6% y-y with expense to sales ratio down from 65.6% to 63.8%.
OPM improved to 13.2% (FY21: 7.7%).
Final dividend of 77.0cps (FY21: 20.0cps).
Gross debt up to R1.5bn (FY21: R1.1bn) with net cash falling to R14m (FY21: R203m).
PayJustNow acquisition gathering momentum, showing 260% increase in Gross Merchant Value to R0.7bn.
Retail revenue negatively impacted by loadshedding and credit risk tightening.