South Africa · Delayed Price · Currency is ZAR · Price in ZAc Metair Investments Earnings Call Transcripts
Fiscal Year 2025
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Revenue surged 57% to ZAR 17.9 billion, with EBITDA and EBIT both up 99% year-over-year, driven by Hesto consolidation and operational improvements. Despite a ZAR 294 million loss after tax due to the Rombat fine and Hesto accounting, margins and ROIC improved, and aftermarket expansion remains a key focus.
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Revenue surged 53% to ZAR 8.6 billion, with strong OEM and Hesto performance, while aftermarket EBIT declined due to margin normalization and AutoZone losses. Debt refinancing and cost initiatives support future growth amid market and customer challenges.
Fiscal Year 2024
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Faced with external and operational challenges, the group restructured, exited Mutlu, and acquired AutoZone to boost aftermarket growth. Financial performance improved in key areas, with a focus on debt restructuring and operational efficiency, while risks remain from OEM exposure and policy uncertainty.
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Results reflect a challenging period with hyperinflation in Turkey impacting profitability, but the sale of Mutlu is set to de-risk the balance sheet and improve earnings visibility. Hesto's turnaround and strong battery exports support future growth.