WeBuyCars (WBC) 1H24 – Results Snapshot

Diluted HEPS -20.7cps (LY: 20.0cps).
Turnover increased by 15.9% y-y to R11 403m.
Expenses increased by 16.0% y-y while expense-to-sales remained flat at 95.0%.
OPM remained flat at 5.0%.
No dividend for 1H24. WBC declared dividends (totalling R3 410.8 million) during the six months ended 31 March 2024 to the shareholders recorded in the register prior to the pre-listing capital raise.
Cash generated from operating activities increased from R136m to R267m.
Buying volumes at 81 785 vehicles (13.7% y-y) and selling volumes at 80 538 vehicles (+3.4% y-y).