Diluted HEPS 133.0cps (LY: -17cps).
Turnover increased by 14.0% y-y to R15 856m, supported by improved OEM production volumes in South Africa and increased price growth, mainly due to higher material cost content and complexity.
GPM improved from 8.9% to 12.1%.
Expenses increased by 28.0% y-y while expense-to-sales increased from 9.5% to 10.7%.
OPM decreased by 20bps to 3.1%.
No dividend.
Cash generated from operating activities improved to R148m.
Net finance expenses increased to R741m (LY: R377m) due to increased borrowing rates, specifically in Türkiye, where market interest rates ranged between 45% – 55%, combined with higher net debt levels to support customer expansion and high working capital investments.
Net monetary gains arising from hyperinflation accounting restatements were R556m (2022: R398m).
