Grindrod Income Statement

Financials in millions ZAR. Fiscal year is January - December.

Millions ZAR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	5,558	4,976	4,846	5,884	3,417
Revenue Growth (YoY)	11.70%	2.70%	-17.64%	72.17%	-8.90%
Cost of Revenue	3,700	3,725	3,283	4,390	2,202
Gross Profit	1,859	1,252	1,562	1,494	1,215
Selling, General & Admin	30.28	21.54	29.18	27.13	28.7
Other Operating Expenses	365.62	279.95	179.56	217.98	285.03
Operating Expenses	868.91	731.48	707.52	751.59	845.03
Operating Income	989.88	520.06	854.83	741.95	369.85
Interest Expense	-302.39	-279.01	-219.97	-218.02	-235.09
Interest & Investment Income	198.4	219.7	240.64	141.49	99.93
Earnings From Equity Investments	638.89	769.71	824.47	574.6	306.89
Currency Exchange Gain (Loss)	-42.6	2.61	21.48	-19.15	68.66
Other Non Operating Income (Expenses)	993.54	-586.91	-360.71	-254.97	-186
EBT Excluding Unusual Items	2,476	646.15	1,361	965.9	424.24
Impairment of Goodwill	-	-	-137.33	-	-24.84
Gain (Loss) on Sale of Investments	-	-	34.23	7.38	-136.11
Gain (Loss) on Sale of Assets	-	-	100.47	34.85	0.29
Asset Writedown	-	-	-27.61	-35.34	-57.73
Other Unusual Items	-	-	-	-	6.77
Pretax Income	2,593	679.06	1,361	1,178	216.86
Income Tax Expense	456.47	289.6	301.61	347.86	82.13
Earnings From Continuing Operations	2,137	389.45	1,060	830.02	134.73
Earnings From Discontinued Operations	-	-	-	-175.15	116.43
Net Income to Company	2,137	389.45	1,060	654.87	251.15
Minority Interest in Earnings	2.36	0.82	2.4	2.61	-29.8
Net Income	2,139	390.27	1,062	657.48	221.36
Preferred Dividends & Other Adjustments	69.94	76.09	74.38	56.4	45.78
Net Income to Common	2,069	314.18	987.78	601.08	175.58
Net Income Growth	448.10%	-63.26%	61.55%	197.02%	-
Shares Outstanding (Basic)	667	667	667	667	671
Shares Outstanding (Diluted)	668	668	668	668	671
Shares Change (YoY)	-0.05%	0.06%	0.01%	-0.49%	-0.84%
EPS (Basic)	3.10	0.47	1.48	0.90	0.26
EPS (Diluted)	3.10	0.47	1.48	0.90	0.26
EPS Growth	559.36%	-68.22%	64.21%	244.17%	-
Free Cash Flow	1,395	-85.51	176.62	632.96	629.84
Free Cash Flow Per Share	2.09	-0.13	0.27	0.95	0.94
Dividend Per Share	0.482	0.400	0.724	0.394	0.201
Dividend Growth	20.50%	-44.75%	83.76%	96.02%	-
Gross Margin	33.44%	25.15%	32.24%	25.38%	35.55%
Operating Margin	17.81%	10.45%	17.64%	12.61%	10.82%
Profit Margin	37.23%	6.31%	20.39%	10.22%	5.14%
Free Cash Flow Margin	25.09%	-1.72%	3.65%	10.76%	18.43%
EBITDA	1,221	750.8	1,042	1,228	845.02
EBITDA Margin	21.96%	15.09%	21.50%	20.88%	24.73%
D&A For EBITDA	230.75	230.75	187.17	486.34	475.18
EBIT	989.88	520.06	854.83	741.95	369.85
EBIT Margin	17.81%	10.45%	17.64%	12.61%	10.82%
Effective Tax Rate	17.60%	42.65%	22.16%	29.53%	37.87%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.