iOCO Limited (IOC) FY25 – Results Snapshot

Diluted HEPS improved from -0.2cps LY to +39cps CY.
Revenue fell by 7.5% y-y to R5 583m due to a decline in the Digital segment (-5.4% y-y) and the finalisation of the NEXTEC legacy businesses (-97.4% y-y).
The reportable segments were changed in FY25 and the FY24 segments were restated.
GPM increased by 140bps to 28.7%.
OPM improved from 1.9% to 7.5%.
Expenses fell by 21.0% y-y, with expense-to-sales falling from 25.5% to 21.1%
No dividend.
Gross debt decreased by 13.2% y-y to R659m.
Net cash increased by 158% y-y to R399m aided by reduced utilisation of the overdraft facility.
Cash from operating activities improved from -R14m LY to +R423m CY.