South Africa · Delayed Price · Currency is ZAR · Price in ZAc KAP Limited Earnings Call Transcripts
Fiscal Year 2026
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Revenue declined 3% to ZAR 14.9bn, but EBITDA rose 5% and operating profit 10% on strong execution. PG Bison and Feltex drove growth, while Safripol and Optix underperformed. Net debt fell 8%, and further reductions are targeted, though H2 is expected to be softer.
Fiscal Year 2025
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Revenue grew 2% to $29.6 billion, but operating profit fell 14% due to major project ramp-up costs and market pressures. Key divisions saw mixed results, with strong project execution but significant impairments and subdued margins.
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Revenue rose 2% year-over-year, but operating profit fell 8% due to ramp-up costs and weak vehicle volumes. Major capex projects are complete, with a focus now on debt reduction and extracting value from new assets. Debt and key ratios remain within covenants.
Fiscal Year 2024
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Results for FY2024 were below expectations due to Safripol's weak performance, but five divisions grew and major projects were completed on time and budget. Debt reduction is targeted for FY2025, with a focus on extracting value from new capacity and continued operational improvements.