Pepkor (PPH) FY22 – Results Snapshot

Diluted HEPS 160.2cps (+20.1% y-y).
Revenue increased by 5.3% y-y to R81.3bn in FY22.
GPM up 110bps from 34.3% in FY21 to 35.4% in FY22.
Expense growth 7.2% y-y, with expense-to-sales ratio up from 23.9% in FY21 to 24.3% in FY22.
OPM increased by 105bps from 11.8% LY to 12.9% in FY22.
Dividend of 55.2cps (increased from 44.2cps LY)
Gross debt increased to R11.4bn (LY: R10.7bn) with Net Cash falling to R4.3bn (LY: R5.7bn).
Acquisition of Brazilian Retailer Grupo Avenida completed in FY22, adding 135 stores to Pepkorā€™s retail footprint.