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Remgro (REM) investor relations material

Remgro H2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H2 2025 earnings summary23 Sep, 2025

Executive summary

  • Headline earnings increased by 38.6% year-over-year to ZAR 7.8 billion, with headline earnings per share up 38.4% to ZAR 14.09.

  • Ordinary dividend increased by 30.3% to ZAR 3.44 per share, with a special dividend of ZAR 2 per share declared, funded by the BAT share sale.

  • Balance sheet fully de-geared, creating capacity for new investments and growth.

  • Portfolio simplification advanced with the unbundling of eMedia Investments, disposal of BAT and other holdings, and pursuit of the CIVH/Vodacom deal.

  • Portfolio companies OUTsurance, Mediclinic, RCL Foods, and RAINBOW delivered strong operational improvements.

Financial highlights

  • Headline earnings rose to ZAR 7.8 billion from ZAR 5.6 billion year-over-year.

  • Dividends received at the center increased to ZAR 3.87 billion, up 23.6% year-over-year.

  • Total dividend for the year is ZAR 3.44 per share, up 30.3%, with a special dividend of ZAR 2 per share.

  • Net cash increased by ZAR 4.04 billion, mainly from asset disposals and debt redemption.

  • Intrinsic net asset value (INAV) increased 16.7% to ZAR 162.5 billion, with INAV per share up 16.5%.

Outlook and guidance

  • Positive earnings momentum continued into the first months of the new financial year.

  • Focus remains on portfolio simplification, disciplined capital allocation, and ESG integration.

  • Market conditions remain challenging, but management is confident in sustainable growth and cash generation.

  • Ongoing strategic priorities: performance optimization, considered capital allocation, and ESG leadership.

  • ESG action and enhanced climate reporting to be embedded across the group.

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Frequently asked questions

Remgro Limited is a South Africa-based investment holding company with a diversified portfolio spanning various industries. The company holds significant interests in sectors such as healthcare, consumer products, financial services, industrials, infrastructure, and media. Remgro operates primarily as a long-term investor, providing strategic oversight and capital support to its portfolio companies. Its investments include both listed and unlisted entities, primarily within South Africa but also in selected international markets. The company is headquartered in Stellenbosch, South Africa, and its shares are listed on the JSE.

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