Diluted HEPS -3.0cps (1H23: 41.0cps).
Turnover increased by 4.1% y-y to R7 951m.
GPM decreased by 130bps to 10.2%.
Expenses increased by 14.8% y-y while expense-to-sales increased from 8.8% to 9.8%.
OPM decreased by 250bps to 1.7%.
No dividend.
Cash generated from operating activities was negative at -R373m for the period.
Total automotive battery units sold in the Energy Storage business improved by 10% y-y to 3.9 million units, supported by stronger aftermarket and export sale volumes. Total OEM battery sales volumes accounted for 35% of total energy volumes (H1 2023: 36%).
Overall vehicle production volumes were 7% y-y softer, declining to c. 270 000.
Announced the sale of Mutlu Akü on 16 September 2024.
