Hudaco (HDC) 1H24 – Results Snapshot

Diluted HEPS down -12.2% y-y to 771cps compared to 878cps LY.
Turnover decreased by -6.3% y-y to R3 983m.
GPM rose by 170bps to 37.0%.
Expense to sales up by 230bps to 26.6%.
Cash flow from operations up 401.1% y-y from R92m to R461m.
Dividend of 325cps (1H23: 325cps).
Battery and energy businesses and CADAC, are the primary contributors to the decreased performance with a combined reduction of R93m in operating profit in H1 this year compared to 1H23.