Diluted HEPS 311.9cps (-18.2% y-y).
Turnover increased by 14.5% y-y to R10.5bn driven by strong performance in the Leasing business, quality of vehicles and market intelligence in car sales to drive the volumes.
GPM decreased by 510bps to 40.0% due to the challenging used car market, driven by big discounts on new vehicles and declining consumer disposable income, which continues to put pressure on used car sales.
Expenses increased by 8.1% y-y while expenses-to-sales decreased from 29.5% to 27.9%.
OPM decreased by 300bps to 14.0%.
Dividend of 100cps.
Cash generated from operating activities up from -R555m to R335m.
The Board approved the registration of a Domestic Medium-Term Note (“DMTN”) programme for up to R5bn with the JSE and the development of a sustainability finance fundraising framework for Zeda, in line with ZZD’s strategy to diversify funding.
